Current market real cost of buying home in Dallas

[FrustratedVuncle]

1 hour ago, ManchamKodi said:

house konnala @Sonu_Patel asking

Lets do case study:

Mortgage payment:

650k home at 7% interest, 2.5% property tax. 0.5% home insurance - monthly EMI $5111. 

In 30yrs you will end up paying - $1,845,309.26

Home Value after 30yrs:

650k home 3.5% appreciation per year will be worth $1,854,636.66 after 30yrs. 

Rent payment in 30yrs:

if your rent is 2000/mo. On avg 3% increase in rent every year. You will end up paying $1,157,428.50 over 30years.

If you buy home you end up paying 1.8M and you will have 1.8M as home equity. A rental payment is money gone. 

So Buy a home. If interest rate is 4-5% or you pay mortgage loan quickly, you will not pay too much interest money so you will end up with more profit. 

So in my opinion OPT students or Nibba Nibbis buying home early is not a problem. Owning a home puts a burden of paying EMI every month no matter what. So understand the risk, maintain job you will be fine. 

[Aquaman]

1 hour ago, FrustratedVuncle said:

Lets do case study:

Mortgage payment:

650k home at 7% interest, 2.5% property tax. 0.5% home insurance - monthly EMI $5111. 

In 30yrs you will end up paying - $1,845,309.26

Home Value after 30yrs:

650k home 3.5% appreciation per year will be worth $1,854,636.66 after 30yrs. 

Rent payment in 30yrs:

if your rent is 2000/mo. On avg 3% increase in rent every year. You will end up paying $1,157,428.50 over 30years.

If you buy home you end up paying 1.8M and you will have 1.8M as home equity. A rental payment is money gone. 

So Buy a home. If interest rate is 4-5% or you pay mortgage loan quickly, you will not pay too much interest money so you will end up with more profit. 

So in my opinion OPT students or Nibba Nibbis buying home early is not a problem. Owning a home puts a burden of paying EMI every month no matter what. So understand the risk, maintain job you will be fine. 

[CanadianMalodu]

1 hour ago, FrustratedVuncle said:

Lets do case study:

Mortgage payment:

650k home at 7% interest, 2.5% property tax. 0.5% home insurance - monthly EMI $5111. 

In 30yrs you will end up paying - $1,845,309.26

Home Value after 30yrs:

650k home 3.5% appreciation per year will be worth $1,854,636.66 after 30yrs. 

Rent payment in 30yrs:

if your rent is 2000/mo. On avg 3% increase in rent every year. You will end up paying $1,157,428.50 over 30years.

If you buy home you end up paying 1.8M and you will have 1.8M as home equity. A rental payment is money gone. 

So Buy a home. If interest rate is 4-5% or you pay mortgage loan quickly, you will not pay too much interest money so you will end up with more profit. 

So in my opinion OPT students or Nibba Nibbis buying home early is not a problem. Owning a home puts a burden of paying EMI every month no matter what. So understand the risk, maintain job you will be fine. 

That's a lot of ifs for those that are on "temporary work visas"

[Dale]

2 hours ago, FrustratedVuncle said:

Lets do case study:

Mortgage payment:

650k home at 7% interest, 2.5% property tax. 0.5% home insurance - monthly EMI $5111. 

In 30yrs you will end up paying - $1,845,309.26

Home Value after 30yrs:

650k home 3.5% appreciation per year will be worth $1,854,636.66 after 30yrs. 

Rent payment in 30yrs:

if your rent is 2000/mo. On avg 3% increase in rent every year. You will end up paying $1,157,428.50 over 30years.

If you buy home you end up paying 1.8M and you will have 1.8M as home equity. A rental payment is money gone. 

So Buy a home. If interest rate is 4-5% or you pay mortgage loan quickly, you will not pay too much interest money so you will end up with more profit. 

So in my opinion OPT students or Nibba Nibbis buying home early is not a problem. Owning a home puts a burden of paying EMI every month no matter what. So understand the risk, maintain job you will be fine. 

(EMI) 5111$ - (Rent) 2000$ = ~ 3000$/month * 30 years = $1080000 invest in stock market or land in india or other investments

it will be equivalent to >4M+ in 30 years!

[ManchamKodi]

5 hours ago, FrustratedVuncle said:

Lets do case study:

Mortgage payment:

650k home at 7% interest, 2.5% property tax. 0.5% home insurance - monthly EMI $5111. 

In 30yrs you will end up paying - $1,845,309.26

Home Value after 30yrs:

650k home 3.5% appreciation per year will be worth $1,854,636.66 after 30yrs. 

