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Having a place to call your own is a dream come true for many—if not most—people around the globe. Renting is fine, of course, but when you truly own the property, there’s a lot of freedom and security that comes with this. Not only can you unleash your genius interior decorator, but you also don’t have to answer to a landlord.
However, purchasing your first property can be absolutely daunting. You’re putting down a huge amount of money, and you want the house or apartment to be great (or, well, at least good). We’ve collected some of the most hard-earned lessons from first-time homebuyers from an interesting discussion on r/FirstTimeHomeBuyer, including the things they regret the most. Scroll down for their nuggets of wisdom.
Bored Panda wanted to find out what people buying their first homes should be aware of to minimize future regrets, so we reached out to G. Brian Davis, a real estate investor and the co-founder of SparkRental.com. He was kind enough to share his insights and advice, which you'll find as you read on.
This post may include affiliate links.
#1
Unless you have concrete plans to get engaged and married soon, I would not buy together. People break up all the time, and sorting that out and selling a home you co-own is a nightmare—especially if you are not equally contributing to the down payment and monthly mortgage.
Donna Peluda 9 months ago
Can agree more. I did this with my GF in the 90. We bought it together. When we broke up she was supposed to stay there but didn't pay the mortgage. I was renting and couldn't cover the mortgage so basically the house got repossessed and for 7 years I couldn't put money in the back. The bank auction and I never saw a penny. Lost everything.
MonsterMum 9 months ago
You need to know that it's the right person full stop, married or not. I'm sure divorce and selling is a total nightmare.
GlitterPanda 8 months ago
Not every couple is going to get married though...my partner and I have been together almost 12 years and just bought a house. No wedding in sight, but we're super stable.
Pyla 9 months ago
yeah, but you don't get screwed out of an asset you put money into, but didn't put your name on. And I know people who have done this. Heck it's been on BP before.
Load More Replies... Lew k 9 months ago
Marriage isn't really the deciding factor here. You need to be able to fully trust your partner, be trustworthy yourself and set clear boundaries and expectations for the house ownership. Marriage isn't the barrier to getting screwed you might think and I know a ton of married people who don't financially or otherwise trust their spouse. Trust is way more important than a Marriage license.
Karl 9 months ago
Absolutely. My missus and I got our first place after living together for 7 years. We knew it was going to be for keeps.
Load More Replies...According to Davis, from SparkRental.com, homebuyers should understand the concept of 'breakeven horizon.' "Owning a home comes with tens of thousands of dollars in closing costs, some on the front end when you buy and others on the back end when you sell. It takes years for a home to appreciate enough in value to offset those costs," he explained to Bored Panda.
"Exactly how long will depend on your local market conditions over the next few years. But as a general rule, expect it to take 3-7 years on average for you to break even on your home. That makes homeownership a long-term commitment. Only buy a home if you plan to live there for at least five years or so. Otherwise, you’re probably better off continuing to rent and enjoying the flexibility it provides," he said.
RELATED:
#2
It was midnight. Our third night in the house. The chirping began.
It was the highest smoke detector in the vaulted ceiling in our living room.
Luckily we had 9-volt batteries and had bought a ladder that day. We lucked out.
Make sure you have 9-volt batteries. Even hard-wired smoke detectors will beep when the backup batteries die.
My boyfriend says every homeowner needs a ladder and a shop-vac.
L Terr 9 months ago
And can't forget the needle nose pliers, or the duct tape.
Load More Replies... John Dilligaf 9 months ago
this. And why do those things always wait till the middle of the night to start chirping? Why not at 3 or 4 pm when you're awake?
Alex Martin 9 months ago
California started requiring smoke detectors be installed with a 10-year battery that can't be removed. Gladly switched all of the old expired units in my house of to that model even though I'm not in California. No more battery chirps until 2035.
GlitterPanda 8 months ago
9-volt batteries as a renter too. Your landlord isn't going to come change batteries in a smoke detector for you at 3am.
Rali Meyer 9 months ago
I noted the date on them when I changed battery. Mine started 3am... (03:00)
William Teach 9 months ago
This is huge. I keep lots of 9 volts around for exactly this. Because they most start beeping at 3 in the morning, and you want this fixed. The only other way is to cut the wires to the detector, and that won't go well. I also need them for my guitar and a guitar tuner
#3
Water. Look out for the risk from water. Can be invisible risk for years. In a mostly flat landscape, the water risk from being near low points can be invisible. The local creek may have been buried in a sewer system. But when there’s torrential rain, suddenly the sewer system will back up into the basements of all the houses near the low points. Closely examine the basement for evidence of earlier water damage which has been buried behind new Sheetrock or wall to wall.
Nimitz 9 months ago
Former fire/flood restoration tech here. If you own your own home, make sure you have a sump pump set up for your drainage, yes, but nowadays it's common to actually install a second as a backup. They're pricey to install in old homes, but with all the "once in a century" storms happening because of climate change, you will be so glad you installed it. You would not believe how many water damage claims I've been to where the owner had a good pump, but it burned out during a flood. Meanwhile, neighbors with a backup pump stayed dry
Uncle Panda 9 months ago
Unfortunately, my life now involves this phrase - "One thing you want to get through life without is using the words 'shj|t' and 'fountain' in the same sentence."
Sue Ellen Jensen 8 months ago
I only have a crawl space but I was so happy to learn from a neighbor that the previous owner put a French drain all around the house. If this was in any closing documents I didn't see it.
Tropical Tarot 9 months ago (edited)
No basements around here but flood from too much rain means the neighbor's pond overflows into our marshy backyard and boom gators swimming past the back door..
Regina Holt 9 months ago (edited)
My friends bought a house in "Millersvilĺe" There used to be a mill there. Yup, flooded basement. Sump pump died. (edited, should have been "mill" not "mall")
Davis suggested that homebuyers keep their future needs in mind, not just their current ones, when choosing a home. "If you plan to have children, that urban rowhome might not make sense. Likewise, if your kids are about to leave the nest, it may not make sense to buy a large suburban home. If you aren’t 100% sure about a city or neighborhood, try renting there for a year first to make sure you want to commit long-term. How do you feel about the noise level? Traffic? Commutes? Safety? Walkability? Taxes?"
He advised that you should spend a week renting an Airbnb in the prospective neighborhood if you can't spend a year living there. "Get a sense for what it’s like to live within a few blocks where you’re thinking about buying. Live your regular routine as much as possible, including both workdays and weekends," he told Bored Panda in an email.
#4
The location is more important than you think. Your realtor is not looking out for your best interest.
Jrog 9 months ago
Realtors are definitely not looking out for your interest, most of them are basically con artists.
Uncle Panda 9 months ago
There are good realtors but most are just jumped up used car salesmen in a higher dollar market.
Load More Replies... The Big Bad 9 months ago
And neighbours... Great neighborhood, but bad neighbours isn't worth it. I'm so happy that I have few neighbours and the once I do have are nice. Makes a world of difference.
Christos Arvanitis 9 months ago
You need to have a Realtor that you can trust and who is a buyer's agent. I only do it part time now, but I was proud of the fact that clients would always tell me that what they liked about me was that I spent most of my time pointing out what was wrong with a house and discouraging them. In the end they all appreciated it. "Can you envision teaching your child to ride a bike on this steep hill"? "This house has nice, shiny new appliances and a granite countertop but the basement is an unmitigated disaster". TL/DR a good Realtor (buyer's agent) has your best interests in mind. A bad one is just like any other bad professional.
