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What would you do differently, or wish you had known...

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MC09
arrrghhh!!!!

Member since 2/09

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Me speaks pirate!

What would you do differently, or wish you had known...

Anyone have advice for a first time home buyer? Is there anything you wish someone had told you before you first bought a home, or something you would do differently now if you could do it all over?


Any advice would be greatly appreciated! Thanks!

Posted 1/17/11 5:53 PM
 
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danielleandscott
My new 71 Super Beetle

Member since 5/05

13476 total posts

Name:
Scott

Re: What would you do differently, or wish you had known...

I would of bought a house with a Basement and we would of bought a house with at least 2 bathrooms

We live in a Levitt cape that originally had 1 bathroom and there is no basement. We have an attic now that we dormer-ed, a garage and a shed in the yard. The basement would of been a good place for storage, and a great place for the kids to go during family gatherings.

Scott

Posted 1/17/11 5:59 PM
 

Charly
LOVE!

Member since 5/05

12578 total posts

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Re: What would you do differently, or wish you had known...

I wish I knew that the house I bought did NOT have all the proper CO's. I had NO idea that we had an illegal finished basement, 1/2 bath and 2 fireplaces until I went to sell my house and couldn't! It's been a nightmare and the expenses trying to fix it all are going to exceed $10k soon!!!Chat Icon

SO the most important thing is go to the town, pull the records before you sign the contracts and make sure your house is 100% legal with all CO's!

As for the other things - I'm going on my 3rd house now. With each house my wishlist growsChat Icon My must haves are 2 baths, finished basement and 2 car garage. I'm also a big fan of central air.

Message edited 1/17/2011 6:11:38 PM.

Posted 1/17/11 6:11 PM
 

Teri
my girls!

Member since 2/06

1491 total posts

Name:
Teri

Re: What would you do differently, or wish you had known...

live in it before you do any renovations, no matter how big or small. It's amazing how things change just after you've lived in the house for a few weeks or months! Take your time with that stuff.

Posted 1/17/11 6:19 PM
 

THUMPER
LIF Adolescent

Member since 5/05

509 total posts

Name:
Laurie

Re: What would you do differently, or wish you had known...

Posted by Charly

I wish I knew that the house I bought did NOT have all the proper CO's. I had NO idea that we had an illegal finished basement, 1/2 bath and 2 fireplaces until I went to sell my house and couldn't! It's been a nightmare and the expenses trying to fix it all are going to exceed $10k soon!!!Chat Icon

SO the most important thing is go to the town, pull the records before you sign the contracts and make sure your house is 100% legal with all CO's!

As for the other things - I'm going on my 3rd house now. With each house my wishlist growsChat Icon My must haves are 2 baths, finished basement and 2 car garage. I'm also a big fan of central air.



Just curious, should this of been pick up ny inspection?

Posted 1/17/11 6:33 PM
 

Charly
LOVE!

Member since 5/05

12578 total posts

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Re: What would you do differently, or wish you had known...

Posted by THUMPER

Just curious, should this of been pick up ny inspection?



no, it is not the inspectors responsibilty at all. Technically the title search should have found it, but since there were no violations it didn't come up. It is my understanding that the broker was at fault here, but there is NO recourse.

When you go to sell it seems that the mortgage companies will inspect now (where they didn't always do that in the past) and compare it to town records. That's what I've seen happening to me and quite a few other people I know.

Message edited 1/17/2011 6:43:19 PM.

Posted 1/17/11 6:42 PM
 

JessInCA
live laugh love

Member since 8/06

5082 total posts

Name:
Jess

Re: What would you do differently, or wish you had known...

I wish I had known how many expenses come up the first month or so after you buy the house - and I'm not talking about major renovations or anything. Our house was technically turn-key... but new locks & toilet seats, cleaning supplies, paint, various new small pieces of furniture or area rugs or curtains, it all adds up.

Posted 1/17/11 8:39 PM
 

LadyBugN2Buggies
<3

Member since 5/10

6691 total posts

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Re: What would you do differently, or wish you had known...

so many things....I must say though, we were pretty prepared for stuff ...we made it so we wouldn't regret anything really major (or, I was at least prepared...not sure about DH...but I handled everything - the entire process - and it went well.)


