Is $30,000 enough to buy a house (USA)?

[Anonymous]

I have $30,000 in savings. I want to buy a house in America. Can I have one of the houses called Townhouse? Is this budget sufficient? Where would you recommend I buy a house from?(Please suggest a safe situation)

[BarryLiverstone]

No I’m most locations you can’t buy a house for under $100,000. If you don’t wanna pay rent it’s best to find a real estate company and they can help you buy a house. If you are new to the United States be sure to work with your new bank here to get a loan and they can assist you with buying a house or a condo.


Does that help?

[BarryLiverstone]

www.rocketmortgage.com/learn/how-to-buy-a-house

[Asker]

Yes thank you. I found one such ad in New Jersey. Why is it more affordable than other places? I don't know anyone in America and it would be bad if I got scammed. Do you think this monthly rental price is suitable for savings?

[BarryLiverstone]

Property values in the USA are mostly based on location. For example a neighborhood closer to good schools and commerce is more expensive than houses out in the country with longer commutes.

Yes if you are just coming to the USA it may be best to commit to a one year lease at an apartment. That way you can meet people and better feel safe in finding a house. You mentioned moving here to teach; go ahead and ask your new school and coworkers for recommendations on where to find an apartment near your new job.

[Asker]

There are studio homes worth $1,000 a month in NJ, why are they cheap?

[Asker]

Thank you🙏🏼🙏🏼🙏🏼

[BarryLiverstone]

That $1,000 is likely a monthly rent or mortgage payment. One reason to come here and choose is some places can be very run down or in dangerous neighborhoods. If you notice the average rent of your city is much higher than $1,000 that’s a clue those studios are not the safest places to live

[BarryLiverstone]

www.zillow.com/rental-manager/market-trends/nj/

Says the average rent is $2,400 so I would be careful if a place is advertising $1,000

[Asker]

Oh thanks so much for the advice 🙏🏼🙏🏼🙏🏼

[BarryLiverstone]

You are welcome. Feel free to send me a message if you need any more help and you will be great !

[Asker]

Very kind of you. Thanks! 🧡

[bean2k21]

If you want to be safe then, give me the $30,000. I'll get you some land in Virginia and build you a shed on it. Then I'll invest the rest in marijuana seeds and you can also work for free growing it.

[Asker]

good offer! 😄

[bean2k21]

Also, you can call me "Master." It will be so much fun!

[midnightmoon05]

All depends:

1 what city? - high crime cities…$30k sure you can something

2. New Jersey? Bad areas like beware NJ - $100k

3. expensive cities… million Americans more.

coming to a new place… like others said.. rent for a year. Get to know the area.

[XiJinping]

If somehow you manage to find one for that price, you better lock yourself in and never come out.

You're better off renting a small studio apartment and keep saving.

[Asker]

Thank you for advice

[XiJinping]

Sure

[XiJinping]

Thanks for the MHO.

[NotTacocaT6969]

A house that needs 100,000+ of work done plus inspections before you’re allowed to live in it maybe.

[Asker]

Thanks

[Sparkie460]

You might be able to use it as a down payment on a condo or a town house. It depends on which state you want to move to

[Anonymous]

A down-payment maybe. You might be able to get a house for that amount in poor parts of Mississippi.

[Anonymous]

Maybe enough for a down payment on a townhouse in North Carolina where it’s cheaper, but it’s not enough here in New York for anything

[Asker]

Uhmm you are right. I would prefer that instead of paying rent. I'm a little confused. I'm coming to America as a teacher and I don't want to pay rent.

[Opinion Owner]

Can’t even buy a trailer home for that anymore either, you’ll either be renting or paying a mortgage and it really depends on location and how good the schools are in the area on the price of homes

[Asker]

You are right, thank you for your time.

[gorydetails]

It’s enough for a down payment.

[MysticDevice]

More than enough for a down payment.