First time homebuyer

[heitclone]

Lots of good advice already, I'd add that after you buy, don't go nuts furnishing the place. Save a little money, you're going to have something that needs to be replaced in the first year or so, it never fails. I've had 3 homes, first home needed AC replaced the 2nd summer I lived there, 2nd home, washing machine went caput about 6 months in and our current home needed the water softener (in the country with crazy hard water so it was a necessity). In hindsight, that's nothing too major compared to some situations but I swear something is going to go wrong in the first year. Be prepared.

 

[brianhos]

If single, buy a house that you can resell easy. Will probably step up if you get married.

Yeah, don't buy a townhouse.

 

[SpokaneCY]

And buy with an eye towards being able to quickly resell. Location and house styles should appeal to a broad base of buyers.

 

[cyclones500]

Look at the age of the heater, a/c, water heater, etc. Those will need replaced and will cost a ton when the time comes.

Ding-ding! Winner.

 

[Chitowncy]

Have a legit inspector check it out. Don't take previous owner's word for good on anything, get everything in writing. Buy on top of hill, low ground = water problems. Don't buy the most expensive property in the neighborhood.

A lot of good general advice here.

 

[2forISU]

Too many items, but the most important is location, location, location

Buy the cheapest home in the best area.

Single-family residents hold their value vs condos

 

[Walden4Prez]

YouTube is your friend. I have saved thousands upon thousands of dollars with it. Garbage Disposals, Dishwashers, Washers, Dryers, Garage Doors....all will be ****** up and most of the stuff is easy to fix without paying somebody $100 just to show up.

 

[Boxerdaddy]

Ohhh i almost forgot... IF you get a home warranty...don't forget that you have it. I had one included and totally forgot about it. Could have had a few appliances replaced for just a low deductible but I didn't realize i had it til it was nearly expired. Read thru and understand it if you have it and keep that paperwork handy! (Get a safe)

 

[CascadeClone]

People are nailing the basics - location, inspection, don't overbuy. Let me try to get a couple different angles.

1. Garage space. Get 2 spaces more than you think you need. If it doesn't have that, make sure you can build a 2 car garage on the lot.

2. Don't be afraid to buy a smaller house. Smaller means less space to buy and store junk you don't need in the first place. Smaller means forcing you to be smart and intentional about stuff. Easier to move too!

Today me would tell past me to buy LESS house and MORE garage.

 

[enisthemenace]

Lots of good advice already, I'd add that after you buy, don't go nuts furnishing the place. Save a little money, you're going to have something that needs to be replaced in the first year or so, it never fails. I've had 3 homes, first home needed AC replaced the 2nd summer I lived there, 2nd home, washing machine went caput about 6 months in and our current home needed the water softener (in the country with crazy hard water so it was a necessity). In hindsight, that's nothing too major compared to some situations but I swear something is going to go wrong in the first year. Be prepared.

So true. We’ve only lived in two homes. Both times something went to **** almost immediately. Be prepared for an expense you don’t expect.

 

[coolerifyoudid]

If possible, bring a friend that has a house. They will look for things you don't think about. During my first house hunting experience, I was too willing to overlook some things, and my BIL steered me clear of some red flags. I consider myself reasonable, but the excitement of being able to buy a house made me lose sight of a few things. Looking back, I'm not sure what happened to my common sense in the early stages of house hunting.

Otherwise, a lot of people have mentioned good things to look for. I'd make a list and bring it with you so you don't forget something. Like Mtown said, things like age of water heater/furnace/AC/sump pump/dish washer/stove/fridge (if applicable). Those are all sizable costs you will eventually have and you don't want them early without having them factored into the closing costs.

Drive by the house at different hours, especially at night. See if it's a neighborhood you like and feel safe in at night. It's important if kids come into play. Random things: check to see if you are in a flood plain, if you are downwind from the dump or if there are trains that come near the house. A good realtor knows when trains go by and won't bring you there during that time.

Don't be afraid to turn on faucets throughout the house to test water pressure and to make sure the drains drain properly. Plumbing issues suck. Be mindful of cracks in the walls and ask if there have been any issues with the foundation or with mold. Have an inspector go over everything before you sign.

As you walk through the house, imagine doing daily activities like laundry, cooking, etc. Make sure the layout is to your liking. Make sure there are enough closets and cabinets. Not having room for your stuff will bug the hell out of you. Conversely, don't be turned off by wall color or tacky wall paper. Painting is one of the easier fixes you have.

Personally, I will never again own a house without a third car garage. I like everything about my current house, but that garage space is easily my biggest regret.

 

[KnappShack]

Minimum 3000 sq ft and only pay cash.

It's the CF Way

 

[coolerifyoudid]

If your neighbor has a Hawkeye flag flying, keep looking.

 

[Walden4Prez]

If your neighbor has a Hawkeye flag flying, keep looking.

Staying out of the trailer parks should go without saying....

 

[BillBrasky4Cy]

Know what you can afford. Both homes my wife and I purchased we never found out how much we were pre approved for. We ran the numbers ourselves and knew what was feasible. When we sat down with the lender we gave her a ballpark price point we were shooting for and she said that won't be a problem.

Do some research on the price point you are buying and have an understanding on what the growth potential may be. For instance, if you are looking at a home in the "starter home" tier understand that the growth potential is small and that you most likely won't want to sink a bunch of money into home improvement projects.

 

[chadly82]

Get the inspection (also scope the sewer to check for orangberg)
Check out multiple financing options for rates ( I recommend UICCU, Legacy bank and Veridian as well)
Get the home warranty for the first year covered in your concessions.

All this stuff will save you money throughout the first several years and also give you peace of mind.

 

[chadly82]

Ohhh i almost forgot... IF you get a home warranty...don't forget that you have it. I had one included and totally forgot about it. Could have had a few appliances replaced for just a low deductible but I didn't realize i had it til it was nearly expired. Read thru and understand it if you have it and keep that paperwork handy! (Get a safe)

Oh man, home warranty's save you so much if you properly utilize them!

 

[capitalcityguy]

Yeah, don't buy a townhouse.

He said "house" not single family home.

There are plenty of markets where buying a townhome makes sense....especially if you don't want to do yard-work or don't' have time for it. Also means you're not buying lawnmowers, snow blowers, trimmers, landscaping, etc.etc. or burning time on exterior maintenance.

For example, a guy at work and his wife just bought a new house and he stresses about everything. His new lawn died because they went on vacation and didn't water properly. Buying a snow blower last winter. His deck needs to be treated....not sure how to do it or if he know how...etc. etc. He doesn't enjoy anything about outside maintenance. He would be a much happier person with a lot of more free time if he'd bought a townhome.

I've done both (and I enjoy yardward) but am now on my 3rd townhome mainly as a time saver during peak earning years and daughter still at home/in school. Time is most valuable resource for me now.

Point being - don't let anyone tell you what is right for YOU. Only you can determine that.

 

[ArgentCy]

YouTube is your friend. I have saved thousands upon thousands of dollars with it. Garbage Disposals, Dishwashers, Washers, Dryers, Garage Doors....all will be ****** up and most of the stuff is easy to fix without paying somebody $100 just to show up.

You wanna head my way? I've taken apart our POS Samsung dishwasher about three times in the past week. Still no luck. Have one more "simple" fix to try and after that I'm tempted to buy a real appliance.

 

[NickTheGreat]

My advice is a combo of "location" and "resale."

We've had friends that buy some random house, and have to sell in 4 years when they have a kid because they "want better schools." Uh, the school didn't change since you bought the house . . .

Think things through. You don't want to be going through this again in 3 years because you live too far from a grocery store.