We're house hunting. Our 3 bedroom townhouse isn't ideal anymore, as one bedroom is on the ground floor (my studio) and the kids share a bedroom next to ours on the top floor. We want a 2 car garage, rooms for everyone plus a guest, our own yard... the American dream, yada yada yada.
When you house hunted in the past, did you end up compromising on any of your must-haves? If so, on what? Do you regret the compromise in the long run?
Did you save for a bigger down payment for awhile, or finance almost everything?
Did you go over budget?
Which non-traditional questions are you glad you asked about the home and property? Which things, in retrospect, did you wish you had asked before buying? (I'm thinking beyond the normal due diligence stuff like dry basement and roof age, etc)
What was your biggest unexpected expense(s) related to moving and settling in?
Did you do any initial work before you moved in? What was the scope of the fit up? Did things go as planned/budgeted?
How long did you search before putting in an offer? How many houses did you visit before you found yours?
Answer as many or as few as you wish!
Re: Let's talk about buying houses
I compromised almost all of my must haves, no ragrets:
-We are in the city next to the city I wanted to live in, I LOVE my neighbors and neighborhood. My friend who lives in my ideal city hates hers.
-I wanted turn key, now we slowly, very slowly, get to fix it up and put our fingerprints into it.
-wanted better school district, still want a better school district
Before we put in an offer, I parked outside the house at night (before we had LOs) and counted the cars that drive by. We asked about crime in the area, also... I can't remember anything else.
We didn't do major projects when we moved in. We prioritized our projects and then saved up until we could pay cash for them (most people gave us discounts). Things went well all around, but we definitely learned cheaper is not better.
Unexpected surprises: our venting system under the house was destroyed by animals. They left the vents on the side of the house broken. My husband was SO thankful our crawl space wasn't tiny, he had to go under so much. Gross.
We scoped out houses for a month. Saw about 15 houses, looked at a billion online.
Good luck, lady!!!!!
Started dating February 6, 2012
The house doesn't have a separate dining area, which I originally wanted, but we stuck to our must haves of # of bedrooms, hardwood floors, and finished basement. I'm happy with the choices we made, the space still works for what we need.
We had 20k saved up for down payment and financed the rest. We refinanced last year from a 30 to a 15 year mortgage for an awsome interest rate and the same monthly payment, so we're lucky even though we bought at the top of our budget.
Closing costs, processing fees, legal fees, should all be considerations financially that you can talk to your real estate agent about. Some lending programs require thy you have a certain amount of unspent money in your bank account. For us it was $4,000. We didn't know about that befor, it was our biggest surprise.
Other expencise that pop up are moving trucks, copying keys or changing locks, window treatments for the new house (if not included), furniture for new rooms or space, cost of switching utilities if there is any, paint if you're planning on painting, cleaning supplies, and if you need it, childcare for loading and unloading.
I wish we had asked the seller to take care of more of the little minor things that piped up on inspection. We had them fix all the major issues, but there were a few small easy to fix ones that we accepted because we coul fix them, but they were a pain once we got into the house and took us longer to fix than we anticipated.
Always ask about electric, water heaters, AC age etc (those are obvious) but also check closely for even small wet spots in bathrooms and kitchens. Closet and storage space were important to me. ask about the neighborhood and check out the sale prices of other homes around there, as well as how Lon they sit on the market before selling.
I have to go make my toddler breakfast, I'll try to add more later if I have time
We did a small downpayment (3%) but property is cheap here so the mortgage is still super affordable.
There were some things I asked based on getting burned when I bought my first house and also based on my job (CPS/foster care). I wanted to know if the previous owner was a DIYer and what projects he did himself, and whether there were any pest infestations (especially bedbugs and cockroaches because they are a nightmare to get rid of).
I checked the location of the pipes in the basement because pipes against an outside wall with poor circulation will freeze in the winter here - I learned that after many mornings in the basement with a hair dryer at our last place.
