Buying a first place to live

**i_bleed_purple** · 03-16-2009, 07:34 PM

Hey everyone, I'm just finishing up my first year of university, and next year I plan on living off campus.
I've found a townhome for a decent price that is close, and will be going tomorrow to check it out.
I know many of you have bought a house or apartment at some point in your life, so what I was wondering are what are some of the things to check out while i'm there that I might not think of?
Things include features, structural damages, etc...

Any input is greatly appreciated.

**ThorSPL** · 03-16-2009, 07:42 PM

You're up in Canada from what I remember...

I would check the heating and air conditioning units out (if it has AC) - make sure they work.
You want to check the foundation for cracks....

Odd things I didn't really pay attention to but wish I would have:

Placement of hoses and electrical outlets outside - and exterior lighting
Age of appliances- if you buy something that has old appliances, be prepared to replace them.

Soundproofing (and insulation) - makes a HUGE difference if you live in a crowded place and for your utilities....

DEFINITELY look up what the historical utility bills were; that and insurance rates can make a huge difference in the long run.
I look at it as if you can afford X per month, you're better off putting more in to a payment where you build equity than in a place that is cheaper but has higher monthly throw-away expenses....

Ultimately find something that fits YOU and what you want.... a big living room, a basement where you can put up a projector to watch football on, etc.

There are more but I will leave this open for other PPO'ers

**jmcdon00** · 03-16-2009, 07:47 PM

Good for you. I'm actually looking at buying my first house right now too.
One thing that I have found difficult to get around is the mortgage company will only give me a loan on a house that is ready to go. I have been looking at foreclosed houses with some problems like, frozen pipes(got a plumber brother with no work), old furnace, broken windows, appliances need replacing, mold etc.
Focus on the serious things and don't worry too much about cosmetics, once its yours you can paint for cheap.
Also make sure you get your first time home buyers credit, $8,000 or 10% whichever is less! The day after you buy you can ammend your 08 tax return and probably get that money in 2-3 weeks.
http://www.irs.gov/newsroom/article/...204672,00.html

**BloodyHorns82** · 03-16-2009, 07:59 PM

"jmcdon00" wrote:

Good for you. I'm actually looking at buying my first house right now too.
One thing that I have found difficult to get around is the mortgage company will only give me a loan on a house that is ready to go. I have been looking at foreclosed houses with some problems like, frozen pipes(got a plumber brother with no work), old furnace, broken windows, appliances need replacing, mold etc.
Focus on the serious things and don't worry too much about cosmetics, once its yours you can paint for cheap.
Also make sure you get your first time home buyers credit, $8,000 or 10% whichever is less! The day after you buy you can ammend your 08 tax return and probably get that money in 2-3 weeks.
http://www.irs.gov/newsroom/article/...204672,00.html

He is from Canada.
I hope to high hell our wonderful government isn't giving free handouts to Canadian citizens as well.
:P

**jmcdon00** · 03-16-2009, 08:08 PM

"BloodyHorns82" wrote:

"jmcdon00" wrote:

Good for you. I'm actually looking at buying my first house right now too.
One thing that I have found difficult to get around is the mortgage company will only give me a loan on a house that is ready to go. I have been looking at foreclosed houses with some problems like, frozen pipes(got a plumber brother with no work), old furnace, broken windows, appliances need replacing, mold etc.
Focus on the serious things and don't worry too much about cosmetics, once its yours you can paint for cheap.
Also make sure you get your first time home buyers credit, $8,000 or 10% whichever is less! The day after you buy you can ammend your 08 tax return and probably get that money in 2-3 weeks.
http://www.irs.gov/newsroom/article/...204672,00.html

He is from Canada.
I hope to high hell our wonderful government isn't giving free handouts to Canadian citizens as well.

:P

oops. Sorry about that.
And it's not a handout, it's an incentive. The government wants me to buy a house and is willing to pay me to do it.
;D Actually I think I proposed something like this in a stadium thread, something about all the money spent, and taxes paid by homeowners the goverment should buy me a house. I might have to reconsider my position on public funding for a new home for the Vikings.

**BadlandsVikings** · 03-16-2009, 08:12 PM

"BloodyHorns82" wrote:

"jmcdon00" wrote:

Good for you. I'm actually looking at buying my first house right now too.
One thing that I have found difficult to get around is the mortgage company will only give me a loan on a house that is ready to go. I have been looking at foreclosed houses with some problems like, frozen pipes(got a plumber brother with no work), old furnace, broken windows, appliances need replacing, mold etc.
Focus on the serious things and don't worry too much about cosmetics, once its yours you can paint for cheap.
Also make sure you get your first time home buyers credit, $8,000 or 10% whichever is less! The day after you buy you can ammend your 08 tax return and probably get that money in 2-3 weeks.
http://www.irs.gov/newsroom/article/...204672,00.html

He is from Canada.
I hope to high hell our wonderful government isn't giving free handouts to Canadian citizens as well.

:P

Isn't everything in Canada free?

**Marrdro** · 03-16-2009, 08:58 PM

Always important, but even more in this day and age of multiple mortgages, but I would get a lawyer involved and have them do a title search.

Run all the water in all the faucets, sinks ect to make sure the sewer drains.

Knock on the next door neighbors place and say hi, ask about anything he knows of.
Kills two birds, you find out about any problems and meet your neighbor.

Make sure your realator gives you any updates on changes that could happen in the area, i.e. road widening, mall openings, dump openings etc that might not be conduscive to a neighborhood.

**i_bleed_purple** · 03-16-2009, 09:08 PM

well, just to clear any confustion, I'm not buying... I guess i worded things a little off..
I'm renting, what I'll be renting is a town home most likely.
Thanks though for the input, good stuff, keep it coming, already added a couple things to the list that I didn't think of.
This won't be a permanent living arrangement for me, but I'm hoping its somewhere I can stay for another 4 or 5 years untill I'm done school.

**thatjusthappened28** · 03-16-2009, 09:24 PM

its always nice to have a nice big fathead of Adrian Peterson somewhere in the house... its a great house warmer. You'll be stunned by how many oo's and aw's you'll get.

**i_bleed_purple** · 03-16-2009, 09:29 PM

"thatjusthappened28" wrote:

its always nice to have a nice big fathead of Adrian Peterson somewhere in the house... its a great house warmer. You'll be stunned by how many oo's and aw's you'll get.

I was thinking just that.. but they`re so damn expensive, and being on a student`s budget... it might have to wait (unless of course someone wants to send one my way