Oh yeah I should have added that the adverse possession law is actually in several other countries not just the United States it originated from France if I'm not mistaken in the early 1500s I believe anyways I would check your country to see if adverse possession was there because there are times when you can actually take someone else's property if they are not keeping it up or don't know that on it or just don't care about it
At the moment no matter where we buy, even if we don't change anything when we sell we will profit. But yeah at the moment the market is rough, people are buying without actually going and looking at the houses.
Yeah, those houses are going to be rented, rezoned, or used for gentrification. If you're in an area being gentrified, ride the wave for about 5-10 years and then sell. It's a money grab, buy low, artificially increase property value, especially through getting the city/county/state to initiate public works projects, sell at the high point and do the same to a new area.Go to the permitting/zoning office and drop a little money on the floor to see the areas going through the most change, or rather requesting the most changes to the norm. That's where you want to buy, even if you don't want to live there you'll get a higher offer soon to make your home fit the model of the community they want to build as you won't be part of the covenant or what not.
Possibly not rented there's 50k+ people that have just moved back here because of covid, they have money from living overseas and just want a home so they buy anything anywhere. Im not sure that's how it works around here, property value is just going up without anyone doing anything to fix up a place. The house I viewed yesterday was sold in 2013 for 123k and is now on the market for 435k
Fuck, so, there's merit in arson so you can buy a vacant lot...
Literally could buy a plot of land and plop a house on it fir cheaper. But then there's all the other costs 😂
I would think the other costs would still come to under 450k. Then again I've never been to New Zealand.
Yeah housing prices are insane here. A million dollar home just looks like a standard 3 bedroom house
Hopefully that million dollars is in Costa Rican Colonnes aka, like 3k US lol
Yeah in my country people like you are the reason why people like myself struggle to own a home
Awww... Boo Hoo! Then build ambition then instead of being sour grapes!
@DeeDeeDeVour 👍 That’s actually inspiring! 👌 You are! 👍
Building ambition doesn't make house prices go down 😂😂
How unfortunate... . . . for you! LOL! :D
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I think the process is probably a lot different here than it is over there
Annoying how hard it is right nos
Like everything in life somethings are going to be a challenge. As for the world nowadays we’re going threw a pandemic & although mortgage rates are at an all time low where I live mortgage companies are not handling out loans like they use to & the requirements got a lot harder.
It always say if it was meant to be it will happen & I know your day will come & you’ll be sitting in a beautiful home.
Definitely won't be a beautiful home, can't afford that and never will be able to unless we get on the property ladder.
Any home can be a beautiful home if you make it that way & any home is a beautiful home when you are in it.
I live in New Zealand not the usa
Yes but you can do the same can't or are you saying there are no fixer uppers there
There is but they don't sell for much cheaper than a house already done up at the mome
Yes it's about location to it's hard to find a fixer upper. In a good area where the houses are selling for a good price you don't want a fixer upper that all houses around it need to be fixed up to maybe find a ranch house that has land barns and added things that are good sell ing points. But the house needs to be fixed but you have to look at everything that is going to need to be done,, and being able to do all the work yourself is where you make the best money
We are getting help from family otherwise it wouldn't be possible until our 40s if not later
I mean getting a mortgage, and it's not the rest of your life I know many people who have paid it off
I'm currently renting which is why im looking at buying a house.
They're never going to come down here...
Okay. I concede that some markets are like that.Do you REALLY want to live there? Do you want it bad enough to throw money away?
It's not throwing money away? Buying into a market where the prices are going down would be throwing money away. This way we are definitely going to make a profit
@offendedsorbet You only make a profit when you sell the house (if it sells for more money than you bought it for).How long are you planning to keep your house?
I know and with the market at the moment (in my country) you would make a profit. We would be there 3-5 years. Housing prices here have more than doubled in less than a decade
@Jamie05rhs why are you being so harsh and insulting. First time home buyer just looking for advice and you call her and idiot? God I would hate to be your kids trying to do homework. Yes math and science work together, what are you an idiot?
"Housing prices here have more than doubled in less than a decade". @offendedsorbet Past performance is no guarantee of future results. They could take a dip immediately after you signed on the dotted line, and you wouldn't be able to do a thing about it."We would be there 3-5 years.". That's a terrible homebuying strategy. If you're not in it for the long haul, don't buy. What happens if you hit the 3 year mark and you still haven't turned a profit? Are you going to still move and take the loss? You may not be able to. The bank may not finance you for a new property.
@NyceGuyFinishingLast Fine. You give her the sugarcoated version. Tell her what she wants to hear. I hope you're also willing to be on hand to comfort her when it all comes crashing down (because she followed YOUR advice.)
I didn't give any advice. But insulting someone is not the proper way to handle giving advice. What were you toilet trained at gun point? I am not what to sugar coat anything just ask my kids. I am as real as life gets. You are just an asshole.
You obviously have no idea about the market here. House prices will never go down like that here unless there is a major economic to put it lightly shit show. 3-5 years is enough time to fix up a house and then resell for more profit to move somewhere bigger and better. The first home is just a stepping stone to get on the property ladder, if we can find somewhere we would love to spend the next 20 years then that's great but with our budget at the moment that is unlikely.
I'm just looking anywhere in my city that's a reasonable commute time to the main city centre
The best things you can do are:1) be "ready". In a bull market, have your loans lined up, your earnest money available if needed.2) don't get into a bidding war. 3) try and find a motivated seller. 4) consider a fixer-upper if the value is there5) ALWAYS get an inspection from by a really thorough, anal, picky inspector. Make sure that includes any gas (radon) or other pollutants that you need to know about6) ** It's always better to get a smaller place in a good or great area, than a larger place in a bad area ** - Why? Living environment and RE-SALE value.
Yeah we are looking at a small place that is livable but needs a little work. But not too much. The market at the moment is increasing and we would make profit no matter what we do.
Can't exactly sell a home before you own it
You can on commission... I've sold Rolexes, shares and exotic cars on such deals before and my next venture might get me the opportunity to do it for property
Rich people pay the most tax in my country...