Buying my first house (hopefully)

**Eric Perry** · #1 09-30-2008, 09:26 PM

Hey all.... I just found out that my bid was accepted on a house I *really* like in South Aurora, CO. I've been pre-approved for the mortgage, and the lender seems to think getting the real mortgage shouldn't be an issue. Who has some good advice for someone buying his first home? Any info at ALL (even if it sounds trivial) will be very much appreciated!

Here's some pics of the place in question... All of the pics are here.

fitbass3p · #2 09-30-2008, 09:34 PM

Wow, that's nice...it's not a lot a square feet (read: low maintenance), but the layout makes almost perfect use of the space. I REALLY like the way the space is divided.

Congrats.

P.S. I haven't bought a house before, or I'd try to help you out in that regard.

**Eric Perry** · #3 09-30-2008, 09:42 PM

Quote:

Originally Posted by fitbass3p

Wow, that's nice...it's not a lot a square feet (read: low maintenance), but the layout makes almost perfect use of the space. I REALLY like the way the space is divided.

Congrats.

P.S. I haven't bought a house before, or I'd try to help you out in that regard.

Thanks! It's definitely on the smaller side, but like you, I absolutely love the layout. This pic really shows how small it is...

iamthebassplayr · #4 09-30-2008, 09:43 PM

Big back yard, you can build a small studio

If of course, you can't find any other use out of it!

**Eric Perry** · #5 09-30-2008, 09:47 PM

Quote:

Originally Posted by Kevin Myers

Big back yard, you can build a small studio

If of course, you can't find any other use out of it!

It is a great yard. Side-side view:

**MAJOR METAL** · #6 09-30-2008, 10:35 PM

How many non human animals would you want to have in that house Eric ?

Geddyfleaharris · #7 10-01-2008, 06:28 AM

Lot bigger than my first house. Nice back yard. Needs a pool.

Then pool babes will hang around all the time. Trust me....my brother put a pool in at his place this year and it really is a girl magnet.

**Eric Perry** · #8 10-01-2008, 07:19 AM

Quote:

Originally Posted by MAJOR METAL

How many non human animals would you want to have in that house Eric ?

At least one dog. I've always wanted a Greyhound. Maybe now's my time!

Quote:

Originally Posted by Geddyfleaharris

Lot bigger than my first house. Nice back yard. Needs a pool.

Then pool babes will hang around all the time. Trust me....my brother put a pool in at his place this year and it really is a girl magnet.

Dude, I'd LOVE a pool. I'd never do an above ground, and in-grounds are WAY too expensive, now that I'm gonna be mortgage bound!

Brad Johnson · #9 10-01-2008, 08:00 AM

Make sure you get everything in writing, particularly the mortgage details, beforehand and makes sure that EVERY question you have is answered to your satisfaction. There are no dumb questions, especially if they can come back and bite you later on. Congrats and good luck.

Chriss62 · #10 10-01-2008, 08:06 AM

I LOVE Split Level homes.

Major Congratulations!!

Deacon_Blues · #11 10-01-2008, 08:10 AM

Quote:

Originally Posted by fitbass3p

Wow, that's nice...it's not a lot a square feet (read: low maintenance), but the layout makes almost perfect use of the space. I REALLY like the way the space is divided.

Small?

Ok, US standards. A normal house here for a 4-person family is 150-200 m²...

My addition to the thread is that it's of the highest importance to have all papers in order and make sure you know about every single fault the house might have. Also get copies of the house drawings so you can control that the reported number of square feet is correct.

My uncle bought a house with severe moisture damages without knowing about them until after they moved in (result: twice more expensive house). A workmate bought a house 5 years ago and is now selling it, and noticed previous owner didn't report the area correctly. In at least this latter case, there was no real estate agent involved.

I'm just telling you this because it's worth being extra careful when buying houses. A good, acknowledged real estate agent is the safest way to go. They know the laws, make sure the price is right and know how these things should be handled...

Anyway, good luck with the new house, if you decide to get it. Looks like a really nice one.

fitbass3p · #12 10-01-2008, 08:25 AM

Quote:

Originally Posted by Deacon_Blues

Small?

