HRH Collection Part 6

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00alessa00
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Re: HRH Collection Part 6

Post by 00alessa00 »

I usually lurk around here, but this whole talk abt her house got me all intrigued! I haven't looked into this whole house buying thing, can someone explain it to me? Like if I wanted to buy a 1.5 million dollar house, does the bank require that me and my co-borrower earn minimum 1/5 of the amount I wanna borrow? So My hubby and I should have to earn at least a combined $300k to quality for a $1.5mil house?

And what's the minimum down payment for a house in the $1.5mil range?

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Bonfire_Dance
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Re: HRH Collection Part 6

Post by Bonfire_Dance »

Rupertfriend wrote:For what she spent she could have literally bought something else actually worth the money that was bigger than the tiny cottage looking place she got. But real estate is stupid in Los Angeles and people want to live off certain streets like sunset because it's "cool" so the price markup on those houses on certain streets are ridiculous
The area she lives in is expensive. The cost of their house is normally what apartments cost (to buy) in that area. The house was priced much higher, then it dropped and they bought it for less than that too. I don't think a serious home buyer would want to live on Sunset Blvd, but they bought it because it was in their price range.

It's a toss up: Better to buy a shack and live in a nice area as opposed to buying a castle in a bad area. I could back that house, with the cheap floors, Ikea looking cabinets and uneven molding, if it wasn't on Sunset. You can upgrade all that cheap stuff in the house but you can't change the fact it's on freaking Sunset Blvd.

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Re: HRH Collection Part 6

Post by wowtothewow »

00alessa00 wrote:I usually lurk around here, but this whole talk abt her house got me all intrigued! I haven't looked into this whole house buying thing, can someone explain it to me? Like if I wanted to buy a 1.5 million dollar house, does the bank require that me and my co-borrower earn minimum 1/5 of the amount I wanna borrow? So My hubby and I should have to earn at least a combined $300k to quality for a $1.5mil house?

And what's the minimum down payment for a house in the $1.5mil range?
there are lot of options most ask for 3% deposit as a sign of good faith,(20% if your a bad credit risk) However there are alot of variables ALOT. She's probably dodged a few fees since Nicks family is in a variety of real estate endeavours so basics say $45000 up to $3000000 as a cash deposit/sign of good faith (that 3% to 20%) even if that was the last of it outside her fees etc she is still looking at over a period of a 30 year loan & dependant on what she loaned is looking at repayments of around $5600+ a month for 30 years, and that dependants on interest rates etc.. how how big her deposit is... so add that together with what it costs to run HRH, the girl is making bank.

and it makes better financial sense to buy the worst house in the best neighbourhood then the best house in the worst neighbourhood.

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Re: HRH Collection Part 6

Post by ay1215 »

She claims that the new house is secluded and that it has to be super quiet because she can't stand noise, but she left out the part where there's going to be a TON of traffic from Sunset Blvd.

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Re: HRH Collection Part 6

Post by mileyanimal »

wowtothewow wrote:
00alessa00 wrote:I usually lurk around here, but this whole talk abt her house got me all intrigued! I haven't looked into this whole house buying thing, can someone explain it to me? Like if I wanted to buy a 1.5 million dollar house, does the bank require that me and my co-borrower earn minimum 1/5 of the amount I wanna borrow? So My hubby and I should have to earn at least a combined $300k to quality for a $1.5mil house?

And what's the minimum down payment for a house in the $1.5mil range?
there are lot of options most ask for 3% deposit as a sign of good faith,(20% if your a bad credit risk) However there are alot of variables ALOT. She's probably dodged a few fees since Nicks family is in a variety of real estate endeavours so basics say $45000 up to $3000000 as a cash deposit/sign of good faith (that 3% to 20%) even if that was the last of it outside her fees etc she is still looking at over a period of a 30 year loan & dependant on what she loaned is looking at repayments of around $5600+ a month for 30 years, and that dependants on interest rates etc.. how how big her deposit is... so add that together with what it costs to run HRH, the girl is making bank.

and it makes better financial sense to buy the worst house in the best neighbourhood then the best house in the worst neighbourhood.

You can't put less than 20% down on a home unless it costs less than 400k I believe. They would have to put at least 20% so around 300k down or more. When you factor in property tax and home insurance their payment could be around $7,000 a month for 30 years! :rofl:

Also, it is a good idea to not buy the most expensive home in a neighborhood, but she didn't buy in a neighborhood! LOL she's on a busy street which devalues the home. She wasn't thinking about her animals or future children. The yard isn't fenced, if they get loose they can run right onto sunset blvd. Bitch just wanted to be in a certain area even if it meant buying the tiniest home in the worst location. So so desperate.

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Re: HRH Collection Part 6

Post by Richkid »

I'm actually glad she's happy

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Re: HRH Collection Part 6

Post by wowtothewow »

Richkid wrote:I'm actually glad she's happy

Honestly me too, and I like the house she brought I think its sweet for a first home. And it suits her, and I doubt this is going to be a house she will raise kids in, this is probably till a time when that happens then she move out to a bigger home as she prefaced in a few of her snap stories a week or so ago probably still in the same neighbour hood but a bigger home.

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Re: HRH Collection Part 6

Post by gurutroll »

i think some of you are giving alex way too much credit :rofl: she's "happy" for the time being. in my opinion, this home seems like a rushed & odd choice. i give it 6 months before she starts complaining and finding things wrong with this new place.

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Re: HRH Collection Part 6

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wowtothewow
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Re: HRH Collection Part 6

Post by wowtothewow »

gurutroll wrote:i think some of you are giving alex way too much credit :rofl: she's "happy" for the time being. in my opinion, this home seems like a rushed & odd choice. i give it 6 months before she starts complaining and finding things wrong with this new place.
I don't doubt it but isn't fun to watch the roller coaster of crazy

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