Geoffrey Scott 9 months ago
Daughter sent me a pic of a place they were considering. Looked GREAT until the wide view of the back yard and the catenary (power) tower 50 yards behind it. "Walk away".. explained why. My nephew, a surveyor for one of the big power companies in Michigan agreed. No proof, but why take the chance on a $400k house.
superfluous 9 months ago
Why didn't you explain why here? EMF electromagnetic fields) / EMR (electromagnetic radiation) and links to childhood leukemia. Also, the standards for distances to build from power lines are EXTREMELY outdated, and won't be updated due to liability and expense of the changes.
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Nadine Debard 9 months ago
At first you think it's not that important, but then when you go visiting many houses you understand that it's the main criteria.
Rali Meyer 9 months ago
Gets to me when I cannot get any pics or location GPS to check the neighborhood
#5
Pay for the sewer scope. Just closed less than a month ago and just found out we have to replace most of the plumbing. Yay homeownership.
Uncle Panda 9 months ago (edited)
I completely replaced the plumbing in my 90+ year old house. I didn't intend to. All I wanted to do was replace a leaky canister filter. Using normal tools and forces to separate steel plumbing fixtures, the main line from the well shattered over a 2' long section. It was also almost completely blocked with iron and sediment. Of course, all of the pipes were in that condition. It's all PEX now.
Rali Meyer 9 months ago
Ask when the sacrificial anode had been replaced, which protects your (heater) vessel
#6
Do not underestimate the amount of work required for a “fixer upper”. Yes it sounds fun, but it takes a special kind of buyer. In hindsight, I’m very glad I chose a move-in ready home, there’s enough work to do as-is.
Tucker Cahooter 9 months ago
Those TV shows though make it look so simple. You buy the fixer-upper and then smash everything down with a sledgehammer until all you have left standing is the slab
Little Bit 9 months ago
You need the patience of a Saint, a bottomless pit of money, and always expect the unexpected if you buy a cheap "fixer upper". I speak from experience.
Child of the Stars 9 months ago
Buying a fixer-upper seems like something you should only do if you're already an experienced homeowner who has done most home repairs themselves.
Gavin Johnson 9 months ago
My first house was a fixer upper. My partner and I had plenty of experience as we had both worked in building renovations. Fixer uppers have hidden underneath them another set of jobs that you can’t fathom until you’ve stripped away the obvious. We planned a two and a half year project, completed it a shave ahead of time and slightly over budget, d**n you fancy plumbing and fancy pants cellar sealing. We had friends in the trade, we called on them and many ‘foreigners’ were done, we got lucky and had invaluable support. I’d say that if it’s your first home either buy in usable condition or have very, very deep pockets and a lot of patience, working on your home after a week at work will knacker you out!
Tim Douglass 9 months ago
I grew up in a "fixer-upper". My dad was very good at it and was a general contractor for many years. I learned how to build and fix pretty much anything in a house. Unfortunately, what seems like a great idea in your 30s or 40s (his age when we started doing our house) is a lot bigger deal at 60 (my age when I bought my first house). Fortunately I understood that and passed on several houses I really loved because I just couldn't face the amount of work it would take to make them nice.
Rali Meyer 9 months ago
For cars the equation goes: You pay double getting if from condition 3 to 2, vs paying the difference for a condition 2. (Am I making sense?)
Geoffrey Scott 9 months ago
If you are prepared to rehab the common areas, go ahead. The rest will take a while.
We asked Davis how someone can be sure that a property is 'good enough' for them. He said this holds true if a property meets all of your needs and most of your reasonable wants.
"Get extremely clear on both. Write them out alongside your partner and then prioritize your wants. Make sure you and your partner are both on the same page, and if you’re not, keep negotiating until you get to a place where you can both live with the compromises—without resenting the other partner," the co-founder of SparkRental.com explained.
"Finally, scope out the local schools well before buying, if you have school-age children. Physically visit the schools, talk to the administrators and teachers. Speak with parents whose kids go there. Post in local community forums asking parents for their candid feedback. Check the ratings on Greatschools.org."
#7
When I bought my first home I was given some good advice. Which is to wait 6 months on any Non-Absolutely necessary project. If you think it is still important after 6 months then do it. .
Nadine Debard 9 months ago
Yes but you'd like to do it before moving in. Moving furniture or turning around while painting is a pain in the butt
Uncle Panda 9 months ago
Socks are really good paint blotters and as a bonus, you can backtrack yourself!
Binny Tutera 9 months ago
Be aware that some things will void your warranty. A friend just bought a brand new house, but painting any wall will void the warranty on the ceiling, walls, trim, light sockets, etc. so they have to wait one year.
nottheactualphoto 9 months ago
As if I needed more reasons not to buy new construction.
Load More Replies... Child of the Stars 9 months ago
My ex-husband's parents have always done a "one big project a year" thing. One year it might be something major like replacing the plumbing, then the next year something smaller like replacing the carpets and living room furniture. This year they redid their in-ground swimming pool, which my kids are super excited to play in this summer (they added a diving board and Gramps is going to teach them how to dive!). It seems to work well as their house is always up-to-code and looks lovely.
#8
Make sure home inspector actually gets into the attic during inspection. 🙄 Apparently my inspector had MS and didnt. I didn't know that until my ceiling sprung a leak 5 weeks after closing. Needless to say repairs were covered and I got an inspection refund and an apology. But that could have been catastrophic for my $178k first home purchase! I was pissed!!!
Ashtophet’sRevenge 9 months ago
You should always be there during the inspection. Otherwise you have no idea what the find vs ignore/miss.
MonsterMum 9 months ago
The previous owners of my house hid the fact that part of the roof was propped up with an old floorboard! We did know the original 1905 roof would need replacing sometime soon. The roofing contractors had to stop working and get a structural engineer in. Oh, and some of the tiles contained asbestos!
Joanne Earle 9 months ago
There is no longer any access point to the attic in this house. There was an opening in the ceiling covered w/ a hole-sized board that my dad could shove aside if he had to, but when he renovated the upstairs bathroom, he had a new ceiling put in where the attic access was.
Suby 9 months ago
Happened to me. The inspector and the bank inspector both signed off on the roof. First big rainstorm, I had water in the light globe of the ceiling fan. Since both inspectors didn't notice anything, I did not get my money back. I had to take out a loan and pay for the new roof.
Game Guy 9 months ago
You can still get houses for that price in some rural areas.
Load More Replies... #9
Start learning small repairs. Such as changing a wall outlet or switch, covering a hole inside or outside, installing a door or door k**b, leaky faucet, change a toilet handle, etc…
The more you can do on your own, the more will save you from calling for a repair service. Most just charge to come out and inspect/assess the issue and then give you a rate. And some services charge extra to come out on a weekend, like AC repair.
MotherRobinson 9 months ago
I know right the censoring is getting out of hand.
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Šimon Špaček 9 months ago
A lot of those repairs are just screws, maybe a bit of plaster work. It is quite easy to do if you are willing to try it. Can you mix concrete? If you never tried, how do you know that you cannot do it?
Uncle Panda 9 months ago (edited)
Premixed concrete becomes liquid stone that comes in a $4 bag! How cool is that?
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Nadine Debard 9 months ago
There are so many great Youtube videos teaching basic maintenance. No excuse (if you're physically able of course).
