[quote]Professor X wrote:
I was surprised as well. You can probably find a brand new house right now in this city with 4-5 bedrooms for under $150,000. Foreclosures seem to be all over as well even though people seem to try to destroy the house before they leave it.[/quote]
that’s ridiculous. wanna see what $150 000 will buy where I live…
http://www.realtor.ca/propertyDetails.aspx?propertyId=9106860
[quote]kothreat wrote:
[quote]Professor X wrote:
I was surprised as well. You can probably find a brand new house right now in this city with 4-5 bedrooms for under $150,000. Foreclosures seem to be all over as well even though people seem to try to destroy the house before they leave it.[/quote]
that’s ridiculous. wanna see what $150 000 will buy where I live…
http://www.realtor.ca/propertyDetails.aspx?propertyId=9106860[/quote]
Yeah…that sucks.
I am sure places like California and New York are expensive as hell also.
Congrats on the new home. You’ll like it alot better than an apartment.
Raise the value quickly and add value by:
Making sure you spend money in a few areas. A nice big kitchen gives you a lot of bang for the buck. My guess is you spend alot of time in the kitchen.
Cabinet space should be ample, and designed for efficiency and style. Quality counters, floors, and appliances. Adding a panty is also a good move.
Open up as many spaces as possible.
Having a functional attic and basement increases your square footage. If you can’t finish them maybe at least get them roughed in.
Master bedroom. walk in closets. Large with a great master bath. Put a nice glass and tile shower with multiple shower heads, and a large tub. A double sink too. Set it up so you can separate the toilet in a small room with door.
FLOORS!!! Hardwood and tile or granite everywhere.
Two full and one half bath.
Don’t skip on landscaping!
Geo-thermal!
Most time the drywall finishers are the ones that do the worst work.
Make sure you get a good warranty all all worked performed by the general and sub contractors.
It is a great market for buyers. I statred buying rental properties when I was young and am taking every good deal I can find now. It’s my retirement plan.
[quote]Professor X wrote:
[quote]Testy1 wrote:
It’s not for everyone, lot’s more upkeep than most non homeowners expect. From watching some of those home buying shows it seems there are a lot of great deals in Texas, I was surprised at how much you could get for your money.[/quote]
I was surprised as well. You can probably find a brand new house right now in this city with 4-5 bedrooms for under $150,000. Foreclosures seem to be all over as well even though people seem to try to destroy the house before they leave it.[/quote]
A buddy of mine bought a 2 bedroom with a detached garage and a large backyard in the Heights a few months back for a shade under $150k. After renovations [which he’s done most on the cheap, I helped him build the floor in one room and some other stuff] he’s right at $200k. Before the bottom fell out that same house would’ve been at least $350k. If you go down to Alief or old Bellaire you can find some pretty roomy older houses for less than $200k. Now’s the time man.
You wouldnt know the economy is bad out here in BC. In the 2 weeks that the Olympics were here one company sold 7 luxury condos totaling almost $47 million. One of them was $28 million. This is for a condo… not a house… a condo… haha
If the real estate agent is breathing, assume he is lying. Many times, he will tell you that a property is a great deal for a certain amount, only because he has a seller ready at that amount. If you can be present when the inspectors come would be a good idea. If there are any upgrades, you should ask to see paperwork from the contractors who did the work. Take a look at the ceilings for any cracks or leaks, often signs of a fucked up roof. Replacing that is serious $$$. Ask the agent if there was any damage from any disasters (fires, floods, etc). It is better to have a shitty house on a nice street, than a nice house on a shitty street. Imagine the house as it being your own. Picture your flatscreen on the wall, shit like that. You have to consider if things fit for you. Things like paint and all that are minimal. Does the structure and layout work for you. The surrounding homes influence home value more than the home itself. Be ready to have to put your foot down, these fucking agents are pushy, but I think they will get too testy with you from your physical presence.
[quote]MaximusB wrote:
If the real estate agent is breathing, assume he is lying. Many times, he will tell you that a property is a great deal for a certain amount, only because he has a seller ready at that amount. If you can be present when the inspectors come would be a good idea. If there are any upgrades, you should ask to see paperwork from the contractors who did the work. Take a look at the ceilings for any cracks or leaks, often signs of a fucked up roof. Replacing that is serious $$$. Ask the agent if there was any damage from any disasters (fires, floods, etc). It is better to have a shitty house on a nice street, than a nice house on a shitty street. Imagine the house as it being your own. Picture your flatscreen on the wall, shit like that. You have to consider if things fit for you. Things like paint and all that are minimal. Does the structure and layout work for you. The surrounding homes influence home value more than the home itself. Be ready to have to put your foot down, these fucking agents are pushy, but I think they will get too testy with you from your physical presence. [/quote]
You guys give good advice.
As far as cracks and leaks, these are issues I may not be aware of at first because the house isn’t even built yet.
You’re going to need them to widen doorways and reinforce floors.
[quote]pushmepullme wrote:
You’re going to need them to widen doorways and reinforce floors.[/quote]
You made me choke on my steak.
I think now is a great time to buy provided you plan to hang on to it and can afford to hang on to it for 5 years. That will cover you for any further dips and a rebound etc.
Im looking myself right now in NYC, 150K wouldn’t cover half the deposit im afraid though!
Dude, I bet your basement is goin’ to be some sickening freakshow of a gym!!!
blessed be Prof X!!!
Oh and to mimic lildave the economy is fine…c/bus totals ridiculous revenue from the Arnold and considering travel expenses…lookin at that, we’re fine
still though, good luck X!!!
