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Reply to "need to buy a home to save money but can't"
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[quote=Anonymous][quote=Anonymous]I think you could buy something around $300. You'll have to get some seller assist for closing costs and you would probably need to save another $6-7k at least to make it happen. Even then, it will be close. Pay off the cc debt and save where you can. Good luck. You do need to have at least 6-7k left over. Our first year of owning a condo, our heat pump crashed and we got a 4k special assessment from our HOA. [b]I also disagree that you can't find a good 2 bed property for less than $350[/b] I own a 2 bed investment property in Shirlington that would sell btwn. $300 and 315k. This is an older town home, partially renovated, good condition. There are also 2 bed condos in Fairlington, a great neighborhood, that sell for less than $350. [/quote] You didn't read the whole thread. OP said that she wanted to buy a new build in the Rockville area of Montgomery County for $350 or less. That just doesn't exist. She wants a new build because she doesn't want to have to worry about the maintenance costs that often arise when you buy an older home. However, to get new build at those prices, she's going to have to go further out, like the northern part of Gaithersburg or Germantown (or even further). She has said she wants Rockville, Silver Spring, Bethesda, North Bethesda or southern Gaithersburg. She is unlikely to find a new build in those areas for that price. Either an older home or a higher price for those areas. And she wants one that has utilities and other expenses covered by the HOA/condo fees. What she wants doesn't exist. She's going to have to compromise on price, location, age of property or cost of living there. [/quote]
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