I need some home buying tips

Discussion in 'The Bar' started by Lucky Pierre, Jun 3, 2012.

  1. Lucky Pierre

    Lucky Pierre Well-Known Member

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    Little things that you wished you knew that you know now.

    My thought process is to find a home that has already been remolded or upgraded - the floors, fixtures, etc vs. a fixer-up her. My plan to find the best neighborhood I can afford so that it retains it's value vs. living out in the sticks.
     
  2. Mark Mayonnaise

    Mark Mayonnaise You look like a tree! VIP

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    Make sure the ad says Faggots Welcome
     
  3. Butcher

    Butcher ?

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  4. Mark Mayonnaise

    Mark Mayonnaise You look like a tree! VIP

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    I'm sorry that was mean
     
  5. zhukov

    zhukov Time traveler Gold

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    but funny
     
  6. zhukov

    zhukov Time traveler Gold

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    Pro Tip: Make sure the real estate agent knows you don't want to live next to anything like your av
     
  7. HaroldJackson

    HaroldJackson Well-Known Member

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    I buy fix er uppers in up and coming neighborhoods so I can't be of much help.
    Well actually, get a home inspector to make sure the work is done well.
    Go after it rains to see if there are leaks or anything is musty
    Check the basement and attic for fire or water damage.
    There's a ton of structural shit actually.
    Find out about the schools ant tax rates. Recent sales to see who's moving in and out. Are there a lot of apartments or do the people own? Is it old people?
     
  8. gwartney

    gwartney Unafilliated Gold

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    It's all in how you want to spend your money. You'll be paying for those remodels and upgrades one way or another. Either to the seller or a contractor when you have it done. If you are handy, you can save bundles by doing it yourself.

    I was always told to purchase the most house you can afford because it will appreciate in value plus as the years go by, you will earn more and the mortgage won't be such a burden. I don't believe this to be true anymore. You can't count on your house appreciating so you'd better put some equity into it with a decent down payment. In turn, don't buy one that you can't easily forsee making the payments. Salary increases are no longer an assumption either.

    As far as neighborhood, all I can tell you is it's your choice. I bought in the good neighborhood and my property taxes are insane. It was worth it to have my girls in decent schools but now that they are out of school, I'm getting ready to move out to the sticks where I can have more land, fewer neighbors, and lower taxes. I don't think living out in the sticks will lower your home value.
     
  9. VarmintSam

    VarmintSam Well-Known Member VIP Gold

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    If your buying an older house tell your RE agent or insurance agent to order a C.L.U.E (Consumer Loss User Experience)report. It will show you all the past insurance claims for the past few years. The main thing you give a shit about here are water claims. If there is a history of water claims then there is a good chance there will be mold down the line, which no insurance company will cover or charge you an insane premium and exclude the coverage anyway. Other than that go to zillow.com or somewhere similar to research resale values. Good luck
     
  10. 1Vegasgirl

    1Vegasgirl Well-Known Member VIP Gold

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    Buy low, sell high.:)
     
  11. Billy Brown

    Billy Brown Thinking big VIP

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    Don't buy the biggest house in the neighborhood.
     
  12. Billy Brown

    Billy Brown Thinking big VIP

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    Offer a lower price then they want, and never accept their first counter offer.

    Get an inspection from someone your realtor knows and make them fix EVERYTHING that is wrong with the house.
     
  13. Lucky Pierre

    Lucky Pierre Well-Known Member

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    I'm going for as most as I can afford. Life is short. If I choose a desire neighborhood close to the center of everything I should be ok with appreciation when you factor 10-15 years
     
  14. stripes

    stripes Active Member Banned User

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    the old rules dont apply. wages are stagnant & prop taxes & utilities will be always going up fast.
    buy a house you are comfortable in, & not a foot bigger. don't buy a house with huge vaulted ceilings either.
    preferably a brick house or vinyle siding, outside maint sucks a$$. sq. footage hit its peak in about 2006 & now people are looking smaller. new old rule, house is not an investment, its a home, purchae that way.
     
  15. stripes

    stripes Active Member Banned User

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    & never ever ever buy stucco. not one person in this country knows how to apply that shit without water damage within a year.
    & longterm, the country is overbuilt with an aging population, not a good formula for appreciation.
     
  16. idiotbox

    idiotbox Looking for a dime and found a quarter. VIP

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    are you married and do you have a dual income? if not, disregard below.
    if so, buy something you could afford if one were to lose their job.
     
  17. SIPAWITZ

    SIPAWITZ Bialy Whore Banned User

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    stay the fuck away from properties that have an HOA.

    biggest mistake i ever made
     
  18. TripTo My Taint

    TripTo My Taint Well-Known Member

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    Don't level your 401K to make the purchase.


    Wait...this might be the wrong thread.
     
  19. TripTo My Taint

    TripTo My Taint Well-Known Member

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    Word.

    Around here, someone in an HOA was late with their dues for like two years, and the association evicted their (home owner's) tenants, changed the locks, and has rented the house out to different tenants. The owners are locked-out of their home, forbidden to enter the dwelling, and two court rulings have gone in favor of the HOA. Unbelievable.

    And no, the home owners are NOT in foreclosure.
     
  20. stripes

    stripes Active Member Banned User

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    ya, we had a terrible get off my lawn kid hating hoa when my hood was built. we had a revolt led by me & another guy who were voted on & we ran those fuckers off. for some reason those old fuckers thought they bought into a retirement community when in fact, the avg 400 homes in our hood is 2 stories, 4 bedrooms & probably 2500 sq ft. the young families had enough of the few old cantakerous bastids running the place & my group of rebels was a shoe in....change..haha. i'm gladly outa that shit now & hated every minute of it. but i'm still the hood hero.:cheer:
     
    Last edited: Jun 3, 2012