Looking at Houses. Got Some Questions. - Blu-ray Forum

OrlandoEastwood · 03-18-2010, 02:24 AM

Ok, I am looking at houses and I was wondering, how long do you pay for the house? Like, is it over a span of months or years? And if so, how many?

Steve · 03-18-2010, 02:34 AM

You always have the option to buy the house outright if you have the cash of course. However if you have to finance the cost I think the most common mortgage terms are 15 years and 30 years.

Moefiz · 03-18-2010, 02:43 AM

Like Steve said..15-30yrs would be your most popular finance term, the longer you take to pay the more interest you will pay...

My_Two_Cents · 03-18-2010, 02:47 AM

Stay away from adjustable rate mortgages these days unless you seriously understand how they work. Even then, I'd still recommend you stay with a fixed rate because rates are essentially at bottom right now, which means there's nowhere for them to go but up (which they will over the course of the next couple years).

Edit: Okay, you are only looking to rent. Should be no different than apartments.

OrlandoEastwood · 03-18-2010, 02:55 AM

Ok, Ricshoe. I'm def. going to be doing some serious reading on this. My executive producer and I are all ready getting the ball rolling on the next film because we're in it to win it. I've all ready discussed budgeting with my fiancee with what I make from my work and we've both worked out a decent amount to spend per year, incase of something comes up like a medical emergency, since you can never be too sure.

Beta Man · 03-18-2010, 12:53 PM

I can only imagine what real estate costs in Hawai'i

Although the Big Island is one of the 'cheaper' ones, it's still steep!

Good luck.... If you buy, 30 year fixed in the 5% neighborhood is pretty much standard. (I just looked, the bank we have our Mortgage through is currently at 4.84% for 30 Year Fixed)

OrlandoEastwood · 03-18-2010, 02:46 AM

Ok, I wasn't sure how all this works. I'm looking at houses in Hawaii, both rental and sale properties. Mainly rentals for now, but taking a look at property for sale. I am going to have to go back and forth from where ever I am working, most likely Ohio to the Big Island. I'm setting up shop here in Ohio for my studio because it's economically cheaper to do it in Ohio, and because I have the resources here, than Hawaii.

03-18-2010, 02:24 AM	#1
OrlandoEastwood Blu-ray Champion Top contributor Member since:Jun 2008 Location:R-Point Blu-ray reviews:86 Trading Score:24	Looking at Houses. Got Some Questions. Ok, I am looking at houses and I was wondering, how long do you pay for the house? Like, is it over a span of months or years? And if so, how many?

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03-18-2010, 02:34 AM	#2
Steve Blu-ray Knight Top ranked HT gallery Top contributor Member since:May 2008 Location:Anna, TX 4K collection:128 Blu-ray collection:416 Trading Score:41	You always have the option to buy the house outright if you have the cash of course. However if you have to finance the cost I think the most common mortgage terms are 15 years and 30 years.

03-18-2010, 02:43 AM	#3
Moefiz Blu-ray Knight Member since:Jul 2007 Blu-ray collection:288 DVD collection:20 Blu-ray reviews: 15 Trading Score:70	Like Steve said..15-30yrs would be your most popular finance term, the longer you take to pay the more interest you will pay...

03-18-2010, 02:47 AM	#4
My_Two_Cents Blu-ray Knight Top contributor Member since:Dec 2007 Location:Wherever I may roam.... Home Theater Gallery:40 4K collection:35 Blu-ray collection:507 DVD collection:19 Blu-ray reviews: 1 Trading Score:4	Stay away from adjustable rate mortgages these days unless you seriously understand how they work. Even then, I'd still recommend you stay with a fixed rate because rates are essentially at bottom right now, which means there's nowhere for them to go but up (which they will over the course of the next couple years). Edit: Okay, you are only looking to rent. Should be no different than apartments.

03-18-2010, 02:55 AM	#5
OrlandoEastwood Blu-ray Champion Top contributor Member since:Jun 2008 Location:R-Point Blu-ray reviews:86 Trading Score:24	Ok, Ricshoe. I'm def. going to be doing some serious reading on this. My executive producer and I are all ready getting the ball rolling on the next film because we're in it to win it. I've all ready discussed budgeting with my fiancee with what I make from my work and we've both worked out a decent amount to spend per year, incase of something comes up like a medical emergency, since you can never be too sure.

03-18-2010, 12:53 PM	#6
Beta Man Moderator Top contributor Member since:Jan 2008 Location:Juuuuuuuust A Bit Outside.... Home Theater Gallery:4 Blu-ray collection:268 Blu-ray reviews: 18 Trading Score:25	I can only imagine what real estate costs in Hawai'i Although the Big Island is one of the 'cheaper' ones, it's still steep! Good luck.... If you buy, 30 year fixed in the 5% neighborhood is pretty much standard. (I just looked, the bank we have our Mortgage through is currently at 4.84% for 30 Year Fixed)

03-18-2010, 02:46 AM	#7
OrlandoEastwood Blu-ray Champion Top contributor Member since:Jun 2008 Location:R-Point Blu-ray reviews:86 Trading Score:24	Ok, I wasn't sure how all this works. I'm looking at houses in Hawaii, both rental and sale properties. Mainly rentals for now, but taking a look at property for sale. I am going to have to go back and forth from where ever I am working, most likely Ohio to the Big Island. I'm setting up shop here in Ohio for my studio because it's economically cheaper to do it in Ohio, and because I have the resources here, than Hawaii.

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