-be sure to leave the closing table with a safety net. yes, some people have just a few grand left in the bank and roll the dice & all ends up well, but remember: the minute you move in, you never know what you may need to fix ASAP (and things that are essential.. like heat or electric)

-it's good to be on friendly term with the seller, but it's hard to be friends. it's still a big business transaction, and probably one of the biggest in your life. you're both there for a similar reason/goal: to end up not broke or taken advantage of. after you have an inspection done, if anything needs to be fixed soon and is "major," try to negotiate to get the seller to come down the price it would cost to fix it/replace it.

-location, location, location. you can change things in a home, but you can't pick it up and move it. think long-term, even if this is just a starter-home. you never know what may end up happening down the line.

-have the BEST team of professionals leading and guiding you....from your agent, to your broker or bank, to your real estate attorney, to your inspector, etc. these people are so essential and can make your life easy or make it hell.

-don't.settle.ever. even if rates are low, and you can get a great deal, don't settle. this is where you will hang your hat and lay your head. it's important to love where you live. if you always wanted a colonial, don't settle for looking at ranches. go with your gut. you know what you want - it's out there.

-seriously consider taxes to be a big factor. yes, you can find a reasonable priced home, but anticipate that your taxes will go up every single year. yes, there is STAR rebate programs and you can always try to grieve them, but bear in mind that one day, when you pay off your home and it's finally yours, you will still be paying taxes....they never go away!

-live in reality. look, some sellers don't budge. they think their home is worth way more than it really is. they may not listen to their listing agent's advice and won't budge on their price, even if they received a reasonable offer. they can be emotionally invested in their home and it can make things murky. if they don't budge and you know it's overpriced, think long & hard. also, if the house appraises for less & the seller STILL won't come down the appraisal price, seriously consider walking. No one wants to overpay in this economy...but that's not to say you can't or that others don't.

-don't stress too much. it's such a process and it's so easy to shed tears, curse, lose hope, lose sleep, fight with your loved ones, etc. but everyone goes through it and, if you do it right, you don't end up regretting too much.

-and beth. FM her. she is a great resource and agent, as I am sure you will see from her posts on the home board.

Chat Icon Chat Icon Chat Icon Chat Icon Chat Icon Chat Icon

Posted 1/17/11 8:42 PM
 

mommybear
LIF Infant

Member since 1/11

296 total posts

Name:

Re: What would you do differently, or wish you had known...

A basement is a must. Never lived with one before and thought it was OK. It became obvious that we were lacking one after having a kid.

Not done differently but would never buy a house with only 1 bathroom. We have to have 2 full baths or at least 1 per floor.

A minimum of 3 bedrooms is a must.

Do visit your house multiple times, day, evenind and weekends. Do the work route at the time you would travel to really know how it would work for you. Traffic may not appear like much on paper but long traffic lights, turning left on a busy road may add commute time that did not appear at first.

Do not underestimate the neighbors. Curb appeal is very important.

Posted 1/17/11 8:56 PM
 

Goobster
:)

Member since 5/07

27557 total posts

Name:
:)

Re: What would you do differently, or wish you had known...

I made mistakes my first time. Made some great choices too but made a few mistakes I had to learn from when I sold that house to buy my new one.

Biggest mistake was buying in a location I did not want (block and lot). The house was great so we overlooked the fact that the block was busier than we wanted. In the end it drove us insane. I learned to never do that again.

Posted 1/17/11 9:25 PM
 

MissJones
I need a nap!

Member since 5/05

22134 total posts

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Re: What would you do differently, or wish you had known...

I looooove our co-op but in hindsight, we really should have looked into a 2 bedroom to start. It's going to be tight for a few years! Chat Icon

So basically, if you don't have kids and you are planning, look for a place with room for them!

Posted 1/17/11 9:53 PM
 

FirstMate
My lil cowboy

Member since 10/10

7790 total posts

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Re: What would you do differently, or wish you had known...

1. I would have driven by the house at all hours to see what goes on in the neighborhood. I would have made the effort to meet the neighbors ahead of time to see what they are like. I would have taken a much more careful look at the houses on my block to see that they are well kept. You know that whole good fences saying? It is very, very true. And my fence isn't so great either!

