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Hi Guys, so i don't ofter post questions and seek out help. but i figured with all the experience of everyone here you might have a few tips for me.

So my boyfriend and i have decided to buy a house. Neither of us have ever owned before (just rented) we went through the whole mortgage pre-approval and we are starting to look, but so far all the houses that we have looked at have been basically destroyed inside. (chunks of wall cut out/exposed pipes etc)

So i wasn't sure if anyone had any tips for a 1st time home buyer. I'm not looking to rush into this so if anyone has any tips i'd appreciate it.

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\"I dream of a better tomorrow, where chickens can cross the road and not be questioned about their motives\"

Racegal, I could write a book on the subject but I'll keep it short.

1. The old adage \"location, location, location\" still applies.

2. Kitchens and baths are still the most expensive renovations to do.

3. Roofs aint cheap either but paint and sheetrock is.

4. Buy the best house you can afford but don't get \"house poor\".

5. Don't fall in love, there's lots of houses out there.

6. Energy upgrades (New heating plant, double pane windows, etc) are worth paying a little extra for.

7. Pay attention to what your inspector says but remember he can't see inside of walls.

8. Don't pass up a great house just because you don't like the layout. Even load bearing walls can be moved using today's engineered lumber.

9. Make certain previous major renovations are legal. Once you sign on the bottom line you assume responsibility for any and all changes to the property both old and new. Friend of mine bought a nice 3 family with plans to live in one apartment and rent out the other two. Only problem was the 3rd apartment wasn't legal, something he found out 2 years later.

10. Hopefully either one or both of you are reasonably handy. If you are, don't be afraid to tackle little projects, you might surprise yourself at how well it turns out. It will also give you the confidence to take on larger and larger renovations.

That's my top ten. Good luck and welcome to the happy home-owners club.


OC

I just bought a house up in WY for the wife to move into when she tranfers her job at the end of the year. This is the second home we've purchaced and both were built in the '70's. Heres a few things I've learned along the way.

Make sure the wirering is Copper, not Aluminum, and especially if it's older than 50 years, NO CLOTH INSULATED WIRE! These are fire traps.

I agree whole heartedly with everything Chief laid out for you. Especially with shadowing the home inspector. You can learn so much about the place by just following him through his inspection. Often they are even willing to tell you how to correct some of the problems by yourself.

Take notes when talking with him and keep tabs of all that he finds. True, he'll be printing out a full report, but often their reports are not nearly as revieling as actually talking to them.

Once you have found all the problems with the place, keep looking. Chances are you'll find some more.

Get to know your local hardware stores. There's a wealth of information you can pick up from some of the people who work there, but beware, some are just salesmen who don't know their a$$ from a hole in the ground. You usually find these at the big box stores like Lowe's and Home Depot.

Start buying some books on specific areas of home repair. There are large books out there that are supposed to be all encompassing, but they aren't nearly as good as the specialty books. By reading about electrical, and plumbing, you'd be surprised at the money you can save on some basic repairs, like replacing a standard outlet next to a sink with a new GFI outlet. Takes about 15 min. and can save you over $100. Just make sure you turn off the right breaker before pulling the outlet.

Start looking at some basic tools as well. Hammer, drill, basic set of screw drivers. Then start looking at tools specific for jobs you want to take on.

Next, don't be afraid to ask for help, either here, from friends, or from some of the pro's. I'm about to redo a bathroom in the new place, and I've never done tile before, but I'm reading a book on it, and I have a friend who's done it before and is willing to help. So I'll tackle this one myself and lean a little on the way.

Back to shopping for the new home: Make sure that in addition to getting the \"Whole House Inspection\" that you also pay the money for a \"Termite Inspection.\" We don't normally have bug problems out here in the West, though they have been known to happen. They also look for problems from anyother critters and crawlers. Well worth the money.

When looking at a house, keep an eye open for any signs of leaks on the ceiling, around the windows and in the corners where the walls and ceilings meet. If there's a basement or crawlspace, grab your flash light and dive in. These are other great places to look for water damage. Stains on wood or discolored wood are good indicators to look for.

If there are any trees or bushes next to the house, make sure that they are alive, not in contact with the house, (they can damage the house when the wind blows hard), and that their roots are not damaging the foundation. The Home Inspector should look for this.

By the sounds of you post, I think you're off to the right start. Figure out what you can afford in the way of mortgage payments and what the bank will loan. Just be careful to give yourself some wiggle room with your payments. A mortgage payment that you can just bearly afford will get you in trouble fast. Make sure you'll have the money available to handle emergency repairs when they occur, and they will occur. Do your best to live within your means and you'll be fine. If you can get a budget together that leaves you with at least $200 in hand after all the bills are paid and the pantry is filled, you should be fine.

Also be sure to shop around the different banks for the best intrest rate. They can vary greatly, and don't let them talk you into an Adjustable Rate Mortgage, (ARM). More people have lost their homes due to these than any other reason. They start out cheap and within a few years your mortgage payment increases significantly.

