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Attn home owners!

Discussion in 'Adults Only' started by Wrecky, Dec 7, 2017.

  1. mcpon14

    mcpon14 Addict

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    And in some parts of Africa, it is almost free, lol. You just chop down some trees, cut them into lumber and build your house, lol. The costs are just from the supplies, lol. :)
     
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  2. Wrecky

    Wrecky Valkyrie Staff Member Mod Squad

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    BRB moving to Africa :stop:
     
  3. [c]ove

    [c]ove Member

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    I own two houses.
    There are a million things to consider.
    Best I can say is be there to walk around with the home inspector. Ask a thousand questions, no matter how dumb you may think.
    Foundation and roof are major ones to look at. Windows, are they triple pane. How old is the furnace, hotwater heater, etc. Does the property have adequate drainage.
     
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  4. mcpon14

    mcpon14 Addict

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    So, the room that I'm currently renting has bad plumbing even though the house was relatively newly-built. The owner recently told me that the plumbing construction job was badly done. How, in the future, can you tell these things before renting a place? :)
     
  5. [c]ove

    [c]ove Member

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    Ask the homeowner. Or the previous tenants, if you can find them.
    Some things are hard to find, but generally if what you can see looks shoddy, then chances are what you can't see is too.
     
  6. mcpon14

    mcpon14 Addict

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    What if they aren't so forthcoming with the information? Are there any tell-tale signs that you can look for? :)
     
  7. [c]ove

    [c]ove Member

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    Water damage, look inside the cabinets under sinks. It's the wood stained, peeling. Can you look under the house in the crawl space?
     
  8. mcpon14

    mcpon14 Addict

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    I'll have to keep those things in mind if I decide to move out. :) Thanks. :)
     
  9. [c]ove

    [c]ove Member

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    Ask a construction savvy friend come with you next time you're looking
     
  10. mcpon14

    mcpon14 Addict

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    I have no friends. :(
     
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  11. Vassago

    Vassago Regular

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    Like others have said, definitely get a home inspection done. Be sure that it's by someone that also checks for carbon monoxide leaks. When we purchased our second home we had the inspection done and thought everything was fine, but within a week of taking ownership it was discovered one of the furnaces was leaking carbon monoxide in dangerous levels and the other furnace was close to going too.

    The previous owners definitely knew about the problem (which explains why they moved to a rented house and lived there for 5 months while trying to sell the home) but they feigned ignorance and it ended up costing us almost $15,000 to replace the two furnaces, 1/3rd of our total renovation money. Checking for carbon monoxide levels isn't required by home inspectors, but it's as simple as them buying a cheap test kit.

    S
     
  12. Vassago

    Vassago Regular

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    SHOP AROUND FOR YOUR MORTGAGE! Banks are businesses, you may expect your bank to give you the best deal around because you've been loyal to them for years, but that's just not true. Go to three different places and get prices from them, then use them as a bargaining chip to get the lowest possible interest rate. Because we did that, we ended up with a lower interest rate than any of the bank employees themselves could even get.
     
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  13. Wrecky

    Wrecky Valkyrie Staff Member Mod Squad

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    Good advice @Vassago ty for the heads up :clap:
     
  14. Vassago

    Vassago Regular

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    No problem
     
  15. [c]ove

    [c]ove Member

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    Also, know that you can negotiate interest rates with your bank. Never take their first offer.
     
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  16. Wrecky

    Wrecky Valkyrie Staff Member Mod Squad

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    You guys have given me some great advice. Now I'm dying to find a "maybe" house just so I can go through and critique it :imslow:

    ..but I probably won't waste my time unless it could be "the one"
     
  17. [c]ove

    [c]ove Member

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    Or, if you're renewing your mortgage, shop around. Other banks want your business. Your bank may say that you have to pay fees and lawyers and whatnot to switch your mortgage. It's true, but you can remind them it's also their loss.

    There's always wiggle room.

    My wife is a general manager for one of the big 5
     
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  18. Wrecky

    Wrecky Valkyrie Staff Member Mod Squad

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    @[c]ove I'm glad you showed up, I was beginning to think this site was full of kids still living in college dorms :D
    Adulting FTW
     
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  19. Vassago

    Vassago Regular

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    Perfect timing. I literally just stated all of the above earlier this morning, lol.
     
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  20. Wrecky

    Wrecky Valkyrie Staff Member Mod Squad

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    @Vassago I think you were one of the first people in this thread to give me really good advice. I haven't forgotten ;)
     
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