2. I would have really analyzed the amount of storage space in the house. There can never be enough!

ETA: 3. Plan for the future. I knew this was our starter home so I didn't really care at the time. Now that baby #1 is on the way, I'm freaking out. Where the heck is all this kid's stuff going to go? In my living room? I don't think so. Now I want to have a house that has room for a play room. Think about what you hope your future will hold and the type of use you plan on having in your home. Do you like to entertain? Maybe you want to ensure there is a dining room. Does your DH like to tinker? If so, make sure there is a garage. Think ahead because tomorrow gets here in a hurry!

Message edited 1/17/2011 10:15:38 PM.

Posted 1/17/11 10:09 PM
 

ChrisDee
My Girls

Member since 11/06

9543 total posts

Name:
Christine

Re: What would you do differently, or wish you had known...

I would have hired a PE(professional engineer) and NOT a home inspector. They are only certified by a class that is a few hours longChat Icon We had $52,000 worth of structural damage that we figured out the week after we moved it. It never should have been missed. A PE is well worth the money!!!!!

In our lawsuit we found out that our inspector was a retired LIRR engineer, with ZERO construction/home repair experience. It is not required by the state of NY. I would never put such a huge investment in the hands of a home inspector again EVER!
http://www.ehow.com/how_5509782_become-inspector-new-york-state.html

Message edited 1/17/2011 10:21:59 PM.

Posted 1/17/11 10:14 PM
 

8ternity
<3

Member since 11/08

10586 total posts

Name:
Formally NYPD-Wife

Re: What would you do differently, or wish you had known...

Great Thread!

Posted 1/17/11 10:58 PM
 

JandJ1224

Member since 6/06

5911 total posts

Name:
Jannette

Re: What would you do differently, or wish you had known...

Really take into consideration what you will need to or want to put into the house. Things really add up! So take the time to figure out an offer that is fair or when you are comparing houses you like.

Posted 1/17/11 11:43 PM
 

Nifheim
allo

Member since 1/09

5476 total posts

Name:
Jennifer

Re: What would you do differently, or wish you had known...

if you buy a older home or a fixer upper try not to get things done right away. live in the house or experiment with mini makeovers but don't go guns blazing and over do everything. we are in debt to our eyeballs for doing too much to soon.

Posted 1/18/11 10:14 AM
 

snowprincess
My happy babies

Member since 3/06

3428 total posts

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Re: What would you do differently, or wish you had known...

Posted by FirstMate

1. I would have driven by the house at all hours to see what goes on in the neighborhood. I would have made the effort to meet the neighbors ahead of time to see what they are like. I would have taken a much more careful look at the houses on my block to see that they are well kept. You know that whole good fences saying? It is very, very true. And my fence isn't so great either!




defiently agree with this - talk to as many neighbors as possible- especially neighbors that seem like busy bodies - our house had mold issues that they covered up prior to selling that did not get cought by the inspecition but neighbor's knew history because the renter's were getting sick

Posted 1/18/11 10:18 AM
 

MarsB
LIF Adult

Member since 11/10

1456 total posts

Name:
Martha

Re: What would you do differently, or wish you had known...

If the house has cesspools, have those checked! The inspection won't cover it. Our first night in the house DH and I both took showers and then noticed a pipe leaking in the basement. We ended up calling Roto Rooter at 10 pm on a Saturday and $400 later we found out our waste pipe was clogged. They also tried to tell us that our cesspool needed to be replaced and that we needed to have an overflow put in. The quote was over $5,000! I was in tears and completely freaking out. Good news is we ended up calling around and got a 2nd and 3rd estimate. We found out that we already had an overflow and that the cesspool was in good condition and didnt need to be replaced. For a full week though I was so stressed out. I wish we had asked the sellers for details on the cesspool system and I wish we had paid for a cesspool inspection prior to closing.

Posted 1/18/11 10:26 AM
 

Mom2010
LIF Toddler

Member since 3/10

384 total posts

Name:
Eclaire Lover

Re: What would you do differently, or wish you had known...

Posted by ChrisDee

I would have hired a PE(professional engineer) and NOT a home inspector. They are only certified by a class that is a few hours longChat Icon We had $52,000 worth of structural damage that we figured out the week after we moved it. It never should have been missed. A PE is well worth the money!!!!!

In our lawsuit we found out that our inspector was a retired LIRR engineer, with ZERO construction/home repair experience. It is not required by the state of NY. I would never put such a huge investment in the hands of a home inspector again EVER!
http://www.ehow.com/how_5509782_become-inspector-new-york-state.html



I had a similiar experience in my 1st home. With as little as the "inspector" uncovered, my six year old could have done a better job!

