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38
CBETA
@
2010 May 9, 3:10pm
CBETA
@
2010 May 9, 3:10pm
seaside,
I would not plan to sell the house I purchase, for no good reason.
Yes, if I can no longer afford it, I will sell. Otherwise, I'd like to live there. Unless of course I am able to upgrade and/or keep it as investment and live in a better one.
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A few words about self: Single gal, looking to purchase for the first time, top rated excellent credit, solid salary and employment, savings for down payment, foreign born but brought here as a child in high school. Another words solid buyer with pre-approval and all.
If I purchased: I want a 3B/2B with 1200sqf at minimum.
a. Buy now in a area which is not the very best (schools ok, train tracks which will host BART in the future are 2-3 streets away)I can afford but at 3x my salary. Allow renters or live there myself.
b. Continue renting and saving to buy with a shorter term, thus saving on interest and accumulating principal fast.
My situation is that TODAY I am single, 1B1B is enough for me. I don't want to think I will marry a guy with a house. Suppose I want to be a single parent. Shall I rent till then? I've played with the compare calculators: When I compare $$ for 1B1B vs a house, then the answer is Rent, if I compare the cost for 3B2B vs a house with same rooms, then it is about the same.
After reading a bit: I feel like I shall wait till I need to pay for 3B2B and then make decisions, now I am better off saving. (the only scary thought that I may not afford anything except renting a 2B2B then, if prices go up)
What do you think? I am interested in your opinions.....