Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [home]

97 questions
39
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2 answers

How does paying off the mortgage work if I demolish a home and rebuild another home on the property?

I own a single family home in NYC, Queens. I have a mortgage on that property. My Zone permits 3 Family house. I would like to demolish the single family home and build a 3 unit property. How does it work? Will my mortgage company let me do it? Or I…
user1459497
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34
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6 answers

The mortgage company is trying to force us to make repairs after an insurance claim

We had some hail damage to our roof and deck after a bad storm and made a claim with our insurance company. The damage was in the 5 figure range, but the estimate for the deck was only a couple of thousands dollars. Our mortgage company made the…
Anthony Q. Sartin
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24
votes
4 answers

Buying a house. Seller wants cash now and move only next year, renting same house in meantime

A relative of mine found a fantastic house on the market (Canada), evaluated 750k. He knew there were 3 other buyers making offers and he was entering a bidding war. He made an 800k offer and was the highest bid, offering to take ownership 3 months…
Alex L
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23
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8 answers

Boyfriend is coowner of a house with his sister, he wants to sell but she doesn't

My boyfriend's parents passed away and he and his sister were left with his father's house and the land around it. He's been living there ever since, but in horrible conditions. He can afford the home, but just barely. He has no heat and often has…
Red
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23
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2 answers

Do home values typically rise and fall consistently across different price ranges?

Within the same city, as the market rises and falls, do cheap, average-priced, and expensive home values typically rise and fall at a similar percentage? For instance, all homes in the city rise about 20%, across the price range: 2010…
Village
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22
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7 answers

Is a Home Warranty worth the money?

I'm a first-time homebuyer, and one of the stipulations of the down payment assistance program I have is that I have to buy a home warranty (which covers appliances, plumbing, roof, etc in case of failure due to normal wear and tear or accidental…
Matthew Jones
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22
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2 answers

What are the primary risks of buying a house in a short sale?

What are the primary risks of buying a short sale home? I've been looking at it as a way to buy a home cheaply, and I understand that repairs may be in order. However I've been warned (in general terms) that there are other risks or difficulties…
C. Ross
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20
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2 answers

Is selling your house without an agent worth the hassle?

There have been numerous "for sale by owner" signs appearing recently. This seems like a convenient way to reduce the commission charged by Real Estate agents but I have heard that this is still a "closed" market unless one already has a buyer…
Zephyr
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17
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2 answers

Seller refuses to accept offer on home until after inspection

I'm currently trying to buy a home (that happens to be a foreclosure), and the bank who owns it is allowing us an inspection period, however they are unwilling to accept our offer until after the inspection instead of signing it with an inspection…
andyortlieb
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16
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3 answers

Rebuilding when current house has a mortgage

My wife and I own a home that is over 60 years old that we bought initially as a fixer-upper. After a few years of fixing it up enough to make it comfortable for us -- we realized that our appetite for doing renovations and repairs has been…
Mark
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14
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4 answers

What home improvements are tax deductible?

Specifically, do odor removal and air duct cleaning count as tax-deductible home improvements?
chaohuang
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13
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4 answers

Can someone sue for house ownership if they gave money for it?

My parents received money from my grandmother to put a down payment for a house. After my parents purchased the home and put the house under their names, my grandmother moved in and eventually after 3 years she moved out. Now she wants her money…
Kevin Gomez
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9
votes
2 answers

Should I purchase earthquake (or other disaster) insurance?

We recently purchased a home. The other day we sat down with our insurance agent to go over our coverage and make sure we were happy with it. Insurance for most disasters (fire, flood) have to be purchased as separate clauses. Most of them are a…
Scivitri
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9
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1 answer

Are real estate taxes deductible if I use home for business?

I use home for business - work as a contractor from home, on my home computer, but there is no area for exclusive use - desk and computers are also used for personal purposes. So I do not qualify for home office deductions. I do want to count real…
Mark Galeck
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9
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3 answers

How to get a down payment for your next home? Use current home as the down payment on the new one?

I bought my first home last year; it's my primary (and only) residence. I intend to pay off the mortgage in 5 or 10 years, then sell the house and buy a bigger one. The new one would cost 2 to 3 times as much as my existing home, so I'd have to get…
vocaro
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