House buying risk

[hydusguy]

1 hour ago, Ravi860 said:

arm is tempting but Isn’t arm a gamble assuming rate will go down for sure in 5 years to do refinance

well i am confident i can close 70%.. of my amount in 5yrs.. if not will refinance

[ve_ndor_bad_cows]

8 minutes ago, Vaampire said:

Banks will take care of closing costs if u take points.

why would u pay more interest with refinancing? It will extend ur term for sure. 

Compound interest on 575k check bro

loan 1 :2022 five years principal 30k 5%

2027 - second five years 50k

loan 2: 2027 -  five years 35k 3%

if you compare loan 1 vs loan 2 considering 2% interest down, 15k loss with refinancing with 0 closing costs

[ve_ndor_bad_cows]

10 minutes ago, hydusguy said:

well i am confident i can close 70%.. of my amount in 5yrs.. if not will refinance

I guess Full cash reserves 

[hydusguy]

3 minutes ago, ve_ndor_bad_cows said:

I guess Full cash reserves 

no my house cost price is less.. not even 500k.. like you guys in this db.. seems most of them are millionaires here

[Vaampire]

11 minutes ago, ve_ndor_bad_cows said:

Compound interest on 575k check bro

loan 1 :2022 five years principal 30k 5%

2027 - second five years 50k

loan 2: 2027 -  five years 35k 3%

if you compare loan 1 vs loan 2 considering 2% interest down, 15k loss with refinancing with 0 closing costs

I dint get it

[Ravi860]

10 minutes ago, hydusguy said:

no my house cost price is less.. not even 500k.. like you guys in this db.. seems most of them are millionaires here

If you don’t house loans yes 🤣

[ve_ndor_bad_cows]

10 minutes ago, Vaampire said:

I dint get it

Google Amortization calculator chudu bro, sample numbers petu you will understand what i am saying

first loan ki 5% petanu

refinancing ki 3% petanu

the amount that goes to principal between having the same loan va refinancing varies because of the way laon gets calculated

 

[JUST444FUN]

5 hours ago, hydusguy said:

i would wait..  unless u dont regret if it does down and u can afford.

Naaku telisina vallu 2.5 years nundi wait chestunnaru, Inka konalesu home . They are in late 30,s inko 3 years wait cheste emundi bro life . Waiting lone 10% life time eeypotadi 

Neenite home nacchite Konta, if I could afford  it. Want to live life.

[ve_ndor_bad_cows]

Just now, JUST444FUN said:

Naaku telisina vallu 2.5 years nundi wait chestunnaru, Inka konalesu home . They are in late 30,s inko 3 years wait cheste emundi bro life . Waiting lone 10% life time eeypotadi 

Neenite home nacchite Konta, if I could afford  it. Want to live life.

Same in my circle, many waited and still few are waiting

[Vaampire]

13 minutes ago, ve_ndor_bad_cows said:

Google Amortization calculator chudu bro, sample numbers petu you will understand what i am saying

first loan ki 5% petanu

refinancing ki 3% petanu

the amount that goes to principal between having the same loan va refinancing varies because of the way laon gets calculated

 

Its not straight forward as u think. 
i only care about how much interest i am paying and not about principal 

[ve_ndor_bad_cows]

15 minutes ago, Vaampire said:

Its not straight forward as u think. 
i only care about how much interest i am paying and not about principal 

Just Check bro, principal thakuva -> interest more 

 

https://www.bankrate.com/mortgages/amortization-calculator/

[Complex]

40 minutes ago, JUST444FUN said:

Naaku telisina vallu 2.5 years nundi wait chestunnaru, Inka konalesu home . They are in late 30,s inko 3 years wait cheste emundi bro life . Waiting lone 10% life time eeypotadi 

Neenite home nacchite Konta, if I could afford  it. Want to live life.

last 2.5 years ante bit different situation ga, pandemic, sudden housing demand with bidding wars, WFH.

Lot of people are in that situation.

Bidding lo overpriced ki konna  adhi inko headache.

But I see your point.

[quickgun_murugun]

19 hours ago, ve_ndor_bad_cows said:

New construction signed and estimated completion september end, deposit 12k paid.

thinking now if its risky, Next year housing crash chances emiti? In case of housing crash may get the similar house for atleast 30% less price, even if i loose that 12k that would still be a better deal

What do you suggest? 

Already chala places lo 10-15% taggayi… inkoka 15-20% padthadi… padthay anatam kantey market correction anatam correct. Technically genuine ga peragaledu kabatti padatam undadu… 

Actual correction effects will be shown to general public after the November elections ! 
 

house vishayam lo proceed or drop off anedi nee personal thing. If you have confidence in your financial situation then go ahead. If you are skeptical, then wait until you gain confidence ! 
By waiting , you will definitely gain confidence either through FOMO or through comparative analysis ! 😀 

Overall housing market is going through and will continue to go through correction phase until Q3 of 2023 Fiscal Year ! 

[ve_ndor_bad_cows]

17 minutes ago, quickgun_murugun said:

Already chala places lo 10-15% taggayi… inkoka 15-20% padthadi… padthay anatam kantey market correction anatam correct. Technically genuine ga peragaledu kabatti padatam undadu… 

Actual correction effects will be shown to general public after the November elections ! 
 

house vishayam lo proceed or drop off anedi nee personal thing. If you have confidence in your financial situation then go ahead. If you are skeptical, then wait until you gain confidence ! 
By waiting , you will definitely gain confidence either through FOMO or through comparative analysis ! 😀 

Overall housing market is going through and will continue to go through correction phase until Q3 of 2023 Fiscal Year ! 

Thanks for inputs, its good to see different views and perspectives 

So far no corrections in the area i am interested in

comfortable financially

If <20% corrections then I don’t care

[quickgun_murugun]

35 minutes ago, ve_ndor_bad_cows said:

Thanks for inputs, its good to see different views and perspectives 

So far no corrections in the area i am interested in

comfortable financially

If <20% corrections then I don’t care

Correction will be about 20-30% overall ! Then there will be a slow progress ! 
If recession hits ( planned recession ) by 2025 , chances of price drops is more !