Home buying thread

where is that shit hole.

Looks like one of those houses where they film porn.

Vinen said:

Makes me cry and want to move to Texas almost. 1800 square foot house is 3-4x even in this Market in Southern New Hampshire.

I"m looking to start this process right now and seriously... just to get a little bit of land (not talking much here) in an area that isn"t close to the fucking shithole section of my city is 200k min.

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Even this is kind of cheap compared to here in Japan. Was in a real estate office bored the other day looking around and 1300sq feet for just the land only is running for mid 200k (dollars) and this is on the outside of yokohama so we are not even talking about up in tokyo here.

Our house is smaller than my cousins house in Texas and where he paid like 140k we ended up paying in the end right around 850k for land and to have a house built (and this is between yokohama and kamakura for anyone who cares)....so yeah location location location eh.

But you can"t beat the convenience and fun of tokyo/ yokohama!

Congrats! Hope inspection goes well, good luck with your closing fun.

If that"s all that"s wrong with a 25 y/o house, I"d think you"ve got a pretty nice one. I"ve never replaced a roof so no idea of the costs, but surely the tax credit could go a long way toward making that a non-issue if you weren"t counting on it for other stuff.

Take a good look at all the different roofing materials available to you. I went with steel because the price was right and I could do it myself. Cost me 3k including the tools I wanted to buy and now I have a roof that won"t need redoing. Big plus when you go to sell, prospective owners know they won"t have to spend any coin down the road on it either. Other mats offer the same lifetime but can cost you a fortune(but really look sweet as hell). Even if you pay someone to do the work for you, it may not cost much more than a new ashphalt shingle job and it goes up in a single day.

Backstory: I"m a 20yo college student in Louisville, looking to buy my first house so here are a lot of questions. Any help would be appreciated.

I rent a house in a preservation district near UofL, a relatively expensive but really nice area and already in pretty high demand and only getting more popular as it gets more gentrified. I found a house 2 blocks away from where I am now that was foreclosed on and sold for 360k 2 years ago, asking 80k. 3 stories, 5k sq ft, could be divided into 3 units with some work. The place is a shit hole, but massive amounts of potential. It looks like the previous owners were trying to renovate it for 3 separate units, but were pretty amateurish about it. The electrical work that I saw was terrifying, I don"t even want to think about what I didn"t see walking through it. The biggest issue that I could see were multiple leaks in the roof that needed to be repaired immediately (gg 8k tax credit). A lot of the drywall will need to be replaced a result, but this isn"t so bad since it will make the electrical work easier.

They ripped all the carpet up so there are a ton of staples and tufts of carpet on every floor. Some of it is tiled though, which I"ll probably continue where they did it and resurface or replace the wood as I can afford it. I"ve never messed with flooring at all, but assuming the inspector says the floor"s safe I"ll end up just putting area rugs where it"s really bad. Most of the windows needed work, some were missing the frame and trim entirely and others just didn"t close.

All of the water outlets had a little winterized tag on them - I"m assuming that means that they just turned the water off then ran all the water through them? How does this impact the home inspection? I"m curious how much the inspector will be able to check plumbing/electrical wise.

Also, this is a 120 year old house. How does checking the sewer work out? From what I can gather online it"s basically sticking a snake with a camera on it to see what they see?

I"m running the numbers to see if I can afford it right now. So far it seems like it will work but I"m getting a quote on home insurance, I have no idea how it is calculated and if the massive square footage will make a difference. Definitely seems like a good project as long as I can make one floor somewhat livable early on while I work on the rest of the house. I"m starting to look for new roommates to try and reduce the cost and give me more money to pay for repairs also.

that sounds like a pretty bad idea unless you are very skilled in constructing houses, which it doesnt sound like from your email. The fact that you need someone to come inspect it and tell you the problems is not a good sign.

if you can afford to do a full renovation on the house (25-40k depending on condition of the bathrooms) then it would be more viable, but it doesnt sound like you have that kind of cash.

keep in mind you will still need to fill the place with furniture and appliances, which can easily cost 5k for a new house.

living in a place that is being renovated is not a pleasant experience. its better to rent a small place off site for the duration of the renovation, and then move in once its completed.

Doh, now for the longest week ever.

Well, after looking at god knows how many different houses we finally found one we love. The house was on the market for 349k then a couple of months later they reduced it to 325k. This was the perfect situation because a) It has been on the market for a little while which gives us some flexibility with the price b) the ladie that owns the house is going through a divorce and c) she said all of the furniture is up for negotiation.

We offered them 280k and they countered with 299k. We countered back with 290k and then they countered again with 297k. That"s when I dropped the bomb and said okay I"ll do 297k as long as we get a) The family room furniture, b) Kitchen table/chairs, c) Dining room furniture, and d) The guest room furniture. They accepted.

Mind you, all of this furniture is really expensive dark cherry wood stuff. All in all, I think we got a great deal.

TheCutlery said:

Aww man.

You know there was somefilthysex on that stuff

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We"re not keeping the mattress.