quote:

Originally posted by creslin:
"mere veteran"
I see how it is guys

Well, I am happy to be a "mere veteran" myself, but not a retired serviceman.

I also agree with going out to meet the neighbors ahead of time. I have always done it and learned a lot about the neighborhood and a little about the previous owners of the property I was considering.

I have never used a lawyer for any of the times I bought/sold houses but have had good lenders and realtors to work with.

Find a picky inspector. One who will point out all the little things that you will miss. Then you can decide which of those are deal breakers or not. Look for the big ticket items that are hard to change or repair. For example water damage and the resultant mold can be incredibly problematic and expensive to fix. Same with electrical work not done to code (outlets not properly grounded, etc). Things like bad wallpaper, paint color, old carpets, etc. are certainly turnoffs but they are all relatively easy to address in the future as you update the place to your liking.

Don't assume a newer house is better than an older one. My current house was built in 1995 and is rock solid. So many things were clearly done the right way by the original owner who had it built. We had looked at some houses built in 2005 and it was amazing how cheaply they were built. They were still expensive, and looked nice on the surface, but overall used shoddy practices. Rotting soffits as the shingles were just overhung instead of using edge trim, wood floors that were only 1/4" thick, lacking fresh air returns, really cheap windows that were already needing replacement, etc.

If you think you will be selling anytime soon look for an established high demand area that doesn't have new houses being built around it every day. It's very difficult to sell a house that's a few years old when there are brand new ones down the street that the builder can discount to move inventory.

Get much more basement and garage space then you think you will need for storage and hobbies. Adding on more garage space is never cheap and typically difficult to get your money back out of when you sell the house as a majority of buyers don't care about a bunch of extra garage space.

Getting a 1-year home warranty included with the contract helps minimize risks but they are a pain in the ass to deal with. They will do everything possible to deny a claim and will hire the cheapest contractor they can find. Most warranties do not cover septic or wells unless specifically added. So don't assume the warranty has you covered. Plan to have some savings set aside for expensive items that may come up in the first few years like a furnace, A/C, water heater, windows, etc if they become problems.

If you are living in a rural area look at getting a whole home generator and put it into the budget. Ask the neighbors how often the power goes out and for how long. That will determine how high on your priority list it needs to go. The lesser populated areas usually get fixed last when a big storm knocks out power to big areas. With a well no power=no water and I don't think a typical portable Honda generator will run a well pump.

Find out what's going on with the schools in your tax district. School taxes make up the biggest portion of property taxes that I pay. If it's a growing district that will only increase as they add more and more schools. When my uncle built his home in the mid 80's they only had 3 schools in his district. Now they have 25 and his tax bill has grown exponentially as you can imagine.

Structural integrity...cracking, sagging or buckling, roofing, major utility systems, bats/pest the nfestation. Thermal camera shows a lot as does UV light if you have access. If the structure is sound everything else can be fixed.

look at the house and land in every environment you can; rainy, sunny, dusk, midday, night, snow, etc.

You may find that it turns to a swamp during the slightest drizzle, or that there are lights as bright as the sun from the neighbors, or the noise from the Friday night football games is unbearable, or you're right under a flight path for cargo planes at night, etc.

+1 on meeting the potential neighbors.

+1 of water testing

Inspect the bejesszus out of it. Foundation/roof repairs are not cheap.

Imagine doing daily chores in the house. Extreme example: You don't want to unload groceries and have to walk upstairs through a bedroom and down a hall to put food away in the kitchen.

+1 don't go to a big bank for a loan

Don't fall in love with anything until you look at at least 10-20 houses. Don't be in a rush. M
Make sure the realtor isn't the same one that is listing the house, they represent the seller. Shop for a realtor because a good one or a bad one can make a big difference.
Look at properties you are considering on Google Earth and see whats around them.
Look at any deed restrictions carefully.
Pay for or have the seller pay for a new survey.
Have the well checked and the septic tank pumped and the field inspected.
Find and use a good home inspector. You want the one the realtors don't like.
Make sure you have the funds to do all these things in addition to buying the house.
Using a local lender so you can use your own preferred closing attorney. Big banks and online lenders will try to insist you use the one they specify.

I would look into the title insurance.

https://en.wikipedia.org/wiki/Title_insurance

quote:

Originally posted by creslin:
Financing should not be too big an issue.
I'm a veteran so I qualify for a VA loan.
That's what the appt with the bank on Saturday is for - to discuss that.

Interesting ideas about a lawyer. I've never heard of pulling one in for home buying.
We have a pre-paid lawyer thing at work which I think I'm part of. I'll have to poke at it and see what can be done.

I used my prepaid lawyer for contract, title, and closing on my loan.

Lots of good advice.

Well/septic are big concerns, leaks are too. At that age it's likely due for HVAC, Roof, and HWH make sure they have been replaced recently or you will likely need all three in short order.

If you're getting a loan you will need to get the property surveyed. I would highly recommend getting a home inspector to inspect it. You will probably need a home inspection for insurance anyways with most insurers (we need them in FL to get coverage). I have bought several properties without a lawyer but am fairly well versed on how things go. A lawyer shouldn't cost too much, get one that specializes in real estate, in your county if possible as things are totally different from state to state, and sometimes even from county to county. $500 to have a lawyer look over everything sometimes can be money extremely well spent.