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Mortgage/First-Time Buyers

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Firstly, Don't wait on a loan from anyone! Some banks and lenders will string you along. Don't play their game. You should never have to wait for extended periods of time. (I was already in my first house when a prominent bank called and said my loan was approved!)

Secondly, get your new home inspected professionally before the closing!
$300-400. It could save you big money and heart aches!

Thirdly, I believe newer is generally better. Less problems to deal with.

Fourthly, Every thing MUST be down on paper! Don't take any one's personal word for anything! Never, ever!
 
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Man grad21, that's cheap!

Here's a problem with having a friend build a house, it's tough when things aren't done right to go up to them and ask them to correct their mistakes b/c in having a house built, there will always be mistakes and changes that need to be made.

Business and friends don't mix.

Still sounds like you have a good deal.
 
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Taosman;807184; said:
Firstly, Don't wait on a loan from anyone! Some banks and lenders will string you along. Don't play their game. You should never have to wait for extended periods of time. (I was already in my first house when a prominent bank called and said my loan was approved!)

Secondly, get your new home inspected professionally before the closing!
$300-400. It could save you big money and heart aches!

Thirdly, I believe newer is generally better. Less problems to deal with.

Fourthly, Every thing MUST be down on paper! Don't take any one's personal word for anything! Never, ever!
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One thing to add, get a home warranty as well.. may end up saving you thousands in case something breaks down. also, have the seller pay for the inspections & the warranty.
 
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You guys are speaking from personal experience and generalities, which is fine.

I doubt Grad's buddy is going to give him this great deal, then pay for all the closing costs, inspections, warranty, etc.

Everyone keeps preaching about fixed rates, but what if Grad only plans on living there a short time or selling it and making money in a few years? Then he would want to keep his payment as low as possible to maximize his budget and profit down the road.

First time Home Buyer programs arent usually that great if you already have established credit. These programs are for peole just starting a credit history. FHA/FTHB are NOT credit score driven, in fact, you dont even have to have a credit history. You can build one through rent, utilities, phone bills---not traditional tradelines on a credit report.
 
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Since you guys are also speaking of building costs and whatnot I was hoping to get some opinions on my situation. I will be building a home sometime within the next 3 months or so. I met with a homebuilder, and they kept stressing over and over and over throughout the presentation the importance of working with an architect. Now, I already have the home plans, and the only changes I would be making are minor (raising the roof maybe 3 feet in 1 room, making 2 rooms wider, and making this causeway on the second floor wider). What are the opinions here on using an architect for these minor changes? From what i was quoted an architect would be a 6 figure cost, and frankly I cannot see the justification. Any opinions? I will be very handson during this project so it is not as if I will never be around while it is being built.
 
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tyrus;807426; said:
You guys are speaking from personal experience and generalities, which is fine.

I doubt Grad's buddy is going to give him this great deal, then pay for all the closing costs, inspections, warranty, etc.
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I didn't say his buddy should pay inspections & warranty, the seller should. Also should have the seller pay closing costs up to $2500
 
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Bleed S & G;807450; said:
I didn't say his buddy should pay inspections & warranty, the seller should. Also should have the seller pay closing costs up to $2500
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I might be misunderstanding, but the way I take it is, his friend owns the land and is building the home to sell to Grad.

Grad, is your friend building, then sellign to you?
 
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tyrus;807493; said:
I might be misunderstanding, but the way I take it is, his friend owns the land and is building the home to sell to Grad.

Grad, is your friend building, then sellign to you?
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Yup...he is funding construction but I will be under contract prior to construction.
 
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Not the theme of the thread.. but maybe germane anyway

FWIW.. Couple things come to mind.. since I have built three times...

Have all your floorboards screwed down vs nailed...
Squeaks are the result of nails moving up and down.. and when the boards alter shape.. squeaks start... not so with screwed down boards.. and once the carpet or flooring is down.. try to fix a squeak...

Add insulation to some of your inside walls.. like around bathrooms... they'll cut off sounds.. and maybe around some pipes too... will deaden or quiet the sound of water running thru them

Consider a second floor laundry room... I have not done this yet... but sis-in-law did in Columbus.. wreaks with sense since that's where the majority of the wash comes from.. avoids the trek up and down stairs...

Not sure it's possible to have too many outlets for electric and cable... more cable outlets increase room flexibility..

Rules of thumb are.. kitchen and bathrooms are so key.. money spent in those areas have higher paybacks than any other areas in the house... knock yourself out here.. I love my granite tops... they don't scratch.. they don't discolor... and you can put any screamin hot item directly on them.. and no problem...

Whole family is addicted to ceiling fans... that make NO sound whatsoever (Hunter's a good brand)... every bedroom has 'em..

Have a mud room.. somewhere you and/or the kids can come in the house.. and peel... mud and all... might be great if there is water/sink nearby or in the room..

:oh:
 
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Good advice by NJ.

When fixing up my house, I put insulation around all water piper to keep the sound of flushing toilets and draining sinks from being too noticeable.

Also good advice on the screwing down of wood floors unless of course it's the tongue and groove pergo that so many people use these days.
 
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Thump;807546; said:
Also good advice on the screwing down of wood floors unless of course it's the tongue and groove pergo that so many people use these days.
Click to expand...

I think he meant the sub-floor.

My advice:

Wire the shit out of the place for multimedia/whole house audio/video. Doing that after the fact sucks.
 
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