UnThreaded | Threaded | Whole Thread (38) | Ignore Thread Prev | Next
Author: kalarson Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127472  
Subject: Re: What to look for in home - Have 1 shot Date: 5/15/2001 5:44 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
Ok, I did a "whirlwind" househunting trip myself several years ago. I saw 17 properties the first day, returned on day 2 to look at 6 finalists, and made an offer the following morning.

One suggestion (besides those already mentioned) I'd have relates to the "how much house you can afford" question. In my move, I got a big salary increase and I was so excited about what the bank told me I could afford. I thought I was being frugal by choosing a house less than that "magic number". Turns out, I felt pinched financially even trying to make those payments while, at the same time, I was making more trips to the mall, going on more vacations, etc. (living above my means all-around). Just something to keep in mind, I should've budgeted.

On the house hunt, be careful to see through surface decor. It was terribly deceiving to me. I was attracted to homes that were decorated the way I like to decorate. Even window treatments that weren't included affected me. A new model home (hiply decorated) by a less-than-reputable builder sold me.....If I'd had more than 2 days to look around, I would've definitely chosen something different.

Try to see yourself making dinner in each house, doing laundry, entertaining, playing with kiddie(s), getting ready, etc. If you have special or oversized furniture, bring measurements & a tape measure. If there is a nasty-colored wallpaper, decide how long you can or will live with it -- or if you'll change things right away.

If you don't have to leave at the crack of dawn the next morning, I'd recommend making the offer Sunday (or even Monday). You'd have a night to sleep on it & hash it over in the hotel. The negotiations can happen via mail/fax -- you don't need to be there. Real esate agents want things to go quickly, but don't be afraid to see properties twice if you need to. It's too important of a decision to be rushed.

(digital cameras are cool for keeping track)
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (38) | Ignore Thread Prev | Next

Announcements

Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement