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Anyone got tips for buying first house?
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Date: November 22nd, 2017 5:30 PM Author: 180 obsidian address (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34751264) |
Date: November 22nd, 2017 5:30 PM Author: judgmental supple market 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: 180 obsidian address 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: razzle charcoal forum volcanic crater 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: angry boltzmann business firm 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: Demanding Weed Whacker 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: Floppy piazza trump supporter 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: Translucent lay factory reset button 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: 180 obsidian address 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: harsh low-t cuckoldry area 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: Cowardly heaven sweet tailpipe 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: harsh low-t cuckoldry area 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: 180 obsidian address 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: harsh low-t cuckoldry area 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: Snowy pocket flask theater stage (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: 180 obsidian address 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: harsh low-t cuckoldry area 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: 180 obsidian address 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: Drab Sex Offender Karate 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: harsh low-t cuckoldry area 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: Cowardly heaven sweet tailpipe 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: harsh low-t cuckoldry area 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: alcoholic tanning salon 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: harsh low-t cuckoldry area 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: Demanding Weed Whacker 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: dashing cobalt patrolman rigpig (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: 180 obsidian address 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: dashing cobalt patrolman rigpig (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: harsh low-t cuckoldry area 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: copper spot 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: Drab Sex Offender Karate 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: bonkers locale feces 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: dashing cobalt patrolman rigpig (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: Cyan principal's office 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: Frisky water buffalo bawdyhouse 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: harsh low-t cuckoldry area 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: multi-colored black temple 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: stirring den 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: copper spot (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: Orange hyperventilating station 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: multi-colored black temple 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: Demanding Weed Whacker 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: Saffron Filthpig Space 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: rambunctious yarmulke trailer park 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: Gold Site Gaping Don’t do it. (http://www.autoadmit.com/thread.php?thread_id=3806171&forum_id=2#34752271) |