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For UK based colleagues- has anyone done self assessment with HMRC although we are part of PAYE? Last year I switched entities and had stocks vest. So apparently went over £100k with sticks vesting. Superficially I made over £100k, but about 50% of vested shares go to paying tax and NIC. I’m a bit baffled as to how I fill out the self assessment form. I had no other income so one would think it’s straightforward… there are questions about foreign investment. Would RSUs be foreign investment? Amazon
How bad is this trade war going to be?
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Someone works at or with PwC Experience Center?
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Just finished work. What’s everyone listening to?
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Def closing costs! Mine were like a nice $10k which I was not really expecting. Also if you’re looking at condos (not sure of your market) but you want to consider the reserves that they have to ensure you won’t be hit with a huge “special assessment” fee if something major needs to be done (ie new roofing or pool fixing)
Look at what you’re buying and what will need to be replaced or repaired. After figuring that out, think through what you can do yourself and what you’ll need to outsource. Similarly to a project, we’re not all experts in every field / some projects are riskier than others where it would be a good idea to contract out. The stuff you do yourself costs more than you think - especially since you’ll likely need tools. Finding a reliable contractor / tradesman is a crapshoot and certainly tougher than finding a SME for a technical accounting question.
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I bought an apt today. Have no additional advice to add to the good stuff here but lots of good / overwhelmed feelings! Do it :)
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Thank you! :)
Earnest goes towards closing though. I would say make sure you do a sewer scope, have a good inspector, make sure your purchase contract as 1year warranty on it
I would ask friends or relatives as well!
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Taxes and insurance. Closing costs (buying points) and earnest non refundable deposit.
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Please check water pressure. Once purchased a house where I basically need to run around just to get wet, a dude with prostate problem could piss better. 10/10 do not recommend.
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No HOA, costly and fees tend to go up not down.
Not much of a choice if you want to live in a condo in a big city though. But you should definitely compare and try to find a place that it provides decent value. In Dallas, HOA fees range from $300-$1,000, but what they provide varies greatly.
And I say in long term, see if you’ll like the surroundings, meet potential neighbors, local cafe and restaurants, etc. Money is money in the end, you can always earn more; but if you don’t like the area or neighbors you’ll regret the purchase.
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Fair yea townhouses I'll definitely check whose living their - single fam units I'm a little hesitant but I should still see who they are
The inspector should cover a lot of this, but make sure you know how old all of the appliances are, including the water heater and the AC if you have it. When was the roof last replaced. How old are the windows. These are all big ticket items if you need to repair or replace them. Also, if you’re serious about a property, don’t just visit it during the day. Drive by at night and see what it’s like. If you have kids, be sure to research the school district.
I always went with the one my agent recommended because I trusted my agent.
Do a drive by of the property at all times of the day and on friday or saturday nights. Also do a drive by of the property when it rains to see if you have any drainage or leak issues. Maybe even schedule a walk through when it is raining. Check school district and actual zoning, the listing may not be accurate. Depending on location, most important functions to have inspected and weigh hard in negotiations on price and whether to purchase: 1) ac or heating (depends on location which is more important); 2) plumbing; 3) electrical; 4) roofing. These are big ticket items and for 1-3, most municipalities or county or parish or hoa require licensed professionals do any repairs. Be present when the inspection is done so you can be shown the problems. Also, make sure inspector does full report with pictures. Have the sellers’ disclosure printed for you and the inspector so he can identify inconsistencies and you can note items not disclosed. If a pool or hot tub is involved, get an inspector who does those as well. A resurfacing or whole new system is costly. If the seller says they had any of the above repaired or replaced recently, ask for receipts and see if there is a transferrable warranty. Most HVAC have an equipment warranty for the condenser and coil. Labor is usually not covered. Roof usually comes with warranty. Inspector should run all appliances and open and close all windows. Ask for manuals for all appliances from sellers when buy. I had a folder of all the manuals, warranties for the new owner including manuals for ceiling fans. Most owners dont even do that. Be prepared to fork out money after closing to change the locks. I recommend changing the locks.
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This is good advice. I’d also say have the inspector run all sinks and shows for a good amount of time, and that way he can see if there’s any drainage or leak issues.
I’d say Mortgage insurance. If you couldn’t afford the down payment, ask the loan officer at what % of equity/home value will the mortgage insurance go away? Mine wont go away until after i reach 75% unless I refinance it.
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Mold.
Yes! Don't sign off on any release of liability.
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Following!
Title fees. You can usually negotiate a lower rate. And watch out for PMI.