What should i buy? Please guide me.

Asked by A, Buffalo, NY Thu Oct 11, 2007

I would like to buy a house withing the price ($100,000 to $250,000). What should i choose and how?

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8
Gail Gladsto…, Agent, 11743, NY
Tue Oct 23, 2007
You have not supplied enough information about yourself, family and lifestyle.
0 votes
Deborah Madey, Agent, Brick, NJ
Fri Oct 12, 2007
Your market may be a buyers market; it may not. Part of the reason to buy is economic and financial; the other reasons to buy are shelter, freedom of choice, and the fact that home is often the core of our memories and lifestyle. When you own, you can nail a shelf on the wall, paint any color you like, and have a furry friend as a pet (restricted in some condos). When you rent, some of these options are limited.

Your market may present excellent opptys for buyers. Nationwide we seem to be experiencing more buyer markets than seller markets. If there was not a recent run-up in prices in recent years, perhpas you will not see a decrease, either Interest rates remain historically low, and that make buying an attractive option.

Do you anticipate living in the same area for 3,4,5 years or more? Do you anticipate job and income stability?

These are issues to ponder and discuss with a mortgage broker and Realtor in your area.

Best of luck.
0 votes
David Gierli…, Agent, Depew, NY
Thu Oct 11, 2007
First get pre-approved for your mortgage. This will help you find out what payment you would be comfortale with. Then Search online then do some drive by's. This will give you a feel of the different homes and area you might want to be in. Then call a Realtor, they can help you with the values of the property and get you in to see the different ameneties the homes have to offer.
0 votes
Kaye Thomas, Agent, Manhattan Beach, CA
Thu Oct 11, 2007
A.. If you are ready to purchase then your best bet is to buy in the best location you can.. even if it is smaller or older or not quite perfect. You can always "fix up" a property but you can't change the location. Old adage says "cheapest home in best neighborhood always beats best home in less desirable neighborhood."
0 votes
Emily Erekuff, Home Owner, Menifee, CA
Thu Oct 11, 2007
Hi A,

The link below shows homes in Buffalo in your price range that are currently listed on Trulia. You can start browsing or you can use the filters on the left side of the page to refine the list to homes with the bedrooms, bathrooms, and square-footage that you want.

I hope this helps you.

Best Wishes,

Emily Gibson
Customer Service Representative
0 votes
Carrie Crowe…, Agent, Southaven, MS
Thu Oct 11, 2007
A,
I like what how Patrick put it. You have a lot of choices. You need to discover what it is you really want. Then if you need help choose a local professional to help you find the right option to fit your needs. Good luck! Carrie
Web Reference:  http://carriecrowell.com
0 votes
Holli Boyd, , 12110
Thu Oct 11, 2007
I think the previous pro answered well - but it's hard to answer without knowing where you are and what your situation is :) Can you give us more information?
Web Reference:  http://www.holliboyd.com
0 votes
Patrick J. T…, , Charleston S.C.
Thu Oct 11, 2007
Great question.

Why you should buy is easier to answer then what you should buy so let me start with the easy one. When owning a home you have a number of opportunities to reduce your tax liability at the end of each year. This saves you money (tax and interest deductions). If you have a multi family there are more deductions (talk to your CPA). Now for the tuff one. What to buy is alot to do with your personnel taste. Some folks don't like yard work or house maintinence so they choose a condo or a townhome. Most people choose a fee simple home (single home). Some choose the single home because of the choice of a larger yard, privacy, no one above or below them and many more reasons. One thing to never discount is your current real estate market. What's hot and What's not? Is there an opportunity to purchase a home in your city today because the single family market is depressed? There could be lots of upside appreciation in the future. The same could be said about condos.

The first thing I would do is contact a full time seasoned Realtor who works in your town and inquire as to what is your best opportunity for future appreciation. A home can be your largest longterm retirement account.

Good Luck
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