Im looking for a single house to buy.Will be my first house. My question is l apply for the houssing assistance(its a program wich help people like me with low income and first home buyer). Last week l went to see one of their house(from the housing assistance) that house is ok, need change floor, repaint, need some work its a big house 3 bedroom, 2 baths, little far away 20 min. away from my work. l know all the houseIm look for isgoing to need a repair because Im look under $160,00 with l been pre approved. So that housing assistance show me that big house last week for $159,00. With l could afford the morgage for 30 years fixo. But that thing is she said if l sell the house some day the housing assistance have to sell any have to be sell the same price $159,00 so if all the prices raise that house will be worth the same amount, and plus l can repair the house and some day if l wanna move away l get no appreciation.Will be worth same amount. What you think?? Shoud l buy a house from houssing assistance or l better of buy from the realtor with l can affordto buy cheap house, fixed and some day if l move away, if the economy get better and if the price go up again l can sell for little more too.
Please let me know????

The whole purpose of the housing assistance is to provide affordable houses in markets where most of the houses cost too much. The 159,000 house they showed u is probably already in their program which means it is worth 200,000 or more. They r trying to get u into a house not make u rich.

If u want to make money then look for houses on ur own but ur 160,000 will probably buy u a much much smaller house thant the ''big house 3 bedroom, 2 baths''.

Most of these programs do allow u to make a profit if u stay in them for a long time. l would get more details on that part. It is unrealistic to expect u to live in a house for 30 years & still have to sell it for 159,000 but it would be expected that if u sold it in the first 3-5 years that u would not be allowed to profit from the program.

Get the bank or mortgage broker that pre-approved u involved as they will want to protect their investment & will be able to provide u with advice. If the housing authority is loaning u the money then try to get a local real estate agent to advise you.

Good luck