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On buying a house email this discussion to a friend?

myLot reputation of 78/100. deathspectacular (848)   ranked 513 out of 7,427 in shopping3 months ago

I'm not looking to buy yet, but my mom always did like me to be prepared. So she gave me these tips when house hunting, and I figured it couldn't hurt to share.

Buy small. Buy the space you need now, not the space you think you might need five-ten years down the line and definitely not the space the agent claims you should have.

Keep an eye out for the little things that increase your bills and maintenance costs. Bad insulation, slow leaks, poorly fitted windows and doors, etc. If you don't know how to spot these things bring along someone who does or hire a professional.

Double check all the available paperwork on the house. Inspection papers, property tax history, boundary surveys, everything you can get your hands on.

 
 
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tags:  real estate, house, advice, first time home buyer
 
1. myLot reputation of 99/100. jesssp (1246)   ranked 1,988 out of 7,427 in shopping   3 months ago

All good advice except buying small. Generally it is best to not go below 1000 square feet and three bedrooms (of course every market is different). If a house is small and only two bedrooms then when you go to sell it the sort of buyers you will attract could be very limited. Couples with children probably wouldn't be suited to a smaller house so by only having a two bedroom the number of potential buyers would be dramatically decreased.


myLot reputation of 78/100. deathspectacular (848)   ranked 513 out of 7,427 in shopping  3 months ago

I'll think about that. Thank you.

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2. myLot reputation of 99/100. dorannmwin (2100)   ranked 1,859 out of 7,427 in shopping   3 months ago

A lot of the advice that you've been given here is good advice, if you are going to be looking for a house that is move in ready.
As far as the buying small, that is the only piece of advice that I'm not sure that I agree with.
When we bought our house about a year and a half ago, we bought a little larger than what we needed and we also bought a house that didn't fulfill a lot of the criteria that you've listed.
Our house needed new windows and insulation. A new bathroom and a new kitchen. We purposely bought a house like this for the simple fact that it would be an investment that would rapidly pay off for us.


myLot reputation of 78/100. deathspectacular (848)   ranked 513 out of 7,427 in shopping  3 months ago

I can see how that's work. It really depends on what your price range is, what repairs/modifications you're willing to do, and how skilled you are at negotiating.

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3. myLot reputation of 93/100. arun2009 (2868)   ranked 434 out of 7,427 in shopping   3 months ago

LOL your mom is right, good advice my friend. I bought my first house about 10 years ago and a plot of land three years ago. I wanted to build my dream house there, my architec friend gave three drawings, we selected one, it is a double storey building with a roof top garden, now all my family live there, we have guests room also. All legal fomalities I completed lol. I call it my DREAM HOUSE.
Thank you so much for this nice discussion. happy keep sharing, happy posting, have a great day, cheersrasp
ARUN

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