I am a 25 years old female and want to get out of my parents home, I don’t want to waste money on rent but right now I have only $10,000, So here I am looking for your suggestion that where should I go for this? Hope you will help me. Thanks in advance!
You want to buy a house for $10,000? Try Indonesia, you can get one for that amount there. Probably not walking distance of a nice beach, but it'll be a roof over your head.
well, with the market the way that it is now, you can probably use that as a decent down payment provided that your credit is decent. you'll want to look around and buy a house you can afford. my first house is on a lake and it's a nice little house. i put down 10k and off i went. good luck
Haha, but assuming the thread starter is in the US, it'll probably cost $1k to get there... Meaning she now has $9k, throw in $1k for the time and resources spent looking for a home, you're down to $8k... I wonder how the job market is in china...
you could buy a sweet ass single wide in the heart of North Carolina....if you like rednecks....and Nascar....oh! and hot humid days....and fire ants....
Buy a home in Pennsylvania. Lots of small towns that have very affordable homes. I'm talking anywhere from $4500 to $50,000 for very nice homes (USA) Hah. I did see a home go for 5000$ in Pennsylvania, it was obviously a small house, but owning your own home for that price is great. Not a bad town either, Newcastle, PA.
Can't find any serious answers here. I dont know about the price of house in the US but you can use the money as down payment if you have good cashflow.
well, it's a lot easier than you think. $10,000 is more than enough to start off. You get a fulltime job, go to the bank and get a Morgage, look for a cheaper but livable home, and buy it. It's the Americian way. Everyone does it.
If you want to live in Cleveland, Ohio just go to some Sheriffs sales. I hear some houses getting auctioned off for $5k. Granted the neighborhoods suck and crime is high, but a good fixer upper can be had on the cheap.
I assume the China you are talking is not Shanghai. $10,000 is absolutely nothing here. To get a decent house here not too far from downtown, 2bedrooms 90sqm (it's not even a real house, rather an appartment), you will need to pay RMB1million (roughly USD140K), of which at least 50% down payment if you are not Chinese.
Well, have you heard the news? Mortgage crisis, subprimes, does any bell ring? With $10K you are probably going to get an ARM, soon enough you will find yourself unable to keep up with the rent, you will try to sell it just to find out that it has lost value and you owe more than the mortgage value, you will be considering short-sale etc. You see the picture. Forget that American dream crap, you simply can't afford a decent house with $10K. Rent for now as you build up your savings. Another tip would be to listening to a guy called Dave Ramsey...
We're pretty much in the same boat (I'm 23). How about finding a cheap (but nice little home), and putting a down payment on it? PM me if you want
The post can't be answered without knowing where she lives but I'll assume (unlike most who replied) that her $10k is for a down payment. This is very easy to answer: Go find an online mortgage calculator, find a home in an area you want to live or can afford to live, deduct the 10k from the price of the home, take that balance and figure out your monthly payments using the calculator. Then add property taxes, homeowners insurance etc. If you live in my area, you can't afford anything more than likely. If you live in a rural area you might be able to.