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Old 09-10-2004, 07:31 PM   #31
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Quote:
Originally posted by Chizip

its time to get out of my parents house and i dont want to rent because i just feel like its throwing money away, when you buy something at least you have something to show for it

and since i have been with my parents for a little while i have some money saved up, so that is nice

funny, this sounds just like what I think and what I am doing. Best of luck with the condo! Keep me/us posted.
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Old 09-10-2004, 07:34 PM   #32
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That's smart and the right thing to do. I've been throwing my money away for 6 years now
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Old 09-10-2004, 10:02 PM   #33
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Quote:
Originally posted by Sicy
Does anyone know if you can get tax deductions and equity on manufactured homes?
My housemate is a mortgage loan officer and he's sitting right here and says you'll get a tax deduction like everyone else. He also said it's a little more difficult to get a loan for a manufactured home but if you have good credit you should be fine.
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Old 09-10-2004, 11:03 PM   #34
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Well actually I just had a mobile home lender run our credit (it is excellent) and we qualify for a $195k loan, which is great since most of the cool houses are only $100k.

But we still need to do a lot of reseach. Still undecided between that or a condo. From what a few people have told us, a condo is a better investment for the long run and no lot space rent to pay. But they are also more expensive. *sigh*


I wonder if the loan amount we qualify for a mobile home would be different if it were for a condo. It would be cool if it were more.
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Old 09-10-2004, 11:10 PM   #35
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Its not just how much the banks will lend you but also how much are the repayments. If the banks provide more finance are you able to make the repayments? What about if the interest rates increase?

/accounting lecture : lol:
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Old 09-10-2004, 11:38 PM   #36
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What do you mean by repayments
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Old 09-10-2004, 11:46 PM   #37
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repayments = the bit of money you have to pay each month to pay of the loan eg the bank wants you to pay $1000 a month for 25 years.

The repayment increases with the size of the loan.

The repayment also increases with the interest rate.

What do you call it in the USA?
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Old 09-11-2004, 12:10 AM   #38
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Oh ok .. the mortgage payment you mean, I think
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Old 09-11-2004, 12:14 AM   #39
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Yes, we call them mortgage repayments here cause your repaying the money back to the bank as it was originally theirs.

USA English is soooo weird. lol
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Old 09-11-2004, 06:16 AM   #40
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you can buy a ton of beautiful homes and townhomes here in Atlanta for $195K
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Old 09-11-2004, 08:56 AM   #41
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you can buy 50-year old dumps for $800K here
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Old 09-11-2004, 09:00 AM   #42
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Quote:
Originally posted by Sicy

From what a few people have told us, a condo is a better investment for the long run and no lot space rent to pay. But they are also more expensive. *sigh*
I'm having some neighbor issues already in my condo so that's something to keep in mind. Newer ones should be more soundproof, though. But I find I feel very restricted in not being able to play my music loud (and I definitely don't want to hear anybody else's music) and everytime a friend smokes in the yard I hear windows shutting. That's been a pretty difficult adjustment for me coming from a big house with a big private yard and zero neighbor issues. But I just have to work with it because I do think this investment is my stepping stone to what I really want.
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Old 09-11-2004, 09:24 AM   #43
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Quote:
Originally posted by nbcrusader
you can buy 50-year old dumps for $800K here
California is too expensive.

Here is an example of $190K home in the ATL
*this is one of the many examples of the style of townhomes that I am looking at*





Here is an example of $800K home in the ATL
*this one is $729K*

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Old 09-11-2004, 10:33 AM   #44
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omg

You cant buy shit here in CA for 195k except a mobile home.
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Old 09-11-2004, 06:55 PM   #45
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I guess it is the price of low humidity and fewer bugs.....
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