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Buying a Home in USA

Discussion in 'General Discussions - USA & Canada' started by sanravi_1970, Apr 2, 2010.

  1. sanravi_1970

    sanravi_1970 Gold IL'ite

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    Ladies

    Is this topic discussed here.I did a search,but cudnt find much discussions relevant to buying in USA. If its not discussed already,why not we do here like

    Tips for first time home buyers
    Pros/Cons
    Mortgage,Taxes,Insurance
    Down payment and related stuffs
    Closing costs etc..


    Thanks
    San
     
    Last edited: Apr 2, 2010
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  2. SriVidya75

    SriVidya75 Platinum IL'ite

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  3. sanravi_1970

    sanravi_1970 Gold IL'ite

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    Hi Srividya
    Thanks for the link , i went thro this link already, but wanted more information, so started a thread here. Anyways i need to go thro some more link provided there.
     
    Last edited: Apr 2, 2010
  4. Purohit22

    Purohit22 New IL'ite

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    Hii sanravi
    we are also planning to buy a house in USA.
    It can be useful thread lets hear the views from our friends.
     
  5. Purohit22

    Purohit22 New IL'ite

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    Hi sanravi
    We are also planning to buy a new house in USA.This can be useful thread,lets c the suggestion that would help us in our decision.
     
  6. Mylifeatusa

    Mylifeatusa Silver IL'ite

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    Hi sanRavi,

    Thank you for starting the thread..

    we are also planning to buy home in USA in 2015 and I would love to have some info on that.

    like where to start and how to proceed, pros and cons of it.
     
  7. DKI

    DKI Platinum IL'ite

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    Hi, Having bought homes twice in the US, I can offer you some advice only on one issue....planning the budget to which you can comfortably adhere. Many friends made the mistake of buying a home for the full amount that the bank would approve them for. For example, if looking at your credit history and debt ratio, if your bank approves you for a loan of $400K, don't buy a house for that amount. What many first time homeowners don't realize is that living in a home is much more different than apartment living.

    You have to take into consideration the fact that along with owning a home comes the maintenance of it. Everything you touch at home costs money. You have to furnish a house (apartment furniture ends up furnishing only a fraction of the home). Check what you are spending on a monthly basis now. See how much more you can spend without feeling like a noose is tightening around your neck.
     
    9 people like this.
  8. ssasi

    ssasi Silver IL'ite

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    Hi Friend's

    I would like to join the conversations in this thread. We r a first time home buyer's. My dh is in H-1 but got approved for G.C. The G.C . process is in Eb2. V filed it last yr. It may take 5-6 yrs. I am a home maker. V have been living in U.S. for more then 10+ yrs in an apt. Due to change of jobs, v have moved to 5 diff. apts so far.I am really tired of moving to 2 bedroom apts ,anymore. I have 2 kids & with the growing family, v need more rooms,so started looking for homes. V r planning to settle down in Houston. My dh loves his job here.

    I think, gave u a long intro, about our family. V approached a realtor for our house-hunt. She introduced us to a master planned, new construction homes. V saw few of the model homes. V like the community, schools, other features & close to my dh work. So v r have signed a contract with a builder.

    It is a new experience, v r also in the learning process. So, friend's keep posting u r opinion's/suggestion's here.
     
  9. curiousgal

    curiousgal Bronze IL'ite

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    Very good advice. I do not own a house in the US, nor do I plan on buying one (I dont intend to stay here), but the advice offered makes perfect sense to anyone planning to buy a house, be it here in the US or anywhere else. Thanks for the same. :2thumbsup:
     
    1 person likes this.
  10. Mylifeatusa

    Mylifeatusa Silver IL'ite

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    Hi DK1,

    Thank you for your reply. With your experience can you guide me please ..

    Right now we are paying 900 as rent including utilities for a two bed room flat(cost of living is less in my area though).

    we are planning to settle here as we both have good paying full time jobs here.

    The home are around 250 -300 K here 2100- 2300 SFT. We can afford paying 30-40k as down payment.


    I'm hoping we have to pay 1100 for mortigaze taxes etc.

    can you please explain, how much it can cost us the monthly expenses for a 4 bed room house ?

    Thanks.
     

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