Buying House! Help!

vertigorocks

vertigorocks

New member
My girlfriend and I are buying a home and this is our first buy so we arent to sure on what to look for in a decent house that will last and have good resale value in 5-6 years. Basic things I know what to look for are 1) Good roof, 2) Mold ANYWHERE in the house, 3) Year the water heater and furnace were put in, 4) How structurally sound the house and foundation are.

Theres more little things i know to spot, but Id love to hear some advice from older bro's and gal's that have bought homes already and what else you can think of for me to check out before buying the home.

Thank you so much in advance

Just for reference, we are looking for homes on Saturday:) We have our preapproval letter and are going to hopefully put an offer down so any input would be GREATLY appriciated! :wave:
 
If there any work done you need to find out what it was and how extensive it was.
You also want to look at neighborhoods. Good schools(yes I know you don't have kids) but if its a thriving area of the city that can increase your resale value.
Look at the homes around(surrounding) your home as well.
 
a few things to keep in mind are how much house you're buying in the area that you're buyinh in, you never want to own the nicest house on the block because everyone else's house will increase in value because of yours but yours won't. You want to buy the most house you can afford in the best area you can afford. So always looks for a smaller or older house or one that needs more work in the best neighborhood rather than buying a nicer house that's ready to get moved into but not in the best area.

PM or IM me anytime bro, just moved into my first purchase 8 months ago and I'm still renovating and adding value to it. It's a lot of work but a lot of fun as well.
 
and for the love of God make sure you get the house inspected by a professional Inspector, the most it'll cost is $400 - $600 and it's worth every penny in the long run because they will inspect the roof and the basement and all of the structural stuff that most of us don't know anything about because they are licensed engineers.
 
mikeswift said:
a few things to keep in mind are how much house you're buying in the area that you're buyinh in, you never want to own the nicest house on the block because everyone else's house will increase in value because of yours but yours won't. You want to buy the most house you can afford in the best area you can afford. So always looks for a smaller or older house or one that needs more work in the best neighborhood rather than buying a nicer house that's ready to get moved into but not in the best area.

PM or IM me anytime bro, just moved into my first purchase 8 months ago and I'm still renovating and adding value to it. It's a lot of work but a lot of fun as well.
Click to expand...
this is the most important thing to realize, especially if you plan to resell in a few years. you could also look into a 5-7 year ARM mortgage.
 
Thank you guys a lot for your responses, it definitly helps. I really am looking forward to this and having input from guys makes this easier. Ill definitly keep you guys updated as to what happens this weekend!
 
don't rush into anything bro, the house I bought was one of the very first houses we looked at but it was priced about $80k more than we wanted to spend. After looking at houses and going to Open Houses for almost 6 months the price on my house had dropped about $60k and we ended up bidding and winning it. Look at lots of houses bro, it will give you a good idea of what you can get for your money and don't let the brokers rush you or pressure you they claim they work for you but they are just out to get a lot of money so their cut is higher
 
mikeswift said:
don't rush into anything bro, the house I bought was one of the very first houses we looked at but it was priced about $80k more than we wanted to spend. After looking at houses and going to Open Houses for almost 6 months the price on my house had dropped about $60k and we ended up bidding and winning it. Look at lots of houses bro, it will give you a good idea of what you can get for your money and don't let the brokers rush you or pressure you they claim they work for you but they are just out to get a lot of money so their cut is higher
Click to expand...


Weve been looking randomly since last september and weve found that the average price around here is only about 70-80k which we'll def be able to swing :D Ive got a really honest and trustworthy guy Ive been working with too.
 
damn, I'd buy houses all day at that price! lol... I wish my house only cost me that much, I'd have it paid off already!!! lol
 
mikeswift said:
damn, I'd buy houses all day at that price! lol... I wish my house only cost me that much, I'd have it paid off already!!! lol
Click to expand...