I measured to make sure there was a place for our larger furniture items. I forgot to measure the staircase opening though and our headboard didn't fit up the stairs- oops!
I drove around the neighborhood to get a feel for it. I wanted a place with mostly owner occupants and not apartments because it tends to be a more stable environment.
I checked our state's sex offender registry for the address so I could see where the offenders were located.
I sat outside at different times of day listening for screaming neighbors and barking dogs and such.
We looked at about ten places before settling on this one.
- make upgrades
- create a savings
- invest elsewhere
- vacation
we believe in living below our means often times and are very happy with our decisions. Obviously be cautious about what you're approved for vs what you realistically can spend. (This may not be as much of an issue as it was in 2008 when we purchased our home)
A garage was a must for us after living in the city and waking up to cold cars.
We also wanted to live within easy driving distance to the city in an area with a "country" feel. Our location is perfect, and we crossed county borders so the taxes are much lower.
We have friends who purchased a home next to a creepster sex offender, but only learned that after they moved on. Make sure to check the registry.
1) Loads of storage- but useful storage. An empty basement is not useful storage to me- you won't put your vacuume and winter coats down there.
2) I also wanted a foyer- it's nice to have entry space that isn't living space- somewhere to take off shoes & coats and put bags before you start leaving all the things on your kitchen table.
3) A bathroom on every living floor is a must, but a shower on the 1st floor is weird. You'll never use it, but 3 full baths costs more than 2.5 baths.
4) garage with entry to the house. Our old house had a garage, and it was attached to the house, but had no entry. This does you no good when it's raining.
5) laundry on the living floor. You know how much laundry gets done. Way easier to load/change when it's not in the basement. I can change laundry while cooking dinner and watching the kids. Not possible if it's down a flight of stairs.
6) somewhat separated living space. People love open concept. It's nice to an extent, but if your first floor is one HUGE room, if there is a mess anywhere, you can see it everywhere. Our kitchen includes eating area, and has a half wall to the family room. The dining room/office/play room are less open to each other, which is actually quite nice.
7) look past bad wall colors, furnishings, and clutter. It scares most buyers off, so the property will sit, and you might get a better deal. You're going to paint anyway to make it your own, so who cares what you're painting over. And the seller has to take all their shit with them.
Finance wise:
1) put 20% down. Otherwise you have to pay private mortgage insurance (PMI) and its a waste of money every month. Plus the second mortgage (the one that covers whatever you take out over 80% of he home's value) comes at a higher interest rate.
2) absolutely get a fixed rate. Variable may get you a lower interest rate for now, but then you never know what you'll face in the future, and rates won't get much lower than they are now.
3) expect to spend about 10% of what you pay for the house to get settled. Between bigger trash cans, new paint, new carpet in a room or two, and furniture that fits the new house better, it adds up. Best to plan for it. Or be comfortable knowing that it will take some time to get things just how you want them.
My suggestion is not to feel pressured into making an offer based on knowing that other showings are scheduled. We had second showings on two houses, the first ended up having an accepted offer and the second there was other showings that day. I really loved the house but we should have taken a few days longer.
We ended up at the top of our price range but will have to do very little to the house. The homes that were less $ just needed so much work and where we are there wasn't really a middle ground when it came to price and amount of repairs.
Enjoy the process and take time before making an offer!
- Maybe a larger yard, since I enjoy gardening and am now concerned about LO having a space to play. I kind of wanted a second bathroom (my house is 2BR/1BA) but at the time I was single and it didn't seem necessary. My neighborhood is pretty rough around the edges but I like it and it is convenient to a lot of areas. I know that if we have a second kid we'll outgrow this house, but that's all theoretical at this point.
Did you save for a bigger down payment for awhile, or finance almost everything?
- Nope, I just put 10% down.
Did you go over budget?
- I think I bought on the higher end of my approved range, but didn't go over.
