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Attn home owners!

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

  1. [c]ove

    [c]ove Member

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    Buying a house is hands down the best investment you can make.

    I'm ~$750,000 in debt... Yay adulting!.. :stun:
     
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  2. [c]ove

    [c]ove Member

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    Another thing to think about is how much equity is in the house. - I almost bought a real nice house, remodeled kitchen, hardwood floors, bathrooms had tile with in floor heating, etc. There was nothing I could have done to increase the value of the property. Best I could hope for would be to maintain condition, but that's unlikely with 3 dogs, a cat and teenager.

    Just because you can afford it, doesn't mean you should buy it. Especially if it's near the top of your budget.

    And always buy the extra insurance for your mortgage - job loss, disability.i
    It's a good idea with any visa, line of credit or loan.
     
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  3. Complications

    Complications Newbie

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    It’s probably a lot different here in the UK but I’m buying a property at the moment, it’s a new build. But my advice would be to make sure you get every single cost up front. I got tricked because I listened to the estate agent rather than trusting what I knew and it means I agreed to a property that meant I had a 6k to pay !
     
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  4. Naveed

    Naveed Member

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    Look beyond the paint.
     
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  5. Naveed

    Naveed Member

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    What you see is what you get
     
  6. Wrecky

    Wrecky Valkyrie Staff Member Mod Squad

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    Do you mean 6k in hidden fees? Or just more than the listed price? I have no idea how it works in the UK :imslow: I thought everyone inherited a castle if they live to be 100
     
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  7. mcpon14

    mcpon14 Addict

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    I guess another thing to look at is the land that it is on, if it is susceptible to landslides, lol. :)
     
  8. mcpon14

    mcpon14 Addict

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    The Normans are responsible for a lot of those castles.
     
  9. Complications

    Complications Newbie

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    In hidden fees. They call it stamp duty, it’s just like a tax.
    I really hope I live to 100 for my castle of course, but in the meantime I’ll have to stick to an apartment
     
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  10. Wrecky

    Wrecky Valkyrie Staff Member Mod Squad

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    What's £6k in CAD like.. 100k? That seems like way too much :iik:
     
  11. mcpon14

    mcpon14 Addict

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    10,140
     
  12. Wrecky

    Wrecky Valkyrie Staff Member Mod Squad

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    Really? I was just guessing :D
     
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  13. Vassago

    Vassago Regular

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    Look beyond the paint or you get what you see?
    Which is it?
     
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  14. Mr.Lame

    Mr.Lame Regular

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    Buy in hope
     
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  15. Wrecky

    Wrecky Valkyrie Staff Member Mod Squad

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    I like Hope :) That was one of the first places we checked out
     
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  16. Mr.Lame

    Mr.Lame Regular

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    They got some nice new built houses there too!
     
  17. Shonna

    Shonna Newbie

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    Check zoning and bylaws.

    Have your own realtor--the listing agent isn't required to look out for your interests, only his client.


    If there's something you see in the house that you want-ask. What's the worst they can do, say no?
    My boyfriend is my realtor and he got the sellers to drop the price by 14k, include all appliances, our first winters worth of heating fuel and multiple other things I wanted just by asking that originally weren't included.

    Don't buy near the top of your budget. Things always go wrong.

    Always have extra saved for the purchase. I was told by my bank I'd need $6000 as a final number after my initial deposit . 2 days before closing my lawyer told me $7300, plus the Genworth premiums on top of that. That's a rather significant gap to have to have covered within 2 days.
     
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  18. Wrecky

    Wrecky Valkyrie Staff Member Mod Squad

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    Hey @Shonna good advice and excellent first post :clap: :D
     
  19. CrazyPiink

    CrazyPiink Newbie

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    One thing I did when I purchased my house is I arranged to have the inspection done before agreeing to a price that way if something turned up in the inspection I still had a chance to walk away. Also always have the inspection done when the house is completely empty, besides the appliances that might be part of the sale, that way the inspector can insure that there is nothing wrong around windows and doors.
    My mom learnt the hard way with her inspection she had it done when the people were still moving out and they had piled boxes in front of one window so the inspector couldn't check it properly because they are not allowed to move things that may be in the way. Which ended up causing my mom to buy a house that had structural integrity problems around the window that was blocked.
     
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  20. Vassago

    Vassago Regular

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    What kind of structural integrity problems were there? Was there a big hole in the wall or it was damaged or something? Otherwise all the structure is hidden behind drywall.
     
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