The Official Homeowners Thread

[BmoreGorilla]

This may seem like a silly question, but just wondering is it ok to buy a hpuse and just rent out the property even though you haven't paid off the house. My mans mom is almost done paying of her mortgage and plans to rent it out in 2017. His dad rents out his house,but didnt live there for more than a year.

@beaniemac your advice would be appreciated

Theres nothing wrong with that

 

[Donald J Trump]

you can do that, but most mortgages will ask you if the house is going to be your primary residence. if you tell them you want to use it for rental income, then they will charge you higher interest rates and your homeowners insurance will have to be a landlord policy instead of a standard homeowners policy.

are you planning on getting a house and renting it out, or like a 3 flat and renting out the other units with you living in one of the units?

what happens if i tell them that....then i so happen to "change my mind" and rent it out later

 

[beenz]

I do not own a home, but I believe that the kitchen\bathtoom part is true because of sanitary reasons.

Not really. The kitchen is like a family hub. Everyone needs to eat and will be in and out of that room regularly.

when searching for homes most recently, I was VERY into the kitchen and to a lesser extent the bathrooms. our old house had 2 full bathrooms and a big kitchen. but the problem is our kitchen had damn near no counter space or cabinets. so it didn't work well for us. plus we didn't have a pantry either.

since kitchen space was a priority for me, when we got our new house, we got one with waaaayyyy more counter space and cabinet storage. the kitchen isn't way bigger than the old spot, but it works better because we now have cabinets, counters as well as a breakfast bar plus an eat-in kitchen. before we couldn't get a full sized kitchen table in there, but now we have 2 bar stools and a table with 6 chairs, so its very easy for folks to congregate in there.

here's the kinda kitchen space I have now (also noticing a lot more visitors):

 

[beenz]

what happens if i tell them that....then i so happen to "change my mind" and rent it out later

once you close on the house, u can do whatever u want. but you wanna make sure you have adequate insurance for the property. that's my advice.

 

[Kamikaze Revy]

when searching for homes most recently, I was VERY into the kitchen and to a lesser extent the bathrooms. our old house had 2 full bathrooms and a big kitchen. but the problem is our kitchen had damn near no counter space or cabinets. so it didn't work well for us. plus we didn't have a pantry either.

since kitchen space was a priority for me, when we got our new house, we got one with waaaayyyy more counter space and cabinet storage. the kitchen isn't way bigger than the old spot, but it works better because we now have cabinets, counters as well as a breakfast bar plus an eat-in kitchen. before we couldn't get a full sized kitchen table in there, but now we have 2 bar stools and a table with 6 chairs, so its very easy for folks to congregate in there.

The same happens with the bathrooms. It isn't until you have a tiny bathroom that you start to see the need for something more modern, and with more space. Realtors everywhere will tell you that spending money in the kitchen and bathrooms is definitely the way to go.

 

[Entrapta310]

How do I easily remove scuffs and marks from from flat paint or do I just need to always have a can of touch up paint on deck?

I read that when you put salt on the ground that it eats up your concrete, how do I prevent that?

Oh and I don't know shyt about caring for grass and bushes

mr clean magic erasers take almost anything off a wall.. just dont use an abrasive one

You can always power wash your concrete when the spring comes.... or dont use salt but use that other shyt they put on the roads because they dont want to kill the animals around.
rural areas use that and not salt.

and get yourself a lawnmower and weed wakker.. hedge trimmer too if you need it. ish isnt that expensive if you truly need to buy them.
or if you have the extra income, get someone to cut your shyt for $50, but it depends on how much grass and landscaping you have.

 

[Cat piss martini]

I own 8 peices of property.

 

[Tanahashi Coates]

Just did a home inspection last Wednesday. For the neighborhood the house is in and the amount I'm paying, I'm getting away with robbery according to the inspector.

 

[agnosticlady]

you can do that, but most mortgages will ask you if the house is going to be your primary residence. if you tell them you want to use it for rental income, then they will charge you higher interest rates and your homeowners insurance will have to be a landlord policy instead of a standard homeowners policy.

are you planning on getting a house and renting it out, or like a 3 flat and renting out the other units with you living in one of the units?

His mothers house is a 3 bedroom\2 bathroom house. It has a big yard and a big backyard with a pool. She said she wants to rent it out for $1,400 a month not including utilities. She wants to buy a hugr house in 2018. She wants a two story 4 bedroom/2 bathroom+ house. Maybe I am wrong, but I feel like it is doing too much considering thay she has one child who is 24(my boyfriend) and he does not live with her. I just feel like it's doing a lot, but maybe I am wrong. It is not my place to speak to her about it, but it does run in my mind. What do you think?

As for me I am planning not to buy a house until I am in my career. At the same time I am wondering...Is it ok to buy a hous while you are getting your masters? I will probably take out loans for my masters (trying to get graduate assistanship). Would school loams affect my ability to buy a small house?

 

[J.E.T.S]

If your home doesn't have a warranty or is older.. American Home Shield breh.

 

[agnosticlady]

I own 8 peices of property.

How did you acquire them?

 

[beenz]

credit
income
debt

then. work on that debt. don't know what your income or the housing market is out there, but maybe u have to look into something less expensive like a condo perhaps.

 

[GMOGMediaTV]

I've been a home owner and property investor since 2006 currently i am in my 2nd home that i moved into 2013. I rent out my previous home to some tenants which gives me another stream of income. My advise is the build the equity in your home to sustain the real estate market climate.

 

[beenz]

How do I easily remove scuffs and marks from from flat paint or do I just need to always have a can of touch up paint on deck?

I read that when you put salt on the ground that it eats up your concrete, how do I prevent that?

Oh and I don't know shyt about caring for grass and bushes

I have wiped stains off flat paint using a wet sponge. I think mr clean sells some kinda eraser thingy as well.

back in the day, my oldest daughter took crayons and wrote all over our white walls with flat paint at like age 3. we beat the brakes off her and had to repaint all the hallways.

when I painted, I used eggshell for the walls. it's much more glossy, but easier to clean cuz you can wipe it off. use the flat paint for the ceilings is my thoughts on that.

 

[agnosticlady]

I've been a home owner and property investor since 2006 currently i am in my 2nd home that i moved into 2013. I rent out my previous home to some tenants which gives me another stream of income. My advise is the build the equity in your home to sustain the real estate market climate.

Tips on building equity?