For me, it's renting (as i'm still renting).

Thanks for the input hanna. But it's nice to have a place to call your own right? Anyway, I'll be thinking about it coz this isn't a decision to make overnight.

So you're not buying a condo even with the possible 30% price cut?? Is the HOA really that exorbitant?

So I just emailed a real-estate agent to see. The $425/month was from a google search, and could have been when the building was first constructed (2006), this is brand new unit never lived in, yet built in 2006. Lol. It's been sitting for 4 years... Their desperate.

So you're not buying a condo even with the possible 30% price cut?? Is the HOA really that exorbitant?

Their $425.00/month. However, I was looking at one bedroom units online it may vary on the size of the unit. Parking was also included (which I don't need).

I live with my folks. They'd be willing to co-sign, but the HOA fees are to expensive anyways.

So you're not buying a condo even with the possible 30% price cut?? Is the HOA really that exorbitant?

Try using this site]http://portal.hud.gov/portal/page/portal/HUD/topics/buying_a_home[/URL]

And this tool specifically]http://www.ginniemae.gov/2_prequal/intro_questions.asp?Section=YPTH[/URL]

thanks a lot! knowledge can really save time and money. btw, I didn't know there's a housing counselor profession. didn't occur to me that we need counselors for buying a house. but i might try my luck on becoming a housing counselor one day...

Joeyman, do you currently have your own place or do you still live with your folks?

I live with my folks. They'd be willing to co-sign, but the HOA fees are to expensive anyways.

Joeyman, do you currently have your own place or do you still live with your folks?

Joeyman - great links. Just worked several samples. Very useful!

No problem, I'm sorta dreaming about buying a condo myself. I look online at sweet deals but the HOA fees put me over budget every time. Here in Portland there are two brand new towers that were sent back to the bank recently, they have very very low prices in a new neighborhood The South Waterfront. Plus the $8k new home buyers tax credit. I can get a brand new one bedroom for $150k! In a 30 story tower. I just read an article from a local newspaper about a possible 30% price cut again! Z0mg.


http://www.portlandcondos.com/portland-oregon-south-waterfront-homes.html
http://www.thejohnross.com/

Joeyman - great links. Just worked several samples. Very useful!

I'm planning to buy a house, but before doing that, I want to be prepared for what I'm going to get into. How can I know how much I can afford for a mortgage? So if anyone has any advice, please feel free to post on this thread.

Try using this site]http://portal.hud.gov/portal/page/portal/HUD/topics/buying_a_home[/url]

And this tool specifically]http://www.ginniemae.gov/2_prequal/intro_questions.asp?Section=YPTH[/url]

For me, it's renting (as i'm still renting).

Hanna, I'm with you on that one.

+1 for renting a house in the current market conditions.

I'm confused between buying a home or just renting. Which is the best option?

For me, it's renting (as i'm still renting). Renting is hassle free and I can change residence without a lot of paperwork. That's my opinion for now until I get to buy a house.

I'm confused between buying a home or just renting. Which is the best option?

I'm planning to buy a house, but before doing that, I want to be prepared for what I'm going to get into. How can I know how much I can afford for a mortgage? So if anyone has any advice, please feel free to post on this thread.

I also want to add, with my loan I financed a 1600 sq. ft. house and 3 acres of land for almost 91,000.