Buying A House
This sure isn't like they show on the commercials. Everyone just walks up smiling with their realtor, goes "Hey, dream house. Right on." Sign some papers and everyone's awesome.
We've looked at probably 60 houses now. Had two that we actually put offers on. Both had everything we were looking for: 3 bedrooms, two baths (or in the case of the first one, a nice room we could easily turn into a bath), good sized living rooms, lots of space, good neighbourhoods. Then we did something that apparently not enough people do: got a home inspection.
THANK GOOD GAWD WE DID THAT!
Each of the houses needed around $12-$15K in work done. The first one, the guy had done all these renos himself. When we went through without the weed goggles (first look, everything is all wow man, that's cool, that's neat; thus, weed goggles), our super awesome inspector Ray started showing me the issues with the owner's work. It literally looked like JohnnieH and I got hammered and decided to watch some YouTube videos on how to build a roof and do wiring, then did some crack and actually did the roof and wiring.
The second one has a furnace and central air unit that should be going off to college. Once we replace the a/c unit, it has to get upgraded to high efficiency and get extra safety measures put in that will cost even more than a normal installation. Oh, and there was something larger than a house cat living in the roof of the addition as we found large droppings and the insulation was all torn apart.
I'm about ready to throw in the towel and just live in a van down by the river. Thankfully, found about 15 more houses worth looking at in our price range. I have faith that the next inspection we get, that's going to be the house. First inspection, we didn't stay more than 45 minutes, it was that bad. Second one, we got through the whole house. Next time, we'll not only get through the whole house, but it'll be the right one.
Just wanted to share my struggles. Please feel free to post your own hilariously bad house hunting stories.
Oh, I didn't even mention some of the ones we looked at and how bad they were. One was clearly a grow op that the guy took off and the bank seized. Unreal.
We've looked at probably 60 houses now. Had two that we actually put offers on. Both had everything we were looking for: 3 bedrooms, two baths (or in the case of the first one, a nice room we could easily turn into a bath), good sized living rooms, lots of space, good neighbourhoods. Then we did something that apparently not enough people do: got a home inspection.
THANK GOOD GAWD WE DID THAT!
Each of the houses needed around $12-$15K in work done. The first one, the guy had done all these renos himself. When we went through without the weed goggles (first look, everything is all wow man, that's cool, that's neat; thus, weed goggles), our super awesome inspector Ray started showing me the issues with the owner's work. It literally looked like JohnnieH and I got hammered and decided to watch some YouTube videos on how to build a roof and do wiring, then did some crack and actually did the roof and wiring.
The second one has a furnace and central air unit that should be going off to college. Once we replace the a/c unit, it has to get upgraded to high efficiency and get extra safety measures put in that will cost even more than a normal installation. Oh, and there was something larger than a house cat living in the roof of the addition as we found large droppings and the insulation was all torn apart.
I'm about ready to throw in the towel and just live in a van down by the river. Thankfully, found about 15 more houses worth looking at in our price range. I have faith that the next inspection we get, that's going to be the house. First inspection, we didn't stay more than 45 minutes, it was that bad. Second one, we got through the whole house. Next time, we'll not only get through the whole house, but it'll be the right one.
Just wanted to share my struggles. Please feel free to post your own hilariously bad house hunting stories.
Oh, I didn't even mention some of the ones we looked at and how bad they were. One was clearly a grow op that the guy took off and the bank seized. Unreal.
Comments
All I can say is have loads and loads of patience. Don't fall in love with anything until you're in the lawyers office signing papers. Be aware that you are going to find surprises when you get your home that even the most thorough inspectors won't find. Be prepared in terms of finances and have a line of credit available, or whatever method you choose.
Houses can be money pigs. Our actual house isn't worth a ton and we're fixing it up and improving over time.. but the dirt is worth plenty cause there's lots of it!
What is just as important is to bring your ol lady along or a posh type chick and listen to her complaints like i dont like those curtains or this handle is broken, that duck tape is tacky and so on....
in a well taken care of home you wont have those kinds of things...
you want a home that was owned by a older loving couple with a handyman for the husband..a simple example to look for is whether or not a filter for the hvac is clean....are any taps running etc. Even as simple as are all the curtain rings on for the shower curtain....
if these things arent taken care of then imagine how the owners deal with real issues....hidden issues
the other thing to look for is a shop of any kind...all handymen have a shop even if its just a bench in the garage...
i wouldnt recommend buying any other place...
I have walked away from two houses as a result of the home inspections. First one was because of structural issues (the second floor was collapsing) and the second one again was because of cracks in the foundation wall and structural issues. To me these were major problems that could not be resolved. All the houses/condos (4 so far) I have ever bought had tons of issues in the home inspection report but you have to determine what you can live with or what can be fixed easily.
btw, I consider house #2 to manageable to remedy. You could go back with a reduced price factoring in the cost of a new air conditioner (2-3k) and the insulation is not a major issue IMO. Lots of older homes have visitors every so often.
p.s. - buy Italian and you can't go wrong!
Maintenance is such a big deal when you own a home. It can be a brutal amount of work to look after one and they demand constant attention. Any would-be home buyer really needs to pay close attention to all of those details and also look at whether or not the place has adequate closet space. I didn't do those things and I ended up with major electrical wiring and calgary drywall expenses. The home that is looked after is the only type that is worth buying unless you're a handyman yourself and love doing fix-up work. Unfortunately, well-maintained homes don't tend to be the ones on the market unless you happen to be in a really high income category.
Owning a home has been a learning experience, and I will certainly take your suggestions to heart if I ever buy another place!(!)
And I couldn't believe how nervous I got when waiting for the financing to go through and going to sign the papers. A good chunk of your future is on the line depending on a good decision. It's a lot harder than poker.
Some huge dissappointment coming your way.
Peace out.
Jah, I agree that house #2 was much more remediable (I think that's a word). I was willing to stick with it, but one small thing changed my mind: Alpha said no. As soon as that happened, bye bye house, back to looking
Speaking of moving on...
Awww Troll, I mean Philli, you're such a douche. Go elsewhere to peddle your sorry ass comments that you portray as knowledge elsewhere. Anyone who's paid any attention knows I'm not where I was 6 months ago for work. Also, unemployed for a time was by choice as I had the savings to simply relax for 10 months. Try be a little smarter if you're going to be a wise-ass. I've been preapproved for much much higher than the price range I'm looking for but I'd rather get something I can pay off in 10 years, live well within my means and go on nice vacations each years instead of bleeding myself dry for the next 25 years with no savings or retirement funds. Thanks for coming out, have a good night, see ya!
that is the more correct way to say it...
one of the other points i was going to say is not to buy for the maximum you are approved for....which you aren't ....that little pad in your debt to equity ratio...the amount of credit you can have...can come in handy.
good on you for that.