Reply to Housing prices are nuts. Did you buy anyway?

Forum Index » Money and Finances

Reply to "Housing prices are nuts. Did you buy anyway?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]We just bought.  We did worry some about bubble, but here's where we netted out as a result:

- We bought in DC in an area that has already seen gentrification, but we think still has room for further improvement due to nearby projects.  (on the border between Hill and Hill East, not too far from H Street)  We knocked out areas like Petworth, Riggs Park and Woodridge over worries about a downturn.  We knocked out areas like Glover Park and Cathedral Heights as less likely to see appreciation.

- We got a very low interest rate - and locked it in.

- Our new mortgage is equal to our old rent.  Even if home value stays flat, we'll still be building equity at a monthly rate that isn't a stretch for us.

- We bought a very livable, but not 100% updated house that we can grow into over the long haul.  We'll make decisions about how much to improve and how long to stay somewhat depending on the market.

- We bought just before the spring season kicked in and so far it looks like we got more of a '15 price than a '16 price.  (prices are definitely up from last year)

We'll see how it pans out.  But that's how we made the call.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics