Real Estate - My opinion on Current Home prices and Interest rates !!

[Sonu_Patel]

People who bought homes before pandemic are lucky enough and got combination of Low home prices and Low Interest rates refinancing options during the pandemic. 

- Ipudu unna situations lo Higher home prices and Higher interest rates (~7%) ki.. Home sellers/builders are still expecting high pandemic prices no matter the interest rates. 

- Unfortunately, people who buy this year with such higher Interest rates will be at higher financial risk! 

- Do not fall into trap for Bidding in the current market!

- Realtors will always keep pressure on home buyers to submit offers.

- Always calculate the monthly payment and your take home salary after taxes. Typically, the monthly home payment must be less than 30% of your take home pay. I bet this works out perfectly for people who bought at right price. 

- Real Estate is all about LOCATION LOCATION LOCATION. Focus on finding a home in a good area which has good access to Restaurants, Groceries, Work location if applicable. 

- If buying a pre-owned home, do the full inspection and find out if any repairs are required. Do not give blind offers. 

- If you have kids/plan to have kids.. look at school ratings on Great Schools or niche website. higher school ratings will always attract buyers. 

- More importantly, If the home current price is more than Double the home value before 2020. Do NOT buy because there is good chances for correction and you end up in life long wait to build that equity on home. 

 

[veerigadu]

Most important. Athulllllluuu sariigaaa peragakka mundheeee Ethulaaakiii poyiiii peddhaaa gaaa undeeeee kompaluuuu konnodhuuu. Buy as per your requirements. Bigger homes tho bigger property taxes, high utility bills and more maintenance costs.
 

You can always buy bigger one in the future. don’t go beyond 2500sqft imo

[KGFsutthi]

1 minute ago, veerigadu said:

Most important. Athulllllluuu sariigaaa peragakka mundheeee Ethulaaakiii poyiiii peddhaaa kompaluuuu konnodhuuu. Buy as per your requirements. You can always buy bigger one in the future. 

O sthree Repu ra laga ide cheptunnaru every year, when is right time to buy bro? Already pattukoni waiting kindha 

[gudboy]

2 minutes ago, veerigadu said:

Most important. Athulllllluuu sariigaaa peragakka mundheeee Ethulaaakiii poyiiii peddhaaa kompaluuuu konnodhuuu. Buy as per your requirements. You can always buy bigger one in the future. 

no anna ma friend 1 mil $ illu konnadu and housewarming lo sokulu thengadu..makem thakkuva anna memu 1.5 mil kontam and double sokulu thengutham

[veerigadu]

1 minute ago, KGFsutthi said:

O sthree Repu ra laga ide cheptunnaru every year, when is right time to buy bro? Already pattukoni waiting kindha 

Powell and Biden thatha keee clarity ledhuuu. Em sesthunnaro… flow lo kottukopavdameee inkaaa. The truth of the matter is market is overpriced. But sellers are not willing to reduce prices since they witnessed all time highs just 8 months ago. Idhiii oka padmaaavyuhaaammm

[gudboy]

2 minutes ago, KGFsutthi said:

O sthree Repu ra laga ide cheptunnaru every year, when is right time to buy bro? Already pattukoni waiting kindha 

there is no right time anna..if you both are working and can manage monthly payments if one you gets laid off go for it.

[veerigadu]

3 minutes ago, gudboy said:

no anna ma friend 1 mil $ illu konnadu and housewarming lo sokulu thengadu..makem thakkuva anna memu 1.5 mil kontam and double sokulu thengutham

Intlooo ladies ki status and ego problems unteee. Inkaaa aaa moguduuu kastaluuuu pagodikiii kudaaa ravoddhuuu

[tokkalogola]

8 minutes ago, gudboy said:

no anna ma friend 1 mil $ illu konnadu and housewarming lo sokulu thengadu..makem thakkuva anna memu 1.5 mil kontam and double sokulu thengutham

Maaku mee laga etulu minge vaale kavali ala etulu mingi default ayye valu ante inka ishtam ... 😂

[cameraman]

[perugu_vada]

Buying an house is a luxury and it is an upgrade .. bcos u are moving from 1bhk or 2bhk apartment to 4-5bed room house 

if u can’t afford and ready for the luxury .. just don’t go for it .. bcos buying a house is a big commitment .. it can take up lives .. 

[TriStateBabu]

This is to TS, don’t cry over split milk ani antaru ga, you had a chance to buy a home early last year when interest rates were still low. You went into analysis paralysis listening to many opinions.

Arey bhayya it is your first home purchase, it is of sentimental value. Anni mooskoni konaka now you are crying foul, you lost a chance and you had ample time to buy early last year in austin or dallas. 
 

Enduku eyadam ilanti threads? To convince yourself that you did a good job by watching on the sidelines and not purchasing a home?

 

[KGFsutthi]

18 minutes ago, gudboy said:

there is no right time anna..if you both are working and can manage monthly payments if one you gets laid off go for it.

But end of the day evari money aina loss price ekkuva unnapudu konte waste ha anna, dhani badhulu india lo lands konukkovacchu 

[KGFsutthi]

4 minutes ago, perugu_vada said:

Buying an house is a luxury and it is an upgrade .. bcos u are moving from 1bhk or 2bhk apartment to 4-5bed room house 

if u can’t afford and ready for the luxury .. just don’t go for it .. bcos buying a house is a big commitment .. it can take up lives .. 

it can take lives aa Idendayya idhi 

[Guest]

29 minutes ago, Sonu_Patel said:

People who bought homes before pandemic are lucky enough and got combination of Low home prices and Low Interest rates refinancing options during the pandemic. 

- Ipudu unna situations lo Higher home prices and Higher interest rates (~7%) ki.. Home sellers/builders are still expecting high pandemic prices no matter the interest rates. 

- Unfortunately, people who buy this year with such higher Interest rates will be at higher financial risk! 

- Do not fall into trap for Bidding in the current market!

- Realtors will always keep pressure on home buyers to submit offers.

- Always calculate the monthly payment and your take home salary after taxes. Typically, the monthly home payment must be less than 30% of your take home pay. I bet this works out perfectly for people who bought at right price. 

- Real Estate is all about LOCATION LOCATION LOCATION. Focus on finding a home in a good area which has good access to Restaurants, Groceries, Work location if applicable. 

- If buying a pre-owned home, do the full inspection and find out if any repairs are required. Do not give blind offers. 

- If you have kids/plan to have kids.. look at school ratings on Great Schools or niche website. higher school ratings will always attract buyers. 

- More importantly, If the home current price is more than Double the home value before 2020. Do NOT buy because there is good chances for correction and you end up in life long wait to build that equity on home. 

 

Anna..idantha nuvve raasinava 😮

[Guest]

28 minutes ago, veerigadu said:

Most important. Athulllllluuu sariigaaa peragakka mundheeee Ethulaaakiii poyiiii peddhaaa gaaa undeeeee kompaluuuu konnodhuuu. Buy as per your requirements. Bigger homes tho bigger property taxes, high utility bills and more maintenance costs.
 

You can always buy bigger one in the future. don’t go beyond 2500sqft imo

Thaggede le anna #YOLO