We want to buy our first house soon...

[pointblank]

Anyone have any advice as to what I should look for, questions to ask, lessons learned from past experience etc...?

We are in the looking/open house stage right now and dont have an agent yet, and I know the agent will know a lot more, but I want to arm myself as much as possible.

Thanks!

[Arger68]

1. My best advice would be to

DEFINITELY get a home inspection done!!! They check your furnace, wiring, AC, foundation, etc. If they find something wrong you can either cancel your purchase agreement or negotiate repairs with the seller. I am a real estate agent, and one of my clients purchased a home in which there used to be a gas fireplace. The inspector found that the gas pipe was still there and leaking gas into the wall. If something had ignited it, the whole house could have exploded.

[XemaSab]

3. I'll second that

I don't know much about real estate at all, but I know people who say that the home inspection saved them HUGE amounts of wasted time and money on fixer-uppers that weren't worth it at all.

[Xithras]

9. I'll third that.

When my wife and I were looking for a new house this last time, we fell in love with this charming little 1930's home that just ooozed "cute". We could afford it, our agent thought it looked like a great deal, the seller provided a home inspection performed by a company he had hired, and all told everything looked great. Still, I insisted on a home inspection of my own and when the seller hesitated to approve it, I knew something was up. My wife was FURIOUS when I refused to buy the house, but went along anyway since we'd both agreed that only houses we both liked were worth buying.

A month later my realtor mentioned that he'd sold the house to another of his clients, and it ended up needing $90k worth of foundation work and remodeling. The house was a cute, attractive, money pit.

The house we eventually bought also came with its own home inspection, but again I insisted on my own and shelled out several hundred bucks to have it done. The inspector turned up several serious problems that hadn't been mentioned in the sellers report. We still bought the house, but we were able to work them down over $20,000 because of the flaws (mostly dryrot abatement and well pump issues). Not a bad return on a $400 investment.

[pointblank]

13. I have been told to get an inspection done

and WILL definitely do it...especially after reading some of the posts below!

Thanks for the advice!

[matcom]

2. Home Inspection is #1

and make SURE you do NOT get an inspector 'recommended' by the selling agent. get your OWN. and i also recommend when you look for an agent get a BUYERS agent only

good luck

[Whoa_Nelly]

4. Agents aren't always reliable sources

And can be more interested in selling you a house than being concerned about your needs/money. Even though there are laws that the realtor you're working with must look out for your interests, there are a those who only pretend to do so.
(No offense meant to any DU Real Estate agents here)

Check the laws in your state regarding grace period for backing out of escrow with no questions, no penalty. Here in CA, you can back out within 15 days of putting down earnest money.

Don't buy a house with a garage conversion, or a conversion returned to original state UNLESS owner can provide a city/county permit. This is also info that is public record, so make sure you see actual documentation. Homes with handyman garage conversions can cause all sorts of problems if building codes have been side-stepped.

Start now talking to home inspectors to look into their experience time, and even better if they are ASHI certified. (American Society of Home Inspectors)
http://www.ashi.org/

Don't choose a home inspector simply because the realtor recommends one they know. And especially one that the realtor says they can get you a discount on...usually means the realtor and inspector are in it together to help move the deal along. You also want to take into consideration that by selecting your own home inspector, you are dealing with someone who does not have a vested interest in you buying the home.

Make sure there is a recent pest inspection or have one preformed. Check the laws in your state re: how long a pest certification is good for if there has been one done previously. (Seller should pay for this inspection)

Do get a roof inspection on the seller's dime.

If you're not already pre-approved for a home loan, get this before you start looking.

Know that homes built after about 1978 are up to present day building code standards.

If looking at older homes, ask about updates of any kind.

Disclosures about a house must be given to you within 72 hours of your offer accepted by the seller. These disclosures are important and required as they point out previous and/or fixed problems with the building and property.

Get the home inspection done ASAP after having your offer accepted. If the home inspector finds things that are a problem and have not been disclosed, you can use this as leverage in getting a reduction in the home's price, or as allowance for the seller to give you money back on for repair, or make it part of the deal that the seller must have the repairs done AND INSPECTED (if needed) prior to closing on the sale.

