 |
|
 |
 |
|
|
Forum
-> Household Management
-> Finances
amother
|
 Mon, Apr 30 2012, 12:25 pm
Were middle aged, living in a 3 family home with a value of 1 million plus, and its paid up. We're unhappy with the neighborhood were in. Its a 3 family home that now, with us living here, brings in 2 rents. Our apartment would bring in upwards of 2,000 monthly, when rented, totaling $5,500 for the three apartments.
We're hesitant to sell our 3 family home, bec parents begged us not to when they were alive. This house was theirs.
The homes we're looking at are nearby and in the 700-800,000 range and require some work. Our income is about 100,000 yearly and were not in debt. Our savings are about 300,000 and we might get an inheritance of another 100,000 shortly. We have married and single kids. If we dont make the move now, we'll be too old later.
What can we afford? How do we go about this?
| |
|
| Back to top |
 0
 0
|
ez-pass
|
Mon, Apr 30 2012, 12:42 pm
|
Speak to a good mortgage consultant who can help you figure that out. PM me if you need a name.
| |
|
| Back to top |
0
0
|
BoomChickaPop
|
Mon, Apr 30 2012, 1:50 pm
Some factors to consider:
What are the expenses to maintain the 3 family house - property taxes, gas, etc.
How much of your 100k salary are you spending, is there anything left over that would contribute to a mortgage?
Definitely talk to mortgage broker to find out what kind of mortgage you would be eligible for.
| |
|
| Back to top |
0
0
|
| Related Topics |
Replies |
Last Post |
|
|
Regret our Move
|
6 |
Tue, May 14 2024, 8:12 pm  |
|
|
S/o Everyone needs to move to Israel
|
41 |
Fri, May 03 2024, 1:38 pm |
|
|
So excited to move into MIL for yt!!
|
28 |
Wed, Apr 24 2024, 6:36 pm |
|
|
I want to uncover because I can’t afford wigs!
|
94 |
Mon, Apr 08 2024, 8:50 pm |
|
|
People who can barely afford basics are not middle class.
|
35 |
Wed, Apr 03 2024, 5:45 pm |
|
|
Imamother may earn commission when you use our links to make a purchase.
© 2024 Imamother.com - All rights reserved
|  |
 |
|
 |
|
|
