First time home buyer looking for advise?

Keep renting and wait for the crash.

First of all...be patient!

I looked for my house for over 2 years. The owner was asking a bit too much (about 4 grand too much) and I was willing to pay it so I got the house.

That was 25 years ago and ya know what? That 4 grand meant NOTHING!

You married?

Don’t buy a house with a lawn that you have to mow.

When to buy in? i was making 65grand a year in 2001 when 2008 hit i am now making 37grand a year the house i am looking at sold for 22 grand in 1999 now there asking 147 grand do you thank interest rates will go up and these insane house prices will bit the buyers in the buttocks

Wait for millions to soon die from jabs and there will be lots of cheap houses available.

not married have a woman f0r 8 years

Learn what water damage looks like...don't buy it if there's water damage!

Beware of thick coats of paint!

I dunno, it would be good to lock in a low interest rate on that mortgage.

Remember, if you buy a house you do the maintenance. I’ve used one philosophy in my life regarding houses. Buy a lower priced fixer-upper, put some money and sweat equity into it and sell it at a profit. Make the kitchen and bathrooms look nice, fix the yard for curb appeal, paint it, put in a deck. It’s really easy if you have the time and energy.

Otherwise rent.

Op as a house flipper, I will tell you to listen to these

people, don't be in any hurry, The shit is about to get really

bad. Wait until the crisis gets bad.

then look for a house.

1. Visit your potential house at all hours of the day and night for at least a week before purchase.
2. If you're looking in a state where it rains quite a bit, make sure your house is on a plateau rather than in a valley.
3. Try and meet your potential neighbors before you buy. Bad neighbors are an absolute nightmare.
4. If there are many trees around your property and you're in a climate where they shed leaves, make sure those leaves have a way of escaping your yard. (I had a down wind, fenced in yard, and ALL of the leaves in the entire community ended up in my yard every year. I had one small tree yet every fall it took an entire weekend to rake up everyone else's leaves that eventually made their way into my yard...)
5. Don't buy a house right next to a bar... Though this seems like an awesome idea (especially if you like the beer like I do) I assure you, it's not. Your liver will also thank you in 20 years...

These are just a few of the mistakes I made with my first home. Hope it helps...

Last Edited by m8n8 on 11/27/2021 09:47 PM

That rent sounds like a sweetheart deal.

Well...my basement had leaks because old basement and nobody redid it like the rest of the house...and well almost $10,000 later...and I'm not done...and that's doing it ourselves. Now, I'm estimating another $10,000 to finish. So $20 grand and it better raise the value even more...I don't know but it needs to be done...so the moral of the story here is find a house with a redone basement :P

this guy is either a lazy fuck, or hes talking about HOAs that force you to mow.

i know about construction need lessons on finance lets say i get a interest at 3.5 but next year the interest rate jumps to 6.7 and property tax is raised should you buy now or rent people are paying 3 to 4 times asking price on homes here?

It is a sellers market right now. Be patient and wait for the crash, then it will become a buyers market.

crash? that sounds nice but please help me understand how its going to happen

as i see it rent has practically doubled. As long as you can get a mortgage on a house for less than a three bedroom apartment when are the prices ever going to come down?

Buying at the top of the market and an impending downslope is always a great idea... Buy 2

I really don't think interest rates are ever going that high again.

The markets would collapse... you need to buy right. and

with all that is happening right now, Housing prices are

at an all time high. There is a housing shortage due to Covid

and people not wanting to show their homes to people.

Its called a sellers market.

thats why i am looking to buy instead of renting taxes are going up you have to raise rent to atleast break even
but is it worth buying if interest rates goes' up

My advice is to learn the difference between advise and advice.

Don't waste future money by living in any area where you have to pay HOA fees.

HOA gives little freedom to do things like a garden or chickens and those homes are usually 8 feet from your neighbor's wall = bad fire spread risk.

Look for something older and not in an HOA area.
You'll be much happier and save loads of cash each month that you can use to fix up an older building that may be on a small bit of land.

up down cracks on a wall or diagonal by say a window, not that bad.
horizontal crack run.

There is a shortage due to Covid and people

not wanting to let people into their homes

Not a little shortage but a huge shortage.

No where in America can you live for 300 something a month. Owning is over rated. That is cheaper than owning. Just put aside some cash every month.

I own a teeny tiny property and it's a pain in the butt. The weeds and shrubs in the South alone require continual cutting back, lawns mowed. I estimate I am paying 800 or more per month to own. The tax alone is 4000 a year. I know of nowhere I could rent a trailer for 300 something a month including perks, except maybe the deepest rural parts of the South, miles from anything. That's insanely cheap.

when does someone buy in the housing market my grandfather paid 2500 for his first home and 500 foe a car?

i see

well covids never going away

inflation will continue to get worse

rents not ever going down once it goes up

i would buy now if possible. i dont see a bunch of houses suddenly coming on the market unless people start dropping dead from the vaxx which seems unlikely despite everything we know

Save your money until the right one touches your heart.

I purposefully bought with only a raised crawl space and no fireplace or chimney. It's so much simpler. Some people like a slab but that's so flood vulnerable. No basement is great. I would have bought smaller if there was such a thing, this is 1350 sq ft.

I would buy now. Be comfortable with payments. If the housing crashes, it crashes. Houses are well above the prices they were pre 2009 crash.

They are not making any more real estate.

Good luck OP

Last Edited by Its Time on 11/27/2021 09:57 PM