Buying house in vomerica waste

[Spartan]

nenu small house chustunna...but again in dillema..

savings anni akkada stuck aipotaya ani..

second income start ayyaka 4 bed teskundama..appatiki prices market padtadi emo ani waiting.

 

@tom bhayya  @k2s

[afmod1]

3 minutes ago, Spartan said:

nenu small house chustunna...but again in dillema..

savings anni akkada stuck aipotaya ani..

second income start ayyaka 4 bed teskundama..appatiki prices market padtadi emo ani waiting.

 

@tom bhayya  @k2s

@k2s @TOM_BHAYYA confirm n add details...

[yomama]

4 minutes ago, Lukewalker said:

Ee airbnb idea edho bagundhi guruji. 2 years lo investment back ki vachesthadhi 

investment em kharma uncle , 10 tiny houses 300k ayte, manchi locations lo petti run cheyali. airbnb per night minimum 80-100 ade exotic location ayte you can charge based on season. 

monthly 10 nights average - 1000.00

yearly on one house - 12k (worst case scenario)

expenses- 1k (yearlong heat, water,electricity)

yearly 100k minimum returns on the project. ade manchi happening places lo 5 exotic places 5 pedte you can change the equation by stats. but this is a good business, imagine oka view to unde airbnb unte how cool it will be and you dont have to pay hefty sums to get what you want.

[afmod1]

15 minutes ago, aviator said:

with good credit score and 20% down are looking at $1700-2100 range @ 3.5 rate

deni paina, taxes vuntaye. CO is less, CA is more. So yearly tax enta vunte danni /12 cheyi and add it to the mortgage payment.

 

downpayment 20% kanna takkuva vunte PMI vestaru which will be 200-300$ per month on top of your mortgage

There are ways around it. like 10% down cheste 90% loan and the remaining 10% HELOC (home equity line of credit ) istaru. They are basically called piggy back loans for low down payment to avoid PMI

also neeku enta loan vastado depends on what county you are buying the house in. Denni batti neeku conforming loan vastado leka jumbo teesukovalo decide avutadi.

for example, if you are buying for $500K and down only 10% you need loan for 450K. According to fannie and freddie guidelines, conforming loans are 417K and depending on the area. some have upto 650K as confirming loans. So the sequence of steps would be :

1) decide where you will buy the house

2) determine what the conforming loan limits are in that county

3) depending on step2 decide how much you are going to put upfront for downpayment

4) see if you will get a conventional loan for the rest. if not your mortgage rates will be high for jumbo

5) calculate what the taxes are

6) calculate your monthly payment (online calculators available) and see if you can afford it with your monthly income

Bottom line - Do not get carried away into buying especially in places with high property taxes...

if you have double income and want to stick in the place you are for long term even with high taxes..go ahead and buy

Overall good info..

double income ledu but no visa/job issues.. Bro.. Just monthly entavtadaa soi can plan my expenses ani thinking. Coz unless we enter into it we donno,what comes on the way andukey experienced vallani teluskundam ani ..

[Barney_Stinson]

ehe endee lolli 

[camsam]

11 minutes ago, Spartan said:

nenu small house chustunna...but again in dillema..

savings anni akkada stuck aipotaya ani..

second income start ayyaka 4 bed teskundama..appatiki prices market padtadi emo ani waiting.

 

@tom bhayya  @k2s

Based on my experience, if you already have kids, go for the big house like you said 4 BHK.

If not get  a smaller one, which will introduce you to home ownership and may be 5-10 years down the lane , based on different factors like no.of kids etc, you can get a bigger one.

Remember always, home ownership comes at cost and responsibility.

 

[Spartan]

2 minutes ago, camsam said:

Based on my experience, if you already have kids, go for the big house like you said 4 BHK.

If not get  a smaller one, which will introduce you to home ownership and may be 5-10 years down the lane , based on different factors like no.of kids etc, you can get a bigger one.

Remember always, home ownership comes at cost and responsibility.

 

anduke wait chestunna..

2 bedroom homes chala unnai nenu chuse area lo..but all have bumped up the prices by 30-40% of their last sale value --not more than 5yrs though.

if i end up buying one then i am paying almost 30% more...and market falls..im bisketted..

ade 4 BHK teskunte appriciate ayye chances are better ani alochistunna..but cant afford 4 BHK with single income.

[Lukewalker]

21 minutes ago, yomama said:

investment em kharma uncle , 10 tiny houses 300k ayte, manchi locations lo petti run cheyali. airbnb per night minimum 80-100 ade exotic location ayte you can charge based on season. 

monthly 10 nights average - 1000.00

yearly on one house - 12k (worst case scenario)

expenses- 1k (yearlong heat, water,electricity)

yearly 100k minimum returns on the project. ade manchi happening places lo 5 exotic places 5 pedte you can change the equation by stats. but this is a good business, imagine oka view to unde airbnb unte how cool it will be and you dont have to pay hefty sums to get what you want.

300k investment ki yearly 100k returns ante 3 years padthadhi kadha investment motham raataniki. plus ee craze untundho undadho down the lane, but good business idea though

[camsam]

11 minutes ago, Spartan said:

anduke wait chestunna..

2 bedroom homes chala unnai nenu chuse area lo..but all have bumped up the prices by 30-40% of their last sale value --not more than 5yrs though.

if i end up buying one then i am paying almost 30% more...and market falls..im bisketted..

ade 4 BHK teskunte appriciate ayye chances are better ani alochistunna..but cant afford 4 BHK with single income.

Agreed . Single income ante  konchem kastame bro...regardless of location, I think you will need to spend atleast $300k for a decent 4 BHK house.

 

 

[yomama]

8 minutes ago, Lukewalker said:

300k investment ki yearly 100k returns ante 3 years padthadhi kadha investment motham raataniki. plus ee craze untundho undadho down the lane, but good business idea though

craze ante we are not selling he tiny house , motel-hotel industry 200 years nundi undi adi ekadki podu uncle

[SwamyRaRa]

Gp

[mettastar]

23 minutes ago, yomama said:

craze ante we are not selling he tiny house , motel-hotel industry 200 years nundi undi adi ekadki podu uncle

but location important kada uncle... best beach la daggara ocean view lo pedithe super untadi

[Lukewalker]

22 minutes ago, yomama said:

craze ante we are not selling he tiny house , motel-hotel industry 200 years nundi undi adi ekadki podu uncle

craze ante I mean, ippudu tiny house, motel room okate price anuko, first lo chala mandhi tiny house ki opt chestaru, tarvata craze pothe motel ki shift avtaru. I saw many motels closed because of losses. andhuke antunna but as I have said earlier oka 10 teeskokunda 2 or 3 petti first few years lo ne kummukunte tarvata craze unte extend ledha sell and close.

[yomama]

1 minute ago, Lukewalker said:

craze ante I mean, ippudu tiny house, motel room okate price anuko, first lo chala mandhi tiny house ki opt chestaru, tarvata craze pothe motel ki shift avtaru. I saw many motels closed because of losses. andhuke antunna but as I have said earlier oka 10 teeskokunda 2 or 3 petti first few years lo ne kummukunte tarvata craze unte extend ledha sell and close.

Yes that's true kani motels ki diniki link ledu buddy totally different crowd kada, people who want to get away from city want to spend in these,

[yomama]

4 minutes ago, mettastar said:

but location important kada uncle... best beach la daggara ocean view lo pedithe super untadi

right mountains, beaches, woods, lakes ila spots ki tagattu planned construction chesi set cheyali i think it will be a huge business not just in us, world lo ekadina pettachu