Sue User 9 months ago
Thanks. I am too handicapped to do big things or even small things. I cant climb ladder. I kniw what to do, i just cant anymore.
Load More Replies... Ashtophet’sRevenge 9 months ago
Teach your kids home repair too! Ideally they should be able to handle most easy maintenance tasks…
KittyMommy 9 months ago
It's useful in a rental too. Knowing how to patch holes in walls and flooring has saved me a few deposits. Knowing a smidge of plumbing and electrical at least helps give maintenance a heads up on what they're facing too
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If you’re flabbergasted by property prices in your local area, you always have the option of buying homes in Italy for just one euro (a little over a dollar). CNN reports that in Penne, Italy’s Abruzzo region, you can buy abandoned homes extremely cheaply if you commit to restyling them. The goal is to stop the depopulation in the area.
“The only requirement is that buyers commit to restyling these houses in three years, but we ask for no downpayment guarantee to start the works. We really want to encourage and support those who come to revive the ancient neighborhood,” Penne’s mayor, Gilberto Petrucci, told CNN.
#10
Road noise sucks. If you can at all avoid it, do so. Location matters. The better a location you can buy in, the more appreciation of your home value is possible. Also, if you choose to sell, it’ll sell quicker if it’s in a better location.
Sue User 9 months ago
I am blessed. I live off a two lane highway, but the house sits way back from the road.
Toothless Feline 9 months ago
We're lucky too. We live in a condo complex right off a main road, but we're in a middle section with a protected wooded wetland separating us from the front section. We hear traffic only when someone's revving *really* loud or a siren is going.
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BeKind&Rewind 9 months ago
I WAS in a quiet area with little road noise, but everything has built up so much and the traffic noise is intolerable with the windows open.
BeesEelsAndPups 9 months ago
I went to look at an apartment and the El was literally outside the master bedroom window (like a meter away). That would have been awful. They wanted $600K for that place too. It was nice, otherwise, but the whole place would shake when the train went by.
SouthernGal 9 months ago
Headlights shining into windows at night from nearby traffic can be bothersome also. I hate blackout drapes, as I like lots of light in the morning, but for many people that could work.
Joanne Earle 9 months ago
We are looking at properties in Michigan and my husband found an awesome house but when I looked at google maps, there is a railroad track not far from the back of the house. I immediately nixed it. He was like, 'it doesn't look THAT close...' and I said 'I don't care. I'm not gonna invest in a place on the off chance it won't be that bad.' There are tracks across the street from my current house but it's far enough away not to be annoying mostly cause they don't run them at night but during the day they can be loud.
Uncle Panda 9 months ago
If the highway in front of my house was a river, my basement would be full of water. It'd be worth it, though.
#11
Best advice I got on buying a house: don't listen to your parents
They're too out of touch with what the current market is like for first time home buyers.
Nadine Debard 9 months ago
Not all parents. My father in law was an insurance expert and he knew the value of every possible thing and inspected the house. He was more than welcome and gave solid advice.
Child of the Stars 9 months ago
It's my sister and her husband in my family. She's in insurance and he's a licensed contractor who started out as a plumber. They were incredibly helpful when my parents bought their house last year.
Load More Replies... BeKind&Rewind 9 months ago
WHAAAT???? This is stupid. Just take everything with a grain of salt. Us oldies have LOTS of experience and I have bought and sold 4 homes-I know what I am talking about!
Rali Meyer 9 months ago
Other parents: Why don't you buy 27 acres at Conyer Estate off Kenney like we did in 1934?
#12
I went into my first home without a single dollar on a credit card. Not so much anymore....those Home Depot and Lowes card got quite the workout for the first 8 months. It's settling down now.
Until something breaks.
I will say, learn to be handy if you aren't. I saved hundreds of dollars cleaning my own gutters and replacing a thermocouple on my furnace. I learned a lot too. YouTube is your friend!
Existing 9 months ago
Absolutely. Learned to fix a toilet and rebuild a lawn mower
Load More Replies... GlitterPanda 8 months ago
YouTube taught me how to replace my water heater hose and fix my garbage disposal!
Princess Possum 9 months ago
But also know when you CAN'T do it yourself and you need to hire someone.
“We have a team of architects and experts who may advise and support in the renovation works, finding builders and surveyors, showing buyers through renderings what their home will look like once fixed, and advising throughout the renovation stages,” the mayor added.
The starting cost to do some basic restyling for a small to medium-sized house, according to Petrucci, is around 20k euros (nearly 21.7k dollars at the time of writing).
#13
F**k home inspectors. Hire a tradesperson that you trust — an electrician, a plumber, a roofer, etc. and pay them their hourly rate to come out and do an inspection and give your their honest opinion about the shape of things and if the work was done well. I wish I had done this. My home inspector came highly recommended and he honestly didn’t know a d**n thing in retrospect.
Šimon Špaček 9 months ago
I have a roofer friend. He can do pretty much all the building things, he says that there are only two things he refuses to do, electricity and gas (he will prepare it, but plugging it in is for professional). When he couldn't work as roofer, he started working as inspector and he loved it. Walking through the building areas, telling builders what they screwed up and then showing them how they were supposed to do it was great (they DID know how to do it, but cutting corners is faster and easier and they thought that an inspector will not know).
Kabuki Kitsune 9 months ago
This is not always a good idea, as many states require home inspections to be performed by state licensed inspectors. Hiring some rando trades person, regardless of how much YOU trust them, is a recipe for disaster. Best case, the sale falls through because you didn't follow the state required sale procedure. Worst case, if the buyer DOES buy it and gets a licensed inspector, who in turn finds problems; you could be sued for everything the person paid to purchase it, as well as extra damages (some states allow triple damages) for the improper inspection.
Christos Arvanitis 9 months ago
Hire a good inspector, just like any other profession. THis is a stupid blanket statement.
ROSESARERED 9 months ago
My house inspector was c**p. His report had more disclaimers in it than actual information about the house. Highly recommended, 5 google☆. Found out after, through his own promotion, that he was giving away a $50 voucher for the best Google review...only $50....He only told me one thing I didn't notice myself, never checked in the roof, or under the house...still hitting my head against a brick wall ...and finding lots of things he should have found
Edward Luczak 9 months ago
I had to deal with two home inspectors with homes I sold in the past. One walked around a 100 year old home with his mouth open and just an "in Love" gaze on his face. Original windows, wiring, saggy floor, all disclosed to the buyer but the inspector told them the house was amazing and in perfect shape. The other experience was an inspector who was pointing out the tinniest and non important details. A spec of paint on trim that had to be pointed out because no one could see it, a door k**b in the basement that wasn't an exact match to ones upstairs, insulation missing from a water line that didn't require it (Confirmed by our plumber), didn't like curtains, demanded blinds to be passed, wanted a water heater that was replaced 5 years earlier, in perfect shape and still under warranty to be replaced, because he didn't like the brand, and it went on and on. We basically told the buyers the guy was a clueless freelancer and they should get their money back. They did and bought the home.
#14
"What's this stain/spot?"
"Oh, not sure, been there since we moved in."
Water damage from an active leak. That's what it is. Trust no one. Don't trust the realtor, don't trust the bank, and trust the sellers and their agent least of all. Assume everyone is a lying piece of s**t trying to unload onto you what the last lying piece of s**t loaded onto them. Everyone is lying, just assume that out the gate. No one cares about you. You're not paranoid. You're not being a hassle. You're not being rude. Trust no one.
