Ask Kate About Buying A House

by Rita
(Wisconsin USA)

Regarding Ask Kate About Buying A House: Hi Kate, In 2004 I sold a house in a suburb of a large metropolis that I had lived in for 30 years. I moved to an apartment in a rural area. This was a great move for me at the time.



I had lost my job and was having difficulty keeping up the house. What a relief it was to move to an apartment where I can make a phone call to fix any household maintenance problem that arises, rather than draining my pocketbook.

I am watching the housing market and it seems to me like it is a good time for me to rethink ownership. I am having a hard time trying to decide what type of housing to invest in. I am really opposed to doing outside maintenance myself, so I am considering some type of condo.

A friend told me to get a single home rather than a condo as the condo fees can skyrocket and the condo can even go bankrupt. She said that I can hire help to do outside maintenance for less than a condo fee. She also said that condos are much harder to resell and do not increase in value as quickly as single family residences.

Another friend said to go with a condo that has the higher condo fee as that means the condo association is providing more and/or higher quality services.

Sometimes I wish my friends weren't so "helpful". I am getting more confused and have stopped searching until I can get some better input.

Kate Answers: Ask Kate About Buying A House

Hi Rita, Please don't allow confusion hinder you from buying a house.

You will find in real estate that there are always pros and cons. But the rule of thumb in home buying is if you are ready now for buying a house, then right now is the right time!

Sure there are a few drawbacks with condos. You also found drawbacks with a single family home. However no matter what type of property you decide to buy, the benefits are great and prices affordable.

Here's how you can overcome confusion and hesitation. Use my Home Buying Scorecard and take the sigh out of buying a house!

I hope you'll come back to my website Get Your Best Mortgage Rate again in the future. Let us know your experience of buying a house. You can even share a picture of it.

So remember to bookmark Get Your Best Mortgage Rate to your favorites and visit often for up to date homeowner tips, news and advice. You can also invite friends to comment on this page or create a page of their own like you did.

Best Wishes,

Ask Kate how to get the best mortgage rates
Ask Kate



Learn More About Your Dream Team

How to Buy a House Part 1 Meet your real estate agent and save yourself heartache and headache.

How to Buy a House Part 2 Meet your mortgage lender - Expect more than quoting the lowest rate or taking an application.

Check out List of Mortgage Companies, a local lender directory.

How to Get a Mortgage Part 3 Meet your home inspector and avoid buying a money pit.

How to Get a Mortgage Part 4 Meet your real estate appraiser - Does an appraisal assures you of a good deal?

How to Get a Mortgage Part 5 Meet your title insurance companies for coverage resulting in peace of mind.

How to Get a Mortgage Part 6 Meet your homeowners insurance agent because there is more to it than the cheapest quote.

How to Get a Mortgage Part 7 Meet your escrow and closing disclosure form, the guardian of your real estate transactions.

Title, Abstract Services and Escrow Agents, a mortgage service provider directory.

How to Buy a House Questions and Answers II.

How to Buy a House Questions and Answers I.



P.S. Go to my Best Mortgage Rate Blog, an entertaining source of mortgage information. Subscribe now to the RSS feed.


Click here to add a comment.

You can also ask Kate about your mortgage at Ask Kate About Buying a House.

Recent Articles

  1. Kate's Mortgage Rate Report August 11: Rates Bouncing Like a Ping Pong Ball

    Aug 11, 16 10:49 AM

    Kate's mortgage rate report for the week ending August 11, 2016: Rates Bouncing Like a Ping Pong Ball
    Mortgage interest rates have been bouncing like a ping pong ball: After last Friday's strong job report began pushing up mortgage rates, the market is now hinting at a reversal, with the 30-year hover…

    Read more

  2. Ask Kate how to avoid unauthorized mortgage rate extension fees

    Aug 11, 16 10:18 AM

    Ask Kate how to avoid unauthorized mortgage rate extension fees
    Ask Kate how to avoid unauthorized mortgage rate extension fees:

    After locking in her rate, the bank sent a Texan homeowner, Laura, notification of several thousand in fees that she must pay in order…

    Read more