Recently my family bought a new home, and while it was as much money as most homes are ( we are paying $167,100 for a three-bedroom one-bath) it was the most expensive thing we have ever bought. Buying a new home in any economy will always be an expensive endeavor. In this current economy, it is a buyers market but there are still many things a buyer and seller must consider when buying or selling a home.
The strength of the economy for a buyer can affect the benefits of homeownership because it would determine the future market value of the home.
It will also determine the market price that has to be paid at the time of purchase as well as determining the interest rate of how much that needs to be repaid. The removal of the tax deductibles of the payments increases the after-tax cost, and when taxes come due on the house at the end of the year there are no added incentives for owning a home.
This will lead to a decrease in buying new homes and a drastic fall in prices for sellers. There are many other things that can affect whether a person can afford to buy a home, but government spending and taxes are the biggest incentives as to what a family can afford and what benefits they can receive when buying. With an increase in taxes, there is less money to spend and save for buying a new home, and the location of the home will affect how much I need to pay in property taxes.
Example #2 – Interesting Ideas
Expensive for what it was:
$1.049.95 for a toilet seat!
They were all the rage many years ago in south Florida – an acrylic clear toilet seat embedded with $1,000 dollars of paper money and coins. Of course, the paper money was worthless then because one could never extract the paper from the acrylic.
When I was breaking up the condominium and selling almost everything out with a “garage sale” a rock star friend wanted my toilet seat because he had met his current wife when they were both vomitings into the toilet at the same time and talked about the seat. (yes it was a good party!)
So I spent $1.049.95 but “sold” it for $5,000
a huge profit eh?
but it was more than the guy wanted to help finance my move to my new place
They still have the toilet seat
the most expensive item I’ve ever bought was a coach bag… it was $320.00… I had been looking at it for months and finally broke down and bought it!!!! I’m a mom of 3 so for like a month I wanted to take it back b/c I felt bad, but it was a treat for me and my hubby said I deserved it, so I kept it!
My first vehicle which a regrettably wrote off final month 🙁 learn from this human beings do no longer go the line on a blind nook on genuine of a hill by fact unfavorable drivers like me could attempt and stay away from you and roll into a container oh and my uni degree I’m going to be paying that for a whilst
“That item was our home”. My husband and I made an upfront payment of 1/4 amount of the cost of a house around 4.5 years ago at the age of 27. All with our own savings.
A bit of our background. When we married, we stayed in a 2BHK rented apartment close to our workplace. It was all going well. The rented apartment was nice. It costed us around 8k a month which was affordable since we both were working. Our salary was okayish, not great if I compare it to the IT industry standards (We both are non-IT people). At that stage, purchasing our own home never crossed our mind because it seemed to us that with our salary we would not be able to purchase our home and secondly we were in a happy phase, married for a year and a half and the rented apartment was quite good. Nothing to complain about.
Now, this rented place we had moved into was in an upcoming locality which in a year developed into a very posh area. The owner of the house was a very shrewd person. This we realized in a few months as he used to personally come to our house monthly to collect his rent and to check for any damages and never missed an opportunity to extract more money from us by hook or crook.
We pledged to be careful with this house. But nope, even though we took personal care of the house, he complained us about petty issues like the tiles are not as white as they used to be or the kitchen platform is not as black as before (What the heck!!!) We used to just come home to sleep as we both were working. Also, we had a maid who used to clean the tiles every single day.
The final nail in the coffin was when, around 10 months of our stay, he declared that he would raise the rent to 12k instead of the usual 10% rise which was mentioned in the agreement( For which we were ok to pay). It was simply unacceptable to bear this owner anymore. He simply told us to look for another abode if we didn’t pay him his asked amount. He told us that he would get a lot of takers for his house at that rate. This behavior pissed us off and we both decided to purchase our own home and never stay in a rented apartment anymore.
From then the quest for our home began. We searched for each and every house that was in our budget in 2 months and finally zeroed into a house that somewhat matched our expectations (Not all, but we had no choice- We both simply did not want to move into a rented house ever again). We decided to take the plunge. ( There is again a big story of how at one moment we thought of letting it go- this for another day)
We both being very stingy with our money (My husband often jokes- A Marwari has married a sauna- what a deadly combination)We shelled the required amount of money (by stretching all our limits btw) which was paid to buy our home.
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