Kabuki Kitsune 9 months ago
Buy some lead test kits (cheap at most big box stores), and a moisture meter. All told you can expect to pay under 100 bucks for both. This will save you quite a headache, and help you figure out potential problems before they start. IF the relator refuses to allow you to perform those tests, leave.
Littlemiss 9 months ago (edited)
If the real estate tells you to look down at the flooring constantly, look up to see what's hidden above you and vice versa. Either the carpet and flooring is bad or the ceiling and roof needs attention. They'll always try to sell you on something. My parents asked about a home that smelt damp. Real estate lied that it was just winter and cold. Turned out a flood went through the whole house, in the front door and out the back. They claimed to have no knowledge of the event that happened 6 months before the house went on the market and was documented in their paperwork.
Ange Marsden 9 months ago
In NZ if a real estate agent lies, they're breaking the law and can heavily fined. That law couldn't come in soon enough!
Joanne Earle 9 months ago
Nah that's not true. There's been a water stain on the porch ceiling since I was a little kid over 40 yrs ago, and my dad had the roof replaced. And it's been replaced at least 2 more times since then. He just never got around to repainting the ceiling.
Glen Ellyn 9 months ago
If you see a water stain it's important to ask what caused it and what the seller did to address the problem. If the realtor doesn't know, tell them to find out. We had a water stain on our kitchen ceiling. It was the result of wind-driven snow getting into the attic through a vent during a fierce snowstorm. We checked it out when it first happened. Crawling up into the attic revealed a small pile of melting snow underneath the vent. Once the snow melted completely, we painted over the stain and it did not reappear.
Load More Replies... #15
Be mentally prepared for how much furniture costs, and how long it could take to arrive if you’re buying something new… lots of furniture is back ordered or takes 3-6 months to ship.
The first few weeks you’ll notice a lot of things that feel urgent but after a while you may get used to the quirks of your house. I had to adjust to how cold it is without heating on all the time, or how long it takes for the water to heat up. We were considering installing a water recirculation or instant heater but eventually I got used to just waiting longer for the water to heat up.
The Big Bad 9 months ago
Couple of tips: 1. Some second hand stuff is still great 2. Big furniture stores sometimes have an outlet section (or wait for sale) 3. Buy display furniture 4. Always try to get a discount of you're spending a lot. I once worked for a big furniture store and they always took discounts into account (back then they held 10% for 10k for instance)
Anna Drever 9 months ago
Definitely buy second hand. Furniture is usually built to last compared to mass produced stuff. Some paint or varnish as needed can update the look and still be cheaper than brand new. Ditto learning to recover dining chairs with funky fabric. Pretty much just a staple gun and a bit of practice.
Load More Replies... M O'Connell 9 months ago
I have a whole house filled with fabulous furniture. Only one single piece was purchased new. The rest of it came from deceased relatives, estate sales, thrift stores, the side of the road, etc.
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Rali Meyer 9 months ago
Bad in Germany, if you move in and there is not kitchen. Can take weeks to arrive! Don't know why the supplier cannot entertain two supply lines. One for replacements, with longer lead time and one for new properties.
Marlowe Fitzpatrik 9 months ago
Lived with a hot-plate on a stool for a few weeks exactly because of that. Wasn't great but it definitely did the job (fridge was bought separately from kitchen). the lack of an oven was a bit of a bummer but eh.
Load More Replies... Pyla 9 months ago
Nick Lewis (great youtube channel on decor) said that most sofas are made with pressed wood, not even plywood. So even my 1200 lazy boy set from the early 00's is better made than some $4k thing you by from a super nice online furniture place. Only way to tell is tip if over and look under the cover at the bottom.
The thing to keep in mind when buying homes—and, well, doing pretty much anything else in life—is that there is no such thing as ‘perfection.’ It’s good to have standards and to know what you want in life. However, you have to be practical, reasonable, and flexible when you can’t get exactly what you want.
If you keep chasing perfection, you might ignore other high-quality opportunities that come your way. You need to consider whether the house or apartment matches most of the qualities you want without focusing too much on the tiny details. If the core aspects of the home are good (the foundation, plumbing, wiring, etc.) and it feels like a good long-term investment, you shouldn’t get too hung up on the color of the walls or that the layout doesn’t 100% match your daydreams.
#16
Diatomaceous earth. You will need it eventually. I had ants one summer and a roach setup shop in my fridge in the fall. Diatomaceous earth meant the difference and bought time while I waited for the exterminator appointment.
Scott Rackley 9 months ago
This. My papaw suggested it one time and it does work.
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Child of the Stars 9 months ago
We had ants when we moved into our rented apartment almost 6 years ago. The landlord sprayed every year, but they kept coming back. I finally figured out where they were coming in and laid down some diatomaceous earth. It took around 3 months before I started seeing fewer ants, but by a year, there were no more ants. That was 3 years ago and I haven't seen a single one since.
Sally Moen 9 months ago
Make sure you buy the right type of this. The pet-safe type will not k**l bed bugs if you have those.
M O'Connell 9 months ago
Not at all. It doesn't function in a chemical capacity. Diatomaceous earth is basically the hollowed out shells of ancient sea creatures. To you and I it feels like a slightly abrasive powder, but shrink yourself down to ant size and a dusting of it would look like a field of broken glass.
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Mel in Georgia 9 months ago
We added this inside our exterior walls when building our home. We never have a roach problem!
#17
If you like an appliance and listing says it’s included, take pictures and try and grab the serial number so it can be included in future at closing. We had the sellers switch out a high end appliance with cheap used one.
Uncle Panda 9 months ago
I'm 99% certain that the refrigerator I saw was not the refrigerator that was there when I moved in, but I didn't have any evidence.
#18
It’s way more expensive than just the closing costs and monthly payment. We bought a few months ago and have already spent over 50k in various projects we either wanted or needed to do. Thankful to have the income to support it, but I know a lot of people do not think beyond the closing costs and monthly payment when buying.
BeesEelsAndPups 9 months ago
Yes, your rent is the MOST you will pay for that apartment each month. Your mortgage is the LEAST you will pay for your house each month.
Nadine Debard 9 months ago
I made a list of all 'glow-up things' I was planning for my (first) house and added 30% to that budget. Was about right (It cost a bit less because we are very handy and did a lot by ourselves).
Suby 9 months ago
Yes, you need an emergency fund. I auto-deposit more than the mortgage payment is into a dedicated savings account every month. The payment is taken out, and the extra builds up and is available in an emergency. Plus, you don't have to adjust the deposit amount every time your mortgage payment changes.
The Starsong Princess 9 months ago
I budget $10,000 per year. If I don’t spend it on necessities like a new furnace, then I roll it over to the next year or use it for more cosmetic things.
In a similar vein, if the house is decently priced, near good schools, close to work, and in a safe neighborhood, that’s what matters more than the molding or roof tiles being a different style than you want. If you have enough spare resources and willpower, you’ll be able to change those details to your liking after you’ve bought the home. But for now, focus on the essentials.
Again, it’s good to have standards and you shouldn’t buy the first thing that comes your way. You need to put in the time and energy to do a thorough inspection of the property (hire a professional if you don’t have any experience here) and the neighborhood.
But whatever happens, it’s likely that your first home won’t be your dream home. Eventually, you’ll look for other properties, especially if you start making more money, have to move for work, or decide to start a family. Your needs and wants will change, so you’ll look into buying a home elsewhere.
