I was on a real estate forum a couple of days ago reading people's questions and problems. I always find it hilarious to read someone asking perfect strangers for advice about their lives when they don't know them or how they live.
This guy says, in summary, "My house is too small and I need another one. I can sell my house for about $125,000 and the house I want is $150,000 for 300 sqft more. With the difference in interest rates and taxes, I would only have to spend about $200 more a month to get this much better house, but I don't want my payments to increase, help!"
My response to him was, "...it costs more to own more..." It's not that you buy a house dollar per sqft, but you buy a house based on floorplan and useable space. A house that is 2000 sqft with big bedrooms and an open family room is going to sell faster and higher than a 2000 sqft home that is closed off with smaller bedrooms. Same sqft size, but completely different use of space.
This guy continues about why it shouldn't cost so much more for this house. He admits it's in a better and newer neighborhood. Does better and newer not equate to higher prices? He admits he knows this stuff, but still wants a way to get this bigger and newer home for the same mortgage payment as his current home.
The only solution? Larger down payment so there's a lesser amount financed so the monthly payment is less.
This guy gets mad and stops responding to people because he doesn't like the common sense answer. If you're going to go to a public forum and ask for opinions, don't get upset when you get ones you don't like!
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Copyright© 2011 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
* Real Estate Opinions on a Public Forum * was first published on donnahomesblog.com.