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

[Sonu_Patel]

6 minutes ago, TriStateBabu said:

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?

 

I wrote my opinion vayya.. lets not talk personals .. take it easy

[Sonu_Patel]

3 minutes ago, Guest said:

Anna..idantha nuvve raasinava 😮

raasina anna 

[Guest]

18 minutes ago, Sonu_Patel said:

raasina anna 

Your ferformance is improved anna..nice write up

[gudboy]

30 minutes ago, KGFsutthi said:

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

you cannot time the market..if you want to enjoy home ownership and don't think of selling for next 10 years then nothing matters as long as it is affordable

[reality]

37 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 .. 

take up lives emundi …. kone mundhu manchi resale area lo konte… malli ameyochu… burden feel ayithe… ani recent ga 3rd house konna @TOM_BHAYYA antunde….

[veerigadu]

46 minutes ago, TriStateBabu said:

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?

 

Nuvvu kattedhiii anthaaa interest yeee for the last 1 or 2 years. Whenever you brought.
 

Avthalaaavoduuu avvaniii save chesiii ekkuvaa down payment   Kodthaduuu. Interest is an issue only if you borrow more. Andaruuu akkadikeee vastharuuu malliii. Idanthaa @niranthrapakriya

[cameraman]

49 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 .. 

@perugu_vada But all the rent goes for waste.. you can build some equity with mortgage payments.  

[TriStateBabu]

3 minutes ago, veerigadu said:

Nuvvu kattedhiii anthaaa interest yeee for the last 1 or 2 years. Whenever you brought.
 

Avthalaaavoduuu avvaniii save chesiii ekkuvaa down payment   Kodthaduuu. Andaruuu akkadikeee vastharuuu malliii. Idanthaa @niranthrapakriya

If I remember correctly, ts had good amount in hand for down payment. I still don’t get why he did not purchase last year. Now all these threads esi em laabham? This is a good example of analysis paralysis.

Interest antara, yes you pay it tappadu loan theeskuntey, you can always pay more towards principal at any time .

First home is a sentimental value and he missed his chance in a good stable market like dallas . 

[cameraman]

2 minutes ago, TriStateBabu said:

If I remember correctly, ts had good amount in hand for down payment. I still don’t get why he did not purchase last year. Now all these threads esi em laabham? This is a good example of analysis paralysis.

Interest antara, yes you pay it tappadu loan theeskuntey, you can always pay more towards principal at any time .

First home is a sentimental value and he missed his chance in a good stable market like dallas . 

@Sonu_Patel has 200k cash in hand , just trying to time the market ani thelusthundi

[sarfaroshi]

1 hour 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. 

 

Nuvvu edo oka Rojju Illu kontav Sonu Annayya Kontaavvv...

 

[veerigadu]

7 minutes ago, TriStateBabu said:

If I remember correctly, ts had good amount in hand for down payment. I still don’t get why he did not purchase last year. Now all these threads esi em laabham? This is a good example of analysis paralysis.

Interest antara, yes you pay it tappadu loan theeskuntey, you can always pay more towards principal at any time .

First home is a sentimental value and he missed his chance in a good stable market like dallas . 

I respect people who over analyze. They are far better compared to people who has a herd mindset. But anyways, I hear your point. 

[KGFsutthi]

29 minutes ago, gudboy said:

you cannot time the market..if you want to enjoy home ownership and don't think of selling for next 10 years then nothing matters as long as it is affordable

Next 10 years aa okay bro okay okay 

[SNOW_MEGA]

rendu chesevalla gurinchi kuda cheppandi

kontha mandi 4 kuda chestharu 

[cameraman]

@Sonu_Patel

The Business Insider report says homeowners who bought before the pandemic have significant equity and are locked into low mortgage rates they're unlikely to match.

[TriStateBabu]

22 minutes ago, veerigadu said:

I respect people who over analyze. They are far better compared to people who has a herd mindset. But anyways, I hear your point. 

Nope generalizing people as herd mindset when interest rates were low is wrong imo. For a first time home buyer it was a good opportunity to buy a home.