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Anyone got tips for buying first house?
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Date: November 22nd, 2017 5:30 PM Author: Brilliant hairraiser half-breed (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751264) |
Date: November 22nd, 2017 5:30 PM Author: opaque church building redfin (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751266) |
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Date: November 22nd, 2017 5:32 PM Author: Brilliant hairraiser half-breed Ty (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751292) |
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Date: November 22nd, 2017 5:36 PM Author: 180 shitlib pervert get an inspection (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751319) |
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Date: November 22nd, 2017 5:54 PM Author: boyish shivering institution With a contractor, not some shithead friend of the realtor who charges $350 to make sure that there are batteries in the smoke detectors that he can easily reach. (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751426) |
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Date: November 22nd, 2017 6:56 PM Author: Greedy exhilarant spot And do not rely on the inspection to the exclusion of your own personal detailed inspection. (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751962) |
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Date: November 22nd, 2017 5:36 PM Author: Bull headed center laser beams https://www.nytimes.com/guides/realestate/how-to-buy-a-house (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751320) |
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Date: November 22nd, 2017 5:50 PM Author: light school cafeteria philosopher-king have rich parents (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751409) |
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Date: November 22nd, 2017 5:51 PM Author: Brilliant hairraiser half-breed 30k from daddy (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751415) |
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Date: November 22nd, 2017 5:55 PM Author: Poppy bateful incel 20 percent down payment is flame if you have good credit. I did 5 and they offered a 1.35 percent lump sum to waive PMI, freeing up a bunch of cash for updates.
Home inspectors are absolutely vital but most of them are rancid TTTs. Spend extra time to find the good ones.
I bought a 101 year old colonial style house and have been chipping away at renovations for the last year and a half, just finished a two month complete gutjob and rebuild on a kitchen, so I’ll answer Qs if you want |
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Date: November 22nd, 2017 5:58 PM Author: Stubborn emerald casino Can you explain how you waived PMI?
We’re trying to save ~200k for a down payment and it’s taking a minute. |
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Date: November 22nd, 2017 6:01 PM Author: Poppy bateful incel If you have good enough credit (750 plus, 800 preferred) and a solid mortgage broker, the lender will sometimes offer a lump sum payment to waive the PMI. Mine was 1.35 percent of the total property value. That meant I only had to put the minimum down (5 percent) plus the lump sum, then got the same benefit as a full 20 down.
It’s discretionary by the lender and not guaranteed but it frees up a lot of cash. I didn’t even get a higher interest rate, so there was literally 0 benefit to saving up 20 percent. |
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Date: November 22nd, 2017 6:02 PM Author: Brilliant hairraiser half-breed How'd you find the broker? (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751484) |
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Date: November 22nd, 2017 6:03 PM Author: Poppy bateful incel Recommendations and vetting. Smart home buying is very much a process of “measure many times but cut once.” Take your time. (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751501) |
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Date: November 22nd, 2017 6:03 PM Author: bearded step-uncle's house hairy legs (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751505) |
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Date: November 22nd, 2017 6:03 PM Author: Brilliant hairraiser half-breed Alright. Lease is up April 1. Do I have time to do this properly or should I wait a year? (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751506) |
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Date: November 22nd, 2017 6:08 PM Author: Poppy bateful incel I started looking for a house January 1 of last year, and closed this house in May. I think you’re fine but do not under any circumstances set a deadline for yourself. If you have to extend the lease because the right deal isn’t in front of you, you should extend.
I’m in a rapidly rising but still very TTT oil flyover market but the competition was still insane for my house because of the location. There were like 30 offers by the weekend after it went on the market on a Wednesday, and I got mine in and accepted first. I toured over 30 homes before I settled on this one.
No deadlines. Be patient. |
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Date: November 22nd, 2017 6:09 PM Author: Brilliant hairraiser half-breed Gotcha cr. Ty (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751550) |
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Date: November 22nd, 2017 6:05 PM Author: Blue menage idea he suggested this isn't true in all markets. in hot markets you gotta be ready to jump in without dithering around too long or good places will already be gone (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751522) |
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Date: November 22nd, 2017 6:10 PM Author: Poppy bateful incel lol wut (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751563) |
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Date: November 22nd, 2017 6:06 PM Author: Stubborn emerald casino Interesting ty. We will consider doing this once we’ve saved the full 20 instead of running out and buying a house today (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751529) |
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Date: November 22nd, 2017 6:09 PM Author: Poppy bateful incel I had like 15 saved so the remainder went to updates which was 180 as fuck (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751556) |
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Date: November 22nd, 2017 6:12 PM Author: Umber awkward orchestra pit party of the first part I'm not so sure 1.35% is a good deal.
