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Archive through November 24, 2005

The TVClubHouse: General Discussions ARCHIVES: 2005 Dec. ~ 2006 Feb.: Buyers Banter: House Shopping.... : Archive through November 24, 2005 users admin

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Saxywildcat
Member

05-30-2005

Sunday, November 13, 2005 - 9:34 pm   Edit Post Move Post Delete Post View Post Send Saxywildcat a private message Print Post    
Okay.. So.. Things have slightly changed and DH and are planning to stick around Kansas. We started house hunting this past Friday.

For those of you veteran house hunters out there... Any advice?

Has anyone ever used a VA loan?

Any suggestions are most welcome!

Thank you all!

Max
Moderator

08-12-2000

Sunday, November 13, 2005 - 10:39 pm   Edit Post Move Post Delete Post View Post Send Max a private message Print Post    
1. Get a good Realtor. I mean a REALLY good one, if you can. Ask friends who have bought homes in the area where you're looking for referrals, then check them out for yourself. Ask questions that gauge how well they know the neighborhoods and see if you "click" with them. You need an agent who will pay a lot of attention to what you are looking for and stay on top of new listings that come on the market so that you can get first crack at the right house for you. (Don't know how hot the market is in Kansas right now, but here in Oregon, speed is key if you want the best places 'cause good ones go fast.)

2. Once you find a good Realtor, ask about mortage brokers that s/he work with. This is also a key part of determining if you've got a good Realtor or not. Good ones have relationships with folks in the mortgage and title side of the business so that they can help you through every step of the process. Go to the mortgage person and get pre-qualified. Find out all you ever wanted to know about VA loans versus standard mortgages, fixed versus adjustable, 80/10/10 configurations, and so on. There are so many different lending programs available today that just about anyone with a steady income can get qualified for something -- heck even if you don't have a steady income, if you've got a good credit score and a decent down payment, you can do a no-doc loan these days.

3. Once you're pre-qualified, you'll know just how much house you can afford. Be careful not to get sucked into an adjustable loan if you can help it because who knows what interest rates are going to do next. Watch out for pre-payment penalties (usually on adjustable loans) 'cause that can really bite you if you want to sell a few years down the line. Then start working with your Realtor and look at whatever comes up. When you're looking, be sure to visit the neighborhood at various times of the day if you can so that you get a true idea of traffic and other goings on in the area. Nothing worse than seeing a house that seems to be in a calm, pleasant neighborhood by day only to move in and find out that there's a frat party every night just behind your back fence. :-)

Good luck! Buying a house can be very stressful, but it can also be very exciting and rewarding. :-)

Wargod
Moderator

07-16-2001

Sunday, November 13, 2005 - 11:18 pm   Edit Post Move Post Delete Post View Post Send Wargod a private message Print Post    
Take a deep deep breath and go into it remembering that you probably won't find your dream house the first time out. It's fun to go looking, but after awhile of seeing nice houses that almost fit what you want but not quite, it gets a little frustrating.

Have an idea of what you want. How many bedrooms and bathrooms? Do you want a big kitchen? Is yard size important for you? Do you want a brand new house in a new neighborhood or an older fixer upper?

I know being newly married you're probably already hearing the "when are you going to have kids" questions, but its something to consider when buying a house. Especially if ya'll are like us where you plan to stay in the house for many years. Caleb was 18 months when we bought ours and we knew we wanted at least one more so the number of rooms, the yard size, and the type of neighborhood we bought in were the biggies for us. A brand new house may have been nice, but the ones we looked at the yards were small and there weren't many kids around.

I read awhile back that when you're shopping for a house something you should do is check out any neighborhood you're considering buying a house in not only during the day but also at night, and more than once. Drive through, park, talk to some of the people who live there.

Not sure this is the type of stuff you're looking for, but I know for us having a very clear idea of the type of house and the area before we went looking made it much easier. We walked in and told the real estate agent we wanted 3 bedrooms and a den, or 4 bedrooms, large front and back yards with at least the backyard fenced, and a neighborhood that was more established and had families with younger kids. It cut out a lot of looking at houses we weren't interested in.