Rent payment in 30yrs:

if your rent is 2000/mo. On avg 3% increase in rent every year. You will end up paying $1,157,428.50 over 30years.

If you buy home you end up paying 1.8M and you will have 1.8M as home equity. A rental payment is money gone. 

So Buy a home. If interest rate is 4-5% or you pay mortgage loan quickly, you will not pay too much interest money so you will end up with more profit. 

So in my opinion OPT students or Nibba Nibbis buying home early is not a problem. Owning a home puts a burden of paying EMI every month no matter what. So understand the risk, maintain job you will be fine. 

nice case study anna

Trump vachindu kabbati prices in Dallaspuram lo 350k ki vastundhi next year lo.

350k and 4% interest rate unte tesukovachu house 

[ManchamKodi]

2 hours ago, Dale said:

(EMI) 5111$ - (Rent) 2000$ = ~ 3000$/month * 30 years = $1080000 invest in stock market or land in india or other investments

it will be equivalent to >4M+ in 30 years!

illa chesthe pelli kadu pellam undadhu anna

 

[ManchamKodi]

3 hours ago, CanadianMalodu said:

That's a lot of ifs for those that are on "temporary work visas"

Students kuda konnaru 700k houses 4 and 5 group kalisi

[Konebhar6]

11 hours ago, Aquaman said:

home purchase has become something like car purchase  now a days....

OPT students kuda konesthunnaru.... peer pressure & prestige issues tho antunna @Sonu_Patel  

I have seen a lot of posts here that mention OPTs buying homes. Is it really true? Unless they have a job and decent savings, banks/financial establishments wont give loans. How are they getting around this?

[dreamchaser]

6 hours ago, FrustratedVuncle said:

Lets do case study:

Mortgage payment:

650k home at 7% interest, 2.5% property tax. 0.5% home insurance - monthly EMI $5111. 

In 30yrs you will end up paying - $1,845,309.26

Home Value after 30yrs:

650k home 3.5% appreciation per year will be worth $1,854,636.66 after 30yrs. 

Rent payment in 30yrs:

if your rent is 2000/mo. On avg 3% increase in rent every year. You will end up paying $1,157,428.50 over 30years.

If you buy home you end up paying 1.8M and you will have 1.8M as home equity. A rental payment is money gone. 

So Buy a home. If interest rate is 4-5% or you pay mortgage loan quickly, you will not pay too much interest money so you will end up with more profit. 

So in my opinion OPT students or Nibba Nibbis buying home early is not a problem. Owning a home puts a burden of paying EMI every month no matter what. So understand the risk, maintain job you will be fine. 

How can you assume that a person will stay in the same place for 30years with visa and job issues?

[futureofandhra]

4 minutes ago, dreamchaser said:

How can you assume that a person will stay in the same place for 30years with visa and job issues?

This is the biggest issue 

Kids schooling matters too

[Sonu_Patel]

14 hours ago, Konebhar6 said:

I have seen a lot of posts here that mention OPTs buying homes. Is it really true? Unless they have a job and decent savings, banks/financial establishments wont give loans. How are they getting around this?

OPTs showing EAD card anna and telling lenders that it can be renewed and getting approved anna..

 

[FrustratedVuncle]

18 hours ago, Dale said:

(EMI) 5111$ - (Rent) 2000$ = ~ 3000$/month * 30 years = $1080000 invest in stock market or land in india or other investments

it will be equivalent to >4M+ in 30 years!

Very true. I totally agree, until you have proper money earning for you, high end house konatam is like wealth suicide meaning rich ayye chances takkuva.
But not many know how to properly invest money. Teda kodithe paisal M gudisipotai. 

 

[FrustratedVuncle]

16 hours ago, ManchamKodi said:

nice case study anna

Trump vachindu kabbati prices in Dallaspuram lo 350k ki vastundhi next year lo.

350k and 4% interest rate unte tesukovachu house 

650k home 350k ki vastundi antunava annai... 
 

[FrustratedVuncle]

15 hours ago, Konebhar6 said:

I have seen a lot of posts here that mention OPTs buying homes. Is it really true? Unless they have a job and decent savings, banks/financial establishments wont give loans. How are they getting around this?

Evaro 1 in 1000. very rare case anna OPTs buying home. Current gen Youth mostly think about fussy, cars, reels, show off and . 

[FrustratedVuncle]

15 hours ago, dreamchaser said:

How can you assume that a person will stay in the same place for 30years with visa and job issues?

 

15 hours ago, futureofandhra said:

This is the biggest issue 

Kids schooling matters too

Of course anna job, visa, DW not giving bjs all risks and issues always there. But buying home in current market discussion apart from other side noise.