Ok, US standards. A normal house here for a 4-person family is 150-200 m²...

My addition to the thread is that it's of the highest importance to have all papers in order and make sure you know about every single fault the house might have. Also get copies of the house drawings so you can control that the reported number of square feet is correct.

My uncle bought a house with severe moisture damages without knowing about them until after they moved in (result: twice more expensive house). A workmate bought a house 5 years ago and is now selling it, and noticed previous owner didn't report the area correctly. In at least this latter case, there was no real estate agent involved.

I'm just telling you this because it's worth being extra careful when buying houses. A good, acknowledged real estate agent is the safest way to go. They know the laws, make sure the price is right and know how these things should be handled...

Anyway, good luck with the new house, if you decide to get it. Looks like a really nice one.

150 square metres is bigger than Eric's house. 200 square metres is significantly bigger than his house. From what he said in another thread, that house is about 127 square metres. So by "US standards," it is a small house.

tycobb73 · #13 10-01-2008, 08:37 AM

The biggest thing is the mortgage. How many years is it? What is the interestest rate? Is the interest rate fixed or is it an ARM? Are you putting 20% down to avoid PMI? You definatley want a 30 year fixed and best case scenerio would be 20% down.

MJ5150 · #14 10-01-2008, 09:52 AM

Hire, and pay for out of your pocket, a professional to do a home inspection. Don't let the seller show you a home inspection they had done recently. Make sure the guy you hire goes under the house and in the attic. You may even want to have a pest inspection done.

This is a good time in your life to be ultra picky and critical of anything that doesn't seem or look quite right for any reason. Don't go overboard though, like forcing the seller to cover the price of replacing a doorknob in the bathroom.

-Mike

Tsal · #15 10-01-2008, 09:59 AM

Looks good to me, nice layout. The backyard is a bit blank, but it has a lot of opportunities, so I'd throw a bit of extra dough on it to make it extra nice. It just screams for a large terrace with proper cooking facilities.

DWBass · #16 10-01-2008, 10:08 AM

First thing first.................do NOT get a ARM Mortgage! Take advantage of every first home buyers programs available to you! Make sure the house is spotless before the closing. Make sure everything they own and WANT is out of the house before closing or it's yours! GET A HOME INSPECTION! It's worth every frikkin' dollar!

Lastly...........that's a damn nice house! I wish I would have kept looking instead of settling on mine! I hate my house!

EricF · #17 10-01-2008, 10:17 AM

Nice, Eric! The layout really makes use of the space extremely well, and looks like it will live bigger than the square fottage would indicate (if that makes sense). I hope everything goes smoothly during the rest of the deal.

On to the important question...will your gerbil have its own room?

MakiSupaStar · #18 10-01-2008, 10:24 AM

Lemmiewinks will like it. Poor little guy.

So party at your house when I cruise into town.

Georynn · #19 10-01-2008, 10:28 AM

Looks nice! But it definitely needs a grill in the back yard...

+1 on the independent home inspector, pest control inspector.

I own a couple of houses, and I have a home inspector that I know, and trust, who's more picky than me... he cought a few things that I would have overlooked.

Write all of those little things down and bring up the punch list before the closing, usually if the seller is motivated, they will fix most or all of the items on the punch list. Don't be unreasonable though, let tiny cosmetic things go, unless they are really bad...

You can usually read from how the seller addresses the issues how badly they want to sell the house...

Good luck...

pointbass · #20 10-01-2008, 11:00 AM

Eric, good for you, man

Relocation, new day gig, buying a house .... man, you're actually becoming a responsible adult!

Seriously, it's all very cool and sounds like you have a lot of good stuff going your way! The house looks great, and don't discount the storage available in the garage when calculating floor space. You'll love being able to back up to the garage and dumping your gear without having to drag it up a flight of steps

And I'll echo a lot of the above comments ..... independent home inspector of your choosing is a must, a sensible fixed rate mortgage, remember to calculate your taxes & insurance for meeting the monthly nut, make sure they clear out EVERYTHING before you move it, and get prepared for repairs/replacements during the first few years

Very cool, I'm glad for you .......