The House Searching / Buying/ Building Thread

So I saw something pop up today and it got me thinking. Should I look into buying a 2 bed, 2 bath duplex unit for around 65k? I'm currently renting a shoebox of an apartment from an old lady in a sketch neighborhood for $350/month and it's looking like I'm going to be in this city for awhile now that I have a good job. I could possibly get a roommate if needed. What would a mortgage on that look like and is it a good idea? Completely clueless on these types of things.
You plan on staying in the area? Plan on having a family? If your finances can handle it, I'd go bigger ... into something that would keep your family happy for a while. I bought my house as a bachelor, and while it was 3 bed/2 bath, it was built in the 80's and so lacked things like walk in closets. Those seem to be pretty important for some people (e.g., my wife). If I could do it all over again, I'd have gone the 20-40k more and gotten a more modern house with amenities that would make a families stay in it more tolerable. YMMV.
 
You plan on staying in the area? Plan on having a family? If your finances can handle it, I'd go bigger ... into something that would keep your family happy for a while. I bought my house as a bachelor, and while it was 3 bed/2 bath, it was built in the 80's and so lacked things like walk in closets. Those seem to be pretty important for some people (e.g., my wife). If I could do it all over again, I'd have gone the 20-40k more and gotten a more modern house with amenities that would make a families stay in it more tolerable. YMMV.

Yeah, I currently have a solid job situation with a couple of side opportunities that would give a nice yearly bump to my income, so the plan is to stick around for a few years at least. I plan on having a family one day, but no time soon. I'm in no hurry to leave my current situation, but if I can own something for about the same price I'm renting, I feel like I might as well. Thanks for the advice.
 
Yeah, I currently have a solid job situation with a couple of side opportunities that would give a nice yearly bump to my income, so the plan is to stick around for a few years at least. I plan on having a family one day, but no time soon. I'm in no hurry to leave my current situation, but if I can own something for about the same price I'm renting, I feel like I might as well. Thanks for the advice.

I'm starting to get to this place too...if my company would just give me a solid answer on whether I'm sticking around in WA or moving east haha.
 
When doing new construction... what does everyone recommend as far as upgrades done at the time of build vs. down the road? Is it based on cost that would sway an opinion?

We are leaning new construction and want to do some upgrades (hardwood in additional areas, recessed lighting in additional rooms, upgraded fixtures, etc..), but I am wondering if I would be better off doing the majority of it down the road and not through the actual home builder.

I feel like the easier way is to have the builder do the majority of it so that it is the way you want it when you move in.
 
When doing new construction... what does everyone recommend as far as upgrades done at the time of build vs. down the road? Is it based on cost that would sway an opinion?

We are leaning new construction and want to do some upgrades (hardwood in additional areas, recessed lighting in additional rooms, upgraded fixtures, etc..), but I am wondering if I would be better off doing the majority of it down the road and not through the actual home builder.

I feel like the easier way is to have the builder do the majority of it so that it is the way you want it when you move in.

I agree as well. Definitely look at the costs through the builder vs having a 3rd party or doing it yourself.

When we built our home we upgraded the counter tops and cabinets which increased our selling price down the road. I would have done additional wiring for surround sound in the living room and entire house for music.
 
When doing new construction... what does everyone recommend as far as upgrades done at the time of build vs. down the road? Is it based on cost that would sway an opinion?

We are leaning new construction and want to do some upgrades (hardwood in additional areas, recessed lighting in additional rooms, upgraded fixtures, etc..), but I am wondering if I would be better off doing the majority of it down the road and not through the actual home builder.

I feel like the easier way is to have the builder do the majority of it so that it is the way you want it when you move in.

If you were to hire out the upgrade work at a later date, then it's probably cheaper at the time of construction, with the possible exception of bath/lighting fixtures - that's likely a wash if you can do most of that on your own. However - if you're working with one of the bigger track home builders they might nickel and dime you over things you want to change from their base plan - my In-Laws had to pay $250 per change for stuff they wanted done, just to write the change order up. Also, upgrading at a later time could mean tear-out and disposal of what's there, workers tracking in and out of your living spaces, etc.

How much DIY do you have running through your veins?
 
So much for waiting for 6-8 months before looking again. Wife has been sending me house listings and wants to go see one tomorrow because "it won't stay on the market for long". Well sure, it could go tomorrow for all I know. I also know that we'll more than likely find something we like just as much - if not more - in 6-8 months. *sigh*
 
So much for waiting for 6-8 months before looking again. Wife has been sending me house listings and wants to go see one tomorrow because "it won't stay on the market for long". Well sure, it could go tomorrow for all I know. I also know that we'll more than likely find something we like just as much - if not more - in 6-8 months. *sigh*
Our realtor told us not to pressure ourselves too much, because the right house will present itself when you're ready for it.

