Buying New House-Am I being to cautious?

Discussion in 'After Hours Lounge (Off Topic)' started by Joe Tilley, Dec 7, 2003.

  1. Joe Tilley

    Joe Tilley Supporting Actor

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    My wife & I are supposed to close on a house this coming Friday. And I don't know if I just have the first time jitters or if I need to back out. The house is pretty nice it has new sideing & windows, 3 year old roof, & fairly new heat & air. But I cant help to be nit picking everything. There is quite a few little things that need done like paint, some wireing & plumbing need to be re done but there nothing major, The carpet needs replaced but it could waite if I had to. There a so many little things I can't stop worring about that its just driving me nuts to the point of not wonting to buy it. I keep thinking go ahead because the wife really likes the house & there are quite a few things I like about it as well. But wonce we move in we wont have the money to really do anything for awhile & thats what has me wonting to say no.
    Were in the position that we can back out if we wonted to because we are buying from the seller not through a morgage co. But we have already made the offer & everything is all set to go. It's been such a confusing prosess the last few weeks & a couple things caught us by suprise that we didn't pay enough attion to. Were first time buyers so nether one of us new what to expect or what we were doing, & now I cant make up my mind. We have been wonting to buy a house for the last few years & now I just don't know.
    So how many of you first time buyers went through this? Is it just something to expect or am I just worrieing to much? [​IMG]
     
  2. Grant B

    Grant B Producer

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    Have a drink and go through with it.
    When I bought my 1st condo; I signed all the papers in the morning and flew to DC for a meeting. While watching the Giants play in the world series the earthquake struck. The condo was next to a double decker freeway ....just like the one that collapsed. It was a different one but I couldn't tell at the time.
    Actually it survived just fine but those were the 2 most nervous days of my life. I hope things work out.
    Grant
     
  3. Glenn Overholt

    Glenn Overholt Producer

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    You would pay a fortune to get a perfect house. Even if you built it yourself you might still screw something up, so look at it this way...

    If nothing should go wrong for a few years, then buy it. Hopefully you'll have more money when the time comes around when something breaks, and make better decisions about what needs to be changed.

    Many new homeowners feel the same way. You are not alone. If there are any hidden problems, the seller should let you know what they are, but this kind of depends on how old the house is too. The plumbing should be checked out, unless the house is fairly new.

    On a side note, I got some spam a few days ago from some idiots claiming that they could lower the interest rate on my mortgage, on an apartment that I rented 7 years ago! [​IMG]

    Glenn
     
  4. Vincent_S

    Vincent_S Second Unit

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    Buy it. My house is only 4 years old and needs a few things done to it here and there.
     
  5. Kirk Gunn

    Kirk Gunn Screenwriter

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    Buying your first house probably the most stressful experience you'll go through. You're inheriting lots of risk, and shelling out a lot of money.

    Only thing that concerns me is the wiring/plumbing problems. They may seem simple issues at this time, but why isn't the current owner resolving them ?

    Good Luck !
     
  6. Bryan X

    Bryan X Producer

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    It's normal to have jitters when laying out that kind of money.

    Hopefully you have hired an qualified Home Inspector to look over the house. This is very important. If you've done that, and no major problems were found, that should ease some of your nervousness. If any material issues were found, that's leverage for you to negotiate on price or back out.

    If the only things that are wrong with the house are small cosmetic issues, don't sweat it. You can fix those. Most people who move into a used home replace the carpet and paint the walls anyway. There's really only one thing you can't change about the house, and that's location. So if you're very happy with the location of the house and the only things wrong with the house are minor and/or cosmetic, go for it.
     
  7. Curt_Dennis

    Curt_Dennis Stunt Coordinator

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    2 words...HOMEOWNERS WARRANTY! Have the seller buy you at least a 1 yr warranty that covers major problems...plumbing, heating, cooling, appliances, etc. It's only $300 or so for the year and worth it! If there are little things you are unsure of, this will give you a little piece of mind.
     
  8. BrianB

    BrianB Producer

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  9. DaveF

    DaveF Moderator
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    Newly built homes can also have minor and substantial problems, no different from older homes. One friend has had a leaking basement for the past three years, and the builder continues to avoid fixing it.

    New doesn't equate to problem free.
     
  10. DonRoeber

    DonRoeber Screenwriter

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    Your house sounds fine. The most expensive thing that you normally have to worry about is the roof, and a three year old roof is good for at least another 9 years (modern roofs are built to last 12 years).

    I wouldn't worry about the little things. You'll fix 'em over time, and The Home Depot will become your new favorite store. Owning a house is great fun, I bought mine two years ago, and still enjoy it. It's only a little two-bedroom townhome, but it's mine, and the money that I invest in it will be returned to me when I sell it in a few years.
     
  11. Tony Whalen

    Tony Whalen Producer

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    Doesn't sound too bad...but I'd also suggest getting a qualified inspector in, just to be sure. I *wish* I'd done that with the first property I bought.

    Good luck!
     
  12. Joe Tilley

    Joe Tilley Supporting Actor

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    Thanks for the responses guys. I think I'm just going to bite the bullet & do it. It too late into the prosess to get an inspector in there but Myself & my Dad & a friend of mine have been all through the house. We looked over everything we could think of from top to bottom & I guess it's just all the little stuff bothering me. I'm just too picky I think & being a first time buyer It's got me going around. Today is the day, my wife has been on the phone all day figuring things out, & I was up until 5 in the morning thinking about it. But I think I can't be going all to wrong the house actley appraised for 10 grand higher than were paying so I guess thats one plus to look at.
    I just hope in the meantime I can calm down about it all, my nerves are just shot to the point of not sleeping & just feeling like crap.
     
