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Started By
Message
First time home buyer, any tips?
Posted on 5/31/19 at 8:52 pm
Posted on 5/31/19 at 8:52 pm
My wife and I just signed a contract to build a house and it will be done in about 5 months. Wanted to see if you guys had any tips to navigate this process because it's so involved. We've rented for the past 10 years so this is all new to us and it's pretty overwhelming.
10
Posted on 5/31/19 at 9:10 pm to Stonehog
Put enough down to avoid PMI.
Posted on 5/31/19 at 9:18 pm to Stonehog
Read the threads by finchmeister08 and do the exact opposite of whatever he did.
Posted on 5/31/19 at 9:29 pm to CBLSU316
quote:
Put enough down to avoid PMI.
My wife's parents are giving us $35k so we just have to come up with about $5k to do that. We have to be out of our house in two months so we're gonna live with my parents for a few months to save some money. We're getting screwed on rent and utilities right now, our gas bill in the winter is about $300 a month and our rent is $1,100. We just got a letter that the rent is going up to $1,200 so we said frick that.
Posted on 6/1/19 at 8:03 am to Stonehog
It is one of the top stressors in life especially if you are married, it will test your relationship. Communicate openly and be patient with each other.
Custom home or a production home in a neighborhood. The answer to this question will help us guide you.
If you have specific questions let us know. I have built custom homes as well as production homes for a large national builder/developer.
Custom home or a production home in a neighborhood. The answer to this question will help us guide you.
If you have specific questions let us know. I have built custom homes as well as production homes for a large national builder/developer.
Posted on 6/1/19 at 8:23 am to Capital Cajun
quote:
It is one of the top stressors in life especially if you are married, it will test your relationship. Communicate openly and be patient with each other.
Yep good advise
Posted on 6/1/19 at 9:04 am to unclejhim
If you are having to save up to put down $5k, remain incredibly conservative in your plans
Posted on 6/1/19 at 9:18 am to Capital Cajun
quote:
Custom home or a production home in a neighborhood. The answer to this question will help us guide you.
It's a production home but we get to pick out the brick and shingle color, etc. since it's not built yet.
Posted on 6/1/19 at 9:34 am to Stonehog
quote:
My wife and I just signed a contract to build a house
quote:
any tips?
Ask this question prior to signing a contract, next time.
Good luck!
Posted on 6/1/19 at 10:44 am to ItNeverRains
Yeah, I think the time for tips is kind of passed. Still get a good inspector even though the home is new.
Posted on 6/1/19 at 10:58 am to Stonehog
Get a regular door leading out of the garage instead of just the overhead door.
Upgrade all exterior door and window trim to vinyl.
Make sure they haul off all debris from clearing and grading as well as construction debris, alot of times they just bury it on site and sinkholes develop.
If septic tank, upgrade to the easy access caps so getting it regularly serviced doesn't require backhoeing your yard.
However big your deck is, make it a little bit bigger.
Have your AC units on the cooler shadier side of house (North or East).
Upgrade sink in kitchen to extra large, and with garage disposal.
Extra outlets at counter level in kitchen.
If lot has any slope at all, make sure you have plants and mulch all around your house to slow down erosion.
Upgrade all exterior door and window trim to vinyl.
Make sure they haul off all debris from clearing and grading as well as construction debris, alot of times they just bury it on site and sinkholes develop.
If septic tank, upgrade to the easy access caps so getting it regularly serviced doesn't require backhoeing your yard.
However big your deck is, make it a little bit bigger.
Have your AC units on the cooler shadier side of house (North or East).
Upgrade sink in kitchen to extra large, and with garage disposal.
Extra outlets at counter level in kitchen.
If lot has any slope at all, make sure you have plants and mulch all around your house to slow down erosion.
Posted on 6/1/19 at 11:44 am to deeprig9
While good tips, it seems upgrades would be tight with finances given so far
Posted on 6/1/19 at 12:17 pm to NoSaint
If the parents can afford to give him $35k, they can afford to give him 50.
Posted on 6/1/19 at 12:18 pm to deeprig9
A hose faucet on all four sides of house.
Posted on 6/1/19 at 12:20 pm to deeprig9
Pre-wire and pre-plumb basement for future finishing.
Don't let the builder do your landscaping, it will be garbage. Hire your own landscaper.
Install attic fan.
If crawlspace, get vapor barriers and lay plastic all down everywhere on the dirt and put a light fixture(s) down there.
Don't let the builder do your landscaping, it will be garbage. Hire your own landscaper.
Install attic fan.
If crawlspace, get vapor barriers and lay plastic all down everywhere on the dirt and put a light fixture(s) down there.
This post was edited on 6/1/19 at 12:23 pm
Posted on 6/1/19 at 12:29 pm to deeprig9
quote:
hose faucet on all four sides of house.
Absolutely this - I did this when my house was built plus some extra hose bibs and still wish I had more.
Posted on 6/1/19 at 12:41 pm to Stonehog
Insure that the lawn is properly graded that you have no low spots, and that water flows away from the house to the street, drainage system, etc. And take into condieration that you might receive lawn run off from current or future neighbors, so if you can grade your lawn in such a manner to deal with that possibly you’ll be much happier in the long run.
Posted on 6/1/19 at 3:08 pm to Stonehog
quote:
It's a production home but we get to pick out the brick and shingle color, etc. since it's not built yet.
Watch the “upgrades” and changes. The production guys have heavy, heavy markup on that stuff.
Posted on 6/1/19 at 3:50 pm to Stonehog
The best thing that we did was to avoid a 30 year mortgage. Its ok to have one but pay on it like it was a 15 year one.
Very rough example but if an 80,000 mortgage for 30 years is about 400 a month.
That same amount in a 15 year mortgage would be about 600 a month.
Its definitely worth it to pay more each month if you can, especially in the beginning.
Very rough example but if an 80,000 mortgage for 30 years is about 400 a month.
That same amount in a 15 year mortgage would be about 600 a month.
Its definitely worth it to pay more each month if you can, especially in the beginning.
Posted on 6/1/19 at 3:54 pm to Stonehog
quote:first tip is don’t be disappointed when this doesn’t happen
and it will be done in about 5 months
Eta: never mind, saw it was a spec house
This post was edited on 6/1/19 at 3:57 pm
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