Home buying advice?

[corax]

I'm currently in maximum overdrive research mode reading up on everything Real Estate I can since me and the wife finally found a piece of property we'd be willing to abandon the RV for (first time home buyers). So I was wondering if anyone can offer some good advice on some of the common pitfalls to watch out for (obviously, no ARMs). We don't have a whole lot of money to put down (much was spent coming cross country and trying to save our puppy), so that's one issue, though some family has offered to help if needed (we will have a PMI). It's in the middle of nowhere, but 10 minutes from a major highway and 20 minutes from the nearest smallish city - so the perfect blend for us of close, but not too close. The A-frame is smallish (890 sq ft), but with no plans of having kids (ever) that is no problem, besides, it comes with 3.5 acres a 2 car garage (dirt floor), sauna and a jacuzzi overlooking a fast flowing stream (3-4 ft below foundation level), and an artesian spring (water just bubbling out of the ground, for the Western/dry-land folk)

the A Frame (insulated, built in 1980)
http://i280.photobucket.com/albums/kk171/batardsalamano/100_2890.jpg
hot tub overlooking the stream
http://i280.photobucket.com/albums/kk171/batardsalamano/100_2855.jpg
can you see the house . . . exactly :thumbup:
http://i280.photobucket.com/albums/kk171/batardsalamano/100_2888.jpg

We need to have it inspected yet, but already know it needs a little work - upstairs windows (2 casement), some minor exterior board replacement (wood rot, but nothing structural), clean the roof (though it was replaced 5 years ago) - the current owner's live in Manhattan and were using it (very infrequently by the looks of it) as a weekend getaway.

[Nick]

I can't contribute any useful answers, but...I love the location. Beautiful. Probably really lovely in the summer; shady with the stream and all.

[DHC6twinotter]

I can't contribute much either, but I just got to say that is an awesome piece of property!

Is that wooden bridge the only access to your house? Will it support the weight of your RV? We took a chevy conversion van across a small wooden bridge during a vacation a few years ago. We broke a few of the boards. :hillbill:

Only thing I want to avoid when I buy a house is HOA, but it doesn't look like you have to worry about that. :D

[tulsa_sr5]

man that looks great! I don't think it's a huge concern for you, but just in case a-frames typically are tougher to sell, and will sell at a lower price per sq ft than more standard construction. Personally I like them, and would buy one as long as the price was right. Especially one on land like that.

[habanero]

Guess you won't have to check the place out at night for light pollution!

[Erich_870]

We just bought our first home a year and a half ago, so I can imagine your excitement and trepidation at the whole process :hillbill:

My first suggestion is to hire the best home inspector you can. You may have to spend a couple hundred bucks more, but you really want someone who knows what they are doing and where to look for deal breaking issues. Don't let the excitement of new dreams get in the way of a thorough and honest inspection. If your not afraid of a fixer upper than the engineers report can serve as a how-to list to improve your property value. Our home inspector was very detailed in what to do to fix the problems he found, so it was almost like being on a home repair TV show that made you do all your own work :spit:

Secondly, get a copy of the property deed or as-built and make sure what you "think" you are buying is really what you get! It's scary how often sellers and realtors don't know the actual property boundaries. You can get them from the seller or the county. This is especially important when the property isn't bounded by fences on all sides. You also want to know if there are utility easements, right of ways or other restrictions on the property.

The property looks cool! I look forward to hearing more about your process.

Erich

[corax]

Is that wooden bridge the only access to your house? Will it support the weight of your RV? We took a chevy conversion van across a small wooden bridge during a vacation a few years ago. We broke a few of the boards. :hillbill:

Only thing I want to avoid when I buy a house is HOA, but it doesn't look like you have to worry about that. :D


It probably would support all kinds of weight - 12" I beams underneath with railroad ties for the surface - but I think the edge boards may be too narrow for the RV to get through anyway . . . . and yeah, no HOA's so I can put my Mustang up on cinder blocks and use the toilet as a planter :hillbill:



man that looks great! I don't think it's a huge concern for you, but just in case a-frames typically are tougher to sell, and will sell at a lower price per sq ft than more standard construction. Personally I like them, and would buy one as long as the price was right. Especially one on land like that.


Resale is actually one of my concerns, because it is cozy by most people's standards, and is only 1 bedroom (loft), but I'm not going to let it bother me too much



My first suggestion is to hire the best home inspector you can. You may have to spend a couple hundred bucks more, but you really want someone who knows what they are doing and where to look for deal breaking issues. Don't let the excitement of new dreams get in the way of a thorough and honest inspection. If your not afraid of a fixer upper than the engineers report can serve as a how-to list to improve your property value. Our home inspector was very detailed in what to do to fix the problems he found, so it was almost like being on a home repair TV show that made you do all your own work :spit:

Secondly, get a copy of the property deed or as-built and make sure what you "think" you are buying is really what you get! It's scary how often sellers and realtors don't know the actual property boundaries. You can get them from the seller or the county. This is especially important when the property isn't bounded by fences on all sides. You also want to know if there are utility easements, right of ways or other restrictions on the property.



That bit about the property deed is good . . . I just did a quick search and read all kinds of horror stories about people inadvertently buildng on land that's not theirs. Definately going to take a trip to the county office.

[YotaFun]

IF you get it I will more then happy to come over and help you out if fixing some stuff up :-)

however my help comes in the form of bringing a lawn chair and assume a "management" position :P

[corax]

however my help comes in the form of bringing a lawn chair and assume a "management" position :P


That's a shame because only peeps that help get to use the hot-tub and drink the dark beer (Old Milwaukee for everyone else :flipoff:). . .

[YotaFun]

however my help comes in the form of bringing a lawn chair and assume a "management" position :P


That's a shame because only peeps that help get to use the hot-tub and drink the dark beer (Old Milwaukee for everyone else :flipoff:). . .


oh thats just mean!
lol

nah, after helping out stepdad and mom clean up our house and the house in VA, I have more then enough experience to help out lol

[Small_words]

Bought 4 houses (love the site by the way)
- Confirm boundaries
- Get home inspection & go with the guy (look for things like seams, dirt, recent paint, same principle as buying a car)
-- 3 layers of shingles are usually max for roof and if not redone in last 10 yrs
you're going to need a new one (especially with water/shade for mold to grow)
-- Age of furnace/AC (older than 8 yrs and should still work, but probably cost
effective to replace it
-- Age of hot water heater (same as above)- get a bucket and drain a bit of water
into it (if well taken care of shouldn't have much rust in it)
-- Check door corners for evidence of cracking (house will settle, but not badly or
recently)
-- Check insulation under 1st floor and in attic (HVAC should be insulated as well)
-- How organized and modern does the fuse box look? (Old and spliced or new?)
-- Run the faucets, showers, and flush the toilets a LOT, then check crawl space
for leaks
-- How expensive is flood insurance
- Move the furniture around and look for things it was hiding
- Check unused areas, like the back of a closet for mouse turds

That's all I can think of. Good luck Keith

[corax]

just made an offer . . . we'll see if the owner's take to it

[YotaFun]

Sweet!
Good luck,
I will start getting the trailer ready for clean up :-)