What should I do about my moving situation?

Question

I am trying to look for a home in Texas that has at least 2,500-3,500 square feet that is in the hundred thousand range. Would it be best to get a foreclosed house or a new house or get a fixer upper? Detail suggestions of homes in Texas would be appreciated.

Answer 1

The new home for $100,000 will be 1,100 sq ft so that is out.  Repo's are good deals but it is best to pay cash for them.... the seller will do no repairs and you lender will require repairs which leads to a deadend.  That leads to a regular house where an owner is prepared to do any repairs required by your lender.  You move in 30 days later.

YOu won't get 2,500 sq ft in Dallas.  You can do it out in the country.

Answer 2

TExas is a BIG state

In real estate, everything is location, location, location.

Hopefully you know what you're letting yourself in for.  Have you taken personal finance, budgeting classes, or even the new homeowners classes realtors offer?

Answer 3

Repos in TX go for 60-80 a foot.  A cheap, 60 a foot, 2500 square foot house will start at 150.

You MIGHT get a very beat up fixer for 100k, but you will have to pay cash, no bank will give you a loan on something you can not legally live in.