To buy or to rent ARM vs Fixed

[barnaby33]

If you’ve read the realtors comments it seems like renting is hands down the better way to go. If you are going to be spending that kind of money, do you really want to be rushed to find something? The market may be soft at your price point, but that just means you are going to be that much pickier.
Josh

[kcal09]

We immigrated 20 years ago and rented first to get a feel of the neighborhood. Don’t be concerned about paying rent first, it’s money well spent. Also, why not rent something smaller first and save some money? Once you have a good credit score you should be able to get a mortgage with a decent interest rate. The home prices won’t go up any time soon and the interest rates will remain low for a while.

[kcal09]

We immigrated 20 years ago and rented first to get a feel of the neighborhood. Don’t be concerned about paying rent first, it’s money well spent. Also, why not rent something smaller first and save some money? Once you have a good credit score you should be able to get a mortgage with a decent interest rate. The home prices won’t go up any time soon and the interest rates will remain low for a while.

[kcal09]

We immigrated 20 years ago and rented first to get a feel of the neighborhood. Don’t be concerned about paying rent first, it’s money well spent. Also, why not rent something smaller first and save some money? Once you have a good credit score you should be able to get a mortgage with a decent interest rate. The home prices won’t go up any time soon and the interest rates will remain low for a while.

[kcal09]

We immigrated 20 years ago and rented first to get a feel of the neighborhood. Don’t be concerned about paying rent first, it’s money well spent. Also, why not rent something smaller first and save some money? Once you have a good credit score you should be able to get a mortgage with a decent interest rate. The home prices won’t go up any time soon and the interest rates will remain low for a while.

[kcal09]

We immigrated 20 years ago and rented first to get a feel of the neighborhood. Don’t be concerned about paying rent first, it’s money well spent. Also, why not rent something smaller first and save some money? Once you have a good credit score you should be able to get a mortgage with a decent interest rate. The home prices won’t go up any time soon and the interest rates will remain low for a while.

[streak]

Many thanks to you all.

We have spent some time in SD and know a little about the area but I guess coming on holiday and living there are 2 different things!!

We arrive on Thursday and will spend the following weeks finalising the kids school, getting driver’s licences, SSN’s, insurance, cell phone contracts etc. etc.

[streak]

Many thanks to you all.

We have spent some time in SD and know a little about the area but I guess coming on holiday and living there are 2 different things!!

We arrive on Thursday and will spend the following weeks finalising the kids school, getting driver’s licences, SSN’s, insurance, cell phone contracts etc. etc.

[streak]

Many thanks to you all.

We have spent some time in SD and know a little about the area but I guess coming on holiday and living there are 2 different things!!

We arrive on Thursday and will spend the following weeks finalising the kids school, getting driver’s licences, SSN’s, insurance, cell phone contracts etc. etc.

[streak]

Many thanks to you all.

We have spent some time in SD and know a little about the area but I guess coming on holiday and living there are 2 different things!!

We arrive on Thursday and will spend the following weeks finalising the kids school, getting driver’s licences, SSN’s, insurance, cell phone contracts etc. etc.

[streak]

Many thanks to you all.

We have spent some time in SD and know a little about the area but I guess coming on holiday and living there are 2 different things!!

We arrive on Thursday and will spend the following weeks finalising the kids school, getting driver’s licences, SSN’s, insurance, cell phone contracts etc. etc.

[looking]

[quote=streak]So, should we from the outset buy a home for cash and not be concerned with mortgages and interest rates, re-financing down the line, or do we still rent, paying for 6 months in advance at a time waiting for a decent credit score in order to get a mortgage and at the same time be at the mercy of a landlord paying upwards of $4000 per month for something that will never be ours?

We cant be the first new immigrants with this problem, how have others dealt with it?[/quote]

You are probably correct that with no credit history in the US it will be difficult to get a mortgage but you shouldn’t have to pay 6 months in advance to rent. I know many many people who have come from overseas who immediately rent a place. All the foreign postdocs for UCSD and Scripps find housing. I also know executives from overseas who rent >$10,000/month houses (in the LA area). And as you said, coming on vacation and living here are completely different things.

[looking]

[quote=streak]So, should we from the outset buy a home for cash and not be concerned with mortgages and interest rates, re-financing down the line, or do we still rent, paying for 6 months in advance at a time waiting for a decent credit score in order to get a mortgage and at the same time be at the mercy of a landlord paying upwards of $4000 per month for something that will never be ours?

We cant be the first new immigrants with this problem, how have others dealt with it?[/quote]

You are probably correct that with no credit history in the US it will be difficult to get a mortgage but you shouldn’t have to pay 6 months in advance to rent. I know many many people who have come from overseas who immediately rent a place. All the foreign postdocs for UCSD and Scripps find housing. I also know executives from overseas who rent >$10,000/month houses (in the LA area). And as you said, coming on vacation and living here are completely different things.

[looking]

[quote=streak]So, should we from the outset buy a home for cash and not be concerned with mortgages and interest rates, re-financing down the line, or do we still rent, paying for 6 months in advance at a time waiting for a decent credit score in order to get a mortgage and at the same time be at the mercy of a landlord paying upwards of $4000 per month for something that will never be ours?

We cant be the first new immigrants with this problem, how have others dealt with it?[/quote]

You are probably correct that with no credit history in the US it will be difficult to get a mortgage but you shouldn’t have to pay 6 months in advance to rent. I know many many people who have come from overseas who immediately rent a place. All the foreign postdocs for UCSD and Scripps find housing. I also know executives from overseas who rent >$10,000/month houses (in the LA area). And as you said, coming on vacation and living here are completely different things.

[looking]

[quote=streak]So, should we from the outset buy a home for cash and not be concerned with mortgages and interest rates, re-financing down the line, or do we still rent, paying for 6 months in advance at a time waiting for a decent credit score in order to get a mortgage and at the same time be at the mercy of a landlord paying upwards of $4000 per month for something that will never be ours?

We cant be the first new immigrants with this problem, how have others dealt with it?[/quote]

You are probably correct that with no credit history in the US it will be difficult to get a mortgage but you shouldn’t have to pay 6 months in advance to rent. I know many many people who have come from overseas who immediately rent a place. All the foreign postdocs for UCSD and Scripps find housing. I also know executives from overseas who rent >$10,000/month houses (in the LA area). And as you said, coming on vacation and living here are completely different things.

[Author]

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