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Thread: First time home owners dos and don'ts???

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    First time home owners dos and don'ts???

    So I've begun the process of selling my condo (hopefully get a decent price) and will most likely be buying my first house in 2016/17. For the homeowners on the site what are some of the things you wished someone had shared with you before buying a house or things you should do after?

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    Quote Originally Posted by handicapme View Post
    So I've begun the process of selling my condo (hopefully get a decent price) and will most likely be buying my first house in 2016/17. For the homeowners on the site what are some of the things you wished someone had shared with you before buying a house or things you should do after?
    Don't buy a brand new house 6 months before the bubble bursts and your home loses 40% value and you're still underwater or break even 8 years later. Yeah, wish someone had told me that........

     
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      MumblesBadly: Never hear of strategic default?
    It's hilarious that we as a society think everyone can be a dr, a lawyer, an engineer. Some people are just fucking stupid. Why can't we just accept that?

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    Quote Originally Posted by jsearles22 View Post
    Quote Originally Posted by handicapme View Post
    So I've begun the process of selling my condo (hopefully get a decent price) and will most likely be buying my first house in 2016/17. For the homeowners on the site what are some of the things you wished someone had shared with you before buying a house or things you should do after?
    Don't buy a brand new house 6 months before the bubble bursts and your home loses 40% value and you're still underwater or break even 8 years later. Yeah, wish someone had told me that........
    I hear ya man... I know a few people this happened to, not a fun time.

    I'm hoping the value holds or drops only slightly, thankfully rates are so low and prices are still relatively okay

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    Quote Originally Posted by handicapme View Post
    So I've begun the process of selling my condo (hopefully get a decent price) and will most likely be buying my first house in 2016/17. For the homeowners on the site what are some of the things you wished someone had shared with you before buying a house or things you should do after?


    What part of the country?
    How much?
    How much down?

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    Quote Originally Posted by handicapme View Post
    So I've begun the process of selling my condo (hopefully get a decent price) and will most likely be buying my first house in 2016/17. For the homeowners on the site what are some of the things you wished someone had shared with you before buying a house or things you should do after?

    Congrats. Realtors fucking suck so you will be handling most things yourself. Zillow is your best friend. Don't overpay. Have financing ready and shop around for rates. Rates are stupid low still. It's both a fun process and aggravating. We recently sold both houses and now looking for financing so I'm kind of in the same boat. Think about selling the house before you buy it. Most likely you will be there for five years, maybe less maybe more but if there are some things like road noise that will deter future buyers then you will be eating a fat dick.

    I bought a house as a rental with a busy street at a good price. After quickly decided I didn't want to be a land lord, I purchased the house without seeing it and there were n-words on both sides, I tried to sell. Luckily the market was strong and I didn't lose my ass, actually turned a small profit, but it literally took 30 showings with all feedback pointing to the busy street behind the house. After I bought the house, I went there for the first time and went out in the lanai and I could smell pot from the n-words next door. I was like fuck what did I do here. I put like 15k into the house, it was a foreclosure, and got the fuck out of dodge.

    The other house in Bonita Springs was beautiful right on the 18th hole and took forever to sell for unknown reasons. Actually nosey neighbors caused the problem. Every time there was a showing or open house the neighbors would come over and point out everything they thought was wrong with the house. I did good on that one but should have made an additional $80k or so.

    The house I live in sold in six days. Go figure. Sometimes you just can't predict things like that.

    Anyway, I'm homeless pretty soon so there is that.

    Good luck! What's the price range?

     
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      handicapme: ty

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    Quote Originally Posted by The_Lurker View Post
    Quote Originally Posted by handicapme View Post
    So I've begun the process of selling my condo (hopefully get a decent price) and will most likely be buying my first house in 2016/17. For the homeowners on the site what are some of the things you wished someone had shared with you before buying a house or things you should do after?


    What part of the country?
    How much?
    How much down?
    New York obv.
    350-500 range.... under 400 will need work done on something like that, but since my pops retired I have a contractor now who works for fruits and cake.

    20% or if over 500 15% and pay PMI for a year until my next bonus.

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    Quote Originally Posted by handicapme View Post
    Quote Originally Posted by The_Lurker View Post



    What part of the country?
    How much?
    How much down?
    New York obv.
    350-500 range.... under 400 will need work done on something like that, but since my pops retired I have a contractor now who works for fruits and cake.

    20% or if over 500 15% and pay PMI for a year until my next bonus.
    Just don't kill the guy before the work is done. This is something I wish I knew years ago.

