For all of you guys who are homeowners or newly owned

[23]

Were you guys scared to approach the process?

Did you feel as though you weren't sure you could do it?

What made you go through with the process if those were some of your feelings?

[ScoobySnax]

My wife and I will be buying our first home here in the next 6-12 months. I'm a little apprehensive about the buying process. There's so much you have to know.

[snepp]

Having a quality realtor, especially for your first time through, is essential.

You can never ask enough questions.


The process itself is more boring than anything.

[Gotmadskillzson]

Like anything unknown, I was nervous because I thought it would cost more. I was actually surprised it didn't cost as nearly as much as I thought it would.

FYI.......

Don't trust realtors......They will tell you what you want to hear. It is best to scope out the area yourself on different days at different times.

I remember the house I bought out in Indiana, lady told me it was a quiet area, don't flood. First rain of the spring, basement had 3 feet of water in it.

And the neighborhood was loud due to the amount of kids and grandkids that lived over there.

My house in Vermont........quiet......

But yeah ask questions, but more importantly, hit the local bank and local stores around there and ask people who work there how that area is. More often then not, people who work there in the stores will tell you the REAL truth about that neighborhood.

Far as what made go through the process despite my nervousness.......I grew up in a 1 bedroom apartment most of my childhood in one of the dangerous neighborhoods in Chicago, the Austin neighborhood.

So as a child I vowed to never raise a family in an apartment or ever live in an apartment ever again. So yeah I have never lived in an apartment since I was a child.

Every place I lived as an adult was in a house.

[ScoobySnax]

Is it true that if you don't have a realtor, the builder maybe inclined to add in more upgrades since they don't have to pay the realtor a fee? We don't know where life will take us, but we plan on this being our one and only home.

@23 Didn't mean to hi-jack your thread.

[fistofrage]

Quote: Originally Posted by ScoobySnax

Is it true that if you don't have a realtor, the builder maybe inclined to add in more upgrades since they don't have to pay the realtor a fee? We don't know where life will take us, but we plan on this being our one and only home.

Yes....I would highly advise against getting a realtor and cutting some side deal for yourself. Once a realtor gets involved, they are going to get their hands on 7% of the transaction. Do the math.

[cardsfan2222]

Quote: Originally Posted by ScoobySnax

Is it true that if you don't have a realtor, the builder maybe inclined to add in more upgrades since they don't have to pay the realtor a fee? We don't know where life will take us, but we plan on this being our one and only home.

Some real estate agencies, like Assist 2 sell, will handle the paperwork for a fee that is alot less than the usual 6 or 7 percent commission. I wouldn't want to handle the paperwork without some help, because there is so much that has to be done properly to avoid problems now and in the future.

[mjb2124]

Quote: Originally Posted by ScoobySnax

Is it true that if you don't have a realtor, the builder maybe inclined to add in more upgrades since they don't have to pay the realtor a fee? We don't know where life will take us, but we plan on this being our one and only home. @23 Didn't mean to hi-jack your thread.

Not at all from my experience. We built our first house 1.5 years ago and didn't use a realtor during the build process. I didn't see any upgrade add-ins that we didn't pay for...


Regarding buying...I wasn't too concerned with the process. I spent a lot of time doing research about what I wanted, how much I could afford, how to deal with home builders and the process of building a house etc...I knew exactly what I wanted to spend (even though home buying calculators online said I could afford 100K more than what I spent) and what I wanted when I walked into any of the meetings. It made it easier on my wife and I and the builder. Also, those calculators were probably accruate if I wanted most of my income to go towards mortgage with limited savings. Don't spend what they list or you'll likely be near your limit.

With all that said, you'll learn a lot and there are things with my house that I wish I would have done different (in terms of a few design aspects and that I should have finished the basement when the house was built). This was simply a starter house for us so we'll know better next time in 10-15 years when we build our final home. Try to learn as much as possible and don't let it stress you out too much. I will say that dealing with mortgage companies is a pain in the butt now compared to a number of years ago. I spent many frustrating days on the phone with the mortgage rep because he was inadequate at his job (eventually had to tell his manager to move my mortgage to a different rep or I was taking my mortgage elsewhere).