Hey, Looks like I'm hitting the real estate market at the tender age of 23. I need HELP! Mainly advice, sometime this week I'll be viewing a home, and I need all the tips I can get, what to look for, what to ask about, anything you can offer. So far I've only got the majors figured out Age and Shape of the: Overall House, Roof, Well, Furnace. That's about all I got.... HELP!
First thing ...GO get PReapproved !!! Then you know exactly what you can get then you can decide where you want to look...
The preapproval isn't a problem. That's done. I plan on putting a down payment of about 35%, I'm not worried about the money (well I am) Looking for some of the prat falls that others have run into and have learned from.
Trevor, Don't forget to ask if appliances are included, if so, test the washer and dryer! Check out structure, in fact, hiring an engineer or licensed home inspector might well be money well spent:TU: Be sure to check floors are level, all doors close with no resistance or sticking. Check basement walls for water leakage, and MOLD behind any decorative walls, (my brother got burned on this). Check A/C if equipped. Check carefully around, and under bathrooms, kitchen sink, anywhere that water can drip into lower levels. Check condition of ALL plumbing, watch for different lines eg: copper to brass to galvanized etc., may not be compatible. Try to speak directly with the owners, rather than exclusively with Agent, if possible. Owners sometimes are more informative about the home. (I'm not slagging Real Estate Agents here!!) Questions to ask: How old is the home? How long have the owners lived there? What are the neighbors like? How many young families around? (they woldn't likely appreciate late night burnout sessions:Brow: :Brow: ) Who built the home? Is there any warranty/how much?/how long? If no garage, what about size restrictions for future const? Many cities and towns have limitations on garage size, usually based on lot size. What about parking extra cars/parts cars in your yard? I'm sure to think of others, I would suggest that every time you think of something/questions, WRITE THEM DOWN. Keep two separate lists, one for items to look for, one for questions. If I think of any thing else, I'll post it here, I'm sure others will ring in with advice. Good Luck, I may also be in the market this fall if things work out, only I will have a house to sell as well. Tom
I agree with hiring a professional home inspector, they work for you not the seller or the agent. One thing I would recomend checking is the electical system. Greg and I once rented a house that had a fuse box (the screw in type) on the main level and a regular breaker bos on the second level. The fuse box controled half of each floor and the breaker box controled the other half of each floor. One night during a thunder storm parts of the house lost power while others did not. All the fuses were good and none of the breakers were tripped. We called out the on duty electrician from an electrical co. to fix it. After about 4 hours he just took a common from a good source and tied it into the bad. He told us that the house would take 15-20,000 to redo and get up to code. We moved shortly after that and left the landlady with a $1400 bill.
Thansk guys! I'm going to look at the home tomorrow, we'll see how things go. I feel like I'm in way over my head, but I figure that's normal.
Hi Trevor; First time home buying can be rather intimidating. How about taking along a friend or family member who's been through it before? They could help keep you on an even keel. Good Luck, Hope it's a good buy:beer Tom
Hey Tom It's a good idea, but all of my family lives about 2.5 hours away, and I'm the only guy in my circle of friends that would be owning a house. If this goes well, I'll get my Dad to come down before we make an offer.