     
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      Dupe_Fiasco: hof
      
      JACKDANIELS: rofl

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    Quote Originally Posted by Pooh View Post
    Quote Originally Posted by handicapme View Post
    So I've begun the process of selling my condo (hopefully get a decent price) and will most likely be buying my first house in 2016/17. For the homeowners on the site what are some of the things you wished someone had shared with you before buying a house or things you should do after?

    Congrats. Realtors fucking suck so you will be handling most things yourself. Zillow is your best friend. Don't overpay. Have financing ready and shop around for rates. Rates are stupid low still. It's both a fun process and aggravating. We recently sold both houses and now looking for financing so I'm kind of in the same boat. Think about selling the house before you buy it. Most likely you will be there for five years, maybe less maybe more but if there are some things like road noise that will deter future buyers then you will be eating a fat dick.

    I bought a house as a rental with a busy street at a good price. After quickly decided I didn't want to be a land lord, I purchased the house without seeing it and there were n-words on both sides, I tried to sell. Luckily the market was strong and I didn't lose my ass, actually turned a small profit, but it literally took 30 showings with all feedback pointing to the busy street behind the house. After I bought the house, I went there for the first time and went out in the lanai and I could smell pot from the n-words next door. I was like fuck what did I do here. I put like 15k into the house, it was a foreclosure, and got the fuck out of dodge.

    The other house in Bonita Springs was beautiful right on the 18th hole and took forever to sell for unknown reasons. Actually nosey neighbors caused the problem. Every time there was a showing or open house the neighbors would come over and point out everything they thought was wrong with the house. I did good on that one but should have made an additional $80k or so.

    The house I live in sold in six days. Go figure. Sometimes you just can't predict things like that.

    Anyway, I'm homeless pretty soon so there is that.

    Good luck! What's the price range?
    Using a realtor to sell my current place, will not be using one to buy.

    Yea I won't be getting a pre approval until my place is under contract, but with my credit score I should be getting the best rates. Going to aim for Citi or wells...

    Road noise and neighbors are hug apparently. Seeing houses listed for what I would think under 60k market value, but then you either see them located on a major road OR right behind a highway... My sister and bro in law are also looking and there was a perfect house for them, then they met the neighbors and they said fuck that.

    350-500k, hopfully lower range, anything off 500 I'll only put 15% down.

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    Quote Originally Posted by Pooh View Post
    Quote Originally Posted by handicapme View Post

    New York obv.
    350-500 range.... under 400 will need work done on something like that, but since my pops retired I have a contractor now who works for fruits and cake.

    20% or if over 500 15% and pay PMI for a year until my next bonus.
    Just don't kill the guy before the work is done. This is something I wish I knew years ago.
    Not much inheritance for me to go after lol jkjkjkjk. Nah but really he's going to be bored as fuck so the house is more for him to have something to do, also going to get a dog he can take care of. He's a great guy, always has looked out for me...

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    Quote Originally Posted by handicapme View Post
    Quote Originally Posted by The_Lurker View Post



    What part of the country?
    How much?
    How much down?
    New York obv.
    350-500 range.... under 400 will need work done on something like that, but since my pops retired I have a contractor now who works for fruits and cake.

    20% or if over 500 15% and pay PMI for a year until my next bonus.
    Do your diligence.

    Real estate agents are not your friend.

    Buy as a home first, and think about the investment part second.

    ask yourself if the neighborhood is in a rise or a decline. never buy in decline unless its a flip

    KNOW what the house is worth.

    Don't fool yourself, trust your instincts.


    Figure out your definition of your "bat cave" and don't settle, there are houses everywhere. Take your time

     
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      handicapme: ty

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    Quote Originally Posted by handicapme View Post
    Quote Originally Posted by Pooh View Post


    Congrats. Realtors fucking suck so you will be handling most things yourself. Zillow is your best friend. Don't overpay. Have financing ready and shop around for rates. Rates are stupid low still. It's both a fun process and aggravating. We recently sold both houses and now looking for financing so I'm kind of in the same boat. Think about selling the house before you buy it. Most likely you will be there for five years, maybe less maybe more but if there are some things like road noise that will deter future buyers then you will be eating a fat dick.

    I bought a house as a rental with a busy street at a good price. After quickly decided I didn't want to be a land lord, I purchased the house without seeing it and there were n-words on both sides, I tried to sell. Luckily the market was strong and I didn't lose my ass, actually turned a small profit, but it literally took 30 showings with all feedback pointing to the busy street behind the house. After I bought the house, I went there for the first time and went out in the lanai and I could smell pot from the n-words next door. I was like fuck what did I do here. I put like 15k into the house, it was a foreclosure, and got the fuck out of dodge.