#19
Get preapproved before you do any searching so as not to get your hopes up and waste you and your agent’s time.
The Starsong Princess 9 months ago
Spend no more than 2/3 os the amount you get pre approved for. If you spend the full amount, you will be house poor.
Tom De Paul 9 months ago
This should be #1. You shouldn't allow yourself to start from a position that is that close to failing.
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#20
Stressing so badly about mythical problems that don’t exist (yet) is a problem that you need to work. Relax, build your savings and you’ll be prepared for anything.
Ashtophet’sRevenge 9 months ago
Well, almost anything. You had a good home inspection before the sale, right?
#21
If the furniture seems to be in an odd layout on a room, make sure you check or get your inspector to check for any damage or structural issues. I have some very uneven floors that I didn’t notice because furniture was covering those areas during my walk throughs, and thinking back I remember thinking why do they have the furniture laid out like that.
Gavin Johnson 9 months ago
Because my home was built in the 1700s and the lazy beggars didn’t level the floors properly 😂 tried contacting the builders but they have disappeared! 😀
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Jeannie Lashlee 8 months ago
A bed was diagonal in a room and I never thought to look under the bed. Turns out there was a large brown (blood?) stain on the white carpet that I've not been able to get out. Look under furniture!
How did your first time buying a home go, dear Pandas? What mistakes did you make that you’d warn others not to repeat? On the flip side, what went right? How did you decide that that particular property was right for you?
We’d love to hear all about your experiences, so if you have a moment, share yours in the comments.
#22
You don't have to do or fix every little thing right away. Sit back and evaluate the must-do from the nice-to-have projects. Your life will be so much less stressful.
Uncle Panda 9 months ago
I spent the first six months racing between the top of a ladder and the nearest hardware store, always with a list in hand. At some point, I asked a friend "when does it stop?" "It never stops." "Then why am I racing?" I was able to throttle it back after that.
#23
Make sure the previous owner pulled all the proper permits.
Skywitness 9 months ago
That's actually huge. One home we toured had converted the garage to a living space. There was no record of that house having pulled a permit. The city could easily have required the new homeowner to convert that space back to a garage.
#24
Try to visit a house on a rainy day or after a heavy rain. As other people have said, water is a fickle beast and it's good to get a sense of what is going on with the house.
Look VERY carefully at the walls, windows, cabinets, and other places you might gloss over on a first or second walkthrough. I totally missed mid-sized projects I would need to tackle once moving in....
Ask the inspector a LOT of questions. Get a sewer scope done and a radon test....it will all be great negotiating tools later AND it will help you plan out future fixes.
Make sure you know exactly what your comfort limit is on budgeting. Run some calculations on a high appraisal, lower appraisal, etc. Knowing exactly what you can afford and what you are willing to pay are very different things.
Try to find out how much $$ the previous owner (or folks in the neighborhood) pay for utilities. I have been a bit blindsided by those hidden costs!
Rali Meyer 9 months ago
Visit the house on a workday and drive to work from there, at 07:00 - not on a sunday
Neb 8 months ago
Not only that, on several different times. Someone running loud music in the evening? Maybe a drive to work is better 15 min earlier? Because from our house, if you leave at 7, you will be at work at 7:30. If you leave at 7:15 - you will be at work at 8, and sometimes late.
Load More Replies... Tim Douglass 9 months ago
I love these kinds of recommendations. Around here you likely have between 48 and 72 hours to catch a house that is listed, visit it, and make an offer. Biggest purchase of your life and you have 24 hours to decide. All the inspections and stuff come after you get an accepted offer. Always make the offer conditional on passing inspections.
#25
Anybody that has an interest in you making the purchase is to be trusted with a grain of salt.
Scott Rackley 9 months ago
The problem with your examples, Christos, is that doctors, dentists, and accountants take an oath. Which they are legally held to.
#26
One of my key things is what you are seeing outside your windows. And do you have an opportunity to create a nice view. You may not have that chance out all windows but it you can have a nice shot of nature in one or two directions, even if you have to create a garden, it's a luxury. I feel like you can always fix up the inside however you like which is why I'm always so focused on what surrounds and/ or if there is a nice patio or balcony or yard space.
Sara Frazer 9 months ago (edited)
When we moved in to our house several years ago, across the street was a vacant field, often occupied by crows or ducks. Past that was a treeline then a clear view of Mt. Rainier. We often sat on the porch in the evening and watched the mountain turn pink with the sunset. Such a view was quite the rarity in our city! Within a couple years they had developed that field and erected a huge ugly gray modern building :p now we only see about 1/3 of Mt. Rainier. But hey, since it's the county's 911 building, our street has become very safe compared to the surrounding area! There's always security and usually police in the parking lot, and it's a 24-hour facility. So, we lost the view, but our section of street is a lot safer! (We live in a pretty sketchy city) 😂
#27
Closed on 9/30 with my boyfriend. Here’s my comments/advice:
-it takes more money than you think. More than just home maintenance. There were fees for EVERYTHING. My inspection was $600 alone. Be prepared to have that up front.
-Don’t be afraid to ask stupid questions. It’s better to know and look silly for asking than to look silly later for not knowing.
-if possible, try to set yourself up to have plenty of move in time. We have a month for our rental lease to be up & are very thankful because there are so many tasks (cleaning walls/baseboards, redoing flooring) that would have been annoying to do with all our stuff inside.
-If you‘be set aside time to see a few houses in one day, rank them in comparison with one another. Point out things you loved and hated (not liked and disliked). That’ll help better understand what you really want/need. It’s very easy to get woo-ed by the showing setup/Zillow pictures.
And last of all, don’t stress about it all too much! It’ll all work out!
#28
It’s remarkable how many wet basements would be dry if people would simply take care of their gutters and make sure the leaders carry the water far enough away.
My first house took in quite a bit of water the first time it rained. I remember thinking how was it so dry when I placed the offer. Turns out the homeowners removed the leaders and stashed them under the porch. I guess they thought it made the house look better. That was the easiest fix I ever had.
Be aware of situations like that where potential problems were covered up.
That house also had a door next to the kitchen that went out to a closed porch. What I didn’t notice was the storm door that wasn’t there. As soon as winter came the condensation on the inside of that door was unbelievable. That’s when I realized there had been a storm door there that they removed. It was relatively easy to install and it would have been taken care of sooner if I had been aware.
Every time I’ve looked at a house since then I look for things that are missing. It’s easier and cheaper to throw something away than to replace/repair it.
Since then I’ve looked at other homes that happen to have missing leaders, storm windows, storm doors etc. light switches that don’t seem to be connected we’re once upon a time connected to something that eventually broke and was removed. Waste disposals are popular item to remove instead of replace too.
#29
My wife and I are closing on Wednesday evening and getting the keys Thursday. For reference, we were at the beginning stages the last week of June.
**The biggest thing I learned**: The option period took us off guard, but it didn't have to be that stressful. You get the inspection done during this period and then complete negotiations. Our option period was 7 days, which felt like enough time, but we ended up extending it an extra two days to bring in a specialist. I mistakenly thought that negotiations were completed AFTER the option period and not during.
I suggest having a plan related to specialists you already want to see the home. For us, that was a foundation company, but we also contacted a mold remediation specialist, a chimney sweep, a plumber, and an electrician, all for estimates. It's hard to know before the inspection, so it may be useful to pre-emptively look up contractors using the BBB zip code search and jotting down a few numbers per contractor type.
