Pixie, In my view its not a good idea in present situation of market.    

lamaji · Oct 27, 2009 11:14 AM

go for it.

V2001 · Oct 27, 2009 11:20 AM

Where is that location where you can buy house for 80,000. I live in northern virginia. The three bedroom town house (new or 2 years old) with two car garage is $ 400,000.

hussain_khan · Oct 27, 2009 11:26 AM

Well, i have heard couple of cases that H1 holders have owned the house, so you will figure it out by loan officer once you apply it. Good luck. It may be good investment based on current economic situition, go for that...

alexandria · Oct 27, 2009 11:27 AM

Indianapolis...here houses ranges from 80 for a mediocre bank owned to 200,000 for the top notch ones...

pixie · Oct 27, 2009 11:33 AM

This is the best time to buy house. U get $ 8000 cash just for buying the house if u r first time buyer till the end of November. Even If u get ur paperwork finished by the end of Nov, the $ 8000 Tax rebate will come to u from Federal programme. Although, they are thinking of extending it. Another is interest is as low as 4.7 in few places. Never were this much low. The only thought that struck me was the amount/price of the house. I know sometimes u get cheap when it is owned by bank or say forcloseure homes. But they are often the fault house. It is higly risky unless u pay some licesned person to inspect the house throughly before u make a deal. Also the prices of houses has gown down, so buy now and sell once the economcy is better If ur frds make enough money ( and according above, mortagage would be less than rent) and  if he/she thinks that her job is stable, then go for it , with the fact that the homes doesn't need any major reconstruction. However, I don't have a clue for housing proces in Indi... Move hunue parcha ki kay ho teta tira....house in DFW, dallas area costs over 250 K easily.

STUPIDA · Oct 27, 2009 12:01 PM

another friend is looking for condomanium  in NYC and two bedroom one cost more than 850,000....that too in a shady part of the city.....housing price definately depends on the city,.....detroit is in the bottom of the line....moving to indy will not be fun for u as there are no nepali community here let alone fun things to do......but thanks for the good advice on the inspection and the condition. will have to be careful on tht aspect

pixie · Oct 27, 2009 12:43 PM

THE idea is not bad..but the question is....are you going to stay in USA for long time. As you friend is in H1....its never sure when she will have her GC. until and unless you are not sure how long you are going to stay in this country don't buy it.Its worthless until U are GC holder or Citizen........ If your friend have constant source of income for 3-4 yrs to pay house mortgage then its not a bad idea.Also If you friend is single don't buy it at all.My friend you can tell yyour friend to use that money on stock.  

lamaji · Oct 27, 2009 3:06 PM