Make your down payment as much as possible. For every dollar you put down, is a dollar of you house you actually own and a dollar back in your pocket when you sell, not to mention one less dollar that you'll be charged intrest on by the bank. This is an investment.

A lot of information to be sure, but it sure beats the hell out of giving your money away to a landlord every month. This is the best time for a first time home buyer to buy.

Keep a sharp eye and keep us up to date on how it goes for you.

GOOD HUNTING!

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Slow is Fast, Fast is Slow
Violence may not be the best option, but it IS an option

Wow thanks for the help Ice and OC, i really appreciate the tips!

So far we have not seen anything promising but were hopeful. As for the handy part, I know my way around a car (thanks to sniper but its been a few years) I've never tried any home improvement projects. I'm always willing to try though, i'm not afraid to get a little dirty.

As for the money part, with the amount of a loan they said we were approved for, by my calculations it would leave us pretty much flat broke at the end of the money after paying other bills and buying food. So i assume i have to look a good chunk under what they said we could afford so that i actually can have the extra money in the bank. This is no quick thing thats for sure. I'm hoping since we are 1st time home buyers we can get that 8,000 tax credit, but you have to settle by December 1st......

It will happen one day i'm sure.

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\"I dream of a better tomorrow, where chickens can cross the road and not be questioned about their motives\"

Ice Pirate and OC had some really good tips, but I have a few more to add about the process itself.

My wife and I just closed on our house two months ago, and here is what we learned.

Find a good realtor you are happy with and make sure he/she understands your expectations. Our relator stopped being proactive once we made the offer on our house. The house was bank owned, and the bank did not move through paperwork very quickly, and the listing agent on the house was just a guy with a real estate license throwing a sign on foreclosures and shuffling papers. It took us twice as long to close on the house as we expected, including blowing our projected closing date twice, and putting us in a bind with our apartment lease. We made it all work, but would have loved to strangled our realtor for not keeping us updated and not putting a little more pressure on the bank to expedite the process a bit.

Stay proactive with your bank. ou don't need anything else fromo make sure that you don't need anything else from the seller that you don't need anything else from the seller. We almost blew our third closing date over a termite inspection.

Ask questions about procedures in your area and how things will work. Real estate laws and customs vary greatly by location. I remember when my parents bought the house they live in now, the attended closing, signed all the documents, and left with the keys. When we bought ours here in Nevada, we found out (at the last minute) that we wouldn't get the keys until after the sale of the house was recorded by the county recorder 1-2 days after our loan paid, which was they day after our closing. Also, what fees the seller pays varies by location, find out what is normal in your area and know what to expect.

Keep an eye on your closing costs. Ours snuck up on us. We were planning on paying little to nothing at closing after what the seller was paying and the money our bank was contributing...until their estimates of certain fees changed, and then we ended up closing at the beginning of May instead of theend of April. Remember, at closing, you pay a prorated mortgage payment for the remained of the month as well as the other fees that are thrown in there. Our closing costs jumped about $1k when we slipped past the first of the month.

I also want to echo what everyone else has said so far. Get an inspection done, and follow the inspector every step of the way. Our inspector took pictures of everything and sent over a report, but the report only averaged about one sentence per thing wrong. Thankfully, as I was following him, he thoroughly explained how I could fix some of the stuff and gave me helpful information like where the best place to go for a part was, or to be sure to use a certain type of material. This is also where I have to kind of disagree with OC too, because when we had our house inspected, our inspector COULD see into walls. He had a hand held infrared camera he used (for the military folks, it looked like a small FLIR/targeting pod). He scanned the walls for spots that were darker or lighter, as well as used it under the sinks to help me find a few leaks under them. He also used it to make sure that the AC and heat blew sufficiently cold/hot air.

I am sure I missed some stuff, but hopefully this helps. Be sure to ask if any other questions come up. The only other advice I can think of right now is to be patient, and try to keep your cool. It got really easy for my wife and I to get at each others throats when things got stressful, and it never accomplished anything other than pissing each other off more...

Best of luck to you guys, hopefully you come across a wonderful house soon!

All very good things to keep in mind! On a lighter note.....unless you really like chipping ice from a frozen driveway in the winter a house with a southern exposure is a really nice to have as well. My wife didnt think it would be a big deal untill our first winter in the house. The guy across the street was having a fun time shoveling and chipping and we barely have to shovel if at all. When the sun comes out the driveway almost cleans itself.

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Gravity's not just a good idea.......its the LAW!

I wouldn't buy a house in this market, prices are still depreciating.

Wait. that would be my advice.

Well as it is looking right now i need more money for a down payment or the mortgage is going to kill me.

So it looks like i keep being \"slave to the grind\" and work and pack that money aside.......at least until i hit the lottery.

