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I lived in my house for 40 years. I lived on 5.25 hectares, and I went into the city to divide the land into another area and made it through.
I love where I live, but the house is old and the kids are gone. I am a 58-year-old nurse. I pay $ 800 per month in property tax plus mortgage, which totals $ 2,500 a month.
I was offered a pretty good deal to sell my house for over $ 500,000 over two years ago. I have a house I want and will buy, so I want to sell. But the sale fell on my house, so I had to move away from the house I wanted to buy.
Now there are no homes for sale and I did not find what I was looking for. So I had to rent until I found something. Should I do that? Or just wait until more houses come on the market to sell if I find anything? I probably won’t get much but the houses won’t be too expensive to buy. Isn’t it all out?
It would be better to spend money, go on vacation not necessarily until you have worked hard. But I also don’t want to be in rent payments as I was when I owned my house and I didn’t feel comfortable because I was renting g where I didn’t want to live.
I love my house where I live! But property taxes are very expensive, and I am about to retire and will need to sell. I still owe my house a debt and I will not repay it before I retire unless I move.
Home ownership costs are rising rapidly across the country, so you are not alone in feeling heavy.
A recent survey from data mining company Attom Data Solutions found that for the average homeowner, ownership was relatively low in only 41% of counties across the country. In short, in the remaining 59% of counties across the district, the average household will need to spend more than one-third of their housing costs on housing costs, including mortgage payments and property taxes.
Most vendors are on the same boat as you. They will sell in a heartbeat – if they can find a home to buy. The number of homes for sale has a low record, and this creates something of a bad round. Home sellers are reluctant to put their products on the market because it is difficult to be sure that they will get a seat once the sale is complete.
Renting can be like a one-way ticket to savings, but this is uncertain. You don’t say where you live, but there’s a good chance that not everything is cheaper to rent. In fact, rental housing in suburban and rural areas has risen sharply in the epidemic as families are looking for more space to live outside the big cities. A separate report by Solutions Data Solutions found that owning a three-bedroom house (at average price) is cheaper than renting a three-bedroom house across nearly two-thirds of the country.
There are other factors that are not suitable for rent, of course. You have no control over the cost of your future home, so while you can afford to pay your first year rent there is nothing to stop the landlord from taking it when you go for renovations. And when you own a home, you are building on a valuable financial asset.
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A recent study found that home ownership is still cheaper than renting in nearly two-thirds of the U.S., despite rising home prices.
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With rent, all the money you spend will not be returned to you. Even if you have low monthly prices, a lot depends on what you do with those savings. Basically, you invest or put it in for a rainy day, and you don’t spend it.
You have no help, though. Given how low mortgage rates are still – even though they have risen in recent weeks – I recommend seeing if the adjustment is right for you. But given the length of time you have been in your home and the fact that you are still working to pay off the mortgage, I will assume that you made some money again soon.
You didn’t say what you did after you went to your local council to share your area, but if it lives there, I would think of selling it. Because you have a mortgage, however, this does not have to be direct.
When the land is divided, you need to get written permission from the lender or mortgage lender under the properties, said Tom Trott, a branch manager with the Mortgage Trust in Maryland.
“This requirement is included in most mortgages and standard language in the Fannie Mae and Freddie Mac mortgages,” To sell a piece of the property, you will need the lender’s permission. But if this is hard to come by, you still have options.
“Assuming that they can’t get permission on time, then another option is to sell and redefine the balance at the same time,” Trott said.
