1st time home buyer here..need advise!

Re: 1st time home buyer here..need advise!

• AbeFroman

  July 2012

  Only looking two weeks!? My DH and I have been looking for nine months. Everyone says, you HAVE to be patient. Also, as much as you may love a house, try your hardest not to "fall in love with it." It's just a dwelling and another one will come along. Just think of it this way, a house can't love you back. You'll get over it.

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• LoveKiss member

  

  July 2012

  Deals fall through every day. But at the same time, don't get your heart set on one house and one house only. You have to be open to other possibilities. There will always be another house that you will love.

  We "loved" 6 houses- walked without offering on 2, cancelled contracts on 3, actually closed on 1. After loving and leaving a few houses I came to realize a few things: 1) buying a house sucks, 2) there's always a new house to adore, 3) sometimes you have to be really patient and wait for that new house to come on the market, and 4) the right house will be easy.

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• JLM0518

  July 2012

  Thanks so much! Really makes me feel better talking about it, and I totally agree with your #1!!

   We have been seriously looking (actually pre-approved) for 2 weeks..but we have been looking at houses for months casually. Going to random open houses, and just getting an idea of the market.

  We looked at some more houses on Sunday and there was 1 that was more what we were looking for in a house, but I just didnt "feel" it. We are also working with a realtor who I kind of feel as though judges me or tries to sell me on ideas of what we could do with a certain house even though I know as soon as I walk in if it is a yes or no for me. ugh... it sure is a process!

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• toothpastechica member

  

  July 2012

  My biggest piece of advice based on your last comment. Find a realtor who gets you and gets what you are looking for. We were working with one realtor who was pretty pushy both in trying to sell us something we knew we were not comfortable with price wise, or something cheaper that was crap...I think she was trying to prove to us that you have to spend the money to get something nice, which is BS, because we switched realtors and the realtor we worked with (who helped us find our house), was amazing, after a couple 'duds' with him he had a really good idea about what we were comfortable with and kept us in that area/type of house and found us a wicked awesome deal on a house that met all our needs and all our wants for under the going rate for the area. The thing I was the most impressed with him was that he was patient with us and let US call the shots, never tried to force us into anything or talk us into anything we didnt want. So if you are not on contract with your realtor, I would honestly go to more open houses and talk to different realtors and find someone you feel comfortable with and switch.
  
  I refuse to deal with a realtor who I feel doesnt get us, it just makes it frusterating for both the buyer and the realtor when no one is happy.

   

  

  

  My Blog:Through My Eyes

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• Quiksilver620

  July 2012

  I was devastated when our first deal fell through, but something better came along and I love out new house.

  Trust everything will work out and be paitient.

  Good luck
  

  

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• Sisugal member

  

  July 2012

  You need to be much more objective about your approach to home buying.  This is one of the largest purchases you will ever make.

  First - go over your finances and figure out how much you WANT and can afford to spend.  Do NOT go by what a lender tells you that you can afford.

  (Keep housing expenses to 25-28% or your TAKEHOME pay for mortgage+PMI+taxes+insurance+HOA+utilities)  30-35% if you are in a HCOL area. More than that and you can easily become house poor.

  Make sure you have your finances in order - pay off credit cards.  Have in savings $$ for downpayment, closing costs, utility deposits, moving costs, repair/renovation costs, decorating/furniture/appliances, tools, yard equipment etc and---- STILL have an emergency fund in place of 6+ month's expenses in place.

  Second - make a list of NEEDS for your house (price, location, # bedrooms, etc.

  Make a list of wants.  You will need to compromise on something - know what you will and will not compromise on.

  Get a good buyer's agent - do not use the listing agent.

  Take your time. (It took us 4 years to find our second house - it was well worth the wait.)

  Have an inspection. - Know how much you are willing to put into a house to repair/renovate.

  This is not a time to make an emotional decision - make a smart decision.   Good luck.

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