Jaymz Posted February 5, 2010 Report Share Posted February 5, 2010 Wow...Thanks for all of the responses guys!!! ... @ JaymzSS... haha thanks for the tip but trust me it's cool man...My so called "girlfriend" and I have been together for about 8 years, We have a 4 year old boy and our new babygirl will be arriving next month...She keeps asking me when I'm finally gonna man up and marry her and I tell her she has to wait 'till the 10 year anniversary so it can make our wedding "extra special"...lol...so that still gives me two years of being a free man...lol...but seriously we will be married sometime in the near future Thanks again guys for all of the advice...I will def be looking to get the home warranty as well as the home inspection and hopefullly not be pressured into making any serious mistakes... @ Black2003SS, thanks for the long list of Info...If i have any questions i'll be sure to let you know... Congrats, and again good luck ! Quote Link to comment Share on other sites More sharing options...
SSThunder Posted February 5, 2010 Report Share Posted February 5, 2010 Home Inspection like everybody else said is crucial. I got mine free because my realtor is a friend of mine and he worked his magic. I would look at all homes even bank repos. My ex got her house that way and ended up with $40K in instant equity. She did have to repair a busted water pipe but that was about it. she refinanced month later and took cash out to remodel the house and it looks a 1000 times better. she also turned what I call a shack into a 2 car garage. Take your time and find the house you really want and can afford. Don't go balls out on your first house. Most times you end up selling in 5 years or so. In that time though you can add things that will increase the value of the house and walk away with some $$$$$$. Make sure to check out lots of banks. I found one(BB&T) that did a loan based of income and got me a 97% loan so I didn't have to put much down. Seller bought the house to make money but ended up losing money because market crashed on him. Good for me bad for him. House is in a great location so I should be able to make money when I decide to move on. good luck on your first house!! Quote Link to comment Share on other sites More sharing options...
CenWaSS Posted February 6, 2010 Report Share Posted February 6, 2010 Basically, put to use all the info that has been provided. The only thing I would add is search your county's GIS Map (thats what its called in my county) and it will provide some valuable info on the home ie taxes, appraised value, amount/names of owners/sellers, etc, etc. One more thing I would add is DO NOT purchase the most exspensive home in the neighborhood, as the big house in the hood typically carries the value of the other homes. Depends on preference, but single story homes typically sell for more $ per sq/ft then do 2 story homes. On the other hand when your buying, you'll get more sq/ft for the $...again its your preference as I buy with the intent to sell. I use the above basic techniques as I like to buy and sell every 3 to 5 yrs and these little rules have allowed me some nice returns on my investments. Good Luck Quote Link to comment Share on other sites More sharing options...
Joser Posted June 16, 2010 Author Report Share Posted June 16, 2010 (edited) Hey guys just wanted to give you an update on this topic...Just got word yesterday from our LO that our Home loan has gone through and we're ready to close the deal!!! It was an exciting but mostly nerve wracking process and I'm glad to say that it's almost over. The day our our offer was accepted I was so damn nervous(but also glad) that I had to take the next day off from work cause I was up all night and couldn't sleep... lol So I just want to say thanks to everyone for the advice and also much props to *Black2003SS* for answering all of my loan questions in detail...that helped me out big time... if you guys have any advice on any last minute things I should get done that would be great...Thanks Edited June 16, 2010 by SSinThaNorthWest (see edit history) Quote Link to comment Share on other sites More sharing options...
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