We did use a VA loan, but it was 8 years ago so I'm not sure what's changed since then. At the time it was pretty easy. Darren had to have some papers (I don't remember the form numbers,) and that was about it. Real estate agent took care of the rest. We didn't pay any closing costs and ended up with a very low fixed interest rate. Like I said though, that was awhile back and things may have changed since then.

Good luck!

Max
Moderator

08-12-2000

Sunday, November 13, 2005 - 11:28 pm   Edit Post Move Post Delete Post View Post Send Max a private message Print Post    
Excellent ideas, Wargod.

Here's another I left off my list. Make a list of things you would love to have in a house. When your list is complete, go through it again and highlight the things that are "must have" items versus those that are "like to have".

The thing is, you'll probably not find a perfect match for everything on your list -- especially in your first house -- but you stand a good chance of finding around 80% of it. So it's important to know what your "must haves" are before you start looking. Otherwise, emotions can take over and you could end up with something that has some highly emotional "like to have" items but missed on some very important "must have" ones. Does that make sense? :-)

Full disclosure: When I was married (which seems like eons ago), my SO was a Realtor and I got my license, too, because I helped him hold open houses and didn't want to break any legal rules. Together, we bought/sold three houses of our own and since the divorce, I've bought/sold one house and am now living in my second one. I don't have a Realtor license anymore though. It's a tough business to be in, albeit a rewarding one at times. :-)

Lumbele
Member

07-12-2002

Monday, November 14, 2005 - 7:52 am   Edit Post Move Post Delete Post View Post Send Lumbele a private message Print Post    
Saxy, I don't know how mortgages and the realty biz work in the States, but be sure to have a pro inspect your new house so you don't end up with structural problems that a lay person would miss. Make it conditional on the sale.
In our mortgage we found it very useful to be able to pay down a certain amount on the principle each year, in addition to the regular payments. If you can, make weekly or 2 payments a month. It will pay your mortgage off faster.

The list of the "must haves" and "would likes" is very important. We had one week to fly half way across the country and buy a house. We had told the realtor well in advance what was non-negotiable and what would be gravy. It also helped to have that pre-approved mortgage lined-up.
There is no such thing as the ideal house, unless you build it yourself. Don't set your heart on something outside the "must haves", be flexible and ready to compromise.
Buying your first home will be very exciting. Good luck!

Finqwik
Member

09-23-2000

Monday, November 14, 2005 - 11:23 am   Edit Post Move Post Delete Post View Post Send Finqwik a private message Print Post    
Lumbele ITA weekly payments are much better than monthly, aim to have as short an amortisation period as you can. Shop around for a mortgage and don't be afraid to keep pestering them to lower the rate right up until closing. I managed to get my rate from 5.2% to 4.64 % by just pestering the bank by email. Two years into my mortgage I asked them to lower it again and they went from 4.64% to 4.45%. I decided on a 5 year fixed rate rather than a variable don't forget interest rates keep going up in the States right now. Oh when I reduced my interest rate to 4.45% I renewed for another 5 years. A house inspection is an absolute don't forget to ask for fixtures and fittings like drapes and light fixtures. Good luck ! Owning my own home is the best housing choice I ever made Also as this was my first house purchase I was able to take advantage of some tax savings here in Canada by cashing in some RRSPs to help with the Purchase.

Seamonkey
Moderator

09-07-2000

Monday, November 14, 2005 - 12:28 pm   Edit Post Move Post Delete Post View Post Send Seamonkey a private message Print Post    
And make sure there is no pre-payment penalty.. that used to be a common trap in mortgages because of course they want you to pay as much interest as possible for as long a time as possible at the highest rate possible..

Jagger
Member

08-07-2002

Monday, November 14, 2005 - 1:19 pm   Edit Post Move Post Delete Post View Post Send Jagger a private message Print Post    
Just one little word of advise when buying a home. Go out and hire yourself an inspector to look the place over. It is fine to use the one your realitor recommended, but remember this really isn't a person you hired, it is someone the realitor hired. I would go out and get an independant inspecter. It'll cost a few more dollors but it may be worth it in the long run.

Also check with the local police department for any neighborhood you think is suitable for you, they should be able to give you a list of all crimes reported in the area.