You can make a lot of PMI payments for several thousand dollars. |
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Date: November 22nd, 2017 6:13 PM Author: Poppy bateful incel That’s true, but I’m not moving for enough years to make it worth it, and I earn my money very unevenly so lower monthly payments help my budgeting (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751598) |
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Date: November 22nd, 2017 6:59 PM Author: Greedy exhilarant spot Yeah, the ROI isn't necessarily hot. You spend 1.35% to reduce your down payment by 15% at most. (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751990) |
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Date: November 22nd, 2017 5:58 PM Author: adventurous roommate (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751459) |
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Date: November 22nd, 2017 5:59 PM Author: Brilliant hairraiser half-breed I'm listening brother (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751461) |
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Date: November 22nd, 2017 6:03 PM Author: adventurous roommate (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751500) |
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Date: November 22nd, 2017 6:04 PM Author: Poppy bateful incel I am inclined to agree with this assessment. The juice will run out and it will pay to be patient and have a cash warchest (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751512) |
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Date: November 22nd, 2017 6:27 PM Author: Snowy antidepressant drug roast beef Dear god please (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751728) |
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Date: November 22nd, 2017 6:03 PM Author: Blue menage idea he suggested be honest with urself about ur ability and willingness to do updates.
are you in an area where certain natural disasters might occur? GIS mapping can show you if you're in a floodplain (100 year flood, 500 year flood).
look around for protips on all the shit that is NOT covered by normal homeowners insurance (i.e., basement flooding) |
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Date: November 22nd, 2017 6:04 PM Author: Cerise nursing home quadroon ensure mortgage payment well within your means (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751508) |
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Date: November 22nd, 2017 6:07 PM Author: adventurous roommate (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751532) |
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Date: November 22nd, 2017 6:08 PM Author: Bossy Stead Stock Car this (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751538) |
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Date: November 22nd, 2017 6:19 PM Author: Supple Maroon Knife This x 1000
Our mortgage payment is about 15% of our monthly after tax income which feels about right |
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Date: November 22nd, 2017 6:54 PM Author: Poppy bateful incel Mine is 2.5 percent. Even better (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751948) |
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Date: November 22nd, 2017 7:01 PM Author: violent hominid cuckoldry Mine is 33% (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34752008) |
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Date: November 22nd, 2017 6:25 PM Author: Trip Point Blood Rage Wait till the absolute peak of the market so you enrich your boomer overlords. Plus you’ll get the added benefit of being upside down in a couple years. (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751714) |
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Date: November 22nd, 2017 6:27 PM Author: Snowy antidepressant drug roast beef (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751734) |
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Date: November 22nd, 2017 6:28 PM Author: Hideous nofapping travel guidebook stage buy during the winter (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751739) |
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Date: November 22nd, 2017 7:01 PM Author: violent hominid cuckoldry Because of less competition? (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34752016) |
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Date: November 22nd, 2017 7:10 PM Author: Greedy exhilarant spot The most important things are foundation, roof, and air conditioner units as they are the most expensive to fix if something goes wrong (and can't be ignored). Look for value on a structurally sound house with a dated interior (and remember if you're going to remodel anyway, it doesn't matter if a room started out as a 2/10 or a 6/10). I bought a house that had been languishing because it had poor landscaping/curb appeal for how expensive it was . . . fixing that is pretty easy and can have a good return.
Also, don't have a buyer agent, and be insistent that buyers agent commission is contributed to your closing costs. The sellers agent will fume about this but you have the power. |
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Date: November 22nd, 2017 7:10 PM Author: misunderstood puppy community account negotiate your mortgage rate with more than one bank at a time. it's a huge hassle, because they make you send a fuckton of paperwork, but i got around 50bps knocked off my mortgage by continually asking one to beat the other to earn my business.
mortgage brokers are for people with shitty credit, best rates for someone with good credit will almost always come directly from the lender.
depending on the size of your mortgage, a 1/8% difference could be tens of thousands of dollars over the life of your mortgage. |
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Date: November 22nd, 2017 7:15 PM Author: Sooty temple if buying new build find out exactly what is included in quoted purchase price. (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34752133) |
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Date: November 22nd, 2017 7:31 PM Author: impertinent rambunctious site sneaky criminal Don’t do it. (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34752271) |