Here are some other tidbits we learned along the way that I found to be very helpful:
* Decide on which cost metric you prefer. We used the conservative version of the "30 %" rule, which is that all housing costs will not exceed 30 % of take-home salary (the standard version uses gross salary). A lot of people also use the 28 % rule. It's up to you.
* Put together a realistic cost estimate. Include the monthly mortgage payment with the range of approved interest rates (use loan amortization calculator for the specific value). Look up annual property tax and put it in for the sale value. Include estimates for homeowner's insurance, PMI, electric, water, sewer, garbage disposal, HOA, internet, etc. USE THIS AS THE "MONTHLY HOUSING COST."
* Once you know your monthly housing cost, figure out your price ceiling as dictated by your "XX % rule". This allows your budget to decide what you can afford and not the other way around.
* Use realtor.com. The listings on zillow do not update very quickly. We would ask our realtor to see 5 houses the next day based on zillow and 4 would already be on contingency. He suggested realtor, and we never had any issues.
* Your interest rate will be whatever the interest rate is when the underwriters approve your loan, not the preapproved value. Given how fast rates have been increasing, it would certainly be worthwhile to take advantage of rate locks. We were pre-approved at 5.375 % with a lock at 5.500 %. When our loan was approved, our credit union's mortgage rates were 6.500 %.
* Think very hard about engaging in a bidding war. Your best tool is time. There will always be other houses.
* Your second-best tool is walking away. Remember this while negotiating. Think through what would cause you to walk away from your offer during the option period. Don't be afraid of walking away after (e.g.) a $500 inspection. Consider it as paying $500 to learn that a (e.g.) $250,000 purchase it not worthwhile (read: don't fall for the sunk cost fallacy).
* When negotiating, it is tempting to ask for money off the cost of the house or for the owners to fix an issue. Keep in mind that the owner is trying to maximize profit, so they will fix things in a way that costs them the least. For house cost, you are unlikely to break even unless you are living in that house longer than 5-10 years (assuming it's not a huge drop that's also reflected in the appraisal); this is functionally a larger down payment or hoping you can do the needed repair for far less than estimated. Instead...
* ...consider asking for closing cost money. You'll be paying this at closing anyway, plus it gives you the benefit of choosing specific contractors and ensuring the work is done to your satisfaction. You can then decide if you want to save money by hiring cheaper contractors or doing some/all yourself.
#30
A lot of negative comments on this post. You don’t have to be married to buy a home together, and being married does not mean your relationship is more secure than someone that is married. My biggest advice is to work with a reputable lender and realtor, which it sounds like you are. And keep in mind, the mortgage you get now is not your forever mortgage. You always have the ability to refinance into a lower interest rate when they drop. Don’t let these bitter people drag you down. Go buy that home!
Marlowe Fitzpatrik 9 months ago
Uhm... Let's just say IF you buy together when not married, make certain that there is a clear contract or something of that kind that says that you BOTH need to pay the mortgage. Because if you are one day suddenly single, you might be in deep sh it if you have no leverage over the other person to pay their share. If it's in your name only, you'll be the one to pay. Marriage isn't just about being an official couple. It also gives legal background on how things will be split if you separate.
Ace 9 months ago
Was going to comment on some of those posts to this same effect. Whether or not you're married doesn't have a lot of bearing on how likely you are to stay together, nor should it have any effect on how the house value/debt will be split in the event that you do not.
Donna Peluda 9 months ago
I was going to say the same, I'm no noble prize but I wonder how some people get by in life.
Load More Replies... #31
Don’t use the contractors / inspector / lawyer your realtor recommends. They are all in it together and you cannot necessarily guarantee they are being honest with you.
#32
Don’t underestimate a “fixer upper”.
We almost went with one and bailed on the contract with the inspection contingency. Got a “turn key” home and we’ve still been busy with projects since the moment we closed 3 months ago.
#33
I close tomorrow and it was very smooth with no hiccups or unexpected issues. It was everything i researched and was told by my realtor, lender, title company.
Family and friends were a great help too with crazy questions and advice.
The consistent advice I got was make sure 1000000% you find a realtor and lender you can communicate freely with and they with you. If you don’t don’t start the process until you do. They should be helping you and advocating for you sharing their knowledge and expertise to get you a good deal. The repeat and referrals is what makes them live….
Make sure your credit is in line first and foremost…
1. Interview several realtors even the ones referred by your family and friends. They will be your life line for all your questions, repeated questions concerns, freak outs so it’s truly a job interview. Be strict and people in the real estate profession have thick skin and know they have to prove themselves to you. Don’t go easy on them but obviously don’t be an a*****e either. Stick to your guns!
Things I looked for in my “interviews”
A. Patience (repeated questions, worries, help me understand)
B. Knowledge of process home buying process. Do self research and know a few answers to questions and ask your potential realtors if they can explain and answer to your satisfaction…without them knowing you know the answer leads into #1- patience. You will be able to hear and “feel” if a realtor is a good fit.
C. Prompts replies and details when reaching out.
D. Make sure they have a good relationship/reputation in the community. Also they should be able to be honest about good/bad builders and tell you if you like a house that it was built by a bad builder and not to buy, but your choice. For example cheap materials or less materials and only looks good.
2. Do the same for lenders. I would recommend interview several local lenders vs online or out of state.
Don’t be confused that a local lender can be a franchise. They will have connections to title companies, realtors, appraisers, and etc and apply pressure or help if needed. Online out of state lenders will not have that. Also online out of state lenders might have slightly lower rates due to less overhead. Ie offices in your city.
The rates from my local lender vs the online companies wasn’t much a lower and very small difference, which my local lender knew…they know so they can be competitive. The “luxury” to walk into my lenders office and b***h
#34
A lot of homes built before the 1980s have lead paint, which is dangerous for children. The regular home inspection does not report this and other types of hazards to you. You have to pay extra and get a lead inspection. If you ever plan on having kids, I'd really recommend the newer houses.
Save more money than you think you need, first year repairs can get expensive.
Annik Perrot 9 months ago
Here in France, the compulsory before-sale "diagnosis" includes lead and asbestos, among other things.
Kabuki Kitsune 9 months ago
Couple notes: The paint itself, if it is in good order and not flaking or peeling, is not dangerous. Even if it IS peeling, the EPA standard procedure for mitigation is, I kid you not, to paint over it with a good house paint. The EPA notes that it is much safer to simply seal it with something like "Kilz" primer, and then paint over it, as opposed to trying to remove it.
#35
Pay special attention to layout and location. These are the two things you can’t really change about a house. There was a house I really liked but the location was wrong. I’m now glad I didn’t commit to that one.
We had better luck not playing around with escalation clauses in offers. That method invites games. If you’re not ready to play games, just make your best offer and that’s it.
The most surprising thing I didn’t really realize was that the house (owner) has to pick you too, it’s not one sided. Do what you can to pull at their heart strings (write a letter) so that you might get chosen over an all-cash offer.
Don’t buy anything big, change jobs, open any new lines of credit or do anything that might mess with your finances right now. Keep things steady. If you’re not sure, ask your lender before you do it.
Good luck!
#36
The property tax value will ONLY lower as far down as what you paid for the home On the first year after purchase. So get the best price possible. (Texas).