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\"I dream of a better tomorrow, where chickens can cross the road and not be questioned about their motives\"

Hang in there Racegal. You're doing the right thing by looking and learning and saving. Buying a house is not something you want to rush into, and remember that we're all here to help if you need anything.

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Slow is Fast, Fast is Slow
Violence may not be the best option, but it IS an option

VA loan...little to no money down (just a pain...hurry up and wait still applies).

What the bank approves you for...probably need to go quite a bit under their quote. Food and extra expenses will still be needed. Don't get in over your head.

On the subject of extra expenses...no matter the age of the house there will always be something that pops up or needs repaired. As stated above there are some things that are crazy expensive and others that aren't so bad with a little elbow grease.

Don't always jump at the first house you fall in love with...but don't just settle for what's available right now either. Keep your options open.

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SoWW #2485
Cave Putorium!

In case you are still looking--

-When it comes to the $ thing, if times are tight, I have found you are better off taking a lower priced house that needs some TLC (not major overhauls) than a house in great shape with a much larger house payment--your payment will NOT go down (probably UP with taxes) but once you get these $50 here, $100 here projects done, your house payment is still lower. Plus you can do the projects as you get the $ ,and that $ won't be demanded monthly.

CHECK THE BATHROOMS!!! Feel how the floor around tubs takes your weight when you walk right next to them. Linoleum might still look great, but the sub-floor could be rotting if there has been hidden leakage.

That's my advice, short of writing a book--we are in our 3rd home....

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\"Hokey religions and ancient weapons are no match for a GAU-8/A at your side, kid.\"--Hawg Solo

Oh yeah we are still looking, we really have no plans to just take the 1st thing that comes along.

I didn't even think to check the bathroom flooring/subfloor...I'm learning quite a bit from you guys thanks.

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\"I dream of a better tomorrow, where chickens can cross the road and not be questioned about their motives\"

On the matter of bathrooms....check where the toilet mounts as well. Easiest way I know is to straddle the toilet with a leg on either side and rock back and forth. If the toilet moves with you, you have problems...

So we still have yet to find something that we both like, but i ran into another question that you guys may be able to help me on.

Several of the houses we found are listed that they have and asbestos roof. I thought that asbestos was completely unsafe and caused cancer and such.......am i wrong?

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\"I dream of a better tomorrow, where chickens can cross the road and not be questioned about their motives\"

RaceGal, the only time asbestos is considered unsafe is when you disturb it. Asbestos particles in the air are the culprit so if it's not disturbed it's not an issue. At some point the roof will have to be replaced, now it's a problem and probably an expensive one. Asbestos mitigation can only be handled by a licensed contractor and you'll pay dearly for that.

OC

And if you end up buying a home with said roof type, start praying for a major hail storm.

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\"Those who hammer their guns into plows
will plow for those who do not.\"
- Thomas Jefferson

So basically if i see a house with this listed, either skip it or see if the current owner wants to replace the roof 1st.

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\"I dream of a better tomorrow, where chickens can cross the road and not be questioned about their motives\"

Abso-freakin-lutely!!! I wouldn't even consider a house with asbestos ANYTHING! The price for adjusting/moving/demolishing/replacing ANYHTING asbestos is through the roof!!!! And I wouldn't be surprised if one day Al Gore and/or the gov't require replacement at the homeowner's cost, as it could be deemed a \"public safety hazard\"!!

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\"Hokey religions and ancient weapons are no match for a GAU-8/A at your side, kid.\"--Hawg Solo

NOT JUST ROOFS! For years, asbestos was used to make floor tile. Again, it's perfectly safe, until you cut or tear it. Most of our older buildings on The Ice at McMurdo Station were built back in the late 50's and early 60's and many of them have asbestos floor tile. We have to run an Asbestos Mitigation team any time we need to run cable or piping through the floor.

I'd say there's a real good chance that if it has an asbestos roof, it probably has it in the floor tiles as well. I found a site that warns of it being used in houses older than the early 70's. If I were you, I'd use that as a yard stick for looking at homes. Much older than 1970, you're going to start finding things like asbestos and unsafe electrical wireing.

http://www.ci.bloomington.mn.us/main_to ... bestos.htm

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Slow is Fast, Fast is Slow
Violence may not be the best option, but it IS an option

Great thanks guys i really appreciate all the info

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\"I dream of a better tomorrow, where chickens can cross the road and not be questioned about their motives\"

Not just roofs and floor tiles!

My last house even had asbestos siding. It's not as bad because you can always paint over it like wood siding and keep it looking good...so you don't have to ever replace it.

Good tip about the toilet floor mount.

One thing to consider as a first time home buyer...there's a 10% tax credit/loan available up to $8,000 ($80,000 house). As a first time home buyer you can get this money and not pay it back if you're in the house for something like 5 years I think. Only problem (?) is it ends in October.

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SoWW #2485
Cave Putorium!