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  • October 12, 2007 at 9:55 AM in reply to: how big of a mortgage will i be able to afford if ……. #88420
    Vishon
    Participant

    With your financial situation, quite a bit of cash but less income, would it make more sense to purchase something around $300k with cash?

    This way the monthly expenses is cut drastically, which will put less stress on income.

    October 12, 2007 at 9:55 AM in reply to: how big of a mortgage will i be able to afford if ……. #88414
    Vishon
    Participant

    With your financial situation, quite a bit of cash but less income, would it make more sense to purchase something around $300k with cash?

    This way the monthly expenses is cut drastically, which will put less stress on income.

    October 4, 2007 at 6:19 PM in reply to: Real Estate Investment #87018
    Vishon
    Participant

    I started thinking about this topic after considering my home ownership situation.

    I am currently renting and saving up for a home purchase. It occurs to me that after the market stabilizes, I could put the savings into a nice home costing $500k, or buy something less expensive and buy another condo as an investment property.

    The latter makes more sense to me…

    October 4, 2007 at 1:56 PM in reply to: Real Estate Investment #86983
    Vishon
    Participant

    Very interesting. My calculation wasn’t precise enough. Thank you all for the feedbacks.

    One question, How’s LR computed?

    As the price continues to drop, the return gets better and better? Assuming the rent cost stays approximately the same.

    I still don’t quite understand the difference between SFH and condo. Seems like $/sqrt wise condo is more expensive, which makes it worse as primary residence, but better as investment property?

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