Robert T 9 months ago
I have no idea what this means, as I don't live in Texas, but there are property taxes in most countries and you need to be aware of them. I got stung by them when I bought my apartment nearly 30 years ago. In the UK we have something called Stamp Duty. At the time it was 1% on properties over £60k - on the full amount, not just the bit over. My apartment was £5 under the limit. I was offered carpets, tiling and an alarm for £1k. My idiot solicitor failed to point out that the £1k would be part of the property price and that I would have to pay £600 tax, so the offered turned out to be a pretty poor one. Stamp Duty has changed now to work more like income tax bands, so you only pay a percentage of what you are over the threshold and not on the total. Find out the rules and thresholds for where you are and factor it into your costs.
Geoffrey Scott 9 months ago
And if they don't lower the assessed price to the price you paid? Appeal, appeal, appeal. Our kids had the assessed value $50k higher than what they paid. They attended the township appeal board and got assessed reduced by $40k
#37
Make absolutely sure that you’re comfortable with the monthly payment - don’t just go by what the bank says you can afford. I bought my house about 18 months ago and to be honest, I wish I’d gone with a slightly less expensive house. Also, make sure you have money set aside after closing costs, etc for furniture, any new appliances you’ll need, any repairs you’ll need to do early on.
Donna Peluda 9 months ago
If you are getting a variable mortgage run the numbers through excel and see what your worst case scenario is. Can you pay that? My mortgage agent up 50% after COVID but a knew I could absorb it without cutting back to much. I have friends that are bankrupt because their mortgage when up 400 euros.
#38
You know what I learned? Don’t trust your realtors, even if they are your best friend. I overpaid 100k because I have a “trusted” realtor referred by my sister. Stand your ground and never ever use escalation clause. It’s a stupid way to show the sellers how much you can afford and trust me, these realtors will squeeze you out to the penny so you will pay the most. Treat the realtor as a “glorified doorman” because they are..why should you trust the biggest financial purchase of your life to some high school dropouts that have less than a month of training to get their license. If you are comfortable to make an offer at, say like 300k, your realtor will come up with b******t reasons to make you offer more. Stand your ground and say this is what I will offer or better yet, find a different realtor tell if they are not submitting your offer. Make sure you have a conversation with the realtor early on (aka the first meeting) that you will be making low ball offer. If you sense any kind of hesitation, don’t use that realtors. I know many people now are making offers 50k or even 100k less and sometimes they do get accepted. You only need one desperate seller to get a good deal. The housing market is trending down and you better take advantage of it.
#39
The sellers are not your friends, they are selling you something. They will be whoever you want them to be. Keep it professional. If you are overly friendly, it makes it harder to ask for price reductions for issues that you find.
#40
* Be prepared for tons of mail. 99% of it is a scam or someone trying to sell you a home warranty or something. They make it sound really scary and urgent. If you get anything that you *think* may be real, call your lender and confirm with them.
* Live in the house for a few weeks/months before starting any projects. Homes do this funny thing where the major issues seem to always happen RIGHT after you invested time/money on something minor.
* If you haven't already, start getting your utilities set up. And of course check to make sure they're actually available. I waited till after I closed on my home to deal with utilities, and what a surprise it was when I learned that my home wasn't actually connected to city water. That was fun to deal with.
* If you have a yard with grass, make sure you either have a mower or have someone lined up to take care of it. This is something I totally forgot about and it's sucks trying to mow 10" grass.
* This is super cliche, but join your neighborhood FB group. 99% of it will be dumb NIMBY drama, but there is sometimes good info in there.
* At some point in the next few weeks you're gonna wake up at 3AM and hear a weird noise in your house. Don't overthink it too much. Same thing goes for the first time when you leave your home for an extended period of time. Don't worry, it'll still be there when you get back. It's not going to randomly combust into flames.
Idk I could keep going, but basically take it slow and don't overthink things.
Donna Peluda 9 months ago
Yea, well. I didn't by a small house with garden very cheap because it was near a main road. Later I paid a lot more for a smaller house with just a patio a little bit further from the same main road. What I realised was, if we where having a BBQ making noise the background noise of the road help damp the noise so neighbours never complain. And we had some crazy parties, all nighters till dawn.. If I'd bought the first place I could have enjoyed the garden, and fitted quality sound proof windows and a decent air conditioning for when I whent to bed. I'm a noisy person anyway. Also remember in 30 year most cars will be electric.
#41
Sometimes everything goes just fine! Trying to brace yourself for every possible thing that could go wrong will only make you exhausted.
Within a week of closing, we discovered that we needed to replace one toilet and the washing machine, and that our dishwasher didn’t work very well. Less than $1,000 to take care of the toilet and washing machine, and we decided to just hand wash dishes until we had an extra few hundred bucks floating around. We still haven’t coughed up the money for that because I truly don’t mind washing dishes.
And that’s it! We’ve been here just over a year and a half, and nothing else has needed to be repaired or replaced (knock on wood).
#42
Always shop around (3+). Lenders, contractors, homeowners’ insurance, etc. It may seem time consuming because it is. At worst you’ll realize you immediately found the best deal and you won’t have to wonder if you got fleeced. Just about everything is negotiable. If you’re uncomfortable negotiating, you can simply tell them about the other offers you have.
We saved thousands on closing costs, interest rate, and insurance by getting offers from multiple lenders and insurance companies.
#43
Don't buy anything (furniture/appliances/paint/etc) before you close! We jumped the gun and got so excited, because we didn't want to get stuck without xyz for 6months on COVID back-order... turns out we had to run to the store for more paint in one room and a shelf I bought didn't fit where I wanted it to, as well as a few nuances like rugs not fitting because they covered the floor vents.
Always measure first!!
On a more serious note- from personal experience and what I've read, getting into your first home is rarely going to mean getting into your dream home. Make sure you are meeting your bare minimum, but even then sometimes a great location or price can make something different more worth it!
Šimon Špaček 9 months ago
Do not wait for "dream house", get something good enough and upgrade it. You can make a lot of changes to make it perfect. And there is a lot of wisdom in "measure twice, cut once". Measure, think, measure again, then buy, cut, start,... Do you have enough paint? On the bucket they say "enough for 12 square meters", but that is when everything goes perfectly, you will be lucky to get 10 meters. Cement bags? Have at least one extra. It is cheap and it is real pain if you are short or if you have to use old one. Get that extra bag!
Verfin22 9 months ago
Any home can be a "dream home". Put in the work and make it yours. My brother has bought two houses previously unbuilt to anyone else, chose all the colors, add-ons etc. I can't count the numerous times I've done work changing it. How do you not like something you chose from the ground up?
#44
No one knows what they are doing.
LooseSeal's $10 Banana 9 months ago
This is nonsense. I have a fairly decent idea of what I'm doing most of the time.
#45
Tons of people have cameras in the home and outside of it, be careful what you say on the property!
Mel in Georgia 9 months ago
For real. When my son was selling his home he overheard some comments made by potential buyers standing in the driveway that made him decide not to sell to them.
#46
Water/ plumbing, foundation, electrical….most expensive repairs.
location really does matter.
the longer you can live there, the better.
storage is very helpful.
#47
Ask for quotes for all inspections you’ll need, then add about $500 extra just in case. That money has to be in your account basically when you make an offer, plus your earnest money!
No one explained that part to us, but we had the funds so it didn’t matter!
ETA: If you’re putting in an offer and it doesn’t sit right with you, don’t do it. The first home we put in an offer on with our new realtor I felt nauseous, light headed, and just all around not good. I wrote it off as not feeling well, as soon as they rejected our offer I felt so much better. So trust that gut feeling.
