Quote:
Originally Posted by covingtoncat73
Housing, housing, housing! My mother is a retired Realtor and lives with me in a house she owns that I rent from her (I was renting it before she moved in after my stepfather died and still pay nominal rent).
Anyway, since my work is closing this satellite campus near my home, I'm going to have to start commuting again or move and Mom is going all Real estate-powers, activate. What I am worried about is that, if I don't use the first-time-homebuyer stuff I'm eligible for (I think), she might sell her house in a parish (read county) over and buy something herself. I don't want her to do that. It is bringing in good rental income, it is in good condition, and selling it would be a bit of a loss at this point.
I kind of am interested in the idea of buying something because of the first-time stuff is pretty good around here (a nice soft-second mortgage program), the rents are sky-high but there are deals to buy, and I've gotten used to not commuting.
It is just so much to think about and I need that soft second as I don't have down payment money. Mom would spot me for the deposits on utilities and stuff, since she would be moving with me.
She might just sell Hammond anyway to buy something to rent to my brother or something as their rental situation is not good and they're having their third child in June.
Anyway, to give you an idea of how much there is to worry about...
Might be kind of scary neighborhood but it would take care of two birds with one stone (if you read the description, it has 2 beds and three baths on each side), if my California-princess sister-in-law wouldn't be too scared to live there (well, I might be too scared to live there, so I shouldn't mock).
http://www.zillow.com/homedetails/26...15015407_zpid/
This one, like the other, isn't one of our nice, older houses and it is a single but it is in a pretty nice neighborhood (as good as I'm likely to be able to afford). However, it is a HUD property and they have scary notes about the plumbing and it is "as is."
http://www.zillow.com/homedetails/55...73787979_zpid/ |
Housing is so cheap in the US compared to Canada (low end housing anyway)
I couldn't buy the garage where I live for that price.
Speaking from experience, you can't go wrong buying property if you can afford the mortgage payments. And mortgage payments are tax deductible?
Helen