Impact of High Interest rates/high Inflation on housing market

[Sonu_Patel]

- Affordability of an Individual will be reduced, 

- Housing Inventory will pile up and eventually turns out to be a buyers market where buyers will have more negotating power to bid on homes. 

- Builders will be forced to reach quarterly target so they come out with deals. 

- Pre owned/ old homes will be a big hit , there is good possibility on getting deals from Motivated sellers. 

- Lot of people who could not get through bidding/waiting since last 2-3 years are desperate to buy homes due to peer pressure/pellam gola. If any one who could not wait any further are buying this year. 

- There are chances for House price correction end of 2023 or 2024 based on the supply/demand and affordability equation. 

- Paying highter interest rates on the reduced price is better than paying moderate interest on the inflated house price. 

- House kone mundu ammortization calculator anedi okati untadi ... adi chuskoni saavandi !!

 

 

[veerigadu]

I think immediate effect enti ante....

Even desi People will start buying pre-owned homes with good deals. 

[dewarist]

20 minutes ago, veerigadu said:

I think immediate effect enti ante....

Even desi People will start buying pre-owned homes with good deals. 

Chi Chi evaro unna intlo nenu undala ani wives telling akkada..pre owned house konte mana prestige emi kaanu

Kotta illu muddu, pre-owned house vaddu

[*Prince Charming]

3 minutes ago, dewarist said:

Chi Chi evaro unna intlo nenu undala ani wives telling akkada..pre owned house konte mana prestige emi kaanu

Kotta illu muddu, pre-owned house vaddu

Common psychology among desis

[veerigadu]

4 minutes ago, dewarist said:

Chi Chi evaro unna intlo nenu undala ani wives telling akkada..pre owned house konte mana prestige emi kaanu

Kotta illu muddu, pre-owned house vaddu

Leaf and flower difference thelvakaaa Intlooo kusoniii masth septharuuu. Valladhiii poyedhiii emundhiii….duniyaaa laaa 85% of real estate is based on pre owned homes ani cheppedhiii moguduuu kakapotheee inkevaruuu anna 

[BommaliNinnodhala]

30 minutes ago, Sonu_Patel said:

- Affordability of an Individual will be reduced, 

- Housing Inventory will pile up and eventually turns out to be a buyers market where buyers will have more negotating power to bid on homes. 

- Builders will be forced to reach quarterly target so they come out with deals. 

- Pre owned/ old homes will be a big hit , there is good possibility on getting deals from Motivated sellers. 

- Lot of people who could not get through bidding/waiting since last 2-3 years are desperate to buy homes due to peer pressure/pellam gola. If any one who could not wait any further are buying this year. 

- There are chances for House price correction end of 2023 or 2024 based on the supply/demand and affordability equation. 

- Paying highter interest rates on the reduced price is better than paying moderate interest on the inflated house price. 

- House kone mundu ammortization calculator anedi okati untadi ... adi chuskoni saavandi !!

 

 

Chala growth undhe ni housing buying process knowledge lo — all your points may come true in the following year 

[TechSri]

35 minutes ago, Sonu_Patel said:

- Affordability of an Individual will be reduced, 

- Housing Inventory will pile up and eventually turns out to be a buyers market where buyers will have more negotating power to bid on homes. 

- Builders will be forced to reach quarterly target so they come out with deals. 

- Pre owned/ old homes will be a big hit , there is good possibility on getting deals from Motivated sellers. 

- Lot of people who could not get through bidding/waiting since last 2-3 years are desperate to buy homes due to peer pressure/pellam gola. If any one who could not wait any further are buying this year. 

- There are chances for House price correction end of 2023 or 2024 based on the supply/demand and affordability equation. 

- Paying highter interest rates on the reduced price is better than paying moderate interest on the inflated house price. 

- House kone mundu ammortization calculator anedi okati untadi ... adi chuskoni saavandi !!

 

 

Friends vallu konnaru and chuttalu konnaru ani edho pressure and emotions tho konakandi. Many lost their jobs and they have to go to office on hybrid so don’t move to somewhere and buy. 100% remote jobs will not be there any more. I guess Pre-owned homes chala sale ki vastay by end of the year. No one pay housing rent if u think i can rent out and go to other city. 