Posted 1/18/11 10:43 AM
 

ThePinkGoose
In Your Hands

Member since 8/08

4706 total posts

Name:
Nunya

Re: What would you do differently, or wish you had known...

Posted by Goobster

I made mistakes my first time. Made some great choices too but made a few mistakes I had to learn from when I sold that house to buy my new one.

Biggest mistake was buying in a location I did not want (block and lot). The house was great so we overlooked the fact that the block was busier than we wanted. In the end it drove us insane. I learned to never do that again.



THIS!

Posted 1/18/11 10:58 AM
 

charon54
My two boys!

Member since 5/05

7279 total posts

Name:
Rebecca

Re: What would you do differently, or wish you had known...

I wish I had known that the housing market was going to crash.

Seriously though, never buy a starter home that you can't make into a forever home. We thought this would be our starter home. After trying to sell last year, we are going to be doing an addition on the house now. This can become our permanent home. You just never know what life will throw your way. For us, it was a hard time selling and messed up contracts coupled with DC #2 on the way surprising us that will now force us to stay here and make this house what we need it to be.

Posted 1/18/11 11:08 AM
 

maymama
my little loves

Member since 8/08

18453 total posts

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Re: What would you do differently, or wish you had known...

storage storage storage!

we bought a brand new condo. it is gorgeous but there is NO space.

we are now looking to sell and i will NOT buy a house that doesnt have a basement/garage Chat Icon

Posted 1/18/11 1:39 PM
 

babyonboard11
In love with my little man!!

Member since 8/10

1841 total posts

Name:

Re: What would you do differently, or wish you had known...

Picture yourself in it in the future - when I bought I was not thinking about kids - now with a LO on the way - I regret my bedroom being on a sep floor as well as not having a bathroom on the top floor
Also - sit and stalk out the block - I have the most ANNOYING dogs next to me - I am a huge animal lover but not at 5 am when you leave them out there for 45 min barking non-stop

Posted 1/18/11 1:43 PM
 

shoegal68
LIF Toddler

Member since 6/08

422 total posts

Name:
Sandy

Re: What would you do differently, or wish you had known...

actually my DH was soooo picky when we looked for house. i'm actually glad he was. the key things to look for is location: how long of commute to work. is it conveniently located to highways & LIRR?
School District - even if you have no kids or don't plan on having any. think re-sale.
Storage: seems like the more room you have the more you accumlate AND i get alot of requests from family "do you have some room to store.... ". a basement was a must.
bathroom: think long tern. for example, DH insisted on having a bathroom on the first floor so when we get old we aren't doing stairs.
some people may disagree with this one, and so did i at first but my DH wanted to buy in the incorporated village. we can't park in the street between 2:00 AM - 6:30 AM. so now, when i wake up in the moringi if i see an unfamiliar car parked on the street, something maybe up. also, when it snows, plows are come up and down our block all day. also, our car & home owners insurance is cheapper since we live in the incorporated village.

that all i can think of now

good luck!!!!

Posted 1/18/11 6:02 PM
 

bikramaddict
mommy-to-be

Member since 8/06

4376 total posts

Name:

Re: What would you do differently, or wish you had known...

- Take into account that what your payments will be when you buy your house won't stay the same. Tax increases, escrow shortages... they change things. My fixed rate mortgage changed 4 times in 4 years...down...up...up again A LOT...down.

- Trust your intuition. My mortgage broker came highly recommended by a colleague of DH's but he just didn't sit well with me. It was problem after problem.

- Driveway. We bought a house without one. We live on a quiet street and can always park right in front of our house so it isn't a problem per say, but on days when the street plows push snow into the side of my car I think about how nice it would be to have a driveway

- In addition to all of the things you like about the house, give some thought as to what you think other prospective buyers WON'T like about it. Unless it is your forever house, I would try to imagine what reaction you'd get when it comes time for you to be the seller. Our house for example, is a loft style contemporary. You go upstairs and it opens right into the bedroom, then there is a bathroom and another small bedroom off of it. It's structured in such a way that it is easy to put a wall up to eliminate the loft feel, but for some buyers it is hard to see past that. We always liked how unique it was but a loft style is certainly not for everyone. We lost prospective buyers because of it.

Posted 1/18/11 11:27 PM
 
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