what should i know before buying a house?

[Deleted member 26859]

what should i know before buying a house?

im saving up for a deposit and getting a mortgage by the end of the year hopefully

what should i look out for?

does it matter when i buy it?

which resources should i check to learn about this shit

 

[Deleted member 20422]

That no matter what your house will always belong to (((us)))

 

[LowTrust]

real estate agents are big scammers, make sure the house is checked to have good structural integrity and make sure you like the layout architecture, cause you can change the interior, but you can't change the layout of the house (generally)

 

[LowTrust]

also look at the location, has it got schools near? shops? hospital? Is it a safe area? etc

 

[lightblue]

real estate agents are big scammers, make sure the house is checked to have good structural integrity and make sure you like the layout architecture, cause you can change the interior, but you can't change the layout of the house (generally)

I'm renting now but I have experience with buying homes.

echoing LowTrust. Lots of great points. Don't think your own agent will be by your side. agents only care for their own interest
always start with the lowest offer so you can meet in the middle.

I'd also add to do a conventional loan if you get qualified, not an FHA or you'll be paying private mortgage insurance for the entirety of the loan - unless you refinance later.
You can't just refinance at any time. there's a fee. You'd want to refinance when the 1% (or something) fee is less than the savings you'd be getting from a different bank when interest rates drop.

also, lots of problems will creep up. keep savings monthly for house maintenance and repair. one problem could set you back 5,000 like the AC giving out.

and as LowTrust said, location is important. If you don't *care* that much about location because say you grew up in a less desirable neighorhood but anything bad ever happened, look at it like this: bad location, bad investment. I have friends who bought in ok locations that got worse and their house value has gone down. meaning if they sell, they'd owe the bank a bunch of money.

I have friends who bought shitty houses in great locations and their value almost doubled for some of them in less than 3 years. meaning if they sell, they won't only be able to pay the bank, but they'll make a profit on that house. these friends get offers in the mail semi-weekly on average. their homes needed so much work but they're in such great locations that no one cares.

 

[BoredPrince]

what should i know before buying a house?

Which one to buy

 

[Deleted member 19174]

make sure the terms of your mortgage are good. Finding a good house in a good area is one thing, but making sure you aren't getting fucked by your mortgage terms is another thing.