Have you ever lived in a patio/cluster home? Need input!

In the market to buy a home and there are actually a few I like that are patio homes/cluster homes with shared driveways. Very small backyard – wouldn't even consider it a yard but an enclosed patio. Has anyone ever lived in one of these homes? Did you have dogs? Could you hear your neighbors compared to homes farther apart? Less privacy? Would love your input.

ETA: Phoenix market

Here is an example of what I mean: https://www.redfin.com/AZ/Phoenix/5348-W-Molly-Ln-85083/home/27437114


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Lets get real here….what really constitutes a large purchase during escrow? [san diego]

Im sure every home buyer has gotten the "no large purchases before closing" speech but what exactly is a large purchase?

If I book a hotel for a weekend ($430) to go meet with my real eastate agent to go over paperwork does that set off red flags? If I go to Costco and spend $500 which is easy to do am I going to lose my financing?

Is it worse to pay cash for things or charge it on my credit cards? If I pay the balance before it reports is it ok? I really want to hear what your experiences have been. The paranoia is killing me.

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Why would a seller ask for a higher deposit?

Hi all, first time homebuyer. I put in an offer ~8k over asking in a relatively competitive market, which was accepted. We initially signed a contract for $1000 deposit within 7 days and another $4000 within 18 days (total of $5k due before closing). After accepting our offer, the seller wanted the contract addended to $9000 as the second deposit (total of 10k).

Just curious but why would a seller do this? Am I putting myself at risk by putting down such a high deposit?

Update: Pennsylvania, USA

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What should I know before deciding to rent out my house?

So we bought our home last October. My husband has a job that requires him to travel a lot. He wanted to get out of that line of work and settle down, but now he's realizing that its such a great job and he wants to stay in for at least 2 more years. I want to sell the house and go with him, but I realize that we'll almost definitely be selling it at a loss since we've had it for less than a year. So now we're thinking about renting it. Our mortgage is about $960 a month and comparable homes in my area are renting for about $1200-$1300 a month. So here are my questions!

  • I have a home warranty on our house. Will I be able to use it if I rent our house out? If not, can I get a home warranty for a rental home? How much do they usually run?

  • I know I will have to get insurance for it being a rental. Will that eat up most of the $200-$300 we will make as a profit? I'm not super knowledgeable about insurance so sorry if that is a dumb question.

  • I'll be out of state so is it possible to be a landlord and take care of my duties from far away?

  • If we do decide to rent, where do I even start?

Also any advice about renting or even just the situation I'm in would be greatly appreciated. Thanks!

Edit: Sorry! Forgot to add that I'm in Louisiana.

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Home buying with inconsistent income history (TN,USA)

Recently I've been thinking about purchasing a home now that I have a good, secure source of income. Credit score is around 750+, and I'll have a good amount saved up for a down payment by the time I look to buy. However, in my research I've seen that mortgage lenders like to see 2 years of income history. In my case, I graduated college a little over 2 years ago, worked retail part time while working freelance in my field (audio engineering) till the end of 2017, and since January 2018 I've been working a fulltime job in my field while doubling my income from my free lance business.In effect, I've gone from making 15-20k a year in 2016/17, to on track to make 50-60k this year (32-35k fulltime depending on OT hours, 20-25k from free lance). Median income for my area is 38k.

I plan to start the oficial process in June (having saved up a down payment), with a goal of purchasing a house in July-August. Will lenders consider my income history too limited and risky? Should I keep renting for another year or two to build up a better income history? I keep track of my freelance income on a month to month basis, but is there anything else I can do to make it look 'safe?' I know it doesn't look as stable as a salaried position, but the income from my freelance is very steady with no expected slow periods.

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Northern [VA] Smoker’s paradise, how much should I offer under asking?

I'm looking at a condo that is a smoker's paradise. It's listed at the same price as comps. Needs a new furnace, and vents cleaned, and a new w/d ASAP. Needs to be oxidized/ozoned, and Probably another coat of paint, and eventually, new cabinets/countertops It has all new appliances besides w/d, and a brand new remodeled bathroom.

