What to look for when house searching

[Noey]

Dan, one does not "Casually" look for a home. It's a pretty serious endeavor (and a major investment )best done when you're ready. . It doesn't sound as if you or your needs are there just yet.

So, the first thing to look for are what your CURRENT needs are. In much the same way that you're not rushing out to buy a mini van, you shouldn't buy more than you currently need. Unless you have a particularly accurate crystal ball, it's really impossible to know what the future holds, and if the time and money spent now will turn out to be worthwhile. Things like schools and the like are meaningless when you do not have children, and who knows what those will be like if/when that need arises. Also, as others have mentioned, don't assume your future wife will want to move into and stay in your home, she might have much different ideas about all that.

What might be best right now is to start a savings and investment plan so you have the money set aside and growing for that future purchase, and continue to spend to keep your current place up to date and fresh for eventual resale.

It's always best to plan for the future, but not necessarily make long term commitments about that future until it becomes much clearer.

 

[ecotourist]

One more thing - in addition to all of the objective criteria, buy a house that appeals to you. You want to feel good about owning it.

 

[Al]

"Can I afford it"

 

[Californiabob]

I would add

if you've made money on the house then sell it soon (the housing market is too hot in certain areas and may correct) and take the $250K capital gains tax free. I know people who've done this several times and are millionaires.

second look in areas that have highly ranked school systems (top ten states - not bottom 10) and you'll probably find the job market is the root cause.

buy new for that shared house, your wife will love the ability to design and move into a new home. Moving into a 30 YO house with annual $10K maintenance that's been designed/furnished as a bachelor pad will lead to problems down the road.

new homes with basements come with 30-year warranties on water tightness of the basement. then have the basement finished - almost doubles the usable space and packs a wallop if you ever sell.

having lived in a older house and spent $10K per year to FIX (aluminum wiring, 20-year old roof, driveway and waste pipes, heater/kitchen appliances,painting house, fixing backyard fencing and decks, trees pulled down) over 6 years of 10k over mortgage.

it was cheaper to buy a new house, have a finished basement and have a lot of stuff paid for by saving the annual maintenance and no maintenance costs other than light bulbs.

the other factor is new houses are built in growing and more desirable areas. they gain more than older areas with restrictive growth rules. the 3% rule for older homes may not match the 6% growth for newer homes means that after abut 10 years or so, the gain is huge.

Good Luck
Bob

 

[SatinSilver]

Get a newer townhome or condo since the ladies like that. It give you more free time to spend on them. Otherwise you'll be out in the yard cutting grass, trimming bushes, cleaning gutters, shoveling driveway, etc....

Location

Garage, so the 20 inch wheels on the Accord don't get stolen.

 

[Andrew1972]

Sounds stupid and obvious location, location , location. Everything else changeable.

 

[Jarlaxle]

Originally Posted By: hatt
Originally Posted By: Jarlaxle
An apartment. A house is like a millstone around your neck if you ever want or need to relocate...as well as maintaining it being a second (unpaid) job!
Not really. If you're upside down on a house you put zero down and couldn't afford, or bought on a bubble, or refinanced 2-3 times to pull out equity, you might be right. People that have bought a house they could afford and put a little money down in the last 6-7 years are doing good. Historically, selling a maintained house at market price usually isn't a problem.


Or had to drop a bunch of money on repairs (new roof, new furnace, siding, even something like a burst pipe), or are in an area that has a weak housing market.

Or an area that has skyrocketing property taxes.

 

[HTSS_TR]

Location, location and location.

The area with the best schools are always in high demand, in good time and in bad time.

 

[mehullica]

Originally Posted By: dja4260
Gosh that's tough.

I guess I'd focus on the expensive stuff and let the inspector find the rest.

Age of roof (3-tab or architectural)
Age of furnace, AC compressor, etc. 80% or 95%
Age of water heater
Age of windows, vinyl, wood, etc.
Is plumbing galvanized or Copper
Sewer line clay, PVC, cleanouts? Lots of trees?

 

[mehullica]

& check water pressure, rebates offered by city/county for future home upgrades?

 

[hatt]

Originally Posted By: Jarlaxle


Or had to drop a bunch of money on repairs (new roof, new furnace, siding, even something like a burst pipe), or are in an area that has a weak housing market.

Or an area that has skyrocketing property taxes.
If the property taxes etc are sky high the rents are going to be sky high too. You're also paying for all those repairs through your rent payments. There's no free lunch. You're right about those incredibly weak markets, but those aren't the norm.

 

[supton]

I'm not sure I'd ever finish a basement--too many potential issues with water. I too am rethinking the desire for a basement; but I bet they are somehow important, besides if you have to dig that deep for a foundation, might as well make cheap storage space and hide the furnace. If you have a basement, a walkout one is great.