The house we closed on and now live in, I had no hesitation and no icky feeling when we put in our offer.
#48
My realtor did not deserve $10k. I found the house and did most of the work. We need to develop the technology to automate these people out of their meaningless middleman jobs.
#49
Beware rewiring
(as I type I am in a hotel room waiting for the day the house is ready for me to go back in and get all that dust out, no regrets though).
#50
Don’t believe anything technical that the sellers tell you - have it verified by a professional. Bought a house that was flipped by a company and then owned for about 3 years. The owners told us they never had water issues in the basement - 6 months in told us that was a lie. It was purchased when the market was very hot and offers included waving the inspection. We did that and upon acceptance the sellers said they would provide theirs since they hadn’t made any significant updates - they decided that wasn’t the case anymore and dint provide it. Not to say sellers are full of it - but they are going to put their interest first.
Rachel Pelz 9 months ago
Agree 100%. I distintively remember asking about the outside insulation of the basement walls, and their answer was wrong. No, you did not add insulation when you did renovation work. That's up for us to do now as there is no indulation below ground level whatsoever. Figured that out long after we could have held sellers or the inspector we hired accountable. But well, we knew the age of this house.
#51
Pick the house that feels right for you. Everyone will have an opinion but only you know what you need in a house. And ignore the negative talk and horror stories. Also, I was surprised at how emotional the process is. Be kind to yourself.
Geoffrey Scott 9 months ago
And don't forget, if your home has increased in value by 50%, the "dream house" you want did too. LOTS of folks got screwed in 2008 by values dropping (paid $200k, assessed at $300k a year later, one year after THAT? Worth 75% of your initial loan.
#52
What the bank thinks you can afford and what you can afford are two different numbers.
I recommend a healthy emergency fund for home repairs. 5-10k if you can.
My first properties were rentals. Was great as it forces you to take a hard look at maintenance costs. Worth reading up on the basics to get a vibe on the costs of a home.
#53
Don't believe your lender and agent when they tell you wires take 20 min to process. Check with your bank and send it early, mine told me 2 days
Physically go to the settlement for the paper instructions and bring it to the bank to process it for scams and errors
Renovations have increased much more than I thought. Maybe I wouldn't have gotten a fixer upper.
If possible, do renovations before you move in instead of before you're selling it so you can enjoy them. Especially bedroom hardwood if you're removing carpeting because that will be a pain to do later.
#54
Don’t buy a house with carpet on the stairs. Not necessarily because they’re hiding anything, but because it’s a b***h and half to remove the staples.
Ashtophet’sRevenge 9 months ago
The problem is that for newer houses, you don’t have nice wood under the stair carpet… so at least the treads need to be replaced to convert it to wood.
MonsterMum 9 months ago
I don't know what colour the stair carpet was in my house when I bought it, it appeared to be mostly cat hair stuck down with cat urine! It was removed asap
Tropical Tarot 9 months ago
I will be inheriting a house with a dozen cats. Mostly feral but all are fixed.
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#56
I will probably get downvoted for this
If your state allows it, get a home warranty and renew it every year. Most people will say they are useless but it has been a huge benefit to me and my wife. They have limits in their policies but it does help.
Besides the yearly fee, you have to pay for each visit. Since 2013 I have gotten a new electrical panel, out if pocket, $200 for $1500 of work. I had a pipe burst. Out of pocket $65, repaired, not one but 3 different leaks. Garbage disposal died, paid $65 for the plumber. Outside AC unit died, due to the age, gave me $1500 for it. Which I used towards a new one. They have saved a lot of money.
#57
Google potential neighbors! One of ours is the town trash, which we learned after we moved in and he began harassing us. We would’ve learned a lot from Google.
superfluous 9 months ago
I don't get this? You Google the potential neighbor's name and what exactly tells you they are trash? In this particular instance what would have shown up in the results??? I could see checking a sexual offenders database, maybe. Also, where are you getting a list of the neighbors from?? Not all homes are owned by the people who live there.
#60
My inspector noted some minor things that needed repaired that weren't emergencies which did help with negotiations by a few thousand dollars. I wish I'd waited to fix several of those things, though, and waited to see what more critical things would be popping up over the next year or so and saved my money for those things instead.
Not everything needs fixed right away. Prioritize what's critical and wait on the smaller or cosmetic issues until you've gotten more familiar with the house. I had several plans for things I wanted to replace or change about the house and almost all of those things became lower tier problems that still haven't been addressed after 4 years. I plan on being in this house for years to come, it'd be nice if it was my dream home immediately upon moving in and stayed that way, but I've learned to accept that that's not reality with probably most if not all homes. Take your time and get comfortable before taking on big projects if the way it is currently isn't going to risk long term damage or greater expenses.
What do you think ?
nicholas nolan 9 months ago
I don't know why I bothered reading this. I'm going to die in someone else's property.
Littlemiss 9 months ago
I know right? Yay rent, costs twice to three times as much as a mortgage here.
Load More Replies... Mel in Georgia 9 months ago
Don't buy a home with a water heater in the attic! Neighbor was out of town when theirs failed. Lord what a mess that was!
wobbly jelly 9 months ago
When looking at houses have things in your head of "where will it live" as sellers have tidied / hidden - my list was stuff like - where does ironing board / vac go - those not often used stuff - suitcases / christmas tree and my main one - where will the bikes go - as many houses have been carved out to make the max of space , but converting garage / loft means no storage. Also check at different time of day is it on school route / pub route etc
Wendy Miller 9 months ago
Do your homework before buying. We got pre-approved for a home loan before looking. We also made a list of what we wanted in a house, what our non-negotiables were (absolutely no HOA), and making sure one of us could carry the mortgage if one of us lost our job. We had a good realtor who showed us some great houses. But with our list of what we wanted, we were able to find the right home for us.
GlitterPanda 8 months ago
Try to drive by the place at night and different times of the day if you can. It may be a lovely neighborhood, but you never know if the neighbors have a garage band or throw large parties.
GlitterPanda 8 months ago
The only thing I can think of of they are hard to vacuum?
Load More Replies... nicholas nolan 9 months ago
I don't know why I bothered reading this. I'm going to die in someone else's property.
Littlemiss 9 months ago
I know right? Yay rent, costs twice to three times as much as a mortgage here.
Load More Replies... Mel in Georgia 9 months ago
Don't buy a home with a water heater in the attic! Neighbor was out of town when theirs failed. Lord what a mess that was!
wobbly jelly 9 months ago
When looking at houses have things in your head of "where will it live" as sellers have tidied / hidden - my list was stuff like - where does ironing board / vac go - those not often used stuff - suitcases / christmas tree and my main one - where will the bikes go - as many houses have been carved out to make the max of space , but converting garage / loft means no storage. Also check at different time of day is it on school route / pub route etc
Wendy Miller 9 months ago
Do your homework before buying. We got pre-approved for a home loan before looking. We also made a list of what we wanted in a house, what our non-negotiables were (absolutely no HOA), and making sure one of us could carry the mortgage if one of us lost our job. We had a good realtor who showed us some great houses. But with our list of what we wanted, we were able to find the right home for us.
GlitterPanda 8 months ago
Try to drive by the place at night and different times of the day if you can. It may be a lovely neighborhood, but you never know if the neighbors have a garage band or throw large parties.
GlitterPanda 8 months ago
The only thing I can think of of they are hard to vacuum?
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