Buying a House

[GotGarlic]

Starter home? NO. This is my fourth home. The others were all over 3,000 sq. ft. This is my Last home. And truly the best. It's really about the orginal poster, just a head's up on making sure she has enough room for a growing family.

I wasn't talking about you when I mentioned a starter home - I was talking about Saphellae and her SO. When you're first starting out, as they are, and don't have a lot of furniture or other stuff that needs storage, a smaller home can be much easier to handle.

 

[Elf]

Be wary of condo's, they can have some of the weirdest rules and reg. that can drive you crazy. Be sure you read ALL of their legal documents pertaining to their rules and reg. before you make a decision, once you get locked in, you might have trouble sell because of the rules and reg.s. Good luck and good hunting.

 

[GB]

Ask the owner to see their utility bills. Things like oil, electricity, gas, etc.

 

[Saphellae]

Drama, if you're buying your first home, chances are you're coming from a dinky apartment like I am. Over 1100 square feet is PLENTY for just me and Nick, and a baby if one decides to come along.

 

[DramaQueen]

Ask the owner to see their utility bills. Things like oil, electricity, gas, etc.

I have to disagree with this one. Asking to see someone's utility bills is like asking to see their food budget figures. Utility bills tell you nothing except how much THAT family used in a given timeperiod. I use far less gas and electricity than my neighbor, who also lives alone, so figures like that don't count. I would check on the taxes because those are fixed expenses and ask about future assessments that could cost you a bundle.

 

[DramaQueen]

Drama, if you're buying your first home, chances are you're coming from a dinky apartment like I am. Over 1100 square feet is PLENTY for just me and Nick, and a baby if one decides to come along.

I never lived in a dinky apartment and this is my fourth and LAST home.

 

[GB]

I have to disagree with this one. Asking to see someone's utility bills is like asking to see their food budget figures. Utility bills tell you nothing except how much THAT family used in a given timeperiod. I use far less gas and electricity than my neighbor, who also lives alone, so figures like that don't count. I would check on the taxes because those are fixed expenses and ask about future assessments that could cost you a bundle.

It can actually tell you quite a lot. For instance, my house has an inground pool. By looking at the utility bills of the past owners I was able to see how much the pool caused the energy consumption to go up each summer. Sure there are many factors which could change or skew the numbers, but it does give you an idea at least and that is better than nothing. If you see that the oil consumption is higher than you expect then you can question why. Maybe the furnace is not very efficient. Maybe the insulation is not sufficient. Maybe the windows need to be redone. It just gives you more information to make your decision.

 

[Barbara L]

If you are able, talk with your prospective neighbors as well. They can tell you about the freight train that goes by 50 yards from your new home every 3:00 a.m., as well as other things!

Barbara

 

[Saphellae]

I never lived in a dinky apartment and this is my fourth and LAST home.

Then consider yourself lucky.

 

[attie]

Looks like things are pretty well covered, the corporate outgoings left to check though. For that unit here we would be paying $250K to $350K depending on it's age. In say inner city Sydney or Brisbane, $800K to $1.2M. Rent here for a 3 bed unit is $450 to $600 a week, I don't know what city rents are like.
Accommodation is critical for us, rental vacancies are less than 1% of the market, last Tuesday Sydney [5 million people] had 735 houses and units listed for rent, things are pretty tight.

 

[Saphellae]

Well we are about to put an offer on a place! It is 3 bedroom end unit semi attached condo, finished basement, lots of storage, laundry room, big kitchen, big living room.

Wanna know something awesome? I can get all new kitchen appliances, new gas stove, new fridge, new dishwasher........... YAYYYYYYYYY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Asking price is 124,900. We are going to offer about 116,000 and meet them in the middle hopefully around 120k. Compared to other units in the area, this is lower priced, needs no work done (condo fees take care of windows, roof, lawn, etc) and definately meets our needing more room in the future

We are just waiting for the call so we can go to the office and start the paperwork.

Man, someone is practicing a trumpet or tuba or something down the street, it's echoing EVERYWHERE and it's sooooooo annoying.. they are AWFUL!

 

[Barbara L]

That sounds great Saphellae! The condo that is, not the tuba! Prayers for the lowest price you can get. Be sure to post pictures!

Barbara

 

[LPBeier]

Way to go, Saph! I will certainly be praying for your deal. We just bought a townhouse a couple of years ago and it was around the same price range here on the west coast. Even though it was 20 years old and needed a bit of work, it was much better than the money pit we owned previously. But that Money Pit's land got us enough to buy this one mortgage free, pay out the other mortgage AND credit card debt, and even have a little left over for most of the needed work.

With all that is going on in your life right now, this will be great for you!

 

[Saphellae]

Good news, the offer was accepted, but there is someone who offered before us, although they haven't met one condition - to sell their house first. So, after we get all of our ducks in a row by the end of this week, they will have 24 hours to decide if they want to keep BOTH houses until they sell theirs... so chances are in our favor! They got full price because the first offer was, but it's okay, because we bargained in the appliances I'll get my gas stove, just not right away.

If all goes well we will have a home by the end of November! woo!

 

[LPBeier]

Contratulations Sapellae! It IS a wonderful feeling. My prayers are with you and Nick while you wait for the decision.

 

[Mama]

Congratulations Saph! That's wonderful!

 

[NAchef]

Congrats!!

 

[roadfix]

Congrats Saph! You have a much better chance than the other buyer with the contingency.

When we bought our second house we thought our first would sell within a few weeks. Wrong. It took us nearly 5 years to sell.

 

[expatgirl]

Saph, I haven't read thru all the threads........did you get a licensed inspection on your home? Don't want to be a downer here but I don't know what the laws are if there are any in Canada. In the states the prospective owner pays for a licensed inspector (you don't have to have one if you don't want to) and he or she can make recommendations which you then can take to the owner (eg....fix the leaky roof, replace the heater, etc) actually they are well worth the investment.......once you sign those 500 documents the house is yours to deal with for life......unless the owner has misrepresented problems (flooding)

 

[Saphellae]

No worries there expat. the home inspection is scheduled for today and everything will be checked thoroughly. Buyer pays for the home inspection as it is the buyers decision to get one.