Ask about roof age, A/C and heat age. Get the owners previous energy bill amounts for each month over the past year. By knowing these amounts, you can predict what you may be paying, and it also can reveal that there may be a problem with the unit(s) re: not being maintained, in need of repair.

Get the comps in the neighborhood for the houses you are looking at/interested in. Your realtor can provide you with this. Look at the cost per square foot compared to the price when looking at the comps and the house you may want.
(house price divided by the square footage = price per sq. ft.)

DO have at least a 1-year home warranty paid by the seller. A home warranty usually covers existing appliances, A/C, furnace and other elements related to the house.

If I think of more will post or PM you.

Happy House Hunting!!! :hi:

[Whoa_Nelly]

8. A couple of other thoughts

Check into all types of loans and ask a lot of questions about the amortization tables on the loan.

Know that Fanny May and Freddy Mac, loans for first-time buyers, have been having some problems.
(Google search)
http://tinyurl.com/77tpn

Know that Missouri DOES NOT have licensing requirements for home inspectors at this time.
http://www.home-inspect.com/legislation.asp#MO

Here's another link for other home inspector info re: NAHI (National Association of Home Inspectors)
http://www.nahi.org/

[pointblank]

14. Thanks!

I have a few advantages here.

My wife works for Coldwell Banker/Gundaker in the corporate office and she deals with agents all day long. Her grandmother-in-law is an agent with 40 plus years of experience and will wave her commission for us.

My father in law owns a roofing supply company in town, so the roof is definitely taken care of.

One thing we haven't done is get pre-apporved for a loan. Will this hurt my credit if I dont use the loan right away? I have heard just having your credit checked too many times will lower it. Besides, my credit isnt the best anyway, nor is it the worst either. My wife's credit on the other hand is immaculate and I just recently paid off all of my credit card ebt and my car loan, so i think that will help me.

The warranty is sounding like the definite way to go.

[Whoa_Nelly]

20. re: credit scoring

Don't know much about this, so maybe you should talk to someone who knows (call a lender/bank just to specifically learn more. They will probably be happy to tell you what you need to know.)

Here's a link to some info re: credit score:

http://www.ftc.gov/bcp/conline/pubs/credit/scoring.htm

I do know that there are certain times when you have your credit score pulled for access there is to be no lowering of your score (credit check for renting is one).

So, with that in mind, here are a couple of other links that may help you:

http://money.howstuffworks.com/credit-score.htm

and

http://www.bankrate.com/brm/news/credit-scoring/20031104a1.asp

And this one has many links in it to explore laws and regs re: credit scoring:
(scroll down past the info/ad links)

http://www.creditscoring.com/

[pointblank]

17. Thanks for your advice.

One thing I will say is that I DEFINITELy want a garage, and I never thought about seeing if it was a conversion or not....thats one to think about for sure!

[Whoa_Nelly]

21. Re-sale value on two car garage

is much better than a one car garage.

Re: conversions

Some people convert one-half of a garage of a two car garage to create more square footage. There are specific building code standards that have to be met, such as the placement of access from interior, the type of door leading into the house from the garage (can't let CO in from car and must have an exterior-rated door and seal). The biggest reason to walk away from a converted garage is the firewall factor. There are standards in the home building industry that require a 20 minute firewall between the garage and the interior. Many garage conversions not only do not meet that standard, but it is a HUGE no-no to have a garage conversion that backs to a bedroom wall.

[azmouse]

5. Buy less house than you can afford.

That way, should something unexpected happen with your jobs, you aren't stretched to the max to make your mortgage payments. And be sure to budget for unexpected expenses. There are always things you don't think about until you move into a home, like window blinds for instance, but it can add up.
And enjoy your new home.

[pointblank]

15. This is something

we will definitely do. The houses we are looking at are small, and older, but in decent areas. I dont need a mansion, I just want my own little castle that i can customize and add on to!!

Besides, we plan on trying to start having a child about a year after we get our house, and I hear they can get pretty pricey!

