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Old 05/08/2006, 04:42 PM   #9
Registered Member
Join Date: Mar 2005
Posts: 417
Words of widom:
If you see a portable basketball hoop/stand in the driveway, run. It means there're kids in the neighborhood!

If you see a car or pickup truck on jacks on or near a driveway, run.
Seriously, do not use a home inspector recommended by a realtor, they are usually are working with them ( I made this error).

Get prequalified for your loan, so you'll know how much you have to work with.

Try to keep your house payment under ~30% of your monthly income. (because it will go up with insurance & taxes). Also you don't want your life revolving around your house payment (just your reef tank).

Dugg gave some good advice, in his 1st post above.

Try to find an area that has a low turnover in houses for sale. A low turnover in houses for sale indicates a more stable neighborhood. An older home usually cost quite a bit less than newer ones. That being said, they do have some disadvantages (updates will require meeting todays building codes). Ruby & I saved thousands of dollars by purchasing an older home in a stable neighborhood (most of the neighbors have been here for 20+ years).

Try to stay away from neighborhoods that have rental houses, they tend drive down property values.

It's been awhile since I bought a house (been in mine for 10 years), but put around 20% down to keep from paying the PMI insurance (I don't know if this still exists or not).

When you get your house, find a good annual termite contract. It has saved us several times.

You can save money by having your house, car(s), etc. with the same insurance company (it's called a multi-line discount).

If your wife works, then have your house payment at an amount that one of you can make if the other loses their job (Ruby & I have done this). This way you don't lose your equity that you've put into your house.

Just some life experiences from a 47 year old.
You can PM me if you wish to talk...


Last edited by 2ras; 05/08/2006 at 04:57 PM.
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