    The other house in Bonita Springs was beautiful right on the 18th hole and took forever to sell for unknown reasons. Actually nosey neighbors caused the problem. Every time there was a showing or open house the neighbors would come over and point out everything they thought was wrong with the house. I did good on that one but should have made an additional $80k or so.

    The house I live in sold in six days. Go figure. Sometimes you just can't predict things like that.

    Anyway, I'm homeless pretty soon so there is that.

    Good luck! What's the price range?
    Using a realtor to sell my current place, will not be using one to buy.

    Yea I won't be getting a pre approval until my place is under contract, but with my credit score I should be getting the best rates. Going to aim for Citi or wells...

    Road noise and neighbors are hug apparently. Seeing houses listed for what I would think under 60k market value, but then you either see them located on a major road OR right behind a highway... My sister and bro in law are also looking and there was a perfect house for them, then they met the neighbors and they said fuck that.

    350-500k, hopfully lower range, anything off 500 I'll only put 15% down.
    Mrs. Pooh actually got her license so we could save on commissions. She sold our house in six days solely by putting it on MLS. We had professional pictures and nice virtual tour for like $175 and that was that. Saved us $12k right there. Then she got another $7k when we bought the lot we're building on. We didn't use her to sell the house in Bonita because we had promised it to someone else and didn't want to break our word but that would have saved us around $14k. $14k to not break my word. Sometimes I need to kick myself.

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    Plutonium Sanlmar's Avatar
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    Independent home inspection.

    This is huge.

    He will compile a list of repairs that will become contingencies to sale. He may unearth some disaster even the current homeowner is aware of.

    Can't stress this next one enough: You don't know a licensed home inspector. Do not look for a referral from your realtor. There is a relationship there obv. He is going to be loath to queer her deal.

    Do not divulge too much to your realtor either. She (it's always some useless empty nest housewife) is just a tool. Local realtors all know each other and their goal of course is to close, close, close and move on.

    If you have room to play above your offer, for instance, you are a fool to think this won't be revealed - even if it's only through subtle bungling.

    Looking for a new home is usually approached with joy and optimism. Wipe that smile off your face.

     
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      handicapme: ty
      
      The_Lurker: this is all great advice
      
      sonatine: nice.

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    Quote Originally Posted by Pooh View Post
    Quote Originally Posted by handicapme View Post

    Using a realtor to sell my current place, will not be using one to buy.

    Yea I won't be getting a pre approval until my place is under contract, but with my credit score I should be getting the best rates. Going to aim for Citi or wells...

    Road noise and neighbors are hug apparently. Seeing houses listed for what I would think under 60k market value, but then you either see them located on a major road OR right behind a highway... My sister and bro in law are also looking and there was a perfect house for them, then they met the neighbors and they said fuck that.

    350-500k, hopfully lower range, anything off 500 I'll only put 15% down.
    Mrs. Pooh actually got her license so we could save on commissions. She sold our house in six days solely by putting it on MLS. We had professional pictures and nice virtual tour for like $175 and that was that. Saved us $12k right there. Then she got another $7k when we bought the lot we're building on. We didn't use her to sell the house in Bonita because we had promised it to someone else and didn't want to break our word but that would have saved us around $14k. $14k to not break my word. Sometimes I need to kick myself.
    good man on the not breaking your word thing... 14k would be tough.

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    Quote Originally Posted by The_Lurker View Post
    Quote Originally Posted by handicapme View Post

    New York obv.
    350-500 range.... under 400 will need work done on something like that, but since my pops retired I have a contractor now who works for fruits and cake.

    20% or if over 500 15% and pay PMI for a year until my next bonus.
    Do your diligence.

    Real estate agents are not your friend.

    Buy as a home first, and think about the investment part second.

    ask yourself if the neighborhood is in a rise or a decline. never buy in decline unless its a flip

    KNOW what the house is worth.

    Don't fool yourself, trust your instincts.


    Figure out your definition of your "bat cave" and don't settle, there are houses everywhere. Take your time

    Thank you for this.

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    I actually came up with the price. It moved so quick because a couple people from up north purchased with the intention of moving in next year when they retire so they offered less for the house but are allowing us to continue to live for a grand a month for 15 months. Overall it worked out perfect and we still got over the average price/sq ft for the neighborhood.

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    get yourself a membership at the hardware/garden supply stores...


    you will be there just about every Saturday buying a new tool to fix the latest problem that crops up...


    what a handyman/gardener you gonna get to be

     
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      handicapme: :(
    (long before there was a PFA i had my Grenade & Crossbones avatar at DD)

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    Quote Originally Posted by Sanlmar View Post
    Independent home inspection.

