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SVTPerformance's Chain of Restaurants
Road Side Pub
Housing Options
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<blockquote data-quote="7998" data-source="post: 16579161" data-attributes="member: 70541"><p>Well, I never thought about it but. They wanted $200,000 for the house. I had the 3.5% FHA down which which would've covered closing costs. A 30 year mortgage @ 6% would be $1200.mo + $75 HI and $400/ mo property taxes. In 2014 that house was worth $180,000 and I would owe $167,000. Also you have to factor in a realistic 15% for maintenance. So total out of pocket would've been $231,150+ my initial $7,000 down. If I sold the house in 2014 for $180,000 - 5% realtor and -1% PA transfer tax I would've netted $170,000 and left the table with $3,000 making my net outlay $235,150. </p><p></p><p> Instead I rented until 2010 for $1200/mo, saving $500/mo for a proper down payment and bought a nicer house in a better school district for $150,000 and put $40,000 down. so 6 years @ $1200/mo = $86,400. Wait wtf was the question?</p></blockquote><p></p>
[QUOTE="7998, post: 16579161, member: 70541"] Well, I never thought about it but. They wanted $200,000 for the house. I had the 3.5% FHA down which which would've covered closing costs. A 30 year mortgage @ 6% would be $1200.mo + $75 HI and $400/ mo property taxes. In 2014 that house was worth $180,000 and I would owe $167,000. Also you have to factor in a realistic 15% for maintenance. So total out of pocket would've been $231,150+ my initial $7,000 down. If I sold the house in 2014 for $180,000 - 5% realtor and -1% PA transfer tax I would've netted $170,000 and left the table with $3,000 making my net outlay $235,150. Instead I rented until 2010 for $1200/mo, saving $500/mo for a proper down payment and bought a nicer house in a better school district for $150,000 and put $40,000 down. so 6 years @ $1200/mo = $86,400. Wait wtf was the question? [/QUOTE]
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Housing Options
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