[veerigadu]

9 minutes ago, *Prince Charming said:

Common psychology among desis

theliyakaaa anna. Cheptheee vinaruuu malliii
 

Kottha illu concept kosam city ki hours dhooram pothunnaruuu in a shitty school districts and near nuclear reactors etc. 

I say why can’t you compromise on new home part. Aim to live in a rich neighbourhood with good school district and live as close as possible to good parts of the city.  
 

I always tell people. Location is everything in real estate. Neeku jilaaa unteee malli mottham kotthagaaa kattukovvachuuu few years down the lane but you can’t uproot home to a new location ani. 

[TechSri]

Used houses kone process enti. 
 

do we need to contact attorney to make sure there is no legal issues or wife hubby fighting issues about the home? 
 

home inspector ni contact. 
 

ivi rendu cheste chala? Used homes kone process teliyadu

[Anta Assamey]

[dewarist]

31 minutes ago, veerigadu said:

Leaf and flower difference thelvakaaa Intlooo kusoniii masth septharuuu. Valladhiii poyedhiii emundhiii….duniyaaa laaa 85% of real estate is based on pre owned homes ani cheppedhiii moguduuu kakapotheee inkevaruuu anna 

Valla amma ayya kooda cheptaru..maa chuttalabbayi kotta illu konnadandi, meeru kooda kotta ille konali ani

Used homes quality is much much better than newer built homes these days. But who wants to know and understand that..

[*Prince Charming]

32 minutes ago, veerigadu said:

theliyakaaa anna. Cheptheee vinaruuu malliii
 

Kottha illu concept kosam city ki hours dhooram pothunnaruuu in a shitty school districts and near nuclear reactors etc. 

I say why can’t you compromise on new home part. Aim to live in a rich neighbourhood with good school district and live as close as possible to good parts of the city.  
 

I always tell people. Location is everything in real estate. Neeku jilaaa unteee malli mottham kotthagaaa kattukovvachuuu few years down the lane but you can’t uproot home to a new location ani. 

Mast cheppina bro but mana fears enti ante pre owned lo hidden bokkalu untaayemo Ani. Manam inspection cheyinchukunna konni years tarvata baitikostaai bokkalu. It's always give & take with pre owned.

 

 

200% agree on both highlighted points.

[dewarist]

Just now, *Prince Charming said:

Mast cheppina bro but mana fears enti ante pre owned lo hidden bokkalu untaayemo Ani. Manam inspection cheyinchukunna konni years tarvata baitikostaai bokkalu. It's always give & take with pre owned.

 

 

200% agree on both highlighted points.

That is where inspections help. Inspections kooda waive off cheste kastame

As @veerigadu said location matters. Ekkado bokkalo poyi kotta illu konadam kante, look for a pre-owned house that fits your criteria in much better part of the city.

 

[Gaali_Gottam_Govinda]

57 minutes ago, dewarist said:

Chi Chi evaro unna intlo nenu undala ani wives telling akkada..pre owned house konte mana prestige emi kaanu

Kotta illu muddu, pre-owned house vaddu

naa matta andari desi intlo idhe situation....... same price ki.....  5 year old pre-owned home 1000 sqft extra, large backyard and closer to downtown vastunna......... ledu naaku new home ye kaavali small backyard, small house, 10 miles outside of city limits vachina okay antunnaru aada ladies demands........

[veerigadu]

12 minutes ago, *Prince Charming said:

Mast cheppina bro but mana fears enti ante pre owned lo hidden bokkalu untaayemo Ani. Manam inspection cheyinchukunna konni years tarvata baitikostaai bokkalu. It's always give & take with pre owned.

 

 

200% agree on both highlighted points.

Biggest expense is usually roof and HVAC. Typical 2500sqft Avi kuda max $25k repairs if at all if that ever happen. All the rest are chota Motaaa.. it’s more about prestige as others mentioned. 

idhe mana desi gallakiii for a same price, hitech city lo old house 100sq yards and city avthalaaa 250 yards new home supistheeee ye dhiii kontaruuu antavvv?