#house

Am I doing the right thing buying a house cash?

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Am I doing the right thing buying a house cash? My personal investment portfolio has done well enough that I can sell most of it to buy a house cash. But should I? I’ll be left with about 10k cash and 20k stock left over after paying capital gains taxes. This is separate from my 401k which has about $500k in it. I’m 38, married filing jointly, and we have no debt, AGI about 170k. Or do I take…

Reddit Personal Finance 944 2024-11-14

Can I buy a house for my parents abroad?

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Can I buy a house for my parents abroad? My uncle wants to sell me (24M) his house ($93k USD) in Mexico. I’m inclined to get it for my parents, but this quick offer caught me by surprise. How do I go about making this purchase? Current Breakdown of Finances: $85,280/yr Monthly Take Home – $4,454 Monthly expenses: ~$750 755 Credit Score – According to Experian $15k Credit Card Debt …

Reddit Personal Finance 1.2k 2024-11-13

Is there something wrong with not really wanting to buy a house

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Is there something wrong with not really wanting to buy a house I’m 25 yrs old, I make about 110-130k a year depending on OT. Ive been renting for about 4 years. I currently split rent with my gf and I pay about $1100 a month and have a $300 car payment. Lately I’ve been hyper focused on saving, and paying off debt (I owe about $9200 on my car). I’ve been making double or even triple payments on my car some …

Reddit Personal Finance 529 2024-11-13

Buying a new house and concerned about getting a loan if my existing house doesn’t sell. Am I worried for nothing?

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Buying a new house and concerned about getting a loan if my existing house doesn’t sell. Am I worried for nothing? So we put a deposit down on a new home build and I’m worried about what will happen if our existing home doesn’t sell by the time the new home is built. Here are the numbers – New home – $800K, Deposit paid – $160K Due at closing $640K Existing home for sale $1,325.000 (Real estate agent suggested a $1.4 listing price) Mortgage remaining – $350…

Reddit Personal Finance 1.1k 2024-11-12

New to buying a house.

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New to buying a house. My partner and I are new to the process of purchasing a house. I have a good credit score in the 800s, specifically in the low 790s. I maintain a savings balance of approximately $10,000. Unfortunately, my partner’s credit score is not as high, around 640, and she struggles with saving money. Occasionally, she sends me funds to save on her behal…

Reddit Personal Finance 740 2024-11-11

What to do with house sale proceeds?

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What to do with house sale proceeds? Selling home, which should net around $120-130k without any capital gains or tax liability incurred. Background: Couple with child. Student loan debt: $17k student loans (combined) Consumer debt: $0 Joint salary: $130-140K net (after taxes / deductions). No intentions for purchasing another home at minimum a few months. Were at a loss on wha…

Reddit Personal Finance 536 2024-11-10

Just inherited a house, what do I do next?

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Just inherited a house, what do I do next? I am 20F. I just inherited a house from my father (who passed away) about a week ago. The house is severely dilapidated and would require several tens of thousands of dollars to repair in order to live in or rent out. I do not have the money on hand to do the repairs. The property itself is 0.25 acres (10,890sqft) in a desirable neighborhood. T…

Reddit Personal Finance 1.2k 2024-11-08

Inheriting my father’s house and putting up for rent, or sell and reinvest in S&P 500?

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Inheriting my father’s house and putting up for rent, or sell and reinvest in S&P 500? I would have to take out a $130K loan for repairs and to pay off the principal. Guaranteed monthly income later. Which of these investments makes more sense? Market would probably give better returns over time, but it’d be more risky if there’s a downturn/crash. submitted by /u/NovaSe7en

Reddit Personal Finance 576 2024-11-07