Starting the house hunt!

[doubledip1]

Does anyone have any advice or things you wish you knew or things you wish you could go back and change?

We are quite excited. There's a house I LOVE, 6 acres, a pool AND a pond for Luna to swim in... but at the top of our budget. :-(

[POPTOP]

Sounds nice.

So many of the house shopping shows do not even begin to touch on what I feel is very important. Of course, you want something you like but what about the heating system, plumbing, electrical, AC, roof. Those are the really expensive to repair/replace. Is the house in a flood zone? Is it in an area where a supplemental generator is a good idea. Are trees around the house and what shape are they in. Is the basement tight and free of leaks.

As long as the bones are in great condition, the cosmetics can be done over time, paint, replacing toilets, etc.

[Maxx&Emma]

Fran gave you really great advice and I don't really have anything of value to add. Just wanted to send good wishes your way! I hope you find everything you are looking for.

[kimbersmom]

We've bought 3 houses now and our rule of thumb is to budget 10% of the house price for additional fees. That has covered the closing, minor repairs, redecorating, and small amounts of furniture. If that makes you gulp really hard, then at least ask your realtor how much closing costs will be. They're usually between 5-10 K and you have to have that on you for the closing, and I've had friends who were NOT expecting that.

You buy your neighbors as much as you buy your house. Don't be the nicest house on the block, unless you don't care about resale. Do spend plenty of time scouting the area before you make an offer. House #2 for us was gorgeous but it turned out the neighbors were AWFUL. So with house #3, we drove around neighborhoods, walked around the ones we were interested in, and spoke to everyone we met outside. We even knocked on the doors of the houses of would-be next-door neighbors. People might think you're odd, but that's a small price to pay for piece of mind.

Try to avoid being house poor. It's awful when you feel like all of your money is going to the house and you don't have any extra money for an occasional night out or vacation.

Good luck and have fun!

[Maggie's Mom]

I live in an area with very high real estate taxes. So, I would definitely suggest taking the taxes into account when deciding on a budget especially in an area with high taxes. Also, sometimes the current tax assessment will change based on the price you pay for the house. Our school district will appeal any tax assessment on a property that has sold for a higher dollar amount than the assessed value. We learned this the hard way, when several months after we bought our first house our taxes increased several thousand dollars a year. Also, if you plan to live in the house long term and have children at some point look into the school systems before purchasing. Good luck!

[Maggie's Mom]

Also, for our second house we asked around for recommendations for a good home inspector, instead of using the person the realtor recommended- and we found someone who was much more thorough and knowledgeable that way. We also shopped around with local banks for the lowest closing costs.

[dogmom]

Find a great home inspector. A home inspection can save you thousands if they find problems. You can choose to negotiate on the price or walk away if the issues are more than you want to deal with.

[janedoe]

I agree with the home inspection. Always get one even if you wind up ditching the cost because you decide against the home. They can't necessarily get to everything but a few hundred bucks may save you a ton in the future.

Also, give yourself some leeway on moving in. Closing rarely goes as smoothly as you might think so don't cut it too close between having to get out of where you are and getting into your new home.

[JC001]

Look at the quality of the build of the house as well as any updates made by previous owners. The house should have good bones (a good inspector can help with that). If previous owners did updates, don't get blindsided by things that look nice but were done on the cheap. Make sure they didn't skimp and cause safety issues (another thing a good inspector should catch), otherwise just be aware you may incur costs to redo things or replace things sooner than later.

[bett]

i now hate steps.