I have been renting apartments/houses since I was 17 years old! I have had nice ones, really nice ones, scary ones (saw a guy fire a gun at someone in the parking of one of my USC apartments) to disgusting ones (a mushroom was growing out of the bathroom cabinet....seriously). Now, finally, after 13 years of Uhauls, my husband and I are going to buy our first house in just a few short months!!! We are beyond excited...also beyond terrified....but overall just ready to have something to call our own that doesn't require a pet deposit or a gas mask (I'm serious about that mushroom, there are pictures)!
We are officially approved for our loan so now we know what we can afford. We know we want to buy in South Carolina since the property taxes and insurance are so much lower, and so are the home prices! We have some things that are must haves (fireplace, deck, fenced yard) and some really, really wants (garden tub, hardwoods). The next decisions are the tricky ones...do we want an established subdivision? An older home with charm and character that can be fixed up? A newer home that just needs some paint on the walls? With the older home comes possible repairs...the water heater goes out, the ac goes out, the floor goes out. The newer home, while more reliable for repairs and probably a warranty to back them up, may lack the character. My parents are divorced and the reasons why are becoming completely apparent as they have completely different opinions on this process. Mom says go for the older, fixer-upper that way we can customize it. She forgets that we are basically dropping every dime (and some nickels) we have on the down payment so we will be cash poor! Dad votes for the more reliable, newer home that comes with a warranty. While this is practical advice, he also does not see our side of wanting charm and not cookie cutter!
The whole process is confusing as $%*# to us! We don't know an FHA from an FDA! We know enough to not get swindled and to know what we can afford, we know what we want and what we don't want...that's about it.
So feel free to share your advice. Don't do this....do that....watch for this....or even if you know of a neighborhood we would like in the Rock Hill/Fort Mill/Lake Wylie areas. Watch for the fall blog post with the invite to the housewarming party! (fingers crossed!!!) :-)
Subscribe to:
Post Comments (Atom)
Something my realtor warned me about of new subdivisions, was make sure they are done buidling. Usually there are great deals to be had with a brand new built home (customize for free, etc...) however resell is very hard in an unfinished neighborhood, as somone is going to go for the brand new home with the great incentives rather than the home already lived in and more expensive.
ReplyDeleteBe picky, take your time, it's your house for a while, and don't let anyone push you into anything.
My advice would be to not use a realtor at all. Use the internet to find the house you want. I have been lied to by more than one realtor and beyond that they are often incompetent.
ReplyDeleteThe way a realtor commission works is that the buying agent and selling agent split 6% of the purchase price. Suppose you find a listed home that you are interested in. To proceed without an agent call the listing agent and ask to be shown the house. When you find one you like, inform the agent that since you found the house yourselves, you want to be rebated the 3% buyer's agent commission. If the listing agent refuses, just walk. Agents should be desperate for commissions in this economy, so don't waste your time with anyone who is uncooperative.
I would recommend a newer house because then, well, everything is newer. You don't have to worry about the A/C going out (which is what ours did less than a year after we bought our house--$3000). You don't have to worry about replacing ugly/dirty/nasty linoleum (which is what we had to do--$7000). You don't have to buy a brand new house in a brand new subdivision where everything is cookie cutterish. I also did NOT want that. But I would still look at nicer homes that are only a few years old. Our house was 17 years old when we bought it. That's not really old or anything but you can imagine what things like light fixtures and bathroom fixtures looked like. Yes, we had to replace all these--who knows how much all that cost. And apparently the people who lived here before didn't believe in bringing the color scheme out of 1987 because the ENTIRE inside of the house had to be stripped of wallpaper and painted. Ask Andrew--he saw it! haha! Definitely take your time and make sure you get what you want. Don't get me wrong, I love our house. But I think you'll also find that you will have to compromise on what you want. You'll know when you see the one you want--it's kinda like when you're trying on wedding dresses and you get to that one and you just "know." That's how it was with our house. I'm SO excited for you guys! You'll have a ball looking at all the houses and finding the perfect one that will fit the two of you!! *Dana*
ReplyDeleteLocation, location location. Make sure your house is in the perfect location for you. You can fix a fixer-upper, you can expand on a too-small house, you can renovate. Hell, you can rip it down and start over. But you can't change the location. I have learned that the hard way.
ReplyDeleteWhile I don't know you from Eve (other than you have incredible reasoning skills as evidenced on Melissa's blog), I would offer my advice.
ReplyDeleteGo with what feels like "home" and don't settle for anything less.
Also, from having lived in homes in both "established communities" and "the country" I have to admit it's easier living in the country. Yes, established communities have well manicured lawns and rarely do you have an eye-sore neighbor that decides to put their old Chrysler on blocks in their front yard and turn it into a flower bed that is torn up regularly by their mangy dog named Redneck (no, I'm not speaking from personal experience, *cough* *cough*). But HOAs can be kind of like a dictatorship. They make it pretty, but they also make it near to impossible to get that beautiful patio you've been designing for the past year when you finally have recovered from the initial shock of buying your home. Not to mention if you decide to change the color of your shutters! *gasp*
Living outside the bounds of the HOA's control does have it's downside (never know if you neighbor is going to hate you enough to lower your property value by using his Oak tree as a toilet every morning), but it also affords you the freedom to make your home exactly the way you want it.
1. Don't settle. I know it's exciting but keep your head. I had issues with that. LOL
ReplyDelete2. If you do a realtor, which we did and ours was wonderful. Do NOT be afraid to tell them no. Tell them what you want and what you don't want. Ours showed us a house in a not so nice neighborhood and I told her I didn;t think that was where we wanted to be and she never showed me another one like it.
3. Take a friend with you for a third party opinion. They might see something you haven't.
4. Ask for copies of the utility bills so you know how well it stays cool or warm. We did that and one house didn't hold the cool air at all! Their electric bill in june was 400 dollars. We sooo said no to that.
5. The reason I loved my house when I found it was because of the location, but when I walked in, I felt at home already and it wasn't mine yet.
6. Realtors get the listings quicker then the internet. She found our house the day it was put on the market. It didn't even have a for sale sign yet. I can find her name if you want. She was amazing. And brutally honest. There were houses she showed us and told us that it was not a good house. That she didnt think we should buy it.
7. Do not buy a house in a neighborhood that has a HOA. They can change it whenever they want. And its not something you need.
Our house is an older home. It is about 13 years old but it was well taken care off. And since we live in an nieghborhood without and HOA we can do whatever we want with the yard and all that.
Sorry this was so long.
@the beasleys
ReplyDeletetotally agree with #7. I hate our HOA. Yes, the yards look pretty. But if I have to get one more email from them about what time the social committee meets or how I have to be at a certain place within a 12.5 minute window or else I can't get a pool pass for the entire summer ... I think I might go crazy and spray paint a stop sign or something.