Thanks!

[Whoa_Nelly]

22. Re: older homes pre-1978

Must read, not only for your own health, but for your future child. Lead based paints can still be found in older homes. Lead poisoning can occur even without direct contact to the paint or painted surface. Lead poisoning can lead to mental retardation during the developmental years of a child.

http://www.nsc.org/library/facts/lead.htm

<snip>
By far the biggest source of concern is the lead paint that is found in much of our nation's older housing. Until 1978, lead paint was commonly used on the interiors and exteriors of our homes. Today, the US Department of Housing and Urban Development (HUD) estimates that about 38 million homes in the US still contain some lead paint. While lead paint that is in intact condition does not pose an immediate concern, lead paint that is allowed to deteriorate creates a lead-based paint hazard. It can contaminate household dust as well as bare soil around the house, where children may play. In either situation, a child who comes into contact with lead-contaminated dust or soil is easily poisoned. All it takes is hand-to-mouth activity, which is perfectly normal for young children to engage in. All it takes is the lead dust equivalent of a single grain of salt for a child to register an elevated blood lead level.

[Inspired]

40. I've always heard to buy more house than you

think you can afford but always buy a lesser car.

[radwriter0555]

6. Get pre-approved for your loan.

Don't buy something you don't LOVE.

Shop around. A lot. Go to as many open houses as you possibly can, starting now. Go this weekend. This way you can get a real good idea of what you want... what will work for you, and what you don't want.

The nice thing about open houses is that you get the chance to meet real estate agents as well, so you may find someone you like. The thing is, even though you may miss out on one house, there really will always be another one out there that will be just great.

DO NOT make an offer on a house that you are not committed to buying.

Just remember though, real estate agents aren't necessarily any better informed than you are... definitely try to find an experienced RE agent with a good track record. Interview THEM! You're hiring them and paying a BUTTLOAD of money, so you're entitled to the best service money can buy.

Sit back and start reading, get out there and start shopping. It's all part of the learning process. On the 2 properties I bought and sold, I looked at about 40 properties, at least. I found the right places for me... and waited patiently until I found them!

Good luck, it's just shopping. Go for your best deal.

Oh and when you buy the house. KEEP THE HOME BUYERS WARRANTY for as long as you own the house!!!!! I re-plumbed my first house, one pipe at a time on my warranty, at $30 a shot, saving myself well over $5000. Buy it, keep it, use it!!! Read it, learn what it covers, and shop around for the best one since the seller buys it for you in most states, the first year. YOU have the right to select it, so learn which one in your area is the best one, before you buy.

[pointblank]

16. We started

going to open houses last weekend and we had a BLAST. Some friends came along and we made a day of it, breakfast beforehand etc.

We plan on doing it every Sunday until we buy one.

The only thing that sucks is that even after one day we found one house that we fell in love with....but we realize we have to get over it as we are not ready yet and I am sure it will go fast.

Another good thing is that my wife works for a CB/Gundaker doing advertising, so she has a password for the MLS system...which is the system all agents use to look up houses and it gives you all sorts of good info.

[radwriter0555]

32. You're off to a great start then. It also helps if you know about

construction and home maintenance and repair. Looking for ceiling cracks, especially stains; understanding how the age of a roof is a factor; getting acquainted with plumbing and knowing when to be or nor be concerned about electrical load, etc.

Always run the taps, flush the toilet, turn on the shower, test the water pressure. Look for stains and leaks under sinks.

A house is all about the details that will suit you! It's so much fun, enjoy, and good luck and KEEP AND USE THE HOME BUYERS WARRANTY. It will save you thousands and thousands of dollars on your appliances, plumbing, electric and so on... It's one of the most tragically overlooked tools a home-owner can take advantage of.

[SoCalDem]

37. Love and real estate don;t mix.. There is always another house

you will love ..possibly more than the one you thought you loved..

Buy in haste..repent at leisure..

[Gormy Cuss]

7. Make sure you look at lots of houses.

It's the best way to understand what is available in your price range. If at all possible don't become house poor. A good position is to pay less than you are now paying in rent, and pocket the difference for home repairs, purchasing appliances, etc.