yea man, it's a good area for buying cheap real estate:)
 
where you at?? here in san francisco a small 2bedroom/1bath 80year old house in a
decent neighborhood is $700,000-900,000. Crazy. I would say definitly have it
inspected. (at your cost) In this area there are licensed contractors that do that -
make sure they do roof also. If they screw up they can be liable. If seller dosent
want inspection they may be hiding something. In this area if there has been a
inspection on a property in the last 2 years the seller has to disclose the report to
you. (that is why some sellers dont want inspection) Good luck (smart move)
 
alright well we just put an offer in today for 82,000 and its pretty sure that we're going to get the house. Its a 3 bedroom 2 bath BEAUTIFUL HOME! New roof 2 months ago, new windows, new carpeting, new appliances, new faux hardwood floors in the kitchen and hallways. Master bed has a master bath too. AMAZING! NO real yard but as college students we dont really need it. Inspector is coming in on Wed. If i was at home this house would easily be 500K but up a my school the homes are so cheap, i love it! I cant wait to move in! There is a front AND back Porch as well!
 
body2see said:
Congratulations!!! Remember you can always re-negotiate the contract and try and get the house for cheaper unless you are 100% content with the price...

Make sure you have a good insurance plan, they aren't that expensive...and you will be happy as hell you have one when something goes wrong....I had one, and my water heating system went a few months in due to a storm, $3000 in repairs, and I didn't pay a dime extra...I think my insurance was like $1000 per year on a Condo I used to have...well worth it...

You're gonna end up spending all your funds on fixing the place to your exacts, which is a good feeling to know you are putting all your time and effort into something you own, ya know...good for you :)

Reminds me of the movie "old school" when they ask him what he's doing tommorrow, and he's like "going to Home Depot" LOL!!!! That happened to me....

I'm happy for you, sounds like you got a good girl, and now the house, things are on the up and up....keep up your hard work :)
Click to expand...


B2S THANK YOU SO MUCH! I am soooo happy right now! I couldnt ask to be with a better girl and the home is so beautiful. We are going to get homeowners insurance and just have it figured into the morgatge. It sucks to hear that your water heating sytem blew but thankfully you had insurance!

The price was reduced from 90K so i think we did pretty well for ourselves! I dont mind being that guy going to home depot...i did my runnin around when i was younger and now im ready to settle down (although we're both in school for at least 4-6 more years) damn doctorates!, and now im really happy to be with my sweetheart now. So many things have been falling into place this year i cant believe it, i hope it keeps up, thanks for you best wish B2S :wave:
 
mcgaret said:
where you at?? here in san francisco a small 2bedroom/1bath 80year old house in a
decent neighborhood is $700,000-900,000. Crazy. I would say definitly have it
inspected. (at your cost) In this area there are licensed contractors that do that -
make sure they do roof also. If they screw up they can be liable. If seller dosent
want inspection they may be hiding something. In this area if there has been a
inspection on a property in the last 2 years the seller has to disclose the report to
you. (that is why some sellers dont want inspection) Good luck (smart move)
Click to expand...


Thanks bro, I think its a smart move too. We have an inspector coming in to check everything. Im in upstate NY where a lot of places seem run down, but im in an area that is much nicer (dont want to disclose that). I cant spot anything wrong with the home and hopefully the inspector says its ok because we both LOVE this house. It is the perfect home for us. I hope it all works out perfectly! Thanks so much! :D
 
You must log in or register to reply here.

Similar threads

Muscle Insider
Redwood Thermowood Panorama Sauna Review
Replies
0
Views
118
Muscle Insider
Muscle Insider
Muscle Insider
Redwood Outdoor Thermowood Garden Sauna Review
Replies
0
Views
85
Muscle Insider
Muscle Insider
Muscle Insider
Redwood Outdoors Yukon Cold Plunge Tub Review
Replies
0
Views
124
Muscle Insider
Muscle Insider
Muscle Insider
5 Essential Features to Look for When Buying an All-in-One Gym Machine
Replies
0
Views
93
Muscle Insider
Muscle Insider
Muscle Insider
7 Reasons to Buy an All-in-One Gym Machine
Replies
0
Views
75
Muscle Insider
Muscle Insider
Back
Top