Saxywildcat
Member

05-30-2005

Monday, November 14, 2005 - 2:23 pm   Edit Post Move Post Delete Post View Post Send Saxywildcat a private message Print Post    
You all have given WONDERFUL advice!

Luckily, I know the neighborhoods here in Winfield. I grew up here. I also know the rep of most of the realtors, so finding a good one isn't tough either.

The list is a good idea. Maybe we should actually write it down. We've talked about what we want. And in our start at house hunting, we found some we like. We know it won't be our dream home yet, but we know we can find something that really pleases us. :-)

Thank you all, you rock!!

Schoolmarm
Member

02-18-2001

Monday, November 14, 2005 - 3:49 pm   Edit Post Move Post Delete Post View Post Send Schoolmarm a private message Print Post    
Location, location, location!

It is better to buy the "worst" house in the best neighborhood than the "best" house in a bad neighborhood. You can always fix the house up, but you can't change the neighborhood.

GO there at night, and since you are in WInfield (just out side of where I puked in the cotton coming home from Spy's birthday last year!) you need to know if this is a college hangout or has one nearby.

You MUST be in a great school district whether you have kids or not. I don't have kids and I do this because if the schools are good, the neighborhood will be good for me and good for resale.

Get a good inspector! A well built home is a must. Look at the archetecture, not the decorating. You can save a bunch on a house that needs updating, and it is fun to do. And then it will feel like it is yours.

They will push you to buy at the top of your price range. Don't do it, you might want to buy furniture for the house or groceries or some silly things like that!

I second the advice about the police report. My beautiful house in Pennsylvania was in the one-block crime district as it was on the path from THE bar to the frats. Coulnd't tell this, as I had bought the week after graduation. Knew a bunch of faculty lived in the area, but not that I was surrounded by five student rentals and that Thursday was party night. That is why I don't actually live in my new university town, but in a great neighborhood across the lake. Ah, peace and quiet!

Seamonkey
Moderator

09-07-2000

Monday, November 14, 2005 - 4:45 pm   Edit Post Move Post Delete Post View Post Send Seamonkey a private message Print Post    
Marm is so right about going at night, and I'd also go on a weekend, just to see what is going on.

This may sound silly, and I didn't get it in this place, but if you have two or more that are sort of equal, if you can get one where you have a door that leads into/near the kitchen or pantry or where you will store most of the food and supplies that you will be schlepping in from your car, that's a plus, IMO.

Another factor that was important to me was privacy.. in our complex many of the plans have the livig room up front with windows that can be looked into from the front or common areas (with a house it could be windows that are sort of wide open to a close street). My living room is in the back, looks onto my patio and gives me tons more privacy.

Look at where the laundry area is in relation to the laundry.

I hope this will be a really fun project, despite all that you must consider, and I hope you'll stop in here and share what you are finding and deciding. TVCHers make great cheerleaders and resources, too.

Saxywildcat
Member

05-30-2005

Tuesday, November 15, 2005 - 6:58 am   Edit Post Move Post Delete Post View Post Send Saxywildcat a private message Print Post    
well... We only have ONE school district in Winfield. We're a town of only about 12,000. So the biggest deal is what Elementary school will kids go to. And guess what, I actually have been checking that out! Luckily though, we've only see houses so far that are near great elementary schools.

I also think we're looking far away from the college district. Southwestern, here in town, is a VERY small college. A lot of kids live in the dorms or in college apartments, which are all close to the college.. And I understand, Marm, why you live away from the college life.. *I* got sick of kids peeing and puking outside my open window in the last apt I lived in in college.. It's really some interesting stories.. LOL

We are looking at four more houses today. We are going to try to find a lender today as well (Yeah, we should have found the lender first, but we wanted to see what was out there).

I'll let ya'll know how it went. And thanks again to everyone's input!

Prisonerno6
Member

08-31-2002

Thursday, November 17, 2005 - 2:18 am   Edit Post Move Post Delete Post View Post Send Prisonerno6 a private message Print Post    
I started looking by going to www.realtor.com. with a lot of pre-screening through there, I found my house in a week.

