How do you guys come to terms in terms of what to pay for a house? Market is crazy as we all know. We like this house which is in good neighborhood. House will be around 700k with upgrades needed around 20-30k. 17k/month post tax HHI in Boston suburbs. Currently living in our multifamily (with loan) which would give is close to 1k monthly cashflow income. Also, does having things like pool, attached garage make a big difference when buying and if we have to resell?

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Pool can go either way. Some people specifically avoid them and others see it as a good thing to have.

Attached garage I would think has value to it.

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As others have said..many see it as risky for kids, higher insurance, expensive to maintain.

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Rent! Multifamily pricing is flattening now, and mortgage rates are terrible, home prices are high and inventory is growing. rent now buy later, or offer to rent the house for 2 years and buy it then contractually.

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It’s how much you’re comfortable paying for rent. Then do a Zillow or Redfin calculator to see how much that’d be in house value

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Yeah, how much of your monthly at a 7 and a half to 8 percent interest would that take up? Your down payment amount will obviously affect it too.

We're in a similar situation right now. Looking to get into a larger home and rent out our current home. Mortgage rates are "high" right now and so are prices due to low supply. We're going for it simply because we can still make out all of our bills, including the new mortgage, at half of our net income.

If you can cover all of your bills, the ner mortgage, and have enough money to save and live to your necessary comfort level, I say do it.

Personally, I wouldn't bet on the Fed bringing rates down for at least another year with another potential hike of 25 basis points. Inflation is getting stiiiicky, as expected. We are personally not betting on being able to refinance for another two years, just to be safe.

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Pool is bad for resale unless it's an expensive house with enough space

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In college I worked with a realtor for a year. She had a few listings with pools...they were always a headache for houses like under a million. Buyers would very often use it as a reason to bid lower saying they would have to fill it in, etc. Some sellers spent $20k+ to fill it in themselves before listing.

Unless it's a luxury house where the buyers can easily pay someone to maintain the pool, it's generally not helpful to have when selling. Of course there are plenty of exceptions and specific markets where this doesn't apply, but just speaking very generally

Select an agent to help you determine the price to offer! They will base this off of recently sold similar homes in the proximity of the home you’re interested in, or what are called “comps” (comparable sales). The seller agent pays for the buyer agent out of their commission so there’s no reason for you NOT to use a great agent to represent you. I can lend in Boston and work for a privately owned bank with billions under management. Send me a message if you’d like to review potential numbers!

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