I'm not sure what to ask for under list price. It's owned by the bank, so my realtor says, they are negotiable, but everything is AS-IS. Nobody would confirm the other offers made by other people, but it has not been enough for the bank to accept, yet.

What would be acceptable with that much work involved?

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Have a buyer and have not yet contacted Realtor …

Although our home is not for sale, we have had it in the back of our minds for a while. We were recently contacted out of the blue by someone who is desperately looking to buy a house in our neighborhood, and they have targeted ours. They are legit buyers with no motives other than to buy the house and live here. The have walked though the house, and love it.

We used a Realtor about 5 years ago to buy the home, and have not contacted them since then.

Is there a precedent for involving the Realtor with the sale, without technically listing with them. Is it as simple as excluding this particular buyer from sellers fees?

I'm also concerned about arriving at a fair price with only one buyer. It seems like it almost always takes multiple interested parties to determine the true market value of the property. All of my comps are over a year old, and none of them are of similar quality.

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Help! Want to back out and get earnest money but feel trapped.

(Location – Fort Wayne, Indiana)

So, we put an offer on an old house because my wife really wants to make me move closer to downtown in more historic neighborhoods. I don't feel super comfortable, but I'm trying to oblige her. It's near the top of our budget, and they come down from 300k to 275k, and we move ahead and schedule inspection.

Inspection finds active knob and tube wiring in basement and attic, and we had an electrician come in to investigate more and noticed it running up walls – not sure where it all goes. There are some grounded outlets in the back half of the house where it had an addition and kitchen renovation and 200amp box, but the front rooms on main and second floor bedrooms all have 2 prong ungrounded outlets. I SUSPECT that these may be knob and tube but we didn't open them up.

Anyways, I'm feeling uncomfortable. I called multiple insurance companies and they all said they wouldn't insure if there is any active knob and tube. We replied to inspection and said we wanted them to fix it, and now they're asking for extension (their response was originally due tonight, but they're asking for it to be Wednesday) so they can get contractors in to take a look and get a quote.

They are going to get a price and probably try to renegotiate selling price of house and knock off a bit perhaps and make it our problem to fix. I don't want to do this because it's an old house, and if they have to get into ceilings/walls and repair plaster and stuff, I don't want to get stuck with a ballooning price as things go potentially wrong. I want it to be totally their responsibility to have it all fixed before, or we walk.

The problem is, my realtor is making it sound like I am obliged to go through with this with no way to recover earnest money. If they're making efforts to negotiate and look into things and get quotes, that I am locked in to keep proceeding or totally cutting and running and losing our 2,000 dollar earnest. I am worried their licensed contractor quote won't cover the full extent of rewiring and fixing walls and making sure ALL active knob and tube is gone (I bet it's in random ceiling lights and stuff).

Sorry this is rambling – I can't even get a loan or insurance if there's knob and tube, and I want to get out of this somehow without losing money. If they come back and say "we will fix stuff and knock some money off the price" but I'm not convinced their quote was fully realistic for the scope of all the projects, do I have options?

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How to justify expensive materials during renovation of duplex?

I am currently fixing my duplex up. Both units are getting a full overhaul. I am a bit torn as to where I draw the line for quality and price. I obviously want to get top dollar for rent without spending a ton, but how exactly do I find that line. I am doing all the work myself so I only have to pay for materials.

My largest issue currently is countertops. I can purchase a solid surface sheet and machine/buff/install on my own. Depending on color these can range from $400-$700+. My father, who is helping and knows this stuff very well, said that if I am spending $700+ on solid surface you might as well go with granite. Granite is much nicer and would attract higher end tenants. He knows my budget and what I am trying to accomplish. The granite could cost anywhere from $30-$40 per square foot adding up to roughly $1400 on the cheaper end.

Rent in the area for a similar size place with similar ammenities can range from $900 to $1500. The more expensive ones will be the "nicer neighborhoods, and recently renovated". My units will likely be nicer than most that I have seen and in a nice neighborhood with a great school district. I have the money to go granite, but I just don't know how to justify double the price.

Any input would be appreciated. If you were a tenant, would you pay more for granite and be ok with it?

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