    This is huge.

    He will compile a list of repairs that will become contingencies to sale. He may unearth some disaster even the current homeowner is aware of.

    Can't stress this next one enough: You don't know a licensed home inspector. Do not look for a referral from your realtor. There is a relationship there obv. He is going to be loath to queer her deal.

    Do not divulge too much to your realtor either. She (it's always some useless empty nest housewife) is just a tool. Local realtors all know each other and their goal of course is to close, close, close and move on.

    If you have room to play above your offer, for instance, you are a fool to think this won't be revealed - even if it's only through subtle bungling.

    Looking for a new home is usually approached with joy and optimism. Wipe that smile off your face.
    I refuse to use a realtor when buying (only to sell since the person is charging 4%). My sister and bro inlaw have there own guy, dude is actually a structural engineer and was able to save them a TON on a house they were about to go into contract on. Apparently there was massive structural damage that would have cost them over 80k+ in 5-10yrs.

    Thanks for the advice, will def keep this in mind. When I was buying a car last year, the day started off with me smiling, but the end of that night I was ready to just buy a bike, luckily for me I got very lucky thanks to my pops convincing me to try one more place. I'm def going to handle this more as a business transaction that may never work so not going in smiling at all, putting on the "ima kill someone" face.

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    Quote Originally Posted by handicapme View Post
    Quote Originally Posted by Sanlmar View Post
    Independent home inspection.

    This is huge.

    He will compile a list of repairs that will become contingencies to sale. He may unearth some disaster even the current homeowner is aware of.

    Can't stress this next one enough: You don't know a licensed home inspector. Do not look for a referral from your realtor. There is a relationship there obv. He is going to be loath to queer her deal.

    Do not divulge too much to your realtor either. She (it's always some useless empty nest housewife) is just a tool. Local realtors all know each other and their goal of course is to close, close, close and move on.

    If you have room to play above your offer, for instance, you are a fool to think this won't be revealed - even if it's only through subtle bungling.

    Looking for a new home is usually approached with joy and optimism. Wipe that smile off your face.
    I refuse to use a realtor when buying (only to sell since the person is charging 4%). My sister and bro inlaw have there own guy, dude is actually a structural engineer and was able to save them a TON on a house they were about to go into contract on. Apparently there was massive structural damage that would have cost them over 80k+ in 5-10yrs.

    Thanks for the advice, will def keep this in mind. When I was buying a car last year, the day started off with me smiling, but the end of that night I was ready to just buy a bike, luckily for me I got very lucky thanks to my pops convincing me to try one more place. I'm def going to handle this more as a business transaction that may never work so not going in smiling at all, putting on the "ima kill someone" face.
    You wanna talk about a bad day? I had a gas leak in my truck earlier this week. I finally couldn't take the fumes anymore so I brought it into the shop. They put it on the lift and the truck literally broke in half. I'm now looking for a new truck. This was a 2008 F-150. I didn't know whether to laugh or cry.

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    Quote Originally Posted by GrenadaRoger View Post
    get yourself a membership at the hardware/garden supply stores...


    you will be there just about every Saturday buying a new tool to fix the latest problem that crops up...


    what a handyman/gardener you gonna get to be
    I'm hoping my dad is around a veryyyyyyy long time to handle all of this haha. No but seriously, the second I close on the house, getting a new 21 month no APR CC and driving right to home depot and lowes.

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    Quote Originally Posted by Pooh View Post
    Quote Originally Posted by handicapme View Post

    I refuse to use a realtor when buying (only to sell since the person is charging 4%). My sister and bro inlaw have there own guy, dude is actually a structural engineer and was able to save them a TON on a house they were about to go into contract on. Apparently there was massive structural damage that would have cost them over 80k+ in 5-10yrs.

    Thanks for the advice, will def keep this in mind. When I was buying a car last year, the day started off with me smiling, but the end of that night I was ready to just buy a bike, luckily for me I got very lucky thanks to my pops convincing me to try one more place. I'm def going to handle this more as a business transaction that may never work so not going in smiling at all, putting on the "ima kill someone" face.
    You wanna talk about a bad day? I had a gas leak in my truck earlier this week. I finally couldn't take the fumes anymore so I brought it into the shop. They put it on the lift and the truck literally broke in half. I'm now looking for a new truck. This was a 2008 F-150. I didn't know whether to laugh or cry.
    How the fuck? Insurance???

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