I want to buy a house

even with 9k trust me, conversion rates are beautiful! 9k us is 63K in china, and china is a very good market for entrepreneurs from what I hear.

 

I can advise you to work more or try to find better job. For the beggining it is better to rent with roommate and when you will have a stable job take a morgage and good luck you with new home!

 

try a mobile home. just an idea

 

Lol you're really lucky, here in spain a small house in a city will cost u as least 450k

 

If you work, use this money as a down payment, else, get a job first, then get a mortgage, you can use Mortgage calcualtor to figure out your monthly payment.

 

Pwner, 450k for a small house ? Unbelievable anyway Maybe $45k ? Simply that's too much for spain, even in capital

 

A small house (30~70sqm) costs here 300000eur, around 460k usd, that's in common cities as madrid, barcelona, seville...etc.

 

If you have $ 10,000 it's not bad you can talk to Bank they will suggest you and that would be perfect suggestion.

 

i do not think you can get a good house in china for just 10000$
chinese now are not poor.

 

I disagree.10k is nothing for a house in Pakistan.Unless you want small house.Hell even for 100k you will get a medium size house in areas like Faisal Town etc..and Johar Town,DHA, Gulberg etc is more expensive..It's pretty much impossible to purchase a house with 10k in good area in Pakistan.

 

Jebus, that might buy you a shed in the UK

 

$5k can buy you a house in Ohio ?

 

My mum bought a small 3 bedroomed town house in spain for 30,000 euros a couple of months ago.

If the person is willing to relocate then for $10k you could buy a mansion in Poland but jobs over there pay something stuipid like 20pence an hour so no wonder houses are so cheap.

Your lucky you dont live in England, In some parts of the country you wouldnt even get a sniff of some dog sh** on someones garden for $10k

Approx $200,000 USD for a crappy one bedroomed flat in a crap overcrowded gun crimed city over here.

If you want something average your looking at $600,000 (£300,000)

 

that's extremely cheap even in a village, an example in my city:

 

Oppss....that's just not right

 

The way the housing market is in the US these days, I wouldn't be surprised if you could find a nice foreclosed house for around 10K - Just shop around a little or go to some seized property auctions, foreclosed auctions etc. - There are often some great deals to be found at these . ..

 

in canada, specially in Totonto, 10k is nothing to buy a house. average 3 bedroom house costs over 300k and even with 10% down, CMHC fees, and legal expenses, you need 40k just to get in.

 

This is hard, not knowing what part of the country you are from, but here are my experiences with real estate.

There are only a few situations where real estate is a good investment. Contrary to everything this government has taught us,

"Owning your Own Home Shouldn't be the American Dream."

Lets take a look at real estate as if the recent decline in value hadn't happened.

Lets say you can purchase a home in your area for $100,000.00 you put your $10,000.00 down payment and you have a mortgage of $90,000.00 for 30 years at 6% fixed rate( PS. Never Ever get a variable rate mortgage) your payment would be 539.60/month. Your total payback is going to be $194,256.00 plus the down payment of $10,000.

Ok, now here is the facts. On average, before the fall of the real estate, the value of most real estate went up 4 to 5% per year, on average. Who knows what the recent fall will do to the national average?

Inflation in this nation is running at around 4% per year, about to be much larger due to depression.

Now lets take a look at that same situation, Your $100,000 home is increasing in value 4 to 5% per year, however inflation is increasing 4 to 5% per year. So this means that your home will never increase in true market value, however lets not forget about the interest you have to pay to the bank on the $90,000. you borrowed that is 6%.

So you are now GUARANTEED a 6% loss on your investment.

Now before you all roll your eyes back in your heads, Keep in mind I didn't take into account the usual expenses of Closing Cost, Taxes, Insurance, Property upkeep, etc etc.

Now what kind of investment is real estate? Are you really loosing your money on a rental property????? Rent and enjoy. If you rent, you don't have all those additional expenses. You are in control of how much you pay, where you live, if you don't like it move, you don't have the known or unknown expenses of owning your own home.

Now, If you can buy real estate that is depressed, fix it up to be worth more, you may break even. Or buy income property that you can live in one unit and let the others pay the expense, not much different then renting. or if you can save your money and pay cash for a home without borrowing money you will break even. The only other option, is to pay as little for your home as possible.

The lowest cost homes that provide the features most of us are looking for are mobile or manufactured homes. You may want to check into those.

Here is some more information on mobile home loans and mortgages, Free Site Not selling anything.

I really hope this helps, may not have been what you were wanting to hear, but it is the truth.

 

^ Thread is almost 12 months old. Mar 19th 2008, 7:25 am last reply before yours.

 

As mentioned above -- 10k is a decent downpayment. Find a good job and your set.