Buying a new home

[marchk]

Anyone wanna share good/bad experiences with buying their first house?

Any advice for a first time buyer?

I'm sick of our apartment complex and am seriously considering buying a small home.

Plus I can build the network of my dreams.

[m0j0]

i bought a nice condo....ask my ex wife that still lives there. the nice thing about a condo is that you don't have to mow a lawn (i have terrible allergies), and you get other stuff like a pool, etc. water and security is typically included in homeowner's association, if you gotta pay one.

you gotta make sure that your loan is at a low rate, obviously. what may not be as obvious is that you gotta be sure that you get a locked rate, not variable. the variable rates can go from pretty darned low to pretty darned high....and maybe stay at the high long enough to offset the low.

get your place appraised by a 3rd party. your mortgage co may insist on it. but if you choose your own, you don't have to worry about someone that just approves crap for the kick-backs. things to look at may be foundation, roof, ceiling, electrical, and plumbing. don't take something that you're gonna have to fix up too much...you never know how far the repairs will go.

check your neighborhood for crime. talk to the ppl that live there. on your way to work sometime, leave early and drop by the place to be sure that you can hack the commute from there at that time. maybe do the same on the way home. drop by the neighborhood at weird hours to be sure that it is the same as you would expect at that time. if you like quiet, make sure it is always quiet (even at 2am). go to some local stores to be sure that it's not too different than what you are used to.

if you look in the area that you like long enough at some similar homes, and notice that there is a price trend.....that is what you are gonna pay.

oh, perhaps most importantly.......make sure cable modem is available! oh, and a good pizza place.

[marchk]

Sounds good.

Thank you.

[hoey222]

Make sure you get a GOOD home inspection on the house you want to buy. I've felt a little screwed because there were things we found out about the house long after settlement. We used the inspection company provided by the real estate agent - I think they support each other and gloss over some things to get the sale quicker.

Have someone inspect the house that has done some home repair. They can tell you things that you might not even think to look at.

[INeedAVacation]

DO

buy low, sell high




DON'T

buy high, sell low

[m0j0]

Originally posted by hoey222
Make sure you get a GOOD home inspection on the house you want to buy. I've felt a little screwed because there were things we found out about the house long after settlement. We used the inspection company provided by the real estate agent - I think they support each other and gloss over some things to get the sale quicker.

Have someone inspect the house that has done some home repair. They can tell you things that you might not even think to look at.

sounds, um, familiar. i like it!

[ken]

The la times has a good real estate section every sunday. Read it. After awhile, you'll have read about all the problems homebuyers can encounter.

[The Happy Squirrel]

dont buy anything with bas on the windows
<but im sure you knew that already>

[pennypinch]

To echo ken, there's actually a full article about the pitfalls of buying a newly-built house in last Sunday's edition. You might want to check it out if you're looking at brand-new developments or something.

[bella]

Originally posted by pennypinch
To echo ken, there's actually a full article about the pitfalls of buying a newly-built house in last Sunday's edition. You might want to check it out if you're looking at brand-new developments or something.

I ALSO am fed up with my apartment! and I was looking at those new housing developments,I may even commute about 2hours to work and back everyday..
Thanks! :)

[pennypinch]

Originally posted by bella

Originally posted by pennypinch
To echo ken, there's actually a full article about the pitfalls of buying a newly-built house in last Sunday's edition. You might want to check it out if you're looking at brand-new developments or something.

I ALSO am fed up with my apartment! and I was looking at those new housing developments,I may even commute about 2hours to work and back everyday..
Thanks! :)

The LA times.