House Hunting Tips Please!

[OxmanWI]

First time buyer with VA loan and 1st credit. I got preapproved on Tuesday and we are going to look at 6 houses tomorrow with our Shorewest agent. Any tips or things to look for while out in the field? What kind of questions would you veterans ask? Any help is appreciated!

Thank you BCM,

Josh

[nismodave]

www.realtor.com How we found our place.

[team beater]

1. Just cause your approved for x amount of dollars don't spend that, spend what 1 of you can manage. 30 years is a long time(most move to their next house within 5-10 but still a long time), one of you will probably be unemployed at some point. And who wants to dig into savings or investments to pay the mortgage. Plus if you stretch your self thin, you wont have money to enjoy life in your new house.
2. Do your shopping, use the internet, and compare lots of houses, just cause the housing market is slow doesn't mean people are realistic about what there house is worth. You can find GREAT deals if you look and you know what a great deal looks like. Forclosures can get you a steal, and give you more negotiating room sometimes.
3. Don't just look at the price, look at what other costs will be involved prior to you selling(roof, windows,siding, kitchen etc.) Its important to factor these things in as when you go to sell to get something bigger as most do, you want to make money. Remember its costs roughly 6% to sell so if you dump a ton of money into it you eat away at your next down payment.
4. If you find something you like, try and meet some of the neighbors and do research on the community or neighborhood(crime, schools, median income, rental properties vs ownership) just cause you love the house doesnt mean its a good buy. A great house can be ruined by those shitty neighbors or the apt complex 2 blocks away.
5. Lastly try not to yet your emotions or your spouses emotions get in the way of being logical.

My .02 hope it helps

[pOrk]

Don't depend on your realtor to find houses for you, 90% of realtors don't listen to a damn think you ask for when looking at houses and will show you what they want to show you.

Learned that part by experience, went through 4 realtors before finding the one I used.

[jbiscuit]

^ pork is right on the money here. Most realtors don't care what u are looking for in a house. They just want you to buy something quickly. We looked at close to 100 homes prior to buying. Be prepared to see a lot of junk homes for big money too. Houses are way overpriced in SE WI overall for what u get. Like others have said, look for a deal. Sweat equity goes a long ways and you learn along the way too. Good luck

[Russ Jerome]

My first concern would be your realtors qualifications, with Shorewest you have first rate sellers/buyers like Coleen Kutchka but on the other end world class failures like Nicole Mourn....research you realtor. Both work for same company but the results are night and day.

It took me 8 months to buy my house, "I" had to make it happen and not the selling realtor. Probably the most trying and irretating thing I have ever been thru and I have been thru hell early in my life.

[buttersgt350]

dont buy a house on a corner by a stop sign, you will have cars taking off in front of your house all the time, that can get loud. dont buy a house with a bus stop in front of it. you can go to family watch dog .com to see what kind of criminals live in your neighborhood. good luck.

[05caddyext]

First time home-buyer 8k credit has expired. Sorry.

[Nix]

Build, that's what the wife and I did 3 years ago. That way there are no suprises.

[Russ Jerome]

With the market as it is I got a huge wooded and fenced lot with newer everything for 126k, previously sold for 189k. Not liking the city I couldnt be happier living at the corner of 94 and 894, shoot a rifle and my neigbors wouldnt call anybody.

"insert image of huge deck and wooded background here, off freeway"

Google the hell outa the the address, city assesments and updates planned, crime and anthing else you can think of.

[OxmanWI]

Wow thank you for all the great replies, we really appreciate it. If you guys have anything more let me know. Thank you.

[Old Dog]

I've been involved in real estate for 25+ years and my personal rule #1 is DO NOT TRUST ANYONE IN THE BUSINESS. Both the seller and Realtor have their best interest in mind. The Realtor only gets paid if you buy a house, so that will be his/her main goal.
As far as the deal itself, I always use a lawyer to write the offer. My lawyer charges around $300 for the whole deal. Probably best to have the house inspected as part of the offer to purchase. Be careful, lots of clowns became house inspectors when the market was hot. I would only use an inspector that was referred to me by someone I trust.
When you find a house you like, I would be most concerned with 1) basement/foundation, as this is most expensive to repair. 2) furnace/AC 3) Mold 4) roof. This is where your most costly repairs will be. A lot of people focus on the color of the house or rooms and this is the cheapest thing to change. Good luck.

[OxmanWI]

First time home-buyer 8k credit has expired. Sorry.

Military extension to 2011

[Plum Crazy]

First time buyer with VA loan and 1st credit. I got preapproved on Tuesday and we are going to look at 6 houses tomorrow with our Shorewest agent. Any tips or things to look for while out in the field? What kind of questions would you veterans ask? Any help is appreciated!

Thank you BCM,

Josh

Buy My House!!!!


http://www.shorewest.com/homes/11404...-WI-53405-2926

[0TransAm0]

when you go to look at a house imagine it empty with NO furniture or decorations..

[awsomeears]

Ive said this before in many other threads....

When you think you found the home of your Wet Dreams hire 5 or so contractors to inspect the Basement,HVAC,Plumbing,Carpenter,Electrician and hell a Good inspector that has Legal Insurance on his ass........

I used to say no Inspector but my tune has changed because of the Legal Stand point.....

Also inspect the home right after a Wicked Storm !!!!!! You will beable to see lots of different situations pop up. If not SWEEEET !

[jbiscuit]

A tip my uncle told me too... Schedule your inspection or ask to look at the house again with your contractor friends the day after a hard rain at 3pm. You'll nail two birds this way: you'll be able to spot water issues in the basement (lots of WI homes have foundation/basement water problems.) And you'll see exactly how many kids are in your neighborhood. My cousin bough a $400k house in Franklin in the winter. Bad idea. Once summer hit, there is nothing short of 100 kids on his block playing and riding bikes in the street, in his yard etc. Might as well live on a playground. Friends don't like getting their nice cars hit with baseballs and big wheels!

[xxsn0blindxx]

You can find out the energy usage by calling WE energies. Just give them the address and they will tell you the monthly average cost. You'd be surprised how big the difference can be between two houses.

[Gregor]

when we bought our home our Realtor was a idiot and only sold us homes that he want to sell us. Invest in a good one. Get a few inspectors to look over the home. Use the problems to rip the sellers a new one on the price.

I agree with the don't spend your max, nothing worse than being house poor.

[MurphysLaw88GT]

When you find a house you like, I would be most concerned with 1) basement/foundation, as this is most expensive to repair. 2) furnace/AC 3) Mold 4) roof. This is where your most costly repairs will be. A lot of people focus on the color of the house or rooms and this is the cheapest thing to change. Good luck.