Be prepared to spend money AFTER the closing -- you may want to buy basic home repair tools, garden tools, etc. that you don't need now. You may want to buy window coverings, paint walls, and other inexpensive niceties-- they all add up.

I second all the other advice about buyer's agents, ASHI certified home inspectors, etc. Pre-1970s housing, ask about lead paint. Disclosure laws for hazards and history vary by state --understand what conditions must be disclosed by the sellers according to your state's regulations. California has a very long laundry list but some states require little more than lead paint warnings.

Whatever you do, don't buy unless both of you are comfortable with the decision.

[ProfessorGAC]

10. Buy Small

It's far more productive to turn a small house into a personal castle than to buy huge to impress other people. It keeps the payment low, the taxes down, and people only really need so much space. If it starts getting crowded, you do what we do. Start throwing stuff out or take it to the charity clothing center. We've been in our little place since 1986. We are NEVER moving.
The Professor

[jobycom]

11. Get an agent. Don't speak to anyone at an open house until you do.

Agents work for who hires them. If you have an agent, they work for you. If you speak to an agent at an open house, they work for the seller. You want your agent to work for you.

Agents won't charge anything until you buy, and the advice they will give you, assuming you get a competent agent who listens to you, will probably save you more than the price of their commission. As long as they are your agent. They will help you decide market value, which helps when making a bid. They can tell you what to look for and what to avoid. They can help you figure out school districts and important info about the neighborhood. Invaluable.

Not saying you should trust everything they say, either. Do your research. But your own agent has only the incentive to help you (unless you are looking at a house they also list, in which case they are required to disclose that). They will even help you get the best loan value (still shop around, you may still find better loans), because they get paid on the price of the house, so the better loan they can get you , the more house you can afford.

That's the basic advice. Next best is choose a neighborhood that fits your lifestyle. Visit it at night and on the weekend before you buy, to check for hidden problems, like noisy neighbors, or in the extreme, prostitues or drug dealers walking the streets (you'd be surprised).

You can adjust to a house that isn't perfect better than a neighborhood that isn't. But still, make sure you have the rooms you need. Check out as much as you can yourself. Don't trust a home inspector--they are usually hired by both sides, and they are almost always completely useless. Sometimes they find little things, but they often overlook big things. Look for cracked slabs, weak piers if it's off the ground, rotting timbers, ant piles against the walls. Your agent can give you ideas on that, too.

ANd think about resale value. The largest house in a neighborhood has the worst resale, because people like to move into neighborhoods slightly better than they can afford. So they look for smaller houses in better neighborhoods. Get a feel for the direction the neighborhood is going--is it decaying, being restored, or holding steady? Look for rental properties--they drive down prices.

Also, check out neighborhood associations. Most of them are run by petty little dictators who raise fusses about the most picayune details. We have one guy who writes nasty letters if grass is an inch too tall, or if someone's car sticks out too close to the sidewalk. Talk to a neighbor if you see one in his yard (if you are serious about the house). Knock on doors if you have questions. Get a feel for what people think. You might find a problem in the whole neighborhood, you might find that your house is known to have problems.

Also, check on the property tax. Not all areas are equal, and it could mean, literally, thousands of dollars a year. Also, insurance. If the house is in a flood plain or some other elevated-insurance area, it could also cost you.

You get the idea. Basically, figure out what would bother you, and make sure you aren't buying into that. You want to live in a house four or more years, or you will lose money when you sell it (because of closing costs and interest and appreciation). If the housing bubble bursts, you could be stuck even longer. Make sure you like the place.

Oh yeah, and shop around for a loan. Bankrate.com and manylarge credit unions have good info on what to look for, and lists to help you look.

And don't worry too much. You don't have to do all of that to get a good home. Those are just things to thing about. If you like the house and the neighborhood and can afford it, don't cripple yourself over the details. Houses can be fixed. A good book and Home Depot can help you overcome most flaws you might later discover, for a lot cheaper and a lot less difficulty than you fear.