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So much for waiting for 6-8 months before looking again. Wife has been sending me house listings and wants to go see one tomorrow because "it won't stay on the market for long". Well sure, it could go tomorrow for all I know. I also know that we'll more than likely find something we like just as much - if not more - in 6-8 months. *sigh*

Happy wife, happy life.
 
Almost pulled the trigger on ground up build...until I remembered we would have to qualify for both our house and the new one.

Don't want to move into temporary residence once ours sells as it will go fast and summer. Plus it would be a pita
 
Quick question...

When does a new construction loan come into play?

Does a new construction loan mean that they are lending you the money to build the house prior to it being completed? We are looking at houses in a neighborhood that we like and looking at one specific house that is to be built by the builder. Technically meaning, we will be purchasing it from the builder which means that we would not need a "new construction" loan, correct?
 
Quick question...

When does a new construction loan come into play?

Does a new construction loan mean that they are lending you the money to build the house prior to it being completed? We are looking at houses in a neighborhood that we like and looking at one specific house that is to be built by the builder. Technically meaning, we will be purchasing it from the builder which means that we would not need a "new construction" loan, correct?

That is correct.

You would get a construction loan if you were to hire a GC to build your home for you. The lender would issue you drafts based on the completion watermark reached by the GC - so your first draft might come when they broke ground, another after the foundation is in, one at framing, etc. In your case the builder likely already has financing and will build it on his dime, you'll just use a standard mortgage to purchase.
 
So I'm calling about taking a look at the unit today. Any tips on things I should look for and questions I should ask while I'm there?
 
So I'm calling about taking a look at the unit today. Any tips on things I should look for and questions I should ask while I'm there?
Condo? Ask about any special assessments they've had or plan on having.
 
Is the roof/HVAC in good shape? How old is the roof and HVAC?

Do appliances stay?

Any HOA fees?

Look at the neighborhood. Is it run down or well taken care of?
 
So I'm calling about taking a look at the unit today. Any tips on things I should look for and questions I should ask while I'm there?

A big one will be if there are any fees (HOA, Condo, Maintenance) and if there are what that covers. If the fees don't cover exterior maintenance how are things like Roof and paint handled. Definitely check age of major items like roof and A/C.
 
Welp... Just signed the contract to sell my house. Been on the market 6 days, had 5 showings and the 2nd showing issued an offer last night. We countered and they accepted.

The wife and I are going to look at a house tomorrow morning that might be our future home. We love the area, we loved the pictures, we love the yard, we love the outside... so we might be full steam ahead. A bit nervous because we will be homeless starting May 19th! Nervous, yet excited at the same time!
 
Welp... Just signed the contract to sell my house. Been on the market 6 days, had 5 showings and the 2nd showing issued an offer last night. We countered and they accepted.

The wife and I are going to look at a house tomorrow morning that might be our future home. We love the area, we loved the pictures, we love the yard, we love the outside... so we might be full steam ahead. A bit nervous because we will be homeless starting May 19th! Nervous, yet excited at the same time!
Congrats!
 
Thanks everyone! We are moving forward


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Welp... Just signed the contract to sell my house. Been on the market 6 days, had 5 showings and the 2nd showing issued an offer last night. We countered and they accepted.

The wife and I are going to look at a house tomorrow morning that might be our future home. We love the area, we loved the pictures, we love the yard, we love the outside... so we might be full steam ahead. A bit nervous because we will be homeless starting May 19th! Nervous, yet excited at the same time!

Great news, bro! Hope you like the house you're seeing tomorrow.
 
Wife and I just submitted an offer for, what we are praying, is our new home!!
 
Wife and I just submitted an offer for, what we are praying, is our new home!!
Good luck!

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Dang you guys are selling houses left and right. Still no offers yet on ours. Looking at the other homes in the area that are listed and have sold and we are in the ball park. Getting frustrated and I know it's been only three weeks, but I've got a timeline here. Need to get an address in Florida to get the kids enrolled in school.
 
Dang you guys are selling houses left and right. Still no offers yet on ours. Looking at the other homes in the area that are listed and have sold and we are in the ball park. Getting frustrated and I know it's been only three weeks, but I've got a timeline here. Need to get an address in Florida to get the kids enrolled in school.


realtor plus price drop =winning
 
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