1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
Business or Entrepreneurial questions? BizWarriors is completely FREE - paid for by advertisers and donations. Click here to join today! You can now use your Facebook or Twitter account to regsiter or login. If you're new to the BizWarriors Forum, we highly recommend that you visit our Guide for New Members.

Deposit amount?

Discussion in 'General Discussion' started by Eastside, Dec 5, 2014.

Share This Page

  1. Eastside Member

    15
    2
    3
    Was having a discussion with my Aunty the other day about buying my first property.

    Do you believe in putting down the most possible and lowering the repayments or spreading your money across multiple properties and investments?
     
    T J Tutor likes this.
  2. harpazo22

    harpazo22 Member

    197
    23
    18
    I would rather put a lump sum down payment because it'll lower the amount of payments you'll be making. If you can, you should in my opinion.
     
  3. ReadmeByAmy

    ReadmeByAmy Member

    298
    65
    28
    I am working as a part time real estate consultant in one of the best developer here in our place. I had met already a lot of possible buyers and sure buyers who had different views when it comes to the method of payment they want to do when buying a property either only a lot or a house and lot. Some of them who had already the money and the budget want to pay a lump sum amount because they do not want that every month they will not be bothered anymore thinking of the payment. While others just want to make a reservation fee first then will pay the down payment on an installment basis before starting to pay their monthly amortizations either through inhouse financing or bank financing schemes. It depends upon the buyer which terms of payment they are comfortable doing based on their capacity to pay. Since it is your first property that you are going to buy you should make the right decision regarding your options with the terms of payment that you can afford to pay.
     
  4. Luxury_Auto_Group

    Luxury_Auto_Group Member

    21
    10
    3
    I put 5% down on my house, but if I could have, I would have put 20% down.
     
  5. T J Tutor

    T J Tutor Member

    1,002
    392
    83
    If this discussion is about buying investment properties, then having been a successful Realtor for many years (retired from real estate two years ago), putting as much down as possible for each investment property. Investment properties are typically income properties and you want to have as much equity as possible to reduce mortgage obligations and increase available funds for management of the property and it's maintenance costs.
     

Share This Page

Loading...
Similar Threads - Deposit amount Forum Date
Email lists: what is the right amount of updates? Online Marketing and Advertising Nov 8, 2016