If you're still reading this, you're trying to hard! :rofl:

[pointblank]

12. I guess I am trying to hard!!!

:rofl:

[Arger68]

23. One thing about getting your own agent:

I'm not sure about the representation laws where you are, but here in Minnesota whoever shows you a house represents the SELLER ONLY unless you have a contract for representation with that agent. Even if someone calls me to show them a house listed by another agent or company, I represent the seller of that home until I have a contract signed with the buyer for representation. This is very important and some agents (though required by law) aren't very quick to disclose this fact!!!

[jobycom]

18. Sorry, one more bit of advice. Learn about loans and mortgages.

There are a lot of things you can do with mortgages. For instance, there is a hidden tax on mortgages, called PMI. It's a small insurance fee on your loan itself, to protect against people defaulting on loans before they have enough equity in the house to cover the loss. It ony benefits the bank, not the buyer. If you can put down 20% of the appraised value of the home, you won't have to pay this. If you don't have that downpayment, there is a gimick you can use if your credit rating is good. There are companies who will do a second mortgage loan of 15% of the value. What this means is, you put down 5%, you get a second mortgage for 15%, and the primary mortgage is for the remaining 80%. This second mortgage will seem like a rip-off at first, because it has a much higher interest rate, but what it does is allow the money you would have paid in PMI (which you will never get back) to go straight into equity (minus the interest rate). So you acrue equity faster, which means you are paying off your loan faster than if you have PMI.

You have to have good credit, and you have to find a lender who does this. But there are several things like this to look for. Also, if you haven't, learn the difference between adjustable rate and fixed rate mortgages. Adjustable rates can be great, especially if you plan to sell in just a couple of years. They can also cause great suffering, if they are done wrong. Any good agent can explain this to you.

But don't overlook the financial side in your excitement about the house.

[GOPisEvil]

29. There are first-time buyer's programs that do away with PMI.

You attend some basic finance class for a few hours, meet with some folks, and voila. Mine was through Bank of America here in Texas, but it might be offered elsewhere. Without this program, I couldn't afford the house payment.

[ScreamingMeemie]

19. Get an agent to pull comps for you before you begin your search

Have them (or an appraiser can do this too) pull comparable sales for the last year in the areas you are interested in, so you have a good idea of asking prices...value differences for updates etc...


Good luck! :hi:

[no name no slogan]

24. DEFINITELY get financing pre-approved FIRST

because you don't want your offer rejected because another bidder already has their financing lined up, and you don't. The market is not as competitive as it was a few years ago, but it's still pretty hot in many places. If a property is particularly desirable, there may be competing bids on it-- especially if the seller is "motivated" (i.e., needs to close on the property fast).

Also, if you're pre-approved, you'll know exactly how much house you can afford.

In many locales a home inspection is REQUIRED before the sale can be completed. Be sure to find out the age of the furnace, water heater, AC, siding, windows, etc. If they're older and need to be replaced in the next 5-10 years, you'll need to factor that into your bid, too, because replacing those things can cost a bundle especially in an older home.

Check the local home taxes, too, because those will also affect what you can afford. Check the tax rates from the past few years so you can see if they're going up or staying the same (they rarely go down). Also check out the condition of the sidewalk, boulevard, street, etc. too, in case those need to be replaced in the near future. If they need replacing, you will be assessed and your tax bill will increase.

best of luck

[newportdadde]

25. Avoid buyers agents, they don't 'work for you', one step above car salesme

My wife and I tried that song and dance and found every house we looked at we already had seen on realtor.com. We looked at a TON of houses in just one day days starting with the turds trying to see if we would jump at the first one and be an easy sale. They break you down with house fatique and just hammer away at you. She also tried to push a contract on us that even if we found a house on our own like FSBO we had to use her services for SIX MONTHS!

