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I am buying a condo/townhome and which has a monthly association fee.($150) I am hoping usually it covers some exterior maintenance and insurance.

1)Do I need to see as what exactly they cover in there insurance and then buy an insurance for my home ?

2) Does HOA rules specify me as a home owner as what insurance I need to buy for my home ?

3) Or can I buy whatever insurance I need for my home ?

some assns do specific and all require it;
ask your car insurance firm. they have access to RE owners
insurance.

compare what it covers to what the assn needs covered and what
you want to cover

Currently have a second home (condo), but thinking about upgrading to a newer place, direct river view. The new condo has 3 BR, 3 BA, 2 car garage.

First you need to check your numbers. What kind of mortgage are you in? You could make it an interest only and check if the rent can pay the mortgage repayments. If the numbers work, it is probably the best time to buy a second home.

half empty shoping centers,stores,homes.condos.Sitll useing water and inviting crime.We don,t need more people until we can take of the people we have now.

Well, I think the underutilization of existing commerical and residental property is in part a result of people overestimating of the demand, resulting in overbuilding, resulting in an over supply resulting in underutilization.

Hamilton County. What’s hot/not, where’s hot/ not, how’s supply, demand, prices, rents, the mood? Thanks.

No real specifics regarding supply and demand for you but the real estate market there is not doing well. Cost of living is low but the title company I work for just closed their Indianapolis location because the market is so bad.

We would like to buy a house on Oahu…and ultimately live here full-time. We like Oahu because there is a little more going on in terms of restaurants, shopping, etc. – so please no answers saying "you should really look at this other island instead"!! We’d like to live bicycling-distance from the ocean. We’re interested in single-family homes not condos, and our taste runs more to Bohemian Beach Shack. No kids, so we don’t care about school districts. What neighborhoods would you recommend that we look at?

I don’t know about bohemian beach shacks – I haven’t seen too many beach shacks, bohemian or otherwise. But if you are looking to buy a single family home near the beach, you’d best be loaded. I’m thinking possibly windward Oahu north of Kaneohe might work for you, that would be places like Waiahole, Waikane, or Kaaawa. I think that is one of the less pricey areas. The leeward coast will also be less, but it isn’t a good place for someone fresh off the plane to acclimate to life in Hawaii. The north shore is nice, but expensive near the water.

hi, I just bought a condo, and I want to rent two extra rooms out. It is my primary residential home. What is the best way to handle the rental?
Thanks.
What can be expense in schedule E? Like repair, cleaning, or regular utility, HOA? Will it affect my tax deduction on my mortgage? Or anything when I sell my house?
Thanks

When you file your 1040, you would also file a Schedule E with it, and you can report all rental income and expenses on the Schedule E.

OK, To all those people. I have 1 simple question.

How can you guys afford the rent? I mean. Im going to move to New York soon or maybe los angeles. Im looking for a single bedroom condo/apartment. I’ve been looking at some and there around $400,000.00 for a single bedroom. How can someone pay that off working in a factory/store getting paid $10.00 a hour? Is there different payment plans out there or what?

PS. Just a question. I really wanted to start my own life without any help from my parents but since Im not going to be able to afford a $500,000.00 apartment in NY, my parents are going to sell one of there homes to get me an apartment.. But if you guys know if theres any payment plans i would like to know…So i can try to live on my own without help. Many Thanks!
I fell your pain Aurora. My parents house here in the mid-east is a 40,000SQ house with 9 bedrooms and 15 baths. They built it 2004 for around 3M. Its funny how our beach house in Malibu is around 1,000SQ with 3 bedroom and single bath but its almost twice the price of out own home! California is such a beautiful place to live but the rent is hell!

Easy your family seems rich. Go to college in your hometown,forget nyc its not worth it.
What I dont get is you said you dont want any help from your parents, but they are going to sell there house so you can get an apartment? That dont make sense, your going to have them buy you a condo or something.

They are helping you already.

I am thinking of buying townhouses, small homes, and condos and then renting them out. BUT before I do I want to know the advantages and disadvantages of buying and then renting it out. How much profit do sellers/buyers usually make.

A lot of planning is needed to make this a successful venture. Know who your target renters are before you buy a property. Understand what the going rate is for similar properties. Figure out how much this will cost you (i.e. property taxes, repairs especially after tenants leave, advertising, utilities when you do not have tenants, mortgage payments, insurance, etc….). One big disadvantage is that you may end up with a bad tenant (late with checks, creating problems with neighbours, disregard for your property, etc…) and it may be difficult to get rid of them. However, a good advantage is that you have full control over your investment (unlike the stock market).

My boyfriend and I want to buy a home( condo, or house). My credit score is 635 and his is 607. I have been in my job 5 months, he has been at his job 3 years. Can we qualify for a mortgage?

Most lenders are requiring at a 620 mid score right now. The best bet is to work on his credit which really shouldn’t take much. There are things that can be done to increase scores in a matter of days not months.

how many still havea mortgage? that own a home, condo or town home?

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