I AM 60 YEARS OLD, INCOME 18,000 A YEAR, 21000 IN SAVINGS, WANT TO PURCHASE HOUSE, 72,000, HAVE NO DEBT.

Fiona Odowney
Home Buyer
Utica, NY

SHOULD i?

Answers (7)
Buckster
Real Estate Pro
Intercourse, PA

Miss O'Downey:
Houses and "previously owned motor vechiles" are subject to Murphy's Law. Out of the blue a hot water heater will fail, your furnace, the celler will flood. the roof will leak, old electrical wiring will fail. Moisture will warp door frames, the toilet will overflow, heavy winter ice will break gutters etc etc. Unless your favorite shopping venue is Home Depot and your lover is handy....you have no business owning a home.
Many "repair" people will see you as a easy mark and easy money. Stick to canvas and tiny tubes of paint.
Buckster Friggins

Thu Aug 20 2009, 16:50
Underwater
Home Seller
Dallam County, TX

No doubt. YOu just need to rent. As do most others. Let the landlords pay the mortgages.

Thu Feb 26 2009, 19:13
NonRealtor
Other/Just Looking
23456

Hi Fiona,
Renting is probably cheaper and less troublesome. Good Luck

Thu Feb 26 2009, 14:09

Think about your taxes cost of living renting is better for you right now.
http://fajardodelacruz.realtors.officelive.com

Thu Feb 26 2009, 13:48
Dana Schuster
Agent
70461

What realtor fees? She is the buyer and the realtor fees are paid by the seller.

Thu Feb 26 2009, 12:20
Leveraged
Other/Just Looking
St Lucie West, FL

No. You can find a better deal renting.

On a house of $72,000 you will have to pay almost $4,500 just in Realtor fees.

Either rent or avoid a realtor to cut down on the price.

Thu Feb 26 2009, 12:13
Vicky Chrisner
Agent
Leesburg, VA
FIRST ANSWER

Fiona, talk with a local lender to get qualified. Also, keep in mind that if you have not owned a home in the past several years, you are likely considered a first time home buyer and can take advantage of the various programs available to that group.... including the tax credit available.

Thu Feb 26 2009, 12:10

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