Instead of having one person working with a 7% commision now you have your buyer agent AND the selling agent involved. The buyer agent wants you to pay out your ass as much as possible so their commison is nice, they aren't going to help you break down an asking price for a better deal. They aren't looking out for your interests anymore then a selling agent. The buyer agent we talked to never said "Those gutters are rusty and you kids 22 &20 don't have the money to fix them" it was just buy buy buy... ow that rot thats nothing(turned out to be termite tracks when I can back later to dig at it alone). Seriously avoid them like the plague. If your dealing with one realtor you may.. may be able to squeeze more.

Also get pre-approved for a loan and don't ever reveal your financials when making an offer, had an agent while we made on offer on her clients house wanting to know my personal info which is none of their fucking business if I can get the loan and have the proof to show them. I'm not telling you how much cash or bank pull I have when I negotiate price.

We looked for 4 months and ended up getting a house FSBO owner from a nice couple who had lived there 20 years. They hired an agent for a flat fee to do the paper work, I would have just gone lawyer but it was their decision.

This is a huge decision take your time, look around. Poke around the house look for termite damage, water damage, foundation fill dirt etc.

Get a home inspection!!!!!! write up your offer with the clause you can backout(get your deposit) if the home inspection goes bad.

Don't be an idiot and pop asking price like on the HGTV channel, undercut them some and work up, its all negotiable.

[Digit]

33. Excuse me, but.....

I was a Realtor who decided to go back into business when Buyer Agency was but a whisper in the field.
When first licensed, I had asked in my required ethics class WHY did I have to represent the seller when I had no relation to them and the listing agent was already representing them. Two against one did not seem like fair to me.
In the late 80's, I first heard of buyer agency, and my interest was peaked. No major firms would hire agents representing buyers back then, so I worked for an non-major company with the understanding that I would be representing buyers. Back then, I had to get permission to even SHOW a property as a buyer agent, so it truly was an uphill battle. I embarked on my uphill battle and although it was against conventional custom, I sucessfully represented many buyers. We were NOT welcome, believe me.

I have never been as successful as a regular Realtor as I point out the problems I see and I have an excellent eye at spotting problems. Not that I rule out the property, but just point out what I see and suggest a structural engineer to see why lolly columns are holding up corners of homes, etc. :-)

I just felt I had to defend myself in this post, as long time buyer's agent. I DO represent my buyers, just like they were family. I have an excellent eye for problems. Yes, it does take me more time to find the ideal home for my people, but ya gotta do what ya gotta do.

If my damned knee did not keep me from showing homes anymore, perhaps I would not be in the pickle I am nowadays and I could still be out there helping people.

Oh, and new home buyers...STILL get a home inspection! New does not mean perfect.

[snooper2]

26. Don't use a realtor...just rely on your loan officer:

I bought a house from a friend and we togther saved 6% (of purchase price) by not using realtors. They are not needed, unless the house your looking is already listed with an agent.

Realtors don't add any value when your buying, mostly for selling.

You will have to do a little more on your own, but you learn. I was an idiot before I bought mine.

Had to get my own pest inspection (required in Texas) $120
Had to shop around and get my own Home insurance PMI (drop your current auto insurance and put your house/cars together will save bunches! (I was paying $1300 year on truck, dropped to $650 year)
Was my option to have an inspector, did my own inspection, excpet had the foundation inspected (not covered by insurance in Texas)
Your bank/loan officer will have you get an appraisal (comes out of closing costs)
Make sure you get a fixed-rate loan (I got 5.6% 6 months ago)
DO NOT buy a house where they converted the garage into more living space. UGH
Look for an established 10-15years neighborhood with mature trees

There are lots of little things your Loan Agent can help you with, and they will be there at closing. For instance, I got a FHA loan, and the guy I bought from had a FHA loan. We closed on the very last day of the month, and almost didn't make it due to some of his divorce papers missing. If it would have carried into the next week, he would have had to pay around $780 in intrest (compiled monthly)That would have cut into the agreed (profit) he was making on the sell.

[LSK]

27. get an agent who wont pressure you into buying anything

I had an agent show me something like 20 homes over half a years time before I committed to something.

realtor.com is your friend.

Try and put 20% down and get a fixed loan.

[snooper2]

28. forgot that point..

