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About adameepoo

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  1. Anybody have a buyer's agent inside the loop offering 1-2% rebate that they would like to recommend? I do most of my own research and only need somebody to let me into places and do the contract work. Thanks
  2. Thanks for the input. I'm glad others are finding this thread as useful as I have. I think I've pretty much decided not to buy a house... not for any fincanical reasons, but because I've seen literally every single new construction in my price range in the areas that I want to live in, and cant find a single one I can see myself living in, let alone buy. As far as the IRA goes, I would't dare touch that except in case of an emergency. I'd keep a few months living expenses in savings just in case, and 3 months is the longest it has taken me to find a job - I switch quite often. So I had used
  3. Thanks for the suggestion. Believe me, I didn't add the deduction to the interest to skew my result, but because I was too lazy to figure out how to combine apr mortgage amortization vs apy interest payments in excel. I didn't factor in the rent increase, which I think I should. So with some new factors, I get the follow numbers Including 25% opportunity cost vs interest tax deduction with buying Including 6% annual increase in rent - a fairly high assumption I feel Using apr instead of apy for interest payments Including 25% capital gains tax for investment gains year.....@3%.apr....
  4. Anybody know where I could find historical home appreciation values in houston? I'd like to see what would happen if i invested my downpayment instead vs appreciation in a home after 30 years. Assuming a 250k home with 50k down and 6% apr, I'd have about $1200 p&i and $1800 piti Assuming my rent is equal to my p&i at $1200/mo and the difference of $600/mo goes towards my "investment fund" I came up with these numbers at different rates of return (sorry about the dots, couldn't figure out tables or spaces) year.....@3%.apy........@4%.apy.......
  5. Well I woke up this morning thinking that there was no way my calculations were right. I re-did everything to the detail, and included future value calculations for the amortization payments. And though its been a few years since my last finance class, it seems paying it off early definitely enjoys the full 6% savings on interest (assuming a 6% apr mortgage). I dont know why or how I could have found otherwise, but I'll chalk it up to 1am drowsiness. That being said, there aren't may investment intstruments out there that offer better returns than that at the moment, and paying it off ear
  6. Thanks for the advice on location. I was leaning towards something in midtown, preferably north of 59, but maybe some of those new constructions a few streets south. Otherwise probably near Houston @ Washington. How do you think those areas will fare in the near future (5-10 years)? After your comment about the amortization, I did some calculations and no matter how I looked at it, to my surprise, paying off the premium would only have saved me about 4.3-4.5% on the extra payments with a 6% apr loan. So you're absolutely right, and although I dont think a short term treasury is paying quit
  7. Thanks for the responses. I also believe there will be a sigh of relief no matter what happens in November, but without going too deep into politics, I cant imagine any real benefits coming from any candidate's economic proposals. I would like to wait, but my lease is up in about 3 months time and I'd rather not commit to another year while my savings are sitting on cash. I cant foresee any safe place to park my money at even 6% for the next year or two so I'm thinking a mortgage would be the best bet at this point in time. I'd try to pay off as much of the prinicple as possible within th
  8. With inflation and commodities at all time highs, interest rates and the USD at rock bottom lows, and the stock market stagnant, there there are very few places I feel comfortable putting my savings in. Correct me if I'm wrong, but Houston's real estate market seems pretty stable. I am finally in a position in my life to afford a house and have enough of a downpayment saved up since I started working about 3 years ago. Would it be wise to use my savings towards a downpayment and use the equity as a bank for my savings? The homes I've been looking at probably take about 50% of my take home
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