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Buying our first house!

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We lucked out as well, didn't get any credits but got 4.25 interest rate. Awesome thing is when we go to sell our house as long as the buyers are approved, they can take over our 4.25 rate which will be a big selling point for us in about 5 years. Of course by then, interest rates will be high again, and we may not be able to afford to move :lol:

The people threw in a home warranty on the cost of them. I wasn't going to buy one, as Dave Ramsey says extended warranties are worthless.
 
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Fortunately for us, we were looking for a house with an eye toward this being our last stop. We don't have any children yet, and 4br/2.5ba should give us plenty of room for a family.

And yeah, I'm already pumped about the rate. Last year when we almost bought it was 4.25. People then said that was a rock-bottom rate and now it's significantly lower. We had talked about making extra payments once we got settled in somewhere, but with the rate being as low as it is we might be better off directing that money toward retirement instead.
 
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jlb1705;2117070; said:
Fortunately for us, we were looking for a house with an eye toward this being our last stop. We don't have any children yet, and 4br/2.5ba should give us plenty of room for a family.

And yeah, I'm already pumped about the rate. Last year when we almost bought it was 4.25. People then said that was a rock-bottom rate and now it's significantly lower. We had talked about making extra payments once we got settled in somewhere, but with the rate being as low as it is we might be better off directing that money toward retirement instead.
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This.
 
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Had the inspection today. Little worse for wear than I had thought, but really just a lot of little things that can be done over time. Nothing major besides a hole in the side of the gable that will need to be repaired before closing by the seller. Basically the owners used this as their Florida "cottage" so they really did the bare minimum to the place for the past 25 years. The AC is new as of 2008, roof in 2006, and water heater in 2011, so those are all in great shape. The appliances all work but are original to the house (built in 1982 or 3) so will have to be replaced soon. Structurally, sound as a rock.

After going through it with a fine tooth comb with the inspector, I am pumped to get the deal done so I can move in and start on some things.

Fingers crossed at this point that the seller won't balk at the repairs and we can close this deal by mid April at the latest.
 
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buxfan4life;2117278; said:
Had the inspection today. Little worse for wear than I had thought, but really just a lot of little things that can be done over time. Nothing major besides a hole in the side of the gable that will need to be repaired before closing by the seller. Basically the owners used this as their Florida "cottage" so they really did the bare minimum to the place for the past 25 years. The AC is new as of 2008, roof in 2006, and water heater in 2011, so those are all in great shape. The appliances all work but are original to the house (built in 1982 or 3) so will have to be replaced soon. Structurally, sound as a rock.

After going through it with a fine tooth comb with the inspector, I am pumped to get the deal done so I can move in and start on some things.

Fingers crossed at this point that the seller won't balk at the repairs and we can close this deal by mid April at the latest.
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Sounds like a relatively small problem. I hope the close goes well for you and you can get everything in order before April.
 
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Closed on our house this afternoon. A little crazy but all done. Now we are the proud owner of two houses, so that whole other debt thread, well.....

We have a whole month before we have to be out of our condo, so the fun part starts this weekend with ripping, tearing, rebuilding, painting, laying tile.....so you know that whole other home repair thread.....
 
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For folks in need of appliances, check out ApplianceSmart especially if you live near CBus. They have many locations with all different levels of scratch and dent items.

We bought a $1700 fridge for $1095 which had a small dent on the side where the counter hides it.

The price is based on the model not the shape it is in, so checking all 4-5 stores may yield you a better or near perfect model. When we checked around, we found our same fridge at the same price with an enormous crater in the front. It looked like a wildabeest hit it at full stride.

Something to consider when shopping around, especially if it helps you get a premium appliance on a lower budget.
 
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jwinslow;2117487; said:
For folks in need of appliances, check out ApplianceSmart especially if you live near CBus. They have many locations with all different levels of scratch and dent items.

We bought a $1700 fridge for $1095 which had a small dent on the side where the counter hides it.

The price is based on the model not the shape it is in, so checking all 4-5 stores may yield you a better or near perfect model. When we checked around, we found our same fridge at the same price with an enormous crater in the front. It looked like a wildabeest hit it at full stride.

Something to consider when shopping around, especially if it helps you get a premium appliance on a lower budget.
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Thanks for that info. We are going to need to update our early 90's stove & dishwasher which sounds like a rock grinder :lol:
 
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Home inspection was this morning, and our guy discovered aluminum wiring. Has anybody else out the encountered this before? Any advice?

We're going to have an electician come in to do a more detailed inspection.

Meanwhile, our home inspector told us that throughout most of the house where the original aluminum-rated fixtures are still in place that we'd be OK, but his concern would be instances where newer fixtures had been installed, possibly without being retro-fitted.

About 2/3 of the circuits in the house are aluminum, and rest copper.
 
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jlb1705;2120121; said:
Home inspection was this morning, and our guy discovered aluminum wiring. Has anybody else out the encountered this before? Any advice?

We're going to have an electician come in to do a more detailed inspection.

Meanwhile, our home inspector told us that throughout most of the house where the original aluminum-rated fixtures are still in place that we'd be OK, but his concern would be instances where newer fixtures had been installed, possibly without being retro-fitted.

About 2/3 of the circuits in the house are aluminum, and rest copper.
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You're on it.
 
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I have already found a couple of issues this weekend while working on the new house. I was ripping up all the carpet to replace and found where there was some water stained floor boards under a window in the master bedroom.

These are the things that drive you nuts when purchasing a house. No way that an inspection would pick this up as there is just no evidence any where. It doesn't look to extensive and is not structural by any means, but I am going to see if I can do some sort of mold spray or cleaning just to ensure things are good.
 
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Sounds like I already have good news on the wiring issue...

The seller's agent was present during the inspection. Come to find out, she was nervous about our inspector and has come to refer to him as "The Dealbreaker". :lol: He's thorough, and that's why we hired him in the first place, then hired him again.

She stuck to one room most of the time and eavesdropped on the inspection. I was careful not to make to many indications about what I thought of the place or what was being found. I did make sure to let her know though that I had backed out of a deal based on an inspection once before and since I'm a month-to-month renter of my current place, I'm under no pressure to take on a place that's less than ideal.

When the inspector discovered the aluminum wiring in the circuit panel, he followed up by going around the house and checking what was behind the plates on some of the fixtures throughout the house. He did one of them right in earshot of where she was sitting, showing the aluminum wiring leading into the light switch and more aluminum wiring leading out of it to the new ceiling fan it controlled.

She called my agent unsolicited and said the sellers were already calling electricians to have the entire house retro-fitted with CopAlum, and that the work will be fully documented. We didn't even have to haggle over it.

This is going too smoothly - there has to be another shoe about to drop.
 
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