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re: First time homebuyer
Posted on 12/7/17 at 9:59 am to Mingo Was His NameO
Posted on 12/7/17 at 9:59 am to Mingo Was His NameO
didn't use a realtor. Nor does it really make any difference as those are sunk costs that have nothing to do with putting 20% down or not. Even if I did have to pay a realtor, buying less house than I needed and fixing it up still took a huge chunk out of what I owed them.
I'm just pointing out that people think you have to live in 200k homes right out of college. Which is just not true.
And the point of the other statement is that if a majority of people felt the need to save 20%, then housing prices would be lower. That is factual. There would not be enough money out there to support the higher prices without so much financing. Has nothing to do with whether PMI is still less than paying rent.
I'm just pointing out that people think you have to live in 200k homes right out of college. Which is just not true.
And the point of the other statement is that if a majority of people felt the need to save 20%, then housing prices would be lower. That is factual. There would not be enough money out there to support the higher prices without so much financing. Has nothing to do with whether PMI is still less than paying rent.
This post was edited on 12/7/17 at 10:08 am
Posted on 12/7/17 at 10:12 am to KG6
Yeah but you still needed an attorney and a title company involved, in addition to paying the closing (if you did that) - and paying off property taxes for the year, etc. All the little things that you have to do when selling a home.
It's not like you sit down at a table with a piece of looseleaf paper and handwrite a bill of sale to sell your house.
It's not like you sit down at a table with a piece of looseleaf paper and handwrite a bill of sale to sell your house.
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