1st time house buyer....

[jman01pa]

I am looking into buying my first home and was wondering if you guys have some tips and experiences you would like to share.

I am a veteran so I qualify for VA. Kentucky has some pretty good programs and my credit score is decent.

This is pretty scary stuff. However, I am excited as well as nervous.

J

[caddmannq]

I'd hire an agent to negotiate for you, seperate from the agent who gets the comission for selling the house. It will be his duty (for the fee you pay him) to see that your interests are represented in all aspects of the purchase.

For instance:

An agent offers a house for a reasonable price in an attractive neighborhood. Looks good to you. But the agent you hire tells you that the property values are likely to decline because the city council will be voting to approve commercial developement down the street, and traffic in the area will increase substantially when the new freeway across town is completed.

Or...he tells you that similar homes of that vintage built by the same contractor have had numerous expensive plumbing and electrical failures.

Or...he tells you that the local government may decide to exercise emminent domain upon that property to build parking lots for the community college expansion.

Etc, etc.

Now the agent selling the house must by law disclose to you any such problems that he knows about. If he doesn't, you have the legal recourse to sue him. But how do you prove what someone else knew & when he knew it?

Protect yourself up front. Also insist on termite, structural, etc. inspections of the house before you sign. They may or may not be required in your area.

You might want to read House Smart by Bruce Williams. If your library doesn't have it, see brucewilliams.com/rm-home.html

[geekgrl]

Ya moving closer to Lexington? *grin*

[cadetstimp]

I've noticed that agents who where once appraisers do a much better job.

[NeoStarO1]

Protect yourself up front. Also insist on termite, structural, etc. inspections of the house before you sign. They may or may not be required in your area.

I second this, I haven't purcahsed a house but i have watched my folkds negociate on houses and this they always request at the expense of the seller, can do either way, but it also helps that if you want to purchase this you can negociate prices drops for needed repairs and such. and if they are unwilling t0 negociate then you can opt out.

NeoStar

[Philip1952]

Get your own inspector. Don't trust just one. Expecialy if it is from the real estate company of the seller. Find another one and compare notes from both. If yours finds problems the other doesn't you have something to deal with. In my area it cost around $125 to have a house inspected.
The reason I say this. A friend bought a house. It was inspected by a inspector of the real estates companys choice. Three weeks after they moved. His wife was taking a bath. She and the bath tub went into the basement. (very rude shock to say the least, she wasn't hurt thank goodness). After all the law suites and everything. The real estate company and the inspector paid $30k to replace all the floor and half the walls in the house from termite damage.
Remember the real estate company listing the house Does Not work for you. They work for the seller.
Ask around. Find out if the area has high water problems in the spring. If the place has a basement find out if the area has a high water table. Which could cause a flooded basement in the spring or fall.

[NeoStarO1]

A friend bought a house. It was inspected by a inspector of the real estates companys choice. Three weeks after they moved. His wife was taking a bath. She and the bath tub went into the basement. (very rude shock to say the least, she wasn't hurt thank goodness)

OMG!!!!!!! NO kidding, thank goodness she wasn't hurt. Sheesh, that is bad, you have a good point, guess it pays to request one at the sellers expense and then also do a second opionion at your own expense after the seller does his. To see if both inspectors jive.

NeoStar

[caddmannq]

I agree. We live in a termite area, so we had 2 inspections.
The second guy found minor damage that the first one missed.

[draboo]

here are a few things to look at before you even go inside:
(worked in the residential home construction industry since `72)

look at the roofline and look for sags. get up close and eye the roof from the edge to the ridge(peak) .you will easily see a sag if there is one,mainly from snow build up thru the years.

i always look at the front door and what kind of shape its in. a severly worn front door may give a clue to the general upkeep. if the people didnt keep the door in good shape(which is the first thing people see,IMO) , what about the rest of the house?

single or double glazed glass windows?? if single pane,they are old and may need replacing.

back to the roof. are the shingles curled on the corners? look at the south side of the house roof.this side of the roof takes the most abuse. also missing shingles,especially around the eves.

make sure to ask what the matieral the siding is made of. it may be an asbostos composite,which may be trouble either working on or replacing,depending on your states asbestos abatement laws.

after entering house, if you feel like you are either walking up or down hill, definate floor structure problems.


look at the little space around the interior doors, its called the reveal. the space should be even all around,especially across the top of the doors. if not,another indication of floor structure problems.

all doors should open and shut without binding or dragging.

ask if the walls are wallboard or lathe and plaster. lathe and plaster wall covering is a real pain to maintain. imo

any cracks in wallboard.

is there old hardwood flooring under any of the carpeting?? if so,you may be in luck. many older houses have carpeting over hd floors and refinishing them is worth the effort.

if carpeting is worn,is there a carpeting allowance??

age of heating/cooling system.

look for obvious cracks in the floor structure in the basement. if a crawl space,and you are interested,definatly seek a reputable home inspector. in michigan,there are no licensing requirements,but in your state,it may differ.

i dont know much about electrical or plumbing,but if any of the wiring is called"knob and tube" its really,really old.

i could sit here and write lots,lots more,but i think thats enough out of me


any questions,feel free to pm or email> draboo11@hotmail.com

[Philip1952]

very good suggestions draboo
Neo> after it was all over with and done. It was a standing joke amoungst friends about her little tub dive. She was lucky it was an old cast iron tub with the claw feet. By the time it took all the shock of the fall and breaking the feet off. All she got was a red face and P#$%d off. She was lucky. It was a 9 foot drop to.