I looked at hundreds of homes on realtor.com for over a year before buying...

Great resource, use price range and zip code and your set...

[yellowdogintexas]

30. be absolutely sure you set up an escrow account at closing

you will be glad when the property taxes have to be paid and your loan company pays them for you.

Makes the monthly payment a bit higher but well worth it.

If you live in California there is a supplemental tax which comes between 6 months to 18 months after you buy. It won't be sent to your lender, but if your title company has set up your escrow correctly the money will be there in the escrow account and you just have to call the mortgage company and ask them to pay it for you.


I work in property tax for a large national mortgage company.

[Gormy Cuss]

38. On escrow accounts

If you are signing with a major mortgage company, having the escrow account makes your life easier because you don't need to set aside those dollars yourself in anticipation of real estate taxes.
These companies handle it professionally and for the most part seamlessly. You can chose to direct pay but as first time owners you'll have plenty of other things to keep you busy.


If on the other hand you sign up with a smaller mortgage company, be sure to do your homework on their track record with escrow accounts. Some of them are notorious for paying late, failing to calculate the amount properly so there's a huge remainder due at tax time, and other annoyances.

[renter]

31. Some other stuff...

1.Walk around the neighborhood on a weekend night and Sunday morning. This will
tell you what sort of nocturnal activities occur around your future house.
2.If possible, look around the house right after a heavy rain. NO water should be
standing around your foundation.
3.Turn on the furnace and then turn on all the lights and finally, turn on the
microwave stove. Look for any dimming of lights, indicating you have enough
electricity to run things. Microwaves, for a VERY brief moment when turned on
will cause a big surge in electrical use. In newer homes, they are often on
their own circuit. The home inspector as mentioned above should catch this,
but it is easy to do on your own.
4.If the house has air-conditioning, turn it on.
5.Do get pre-certified for your mortgage as stated above.
6.Check into a 15 year mortgage, and have your financial institution compare how
much interest you'll save for not that much of an increase in monthly payments
vs a 30 year mortgage.
7.Buy a duplex, live in one side and rent out the other.

[Whoa_Nelly]

34. If doing own walk-through re: DO NOT turn on A/C if

the outside temp is less than 60-65 degrees farenheit. Turning it on in cold weather can damage the A/C compressor.

http://www.cchis.com/tips/centralair.htm
To test the air conditioning, the outside temperature should be above 60° for 48 hours (some manufacturers recommend 65°). If you turn the air conditioning system on when the temperature is below 60°, you may damage the compressor.

[SoCalDem]

35. Qualify for the maximum you can borrow BEFORE you look

It will save you from looking at places you cannot afford and will help you get a great deal if the seller knows you have financing already lined up..

some realtors show you stuff they KNOW you probably won;t qualify for, in hopes that you can lay your hands on more money..somehow..

Save some extra cash aside/./closing ALWAYS costs more than they tell you and on closing day you don;t want an ugly surprise.."You need $1500 more"..

Take a friend who knows construction/wiring/etc with you when you zero in on a few you like.. Cosmetics can cover some nasty structural problems.. Before you sign anything, pay for a real inspection..one where YOU hire the inspector.. some realty places are in cahoots with "inspectors" ..

wall paper comes off.. paint can be changed..curtains are not all that expensive..carpet probably SHOULD be changed

look for NEW appliances or ask for a reduction and have them TAKE the old ones with them..or plan to sell them.. (unless they are quite new and clean)

run water..flush toilets..run dishwasher...look for rust at the bottom of the water heater..

look in the attic space..sniff for mildew..

take a marble with you.. if the place has tile/wood floors, place the marble on the floor to see how level the floor is.. could be foundation problems.

[WritingIsMyReligion]

36. Please get yourself an agent.

They have rotten reputations, but those aren't entirely deserved. My parents are both RE agents, and they know what the hell they're talking about: The housing market is hell, especially for the first time, if you don't have an agent.

[SoCalDem]

39. what state are you in??

you can look at tons online and chek them out before you "get serious". It might help you identify what you want.

make notes as you go and as you surf the net:)