Saxywildcat
Member

05-30-2005

Thursday, November 17, 2005 - 5:39 am   Edit Post Move Post Delete Post View Post Send Saxywildcat a private message Print Post    
Prisoner: That is where hubby started looking. And then we branched off to separate realtor sites and then when we had a realtor, we told them what we liked, narrowed it down and we've been looking. There's a couple we like. We're waiting for loan info right now.

Costacat
Member

07-15-2000

Thursday, November 17, 2005 - 6:59 am   Edit Post Move Post Delete Post View Post Send Costacat a private message Print Post    
A couple of other things you may wanna consider... And bear in mind that I have no idea what Winfield is like:

What type of neighborhood do you want to live in? Do you want stores that are walking distance? Is it important to be near shopping at all? How close is the grocery store? Is it one you like to shop at? What about other services (beauty shop, mechanics, dry cleaners, hardware stores)?

What type of people do you want to live near? Do you want a neighborhood with lots of kids? Or no kids? What about lots of elderly folks?

Think of traffic in the neighborhood. Will you hear a lot of traffic at night, when you are trying to sleep? How near is the freeway, and will you hear traffic there?

Which brings me to other noise in the 'hood. How near are the neighborhood bars? Will latenight revelers bother you? What about dance clubs? Will throngs of folks leaving a bar at 2am bother you?

Talk to the local police department to identify areas that are safer in which to live. They should have stats on various different types of crimes (crimes against persons, burglaries, auto theft, and so on).

How near are services such as police, fire, and hospitals?

And, cause you are in Kansas, are you picking a neighborhood that's in tornado alley? <BIG grin> (And LOL... gimme an earthquake any day!)

When I bought my condo, I had a real estate agent helping me look at places within the range of where I wanted to live. (I had a very defined area to the north, south, east, and west.) But I also took the time to look myself. I drove around the area looking for sale signs, I checked the paper for places sold by owner (which the RE agent might not have known about), and so on. Meaning, I took partial responsibility for the search, too.

Finally, if appliances are included, check the age of them. Also check the age of the paint job, carpeting, termite treatments, anything else like that. You may buy a home that was recently painted, but may find out that in a year every appliance needs to be replaced. (Which can get expensive!)

Saxywildcat
Member

05-30-2005

Thursday, November 17, 2005 - 8:02 am   Edit Post Move Post Delete Post View Post Send Saxywildcat a private message Print Post    
Well.. Winfield being the size it is. It only takes 5 minutes to get anywhere. There is no "freeway" near this town. We have a bypass though.. Nowhere near any houses we are considering.

Also.. Won't find too many neighborhood bars. All the bars are down town.

Some things I wouldn't have thought about if ya'll hadn't mentioned them, but luckily, they are things I wouldn't have to worry about much in this town either. Everyone has been so helpful! Thanks for it all!

Froggiegirl621
Member

02-14-2003

Thursday, November 17, 2005 - 8:33 am   Edit Post Move Post Delete Post View Post Send Froggiegirl621 a private message Print Post    
I just wanted to come in here and wish the best of luck during your house search, Saxy. I know when we were looking it was very daunting...we thought we'd never find a place. Luckily Steve's mom is a realtor so we were able to see as many houses as we liked almost whenever we wanted to. It still took us almost a year and a half (with some of that time looking not so seriously) to find the perfect starter house for us. We've been in our home for a little over two years now and it's been great so far. The house didn't need too much work, we basically just replaced all the kitchen appliances, re-did the wood floors in two of the bedrooms and then painted almost every room except the main bath and the kitchen. Within the next 3-5 years we'll be looking to buy again, only this time we hope it'll be our forever home and will be everything we've always wanted.

Good luck with everything and keep us posted!



Tera
Member

08-10-2000

Monday, November 21, 2005 - 10:17 am   Edit Post Move Post Delete Post View Post Send Tera a private message Print Post    
I am so glad I found this thread. I am also house hunting.

This will be our 3rd home purchase in our 16 years of marriage. I have decided this time to build new. I know exactly what I want. And have some time (about 4 months) to find the perfect house. Unfortunately we are now 1500 miles away from where we will be living.

My question is... is a professional realtor absolutely necessary when buying a new home? I am talking about buying from a builder in a new development.

