What would you do?

What would you rather do for a first time home buyer.


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Rburt5

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Personally, I think most people should buy a used house the first time around. I thought I knew what I wanted in a house when I bought my first one. After living in it for awhile I've realized some of the things I thought were important are actually kind of petty. I'm glad I'm not stuck with a customized new house that I'm no longer happy with. Im much better prepared for building a new house now that I've lived in a used one.
 

silverlake

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Unless you have resources and a great builder, buy an older home.

Owning a home can be a full time job sometimes. I can imagine building one is double that.

I bought my first house 5 years ago. Built in 1939. I have sanded or painted every surface, replaced every window, changed every faucet, remodeled 2 rooms completely and still have miles to go. Assuming I had "built" a house I never would have done these things.

But, unless you know exactly what you want and can draw and execute those plans yourself or have the resources to hire an architect and know a great builder, you're walking into a huge mess.

Where is the lot you've been offered? Are there already electrical, gas, water, and sewage lines that you can tap into or will those have to be dug at your expense?

Your best bet is to have the property appraised, and then to meet with a planner and or builder to get a sense of what it might cost to build a home on that lot.

Or, meet with a realtor and buy something already built... and save your pennies for your dream house when you can afford it and really know what you want.
 

Cookie

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The area you are looking in usually has a few builders that most people use. They will be of great help. My uncle built most of the area I live in, and my house is one of the few that he didn't do. Which might explain why I have so many problems. When you are young it is the time to build in my books. It can be fun and educational. Owning an older home can be tough and expensive and irritating. Nothing fun about that. If I were to build a first home, I would build the home to be very basic. Nothing fancy, no frills. That can come later. When you went to Home Depot to buy your new facet you picked one out, it is not any different when building a home. You find a builder, usually, he has an architect with plans, and with the exception of asking how many of this, how large, how much you got to spend, they can figure out what is best for you regarding the mechanics and functionality of the house. It isn't rocket science, and not at all like the wonderful, old movie, Mr. Blandings builds his Dream House. What is great are the results, a house that is spanking brand new, nothing to strip, nothing to replumb, new roof, new furnace, no worries...

You can be miles ahead.
 

hj

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?

House had been inspected by a "very experienced" home inspector.

Aren't ALL the inspectors "very experienced"? Being an experienced home inspector is like being a "street walker with a heart of gold", and they are almost in the same business. Most have a CYA clause in fine print that exempts them from guaranteeing that they found all the problems.
 

Cookie

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Well, I don't know about streetwalkers, but, I do know about Home Inspectors. I would make a much better one than most out there, and I even climb roofs. I wouldn't pay for one, unless, I was standing right there every inch of the way, making sure he checks this and that; and not slack off. I am not saying they all do, but, I know I had paid for one, whom I call, Harvey the blind inspector. He came recommended by his son, who taught him everything he knew. He was great, his dad was not, and I gather he was not a very astute learner. And, he was expensive, not cheap, like a two-cent hooker. I wouldn't hire one, I think it is a waste. Take the money you would had spent and buy a book, read it, study it and find out what to look for yourself. Then, you got a few extra sheckles to make a few repairs. I think, that will put you ahead of the game. And, whatever you do, don't use the ones realtors will give you. If you must have one, ask another neighbor, or a friend or trusted relative.
 

AZ Contractor

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I must respectfully suggest that anyone thinking that housing has hit the bottom and recommending a buy is either part of the real estate / mortgage business or very far removed from the real world.

You are correct. We are not at or even near the botom.
 
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