Author Topic: Went through the process of house hunting/buying  (Read 19767 times)

Offline Ergel

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Re: Went through the process of house hunting/buying
« Reply #15 on: May 13, 2013, 12:24:37 PM »
Believe it or not.
Something you can't get in Canada.
wasn't looking for it
Life isn't about checking the boxes. Nobody cares.

Offline meshugener

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Re: Went through the process of house hunting/buying
« Reply #16 on: May 13, 2013, 12:26:53 PM »
Funny you.
Love me or hate me. I still love you.

Offline Sammy82

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Re: Went through the process of house hunting/buying
« Reply #17 on: May 13, 2013, 04:10:02 PM »
:D

A good home inspector is invaluable.  Ours cost $200 but saved us $5K.
$200?!? I paid $425 here in NY and I'm told that is on the lower end. Wow! the cost of living here

Offline Dan

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Re: Went through the process of house hunting/buying
« Reply #18 on: May 13, 2013, 04:16:11 PM »
Well when houses start at 100k instead of 600k...
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline robi

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Re: Went through the process of house hunting/buying
« Reply #19 on: May 13, 2013, 06:14:40 PM »
Believe it or not.
Something you can't get in Canada.
maybe, but if your interested in playing that game, Canada is way more profitable
"I'd rather be hated for who I am, then loved for who I'm not"

Online SPLP

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Re: Went through the process of house hunting/buying
« Reply #20 on: May 14, 2013, 03:38:14 PM »
$200?!? I paid $425 here in NY and I'm told that is on the lower end. Wow! the cost of living here

When the inspection is done --follow  him along when he inspects -- do not just get the  verbal or wait for written--- i always ask for a copy of a old report he has done  before i hire , i do this so that i can understand what he will do and not do

Offline ckmk47

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Re: Went through the process of house hunting/buying
« Reply #21 on: May 17, 2013, 03:47:22 AM »
Shopping for a mortgage:  Do the math.
Compare both percentage and monthly payments for 15 year, 20,30.  Don't just notice that the monthly payment is lower with a longer term.

also 'points'.  If you plan on staying in the house longer than a few years it often pays to 'buy down' the rate by paying up front 'points'. If you have the money available.  But leave enough cash for renovations you may want.

Online skyguy918

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Re: Went through the process of house hunting/buying
« Reply #22 on: May 17, 2013, 12:24:57 PM »
When the inspection is done --follow  him along when he inspects -- do not just get the  verbal or wait for written--- i always ask for a copy of a old report he has done  before i hire , i do this so that i can understand what he will do and not do
+1000000. I walked through a house we were interested in with the engineer. He basically didn't find any significant problems, but I thought it was invaluable (besides the peace of mind as to the condition of the house) because he explained all sorts of things about the house, where everything is, what everything does, etc. Unfortunately, the seller ended up balking during contract negotiations, so it's on to the next house for us.

Shopping for a mortgage:  Do the math.
Compare both percentage and monthly payments for 15 year, 20,30.  Don't just notice that the monthly payment is lower with a longer term.

also 'points'.  If you plan on staying in the house longer than a few years it often pays to 'buy down' the rate by paying up front 'points'. If you have the money available.  But leave enough cash for renovations you may want.

These are all very good points, but very often the statement I bolded is the primary consideration. You either need the money if we're talking about points, or the steady income if we're talking about the term of the mortgage. If you can't comfortably cover the monthly payment for a 15 or 20 year mortgage within the context of the rest of your budget then you're going to go with 30, period.

Offline bzam99

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Re: Went through the process of house hunting/buying
« Reply #23 on: May 17, 2013, 12:34:34 PM »
I was told by a mortgage broker that every 10k you pay (he was talking in the context of above 20% downpayment) is 45$ off monthly bill.

Offline Ergel

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Re: Went through the process of house hunting/buying
« Reply #24 on: May 17, 2013, 12:40:07 PM »
I was told by a mortgage broker that every 10k you pay (he was talking in the context of above 20% downpayment) is 45$ off monthly bill.
I was told you can easily and accurately calculate these things with any mortgage calculator easily available online
Life isn't about checking the boxes. Nobody cares.

Offline satturn

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Re: Went through the process of house hunting/buying
« Reply #25 on: May 19, 2013, 03:14:33 AM »
anyone know of a mortgage calculator that works with a loan that is broken down into 3 different interest rates and 3 different loan amounts? In israel it is not just one rate- its multiple rates- each one for a different section of the loan - that would give me the average interest amount?

Offline Saver2000

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Re: Went through the process of house hunting/buying
« Reply #26 on: May 19, 2013, 03:29:50 AM »
anyone know of a mortgage calculator that works with a loan that is broken down into 3 different interest rates and 3 different loan amounts? In israel it is not just one rate- its multiple rates- each one for a different section of the loan - that would give me the average interest amount?
Didn't check through all the calculators on this site, so i'm not sure if  has what you're looking for. . .
http://mortgagemavin.com/

Offline Deal Guy

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Re: Went through the process of house hunting/buying
« Reply #27 on: May 19, 2013, 03:39:45 AM »
Is a home inspector necessary/worth it for a new construction?

Offline Saver2000

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Re: Went through the process of house hunting/buying
« Reply #28 on: May 19, 2013, 04:01:21 AM »
Is a home inspector necessary/worth it for a new construction?
In my town you need a "CO" (Certificate of occupancy) in order to live in the house.
To get a CO, it township inspector needs to inspect the house and make sure everything is safe/was done up to code.

Not sure if that's the same thing that a home inspector does. . .

Online SPLP

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Re: Went through the process of house hunting/buying
« Reply #29 on: May 19, 2013, 04:04:45 AM »
Is a home inspector necessary/worth it for a new construction?

I would spend for the inspection , you bought with a specified quality by the  builder ( materials and workmanship ), because a town gives a C.O. does not mean  you got what u are paying for -- like any industry , many ways to "skin a cat" -- do u think Donald Trump puts his faith in a CO ---P.S. do not get me wrong  D.T. is not one of my favorites

also I want to have someone who works "for me" tell me on my biggest purchase --all O.K. 
« Last Edit: May 19, 2013, 04:11:12 AM by SPLP »