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I'm about to make an offer on a house
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I'm about to make an offer on a house - July 13, 2013, 09:01 PM

I'm terrified.

Anyone have advice? Things a new home owner should be thinking about? Lessons learned?

House is in Olney MD. We have our first kid on the way.
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July 13, 2013, 09:22 PM

Get familiar with Lowes/Home Depot..... you will spend a lot of time in both.

DIY is a good thing. It will save you plenty of money. That said it is important to know your limits and know there are times it is better to pay someone else who knows what they are doing to do certain things.

Check the insulation in your roof.......can make a big difference in heating and cooling costs.

If you have a lawn read the instructions clearly when it comes to weed killer. Fucked up a chunk of my lawn because I was assured "this will kill the weeds but not harm your lawn.". Thankfully my lawn came back with a bit of TLC.

Check the age of your applicances as well as the age of your water heater and AC unit.

Beyond that enjoy home ownership. Nothing like having a place to call your own.


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July 13, 2013, 09:23 PM

Your fauked! I've never drank Much before I had a house and kids lol.
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July 13, 2013, 09:40 PM

Don't fall in love with it too much. Play it cool. If anything about your loan, the house, etc... bothers you, listen to your inner voice.


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whoa preppy......
 
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July 13, 2013, 09:53 PM

home inspection.


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July 13, 2013, 10:32 PM

Don't look at the total number on the loan documents of the amount of the loan (including interest)......you WILL shit yourself.


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July 14, 2013, 09:32 AM

Have enough of a down payment to avoid mortgage insurance. It's nothing but legalized theft. Loan sharks are more honorable.


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July 14, 2013, 09:38 AM

A little peace of mind... Regardless of your offer you won't pay more than appraised value.

And I agree with the above statement regarding PMI.

Finally, get all the inspections you can. And if you find something you don't like then negotiate. Roofs are very costly. So are termites and large appliances.

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July 14, 2013, 09:43 AM

Several of these are mentioned above but worth repeating......

Don't get personal or attached....its a business decision.

Get a decent home inspector and not one that is recommended by the seller.
- Home inspectors don't really know that much about roofing and other items, nor will they get on the roof to inspect. If the roof is questionable of age or there is evidence of leaks, get a roofer to inspect.

Get familiar with Home Depot and Lowes

Do historical research on the home (i.e. age, presence of lead paint, asbestos, underground storage tanks, etc.).

Don't be house poor.

Prepare to spend money on repairs regardless of what you think.

Put down 20% to avoid the mortgage insurance.


Set up a slush fund account to pay for what will be inevitable repairs.

Upgrade your insulation in the attic (be sure to air seal first) to R-50.
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July 14, 2013, 10:13 AM

I'm almost in the same boat. Shopping around now and will hopefully be putting an offer in soon. Big step but you're buying at a good time (not great like it used to be but good nonetheless). Good luck man.


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July 14, 2013, 11:18 AM

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July 14, 2013, 03:09 PM

After you get in check the washing machine hoses. Don't use the cheap rubber ones. A few bucks now could save a lot of headaches and expense later.


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July 14, 2013, 03:54 PM

Things I wish I had done when I bought my first house:

1. Pay for your own inspection. Take no one's word for anything!

2. If it's even a remote issue, have a radon test done. I didn't and ended up buying a remediation system for the people who bought my house.

3. Don't buy in the winter. Not that it's a huge issue here, but you can't inspect a roof when there's snow on it.

4. If there is mature landscaping, have the sewer lines inspected. Having sewage back up into the house is a sure fire way to ruin your day. Even if the tree is "not that close", roots can travel, and find water!

5. All good advice above regarding savings, PMI, the local hardware store... How's your tool inventory?

6. NEVER EVER EVER buy a house that backs up to a busy street!!!!!!! It makes for an incredibly difficult sale. I had 20+ showings that all said the same thing. Beautiful house, too bad about the busy road right behind.

And with that road, you'll find yourself learning how to do fence work, deal with insurance agencies, and the local police when idiots park in your back yard... then run off and leave their girlfriend for dead in your back yard.

Quote:
Oh, and the above pics were from the most recent event... People loved crashing through my fence. I guess it was just the cool thing to do.

Last edited by salsashark; July 14, 2013 at 03:56 PM..
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July 14, 2013, 04:41 PM

Quote:
Originally Posted by BlackHatch View Post
Several of these are mentioned above but worth repeating......

Don't get personal or attached....its a business decision.

Get a decent home inspector and not one that is recommended by the seller.
- Home inspectors don't really know that much about roofing and other items, nor will they get on the roof to inspect. If the roof is questionable of age or there is evidence of leaks, get a roofer to inspect.

Get familiar with Home Depot and Lowes

Do historical research on the home (i.e. age, presence of lead paint, asbestos, underground storage tanks, etc.).

Don't be house poor.

Prepare to spend money on repairs regardless of what you think.

Put down 20% to avoid the mortgage insurance.


Set up a slush fund account to pay for what will be inevitable repairs.

Upgrade your insulation in the attic (be sure to air seal first) to R-50.
All this ^^^

- As a general rule, I would also suggest staying away from entry level homes built in the 1970 - 80's. This was the era of quick fab, pre-fab and frankly, they had not had things quite sorted out yet.

- Don't buy more house than you need. I can't tell you the number of people who get wild eyed over the amount of house they may be able to afford, but don't really need.

- Buy a Premium Super Duper Home Warranty. (HMS, Old Republic) Typically about $400/year. The first time you use it, you'll thank the heavens you did. I just had a $3500 heat pump replaced for $840 under my basic home warranty. Had I had the Premium plan it would have only cost me $100 (not including the cost the warranty) and covered many more issues.

- Inspect piping. If there is ANY polybuytlene piping, it will all need to be ripped out and replaced. Poly is no longer an approved material because it breaks down and begins leaking like a siv at joints and eventually, the pipe itself.
Walk away or have the seller include a seller gift back to you for the amount it will cost to replace the piping.

- Think about total cost of ownership, not just the mortgage and insurance payments
i.e.
- Unless you like spending half a Saturday every 3 weeks yard work, factor the cost of landscaping.

- Factor the cost utilities. It's probably one of the biggest overlooked. Heating and cooling a 2500sq ft space can get jawdropping in the winter/summer.



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July 14, 2013, 04:42 PM

Quote:
Originally Posted by salsashark View Post

Oh, and the above pics were from the most recent event... People loved crashing through my fence. I guess it was just the cool thing to do.
You need to install concrete pillions at this point.



“Any man who tries to be good all the time is bound to come to ruin among the great number who are not good. Hence a Prince who wants to keep his authority must learn how not to be good, and use that knowledge, or refrain from using it, as necessity requires”.

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