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Things to consider while considering buying a house...

I don't want to leave anything out that I may have over looked... The asking price of this house is 76,000 so about how much do you think I am looking at all together? Did the price tag on your house double after it was all said and done? I need some help because frankly I don't know much about buying a house. Thanks!

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Asked by Anonymous at 10:30 AM on May. 3, 2010 in Just for Fun

Answers (6)
  • I think ours was $112 but then they give you a report on how much you will pay over 30 years and I think it came to something like $250,000. The day we closed on our house I thought I was going to be so happy that I would go there and start cleaning it up. Instead I felt so sick that I had to go straight home and lay down. It was a horrible feeling to have so much debt. Even now we are about 5 years in on payments and out of $1000 only $145 goes to the principle.

    Answer by BlooBird at 10:34 AM on May. 3, 2010

  • what we took into consideration was the SCHOOL! is there a good one in the neighborhood?

    what is the neighborhood like? are there lots of kids? is it family friendly? is the grocery/gas store close? dr?

    check the police websites for crime in the area - vandalism, theft etc...

    there are MANY things to take into consideration. not just cost and the house itself.

    what is the property tax cost? average for the neighborhood?
    for the house itself - how old are the windows? the roof? furnace? water heater? will anything need to be replaced in the next few years?
    how's the fence?

    Answer by hypermamaz at 10:41 AM on May. 3, 2010

  • You also have to consider big ticket fixes. We thought everything in our house was fine and it passed inspection. But then we found that the windows were very old and needed to be replaced 10K, then the roof became leaky 6K, the bathroom tiles fell off the wall and the wall bowed out 3k, then the city said our garage looked too bad and had to be sided or we would be fined $1000 a day another 3k. You never know what could happen. You could move in and have the hot water heater or furnace break. You have to have some savings for all that stuff.


    Answer by BlooBird at 10:54 AM on May. 3, 2010

  • kitchen !! thats the best selling feature in selling the house also .. ofcourse wen u guys would want to reconsider in buying another one
    also do watch HGTV. there are some shows on it which point out the main and imp features in buying a home.. i used to watch that channel alot when we were house hunting.. really does helps

    Answer by Anonymous at 10:59 AM on May. 3, 2010

  • Go and get pre-qualified, and they will be able to tell you pretty much exactly what you are looking at. Things to take into consideration are interest rate, property tax, homeowners insurances, closing costs, PMI (if you aren't making a hefty down payment) and homeowners dues.

    To give you an idea of how much those thing increase the payment. Our mortgage, meaning the amount of the loan after the down payment is 253,000. If you just broke it into equal monthly payments for 30 years, it would come out to payments of $702 a month.

    Our ACTUAL mortgage payment is $1699.75. This is at 5% interest, and includes our property taxes and homeowners insurance. We pay an additional fee quarterly for our HOA dues. Our closing costs were between 5k and 6k.

    Answer by Anonymous at 11:16 AM on May. 3, 2010

  • this is why i still rent!!

    Answer by Anonymous at 4:56 PM on May. 3, 2010

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