  13. Tony Whalen

    Tony Whalen Producer

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    Joe, if you are feeling this edgey, I would urge you to delay the process and get an inspector in there. You say it's too late, but it's never too late. You are the one signing the deal... you set the timetable, right? [​IMG] (Unless there is an opposing bid or something...)

    If it's worth 10 grand more than you are paying, why is the current owner accepting your deal? Who did the appraisal?

    Buying a house is the single largest investment most people make in their lives. It's worth it to take your time, and make sure it's done right, and that you aren't going to have problems.

    Just my two cents. I'm probably OVERLY paranoid, as the property I mentioned above cost me a lot of money over the years, because I didn't get a proper inspection done. I just trusted the owner. BIG mistake. Thankfully, I don't own it anymore. [​IMG]

    Whether you get an inspector or not, best of luck and I hope you enjoy your new home! [​IMG]
     
  14. Mark Zimmer

    Mark Zimmer Producer

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    Depending on what the wiring and plumbing problems are, I'd either insist the seller fix them or give you a credit on the purchase price so you can fix them. Of course, if we're talking a clogged sink drain and an out light bulb, don't be a doofus. [​IMG]

    But inspectors are essential. These are the biggest purchases you're likely to ever make, and leaving them to chance is insane, in short. I once talked a reluctant client into having an inspection done and she thanked me afterwards: it turned out from the inspection that the house wasn't actually attached to the foundation!!! Needless to say, that deal went nowhere fast. The moral: Don't skimp! Get an attorney too.
     
  15. Matt Stryker

    Matt Stryker Screenwriter

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    Get an inspector in there PRONTO. Especially if there are some visible problems with electrical and plumbing, because who knows what could have eluded you. Usually when you hire an electrician to come fix your wiring, they end up finding half a dozen other things that aren't to code.

    Put it this way. For $200 or so, the inspection gives you a pretty good idea of whether or not you're getting taken for a ride. Isn't that worth it? You'll easily spend twice that at Home Depot in the first month you're in the house.
     
  16. Michael Pineo

    Michael Pineo Stunt Coordinator

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    I agree with the others that are saying to get an inspector. When we bought our first house last May, I called and inspector on Thursday, and he was able to come the following Monday to inspect the house. You should be able to get someone in there. I don't know what level of experience you and those who have inspected the house have, but the professional inspector checked things I would never have known to check.

    MikeP
     
  17. nolesrule

    nolesrule Producer

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    I second, third, fourth, or whatever we're up to on getting a professional inspector. He will warn you about any issues or problems that are not so obvious and are not considered cosmetic by the laws in your state.

    As a result of the inspection when we bought our home last February, the sellers had to fix all electrical wiring that wasn't up to code (including some stuff I would never have noticed myself), install new screens on the attic vents and replace a garage door that was essentially non-functional.
     
  18. Joe Tilley

    Joe Tilley Supporting Actor

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    Well theres no going back now. I mean I could if I really wonted since we don't close til Fri, but we decided to go ahead with it. The relator working with us has someone coming Wed morning to clean the carpets & we will be going in tomorrow to clean up some of the little things.
    A far as inspecting I think it would have been a good idea, but the things that are wrong are minor. My father in law is an electrican so theres no problems taking care of the wiring. The couple things with it are just simple overlooked things. Like a couple wires have been tyed together in the basement but were never put in a junction box. And there are a few can lights in one room that the insulation is touching. The plumbing is good but for one small leak at a joint, that I can repair. I am by no means an expert but I have a few family members who have been around it all that know what to look for & what there doing.
    When we looked at the house we double checked all the plumbing, wiring,foundation, crawl space & the attic. It has alot of new work done in the last couple years & the things I'm picking over are what was not replaced. Everything is easy to get to & see since all of it is ran under the floor in the basement.
    I don't know I could be making a mistake, but I supposed I've got myself comfortable enough now knowing that I'll have plenty of people who can help me fix any problems along the way.
     
  19. MikeAlletto

    MikeAlletto Cinematographer

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    There is no such thing as a perfect house. Even brand new houses have quirks that need adjusting. Definitely get an inspector. You should not sign until the inspector has gone over the whole house, for the safety of you and your wife.

    How much is piece of mind worth to you? The thought that you "could" fix something later or knowing ahead of time that something needs to be fixed? Its up to you but not getting an inspector would be a bad move.
     
  20. D. Scott MacDonald

    D. Scott MacDonald Supporting Actor

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    Here's a little advice that's probably worth about what you're paying for it:

    1. As others have stated, all houses have issues that need to be addressed. As a new homeowner, you will either learn how to do these repairs yourself and stay on top of it, hire somebody else to do so, or let it slide. This is true of whatever house you buy.

    2. Inspections are to help you catch the big stuff. For example, if there's foundation damage or a structural issue, you would definately want to know about this up front. Inspectors are trained to know what to look for, whereas layman will not. As your dad is an electrician, he may or may not be qualified to catch all of the big things (it all depends on how much you trust him). The only red flag I see is that you make statements like:

     

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