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4 Bumps

First Time Home Buyer

For those who have bought homes, what did you look for? We are going to purchase a new home soon. On a website they said to make a check list of things we want in a home. This is mine:
BEDROOMS
2 or more bedrooms. Prefer 3.
Master Bedroom.
Cable and phone outlets in master bed


BATHROOMS
2 or more, can live with one
Master bathroom,
big bathtub, not a necessity
stand in shower


LIVING ROOM
Spacious
cable outlet
prefer carpet


KITCHEN
Plenty of cabinet space
Lots of counter space
Prefer an island or bar of some sort, not a necessity
prefer dish washer


OPTIONALS
car port
garage



OVERALL:
NO major damage or repairs
Cosmetic damage (such as paint) is ok
Minor damages are ok as long as it isnt too expensive.
No electrical problems.
Prefer if not ran on gas


what do you think? Did I miss anything?

 
LizzieAnnesMom

Asked by LizzieAnnesMom at 9:49 PM on Jan. 3, 2011 in Home & Garden

Level 13 (1,096 Credits)
This question is closed.
Answers (14)
  • you can always make a list of things you definitely want, and things you can compromise on. sometimes, the lesser things are negotiable, to making your decision. meaning, if its not ALL carpet, but you love the countertops or master bed/bathroom, you'll be okay not having ALL carpet.
    as far as the repairs..in your buyers contract, you will have a 'repair list' to sign. they usually ask for at least three top picks, and there's an agreed upon repair cost for the sellers. meaning, the sellers can choose to repair your top picks up to a certain amount, or pay you that certain amount and you fix them. you will want a home inspection-well worth the cost, and it varies, but your realtor can tell you about what it will cost. the inspection will show all necessary repairs and everything else minor that the new owner 'probably' needs to attend to in the future.
    you have the upper hand until the closing....
    dullscissors

    Answer by dullscissors at 10:06 PM on Jan. 3, 2011

  • ..if the sellers refuse to do the allotted repairs, they must pay you the agreed repair-amount, or you can choose to walk. there is usually a 10-day period the repairs must be done, or the contract is void.
    i suggest when you find the house you wish to buy, go to the inspection. when its finished, and he gives you the report, which if you are present, its easier for him to explain everything to you he may find wrong or in need of minor repair.
    remember paint is cheap..you can always repaint something yourself.
    carpet-allowance is something you can ask for in your buyer's contract, if its crappy, needs replacing, or really dirty. you can ask for anything..doesn't mean the seller will agree. but that's what the back-n-forth of a contract is about. its a game between the buyer and seller. just remember, you have the upper hand..there are always other houses to buy.
    last but not least, bid lower than you're willing to pay.
    dullscissors

    Answer by dullscissors at 10:11 PM on Jan. 3, 2011

  • ..most buyers will walk if after the second offer, the sellers aren't moving down enough. it just shows you who's serious about selling their house, or who thinks their house is a mansion. (its not.) for instance, if the asking price is $200,000..and there are minimal repairs (most repair costs are $250-500 in-contract), i'd offer $170-175,000, first time out. they'll counter. depending on their counter, gauge your next offer accordingly. if they counter with $195,000..they aren't going to take anything less than $185, 000, probably..and you might get lucky if they did.
    you'll probably split the closing costs (your bank should be able to tell you what that will be, depending on the cost of the house.)
    don't bite off more than you can chew, just because you've been approved for so much. the bank might approve you for several thousand more than you can afford, in reality. do your homework!! good luck!
    dullscissors

    Answer by dullscissors at 10:17 PM on Jan. 3, 2011

  • you can always change realtors, too! if you aren't finding what you want, or feel the realtor isn't 'feeling you'...check out, and go somewhere else. ask around and see if anyone knows a good realtor, someone who really talks to the buyer and does her/his job. surely someone you know can recommend a great one.
    dullscissors

    Answer by dullscissors at 10:21 PM on Jan. 3, 2011

  • We didn't go shopping for a house, we went shopping for a neighborhood.
    UpSheRises

    Answer by UpSheRises at 8:54 PM on Jan. 4, 2011

  • awesome. you were more help than the stupid Realtor.
    LizzieAnnesMom

    Comment by LizzieAnnesMom (original poster) at 10:17 PM on Jan. 3, 2011

  • I never made a list when we were looking to buy our first. We just walked through a few houses and went from there. It wasn't til after we'd lived here for a few years and had more kids that I learned what I truly wanted and what we needed.
    Anonymous

    Answer by Anonymous at 10:17 PM on Jan. 3, 2011

  • Lizzie, I think you're super smart to make a list! Did you check out realtor.com? I did a lot of shopping online before we ever looked at a single house. Granted, you can't always judge the house by the pictures, but sometimes it will make you think of something you hadn't thought of before. The house we just bought didn't look that great online but we LOVED it when we toured it.
    dull, that is amazing advice...surely you're in the biz! I'm curious what your opinion is on a "buyer's agent." We used one on our recent purchase and felt like we got GREAT service. I don't know if that is specific to our realtor, or if he had something special because of that designation. Great question...I'm bumping!
    JawgaMom1

    Answer by JawgaMom1 at 3:18 PM on Jan. 4, 2011

  • We wanted a fixer-upper the first time (and second time). 3 Bedrooms, single story. Nothing else was really important to us the first time because we were 20 years old without children.
    Now, we have a lot more requirements. 4+ bedrooms, around 3000 square feet, single story, walk in closets, 3+ car garage, utility parking, 2 living areas, eat in kitchen with pantry, separate laundry room. I actually would still prefer a fixer-upper for our third house, although we're having trouble finding something on a large enough lot.
    JulieJacobKyle

    Answer by JulieJacobKyle at 3:23 PM on Jan. 4, 2011

  • If you are looking at new homes, I would be more concerned about the deal that is offered (points, etc.) - and location, location, location.
    tasches

    Answer by tasches at 5:50 PM on Jan. 4, 2011

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