How to look for a House?

[anmccleod]

A realtor can do a lot of good for a first time homebuyer!
They will know of any special grants that you may be eligible for..like in my area there is a 5,000.00 grant just for first time homebuyers, all you have to do is attend an 6 hour class.
There are also different types of loans, and a realtor would be able to help you with every step. Before choosing just any realtor, do some research, ask friends, search the internet. Usually realtors have a specialty-some work with mostly luxury housing, others first time home buyers, others commercial properties, etc.

 

[russian blue]

Originally Posted by Duchess15

I did the calculations and I should have enough for down payment, closing costs, and all those little fees. I have also saved up for furniture and I am building my account back up so once all that money is gone, I still have a safety net.................
I have a financial advisor who will be giving me a loan and he knows exactly what I can afford and I will buy much lower than I know I can afford.

That's a great way to start off! Figure out your own finances beforehand and stick with it when it comes to purchasing a house. When you start going to see houses you can easily want to push up your affordability rate because of a nice kitchen or great backyard. But if you can't afford it later, it's going to be more heartache and stress.

Originally Posted by Yosemite

I think she went out of her way to find the 3 most dirty, gross houses in the price range I had suggested to indicate to us that we were going to have to pay more if we wanted more...... In her greed for a larger commission she lost the whole commission.

Linda, the same thing happened to me!

We also dropped that real estate agent and went to a new one. I actually think it's common practice if you don't fall within the agent's commission range and they don't want to waste their time.

Originally Posted by Yosemite

The other thing I highly recommend is have a qualified inspector do a thorough inspection of the house you are interested in before buying. In the offer make sure that the offer is subject to inspection. You can avoid a lot of repair bills later on by checking it out up front. It may cost a couple hundred dollars to get the inspection done but you could be saving thousands.

I totally agree that this is so important and should never be left out on either a new home or older home purchase. I just watched a news program specifically on real estate purchases that went bad. One person had a huge problem with mold behind the walls and another had flood problems. Get the inspection, but make sure the person inspecting the home knows what they are doing!

Originally Posted by GailC

Location can be important-you should consider job commute times esp with the price of gas.

Another piece of great advice.

The home of your dreams won't be wonderful it if takes you too long for the commute to work and the added wear and tear on your car, which adds to expenses.

Another thing I always mention to future home buyers is to look at the city plan for the neighbourhood you plan to buy in. The city/town could have a new development /garbage dump/nuclear plant that might be located in near future around your home. Therefore, prices could seriously be affected and there goes your investment.

When we wanted to buy our current home, we drove to areas in our job 'commuting' range and selected three areas we wanted to live in or near. Then, we contacted an agent that had a good history of selling properties in those areas.

I always buy a house with the intention of selling it. Can you sell your home if something happened (job loss, illness, job transfer) and you needed to sell quickly? Most people buy thinking they will be there a while but if something were to happen could you sell it?

I believe location to be the greatest determining factor and will always buy with that in mind. Being close to all amenities - public transportation, churches, schools, retail areas area - also are important factors depending on the community involved.

Good luck in your search!

 

[duchess15]

Originally Posted by Russian Blue

Another piece of great advice.

The home of your dreams won't be wonderful it if takes you too long for the commute to work and the added wear and tear on your car, which adds to expenses.

I believe location to be the greatest determining factor and will always buy with that in mind. Being close to all amenities - public transportation, churches, schools, retail areas area - also are important factors depending on the community involved.

Good luck in your search!

Don't worry. I am looking at moving closer to where I work to cut down on gas costs! I know...location, location, location. If I can find one that I really like and it's where I want, and it has all I want, I may just stay in that one.