Thread: Purchasing a home

When looking at a condo check out the maintenance records. Look at access areas, common areas to see how well they're maintained. Are there any nuisance neighbors?

If looking at a house look at the place after a good rain. Check how well the drainage around the foundation and yard is. Check inside for any leaks. Check all outlets/faucets/toilet. Check foundations, walls for cracks. Hiring a housing inspector will be the $200 you could spend prior to purchase.

Originally Posted by danzik17

You don't feel that PMI is a huge waste of money on the order of 100-200$ per month?

Sure it's a waste, but considering I put down $8k instead of $46k, the PMI I am paying is worth it for me at this time...

Originally Posted by unclem

+ $250,000 annually is high income. i think. but you have to just trust your broker. the rest is a learning process. good luck roid.

well I'm pretty sure we don't have a high income

Bro, I dont know if this has been mentioned or not, but most of the posts are about finances and location, but not about the property itself. After you have decided what you want to spend, and where you want to buy, do NOT skimp on the inspection. Pay good money, for a good inspector, who will be representing YOU and not the bank. These guys are worth their weight in gold, and can save you a shit ton of money in the long run.

When I bought a house in PA, the inspector found a tiny little PVC pipe in the attic, that turns out was vented from the drainage and sewage system, and dumping toxic fumes in the house. This pipe was about an inch wide in a dark corner of an attic in a 2600 sq ft home and he not only found it, but figured out where it was going, and tested the air in it and everything. I was able to get 15,000 more knocked off the price of the home, and it cost me $1,500 to fix.