We've liked recirculating hot water for heat; wife had terrible sinus problems when living at her parents house, and thus made it a requirement for our house. In hindsight I guess that can be fixed with moisture control--I now have to run a dehumidifier most of the winter to deal with indoor humidity. Would be easy (easier?) to add a/c to forced hot air also, rather than hang units out a window.

I've determined I never want another cantilever ceiling; attics are a good thing. For the roof to do its job that is. My house suffers terribly for it, in my opinion. Skylights are good at letting light in; also great for letting heat out in winter and retaining heat in the summer.

If you are planning on family, get a house with two bathrooms. 'nuf said.

Don't get an exposed chimney; if you have to have a wood stove get the chimney inside the house. Otherwise it'll have issues with draft.

 

[Jarlaxle]

Originally Posted By: hatt
Originally Posted By: Jarlaxle


Or had to drop a bunch of money on repairs (new roof, new furnace, siding, even something like a burst pipe), or are in an area that has a weak housing market.

Or an area that has skyrocketing property taxes.
If the property taxes etc are sky high the rents are going to be sky high too. You're also paying for all those repairs through your rent payments. There's no free lunch. You're right about those incredibly weak markets, but those aren't the norm.


My taxes quadrupled in 4 years. I'm in a nice apartment now for not much more than I was paying just in PROPERTY TAXES. It's just not worth it.

 

[dan_erickson]

Ton of good info in this thread!!

I currently have a town house that is 2 bedroom 2 bath and 1400 sq foot. I hate living pretty much on top of people and I need some space because hearing the neighbors through the walls is a no go for me. I need something newer that is a little bigger with a 3rd bedroom because even if I never have kids a 3 bedroom place will sell better then a 2 bedroom place. Also has to be newer and modern because I am not buying a place just to sink a ton of extra money into it. I know what I want and what appeals to my eye but at the same time I need to be real and not spend out of my means. I got lucky when I bought my current house 3 1/2 years ago, heck I didn't even have to paint because it was so nice and everything was already done to my tastes.

 

[GGorman04]

This thread reinforces my belief that this is the best forum on the web. Who would have thought that such knowledge could be found on an oil forum?
Many people have given good advice here, but still at the top of your list should be location, and whether or not you can see yourself in this location for many years to come.

 

[AuthorEditor]

My advice is to go for location, location, location, and to rent for awhile until you are really sure about the location! I have moved a lot in life--lived in many different states all up and down the East Coast, and I have found it takes at least a year before you really get the feel for a place. Now you may have some places in mind that you have traveled to and spent significant time at--all the better--but watch out for seasonal differences. Just for example, the Maine coast is totally different winter and summer, and so is the Florida coast. If you are planning on staying around where you are living now, the location thing still applies. Obviously, if you have kids schools will be way up your list, but also what about other families nearby, playgrounds and parks, things to do in the winter, close to other family, etc. I personally think many people go for a house they want, and often overspend, rather than the location they really want. The best house in a lousy location is not worth it.

 

[Triple_Se7en]

If desiring to live in a populated community, don't let your home be too close to the neighbors on both sides of you. Find a subdivision that spaces houses aprox 50+ feet apart.

My neighbors on both sides of me are less than 20 feet away (each) and that's too close. I didn't mind it when both neighbors were my age group and middle class 33 years ago. But the ones living on both sides me now live more lower-class than middle class.

My subdivision is changing for the worse and I cannot afford to move. So prepare your next move, for what might occur in 33 more years, for your monetary situation then may change and your next subdivision may begin with white collar mix, then change to all blue collar - then all unskilled blue collar.

So seek a little space between you and your two neighbors on both sides of you. I now regret not having someone like me on a forum like this, offer me advice 33 years ago.

 

[aquariuscsm]

Make sure you move into an area that does not allow HUD or sect 8.

 

[GMFan]

dan_erickson, I am in a similiar boat. I'm single with no kids but I am presently renting and looking to buy something. I can't decide if I want a small house on 6 acres or a condo closer to a city. Hopefully you at least have it more narrowed down than I do!

 

[sciphi]

Once you've narrowed down a location, go to every open house you can. If that's at all possible. That's a great way to gain a feel for the area's market, and to be able to spot the diamonds in the rough. Looking at pictures online is a great start. There's nothing like looking at a house in person to see the things done right and the flaws that could kill a deal for you.

Agreed that saving now for a down payment (and the inevitable wedding decisions that you and your future wife absolutely must have your way) on a bigger place is a wise move. That way it's a shared first experience, and you + wife get to make a house just the way the two of you want it.