All Forum Posts by: Alissa Rodman

@Jay Hinrichs and @Teresa M., Thank you. My plan is to be owner-occupying for a year. It will be my primary residence. My lease at my apt ends this month. I'm trying to decide if I should sign a five month lease for same rate I am paying each month, Or go M2M for $150 more per month. 

This particular community I am talking about does have HOA for $179 per month but I did not get the information on whether or not it would include lawn care. Very good point! I'll have to find out more about the HOA. I do know that the community does have rental properties because the sales agent I spoke with yesterday said she bought her home there last year with USDA and is building another home elsewhere. She will be renting out her current home soon.

I really appreciate you guys' input!

Thank you, Keith for sharing your experience with me. I don't know what the mortgage payment, insurance and taxes would be at this point. I am in the interviewing stage of finding a real estate agent. I met with one yesterday that was heavy on buying new contruction with a particular builder. Kinda put up a red flag for me.   I plan to start "interviewing" some lenders this week. I think maybe I need to start with a lender to find out my qualification status.

Thanks again!

Are new construction homes a good investment for rental property for a 1st time home buyer? I have the opportunity to buy a new home with a particular builder in the Austin area. It is USDA eligible and the builder will pay closing costs. Essentially, I will have to pay no money down. But, I am a little cautious because I am completely new to home buying, needless to say, investing.   The no money down and no closing cost from my pocket seems too good to be true. What are your thoughts?

okay, great! I plan to owner occupy my first few properties. Thank you so much!

Good morning all!

As a first time homebuyer, would it be possible to go with an FHA loan for my first property and then use a USDA loan for second property?

Thank you Ralph R. and David Ivy. I really appreciate all the information you have given me. I am going to take your advice and wait a few more months before moving forward with my first purchase. You guys have been most helpful!

Thanks, @Wil Reichard. I appreciate your reply! That is good to know :) I won't mind moving in the colder months. It doesn't get that cold here in central Texas anyway so I guess that will be good timing since my lease will end in February. Thank you so much!

@Debra Grumbach  I don't know how long you've been here, but, Welcome to Texas!  I lived in Allen (just down the road from you) for several years before moving to Austin area. Frisco is a nice place.

I appreciate your reply. Seems like most people are recommending I sign the five month lease. With the reasons and explanations, it makes more sense to do that as oppose to the M2M.  I will take your advice and speak with my realtor about the trends and such. I have an appointment this Saturday to interview an agent. There are two others I have by chance met that want my business as well. I need to figure out which one to go with. I don't want to hurt anyone's feelings or step on any toes. One of the agents is my patient. Would be awkward if I didn't choose him since I will be seeing him every 3-4 months for dental cleanings. If you have any advice on how to choose a real estate agent, please let me know. This particular gentleman got his RE license five months ago. One of the other agents I was referring to is a new license holder as well. The one I have an appt with on Saturday is a bit more seasoned. I'll find out how long she has been in the business when I meet with her. 

Thanks!

Another question I have is: Are house prices usually lower during Fall/Winter months?

@ Ingrid J.     Thanks!  When we do month to month at my apt complex we don't sign any agreements. I'll need to find out the amount of days notice to give before move-out. I think it is 60 days. I'm leaning toward signing five month lease anyhow. Thanks again.

@ Ralph R.   Great advice! Thank you so much!  I think the office lady said the penalty for breaking a lease is basically I'd still have to pay the rents owed for the term of the lease. My current lease amount is $1150.00. If it is going to more than likely take about five months or more to close on a home, I think I'll go ahead and sign the five month lease and save the $750 that i would be paying extra for M2M. Thanks again!

@Tan Mehedi ~ Haha! You're right. It is never too late! I appreciate that. Thank you for your reply :)