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15801 : Real Estate Advice

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  • Local Info0
  • Home Buying2
  • Home Selling1
  • Market Conditions1

Activity 6
Wed Apr 12, 2017
Tlakitas2 asked:
I have attempted to gat a value for my home 5 times in the last 2 weeks using 3 different computers and it will not work
0 votes 0 Answers Share Flag
Fri Apr 15, 2016
MCM_STL answered:
The income level necessary is relative to the mortgage amount you're applying for.

But in your case, you're going to have a tough time getting a loan. No lender is going to approve your spending 50-60% of your income for housing. They're looking for you to land around 20-30%. What you're spending for rent now far exceeds the recommended ratio of housing cost to income.

Also, owning a home is about way more than simply making a mortgage payment. You need to be able to pay for upkeep and repairs. A single appliance can cost more than you have saved. If your HVAC dies or you need a new roof, where are the thousands of dollars for those repairs going to come from?

There are plenty of rea$on$ why it makes sense for some people to rent and let their landlord bare the costs of repairs and upkeep than to take that risk on themselves.
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Sun Mar 10, 2013
Carol Foltz answered:
The market in Treasure Lake area is still stable. It is a great place to settle whether you are looking for a second home on the water, in the woods or on a golf course. Plenty of full time residents also. Approximately 2200 homes currently and new builds are popping up every year. ... more
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Fri Jan 25, 2013
Francene Thomas answered:
Just based on the information provided, I wouldn't suggest a 5th bedroom especially in the lower level. There is already a bedroom on that floor. Adding bath is always good. A walk-in closet with the master bedroom would be adviseable however the master bedroom it sounds like is on the second floor. You can always finish the room and use it as you wish allowing for multiple uses in the future. Finish neutral with a desk (office) or day bed or small sofa and TV.
Just some thoughts. . . sounds lke a large property.
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