I have a realtor but unfortunately I am not getting enough information from her. I spend almost every spare second doing searches online for builders in the areas we are considering. So I am thinking, if I am doing all the work, why the heck do I need a realtor?

Oh, I guess I should mention that the realtor I am talking about is my sister-in-law. And she is a very good friend. I have just been very frustrated in the process and I know now that I would much rather have her as a friend than a realtor. (Maybe that problem is for a different area on this board).

Any advise on this matter will be greatly appreciated.

Serate
Member

08-21-2001

Monday, November 21, 2005 - 8:12 pm   Edit Post Move Post Delete Post View Post Send Serate a private message Print Post    
Everything you wanted to know about VA loans. Years ago the VA loan system was a one shot deal. You qualified once and that was it. Now as long as you are in good standing you can get another loan if you move.

http://www.homeloans.va.gov/

Seamonkey
Moderator

09-07-2000

Wednesday, November 23, 2005 - 12:11 am   Edit Post Move Post Delete Post View Post Send Seamonkey a private message Print Post    
Tera, maybe Spy will stop by.. she had a whole thread about building her house.. thread probably long gone, but it was fun to follow.

Tera
Member

08-10-2000

Wednesday, November 23, 2005 - 9:59 am   Edit Post Move Post Delete Post View Post Send Tera a private message Print Post    
Oh I hope so, Sea. Thanks, I will keep checking back to see if she posts. :-)

Teachmichigan
Member

07-22-2001

Wednesday, November 23, 2005 - 7:41 pm   Edit Post Move Post Delete Post View Post Send Teachmichigan a private message Print Post    
Tera,

We built a house in the summer of 2004. It was the most fun thing we've ever done -- and I'm thrilled w/the results. We were extremely fortunate in that our builder works w/his brother who is also a coworker/teacher of mine. :-) They actually came in more than $30K UNDER budget!! Part of it was that the concrete was significantly cheaper than they budgeted (we have a rectangle/easy on the budget basement), and another large part was that my dad and I made every cabinet, cupboard and piece of trim in the entire house. We didn't just buy trim and stain it, we bought 12-15 inch boards, cut them, planed them, shaped them, the works. My kitchen would have easily cost 15K if we had purchased them custom-made, but since we did it ourselves it was less than half that. Of course, I also had to live 6 mos. without cupboard doors because both dad and I teach, so when we moved in in Feb. we couldn't work on the doors until June! LOL

We have a yahoo site w/lots of pictures, but if you're looking for something in particular, let me know. :-) My best piece of advice: KNOW WHAT YOU WANT!! We listened to our builder (he made some astute design changes that helped us improve the front), but we also knew exactly how we wanted the house laid out and weren't afraid to "bug" any subcontractors to make sure we got what we wanted.

Seamonkey
Moderator

09-07-2000

Wednesday, November 23, 2005 - 9:23 pm   Edit Post Move Post Delete Post View Post Send Seamonkey a private message Print Post    
Teach, I'd love to see your site if you want to share!

Teachmichigan
Member

07-22-2001

Thursday, November 24, 2005 - 9:55 am   Edit Post Move Post Delete Post View Post Send Teachmichigan a private message Print Post    
I don't mind sharing. :-) The webpage is at:
http://groups.yahoo.com/group/glerums/

I've got the membership set at "open" for the time being (only members can see the pictures). Most of the albums under pictures are labeled by date .. the ones w/months listed are earlier than say "autumn 2004" and a couple others.

WARNING: It was the first and probably only house we'll ever build, so we took pictures of every little thing (who else cares about pipes in the walls??? LOL). The later pictures are better -- more finished looking.

Seamonkey
Moderator

09-07-2000

Thursday, November 24, 2005 - 12:42 pm   Edit Post Move Post Delete Post View Post Send Seamonkey a private message Print Post    
You know what? Those pictures may be very useful in the future and even in the very distant future when the time comes for your house to be inherited or sold. My parents kept so many details on their house as it was being built and 36 years later I was able to pass along much detail to the couple who bought the home.

This had to occur after the close of escrow (which is a California term but means they had taken possession, the deal was done, etc.) and they appreciated it very much.

Also since our house was being built as part of a development, we used photos and 8mm movies to document progress and problems.

OK.. going to go have a look!