Which non-traditional questions are you glad you asked about the home and property? Which things, in retrospect, did you wish you had asked before buying? (I'm thinking beyond the normal due diligence stuff like dry basement and roof age, etc)
- Basically "What were you thinking??" regarding fake wood paneling, drop ceilings in the bedrooms that look like they belong in an office. All that shit was ripped out with extreme prejudice.
What was your biggest unexpected expense(s) related to moving and settling in?
- Nothing really. My furnace is a ticking time bomb however, ready to die any day apparently.
Did you do any initial work before you moved in? What was the scope of the fit up? Did things go as planned/budgeted?
- No. I literally had $.08 in my bank account once I bought my place. I waited a good 6 months - year to do any work on it. Would have been nice to do the work before I moved in, but whatever.
How long did you search before putting in an offer? How many houses did you visit before you found yours?
- I actually looked for homes twice, once in 2006, and again in 2008 when I bought my place. In 2006, the market was at its peak and it just seemed absurd to buy anything after looking at two dozen overpriced shit boxes. Second time around I looked at about half a dozen places (and a million more online). The market had dropped some (though in retrospect it would have been better to wait another year).
I was glad I asked what the heating/electrical bills were, so when we got a $500 gas bill last winter, we weren't too surprised. I wish I had asked what their city taxes were, because they are astronomical.
I didn't have to compromise anything on my wishlist. It's my dream home. However, I wish I had taken into account that with a growing family, I wouldn't have time to do a lot of the projects and would have to hire them out, making them much more expensive.
Moral of my tl;dr is that 20% down is best but is not the end of the world and you aren't necessarily stuck with pmi forever.
Started dating February 6, 2012
My advice..read all the fine print in the 1 year home warrenties that are recommended. We had one and were very cheated out. A month after we moved in our carbon monoxide detectors went off. So glad I was home because I don't know what would have happened if my furbaby was there all day during that. Turns out we needed a completely new furnance. We called the warrenty company we went with and they said a new furnance wasn't covered because there company never inspected it before hand. We had it inspected before we moved it was fine but it wasn't by their company and we were never told it had to be. In the end we made a settlement and got over 75% after months of complaining and threatening to sue. So whatever you do...read eveything twice!!!!!
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Proud Mommy of Derek Michael
April 8, 2014 9lb 6oz 21 inches
Oh and I wish we would have asked them to take down the wallpaper for us, they might have said no but it wouldn't have hurt to ask!
Finances: We saved up for a sizable down payment (25%). We're glad we could afford that, in large part because we saved up for living in an expensive area, and then moved to an area that cost less than half.
Budget: We went over by $11,000, but were still very much within our means. Glad we did, as we got a house substantially better than the others we saw.
Questions: We're glad we asked about the scorpions in the area (Arizona) and found out there weren't any. Wish we had known about all the hidden cracks behind drapes and in corners. Didn't know this was important to check and were blind sighted when we moved in.
Biggest unexpected expenses have been repairing said cracks. Also, we had to completely redo the sprinkler system, which was pricey, and replace the pool equipment.
We did no initial work, but the first few months, we redid the living room. Wish we would have gotten everything painted professionally before we moved in.
We searched for 2 days before we found our house. We flew out for the house hunting trip and only had a week. We saw about 8 houses before ours, and another 4 after ours. Ours was by far the best, and the best value.
Age: 35 TTC since 2005, MFI & DOR
IVF #1 Sep '11 - canceled poor response
IVF #2 Nov '11 8R/8M/4F 3dt x2 - chemical
IVF #3 April '12 11R/6M/4F 3dt x2 - m/c
FET #1 Aug 2012 3dt x2 - BFN
**new RE**
IVF #4 Jan '13 BFN 11R/6M/6F 5dt x2 - BFN
IVF #5 July '13 16R/10M/10F 5dt x2 + 1 frostie
9dp5dt Beta 1 = 344!! 16dp5dt. Beta 2 = 4822 7wk u/s= 2 heartbeats!
Twin girls! 3/6/14