IMMORTAL
One thing to think about, too, is family growth. If I recall, you’re a not-married dude with no kids? If you think this has any chance of changing in the next 5-10 years, and you plan on being in this house, think about how your ‘space’ is going to change.
My house has been fine for wife and 2 young kids. As they’re getting older though, and another on the way, this house is starting to feel a bit cramped. Add on that I work from home (which I didn’t when we bought it).
I need a lot of space and starting to feel crunched. As much as you can, try to account for change as if the market is still a little depressed, you may not be able to dump the house.
Is your foundation in? You guys have full basements, crawlspaces, or slabs down there? Water in basement flat out sucks. You should know if you’re going to have a damp basement before the house is done.
[quote]SteelyD wrote:
One thing to think about, too, is family growth. If I recall, you’re a not-married dude with no kids? If you think this has any chance of changing in the next 5-10 years, and you plan on being in this house, think about how your ‘space’ is going to change.
My house has been fine for wife and 2 young kids. As they’re getting older though, and another on the way, this house is starting to feel a bit cramped. Add on that I work from home (which I didn’t when we bought it).
I need a lot of space and starting to feel crunched. As much as you can, try to account for change as if the market is still a little depressed, you may not be able to dump the house.
Is your foundation in? You guys have full basements, crawlspaces, or slabs down there? Water in basement flat out sucks. You should know if you’re going to have a damp basement before the house is done.[/quote]
Houses here, to my knowledge to not have basements because of how close we are to sea level. I am sure you hit water if you dig too deep around a port city.
The foundation is laid which I hear means the house should go up quickly now within 2-3 months but nothing else.
I was looking into purchasing a house and getting the first time buyer’s credit and everything, but I couldn’t justify it knowing that I am not really rooted here for any reason other than work. I could up and leave at any time.
The flip side of the coin- I feel like I am missing out on a great opportunity to make a large return on an investment. It bothers me…
Good luck. Don’t forget to have room for a meat locker!
As long as you are looking at it as a place to live and not an investment buy a house now lock in the low interest rate and watch inflation pay for your house.
[quote]Professor X wrote:
[quote]SteelyD wrote:
quote]
Houses here, to my knowledge to not have basements because of how close we are to sea level. I am sure you hit water if you dig too deep around a port city.
The foundation is laid which I hear means the house should go up quickly now within 2-3 months but nothing else.[/quote]
Oh check to see if your roof is wind resistant. I know that some standing seem metal roofs are Zone 3 Coastal rated…saves you a few bucks on insurance, is relatively cheap(if you get non-painted), and is energy efficient. Not to mention some companies offer double lifetime warranty.
[quote]Paste42 wrote:
[quote]Totenkopf wrote:
[quote]Professor X wrote:
[quote]Testy1 wrote:
Im thinking either Fairfield or Katy though. Ya know,the nice untouched areas. [/quote]
Doesn’t Katy have a bunch of natural gas wells? The reason I ask is I just can’t stand the smell. [/quote]
Hm,Your right. I was sorta leaning towards Fairfield because I can definitely see some great growth in that area. Plus,its so pretty. Where Id love to move when I get older (middle Age) is to New Braunfels,Texas.
X im not sure if this will help you or not but over here all the building regulations have changed!
Since there is mainly concrete built houses here im not sure you will need this info. at all but, will your house be timber framed or what?
Over here the cavity between the external and internal walls has been increased to 150mm from the previous 100mm to allow for 100mm insulation to be fitted, if this insulation isnt fitted properly it can cause interstitial condensation. The process of beading (drilling holes in the wall and pumping in insulation) is a messy process and expensive so you have to make sure all this sh!t is done properly. The reason for added insulation is to reduce the U-value, reducing the U-value is going to save you a sh!t load of money, cavity closers are now put in place over the lintel and the is insulation place behind the window cill to prevent cold bridging these too reduce the U-value aswell as other things. In your attic its suppose to be 350mm of insulation instead of 300mm. I dont know if this is useful or not man but make sure you have some honest builders. I know a friend who had their house built recently enough (3-6) years and their strip foundation (theres 3 different foundations: strip pile and raft) was not set properly, the bulb of pressure was incorrect and not evenly distributed thus causing his house to somewhat crumble on one side!
I dont want to leave a huge wall of text so ill leave it at that…will i just build your house?
[quote]Professor X wrote:
[quote]SteelyD wrote:
One thing to think about, too, is family growth. If I recall, you’re a not-married dude with no kids? If you think this has any chance of changing in the next 5-10 years, and you plan on being in this house, think about how your ‘space’ is going to change.
My house has been fine for wife and 2 young kids. As they’re getting older though, and another on the way, this house is starting to feel a bit cramped. Add on that I work from home (which I didn’t when we bought it).
I need a lot of space and starting to feel crunched. As much as you can, try to account for change as if the market is still a little depressed, you may not be able to dump the house.
Is your foundation in? You guys have full basements, crawlspaces, or slabs down there? Water in basement flat out sucks. You should know if you’re going to have a damp basement before the house is done.[/quote]
Houses here, to my knowledge to not have basements because of how close we are to sea level. I am sure you hit water if you dig too deep around a port city.
The foundation is laid which I hear means the house should go up quickly now within 2-3 months but nothing else.[/quote]
In order to qualify for the tax credit, you need to be under contract by 4/30 (sounds like you are) and close by 6/30. So you will want to keep your builder on track to take advantage of that.