Purchasing a home

[chineebai]

I know some people own homes in here or work in real estate, so any advice is appreciated.

I want to buy a house in the next 6 months and have researched a bit on the whole process, like getting pre qualified/approved for a mortgage. Can anyone offer some advice? Like what questions to ask the real estate agent, what to look for in a house, mortgage process, etc.

 

[MadameMoreaux]

no matter what, get a fixed mortgage
30 or 15 yr (15 is preferred)
If you get a 30 yr, make sure you refinance at some point.

You also want to ask about the home owners association in your neighborhood. Where does the school district rank..

 

[MadameMoreaux]

Will it be a brand new house or preowned...

 

[chineebai]

Will it be a brand new house or preowned...

Pre Owned. Most houses in NY(brooklyn/Queens) are pre own. From what I've seen, most houses range from being built in 1910-1960. I'm looking to buy a brick house

 

[Appex]

You should get a winnebago with burgular bars on the window. With this looming zombie apocalypse that would be a smart investment.

 

[AZBeauty]

Alot of information you can obtain on your own. I'd look in areas where home values have increased or haven't decreased dramatically over the last few years. If you have kids, I look into school districts. Myself, I'd never buy a place where I had to pay HOA's but maybe that is something you'd be interested in so I'd compare amenities and fees in several communities.

 

[supanegro]

[QUF;2674061]Make sure its glued to the ground. You'd hate to have a tornado fly yo ass to Kansas[/QUOTE]

Ur trolling game weak Take that ignorant shyt back to the ic..this is important stuff in this Thread take ur ass toAnothet thread...

Yea but I got a crib on ny not tooo long ago..my advice.
1) 0 points on mortgage
2)fukk fha u can go 5% conventional if elgible
3) buy cheap market is still low... when market back up it will be worth it to flip..

Its so easy to get a crib now all u gotta do is save 20 g's but nigs wan go cop jordans n simp on bytches instead...

 

[supanegro]

Oh and dont get mortgage, attorney through real estate agent... look on ur own

 

[R.E.N. Spells Ren]

What price range are you looking at?

 

[chopchop702]

There are some amazing deals out there on foreclosed and short sale homes. Unfortunately, because of that, the cash strapped investors are out there buying them all out.

If you plan on the doing an FHA (first time home-buyers) loan (which it sounds like you are), you are required to do a minimum of 3.5% down payment.

Because of this, the cash strapped investors will outbid you for a bank owned house. That is, unless you are willing to put more cash down and compete with them.

I have co-workers and friends who have been bidding on houses for up to 2-3 years now and still cant get one. lol.

And then you have many people who got one after 8 months or so.

If you are not in a rush, than my advice to is to try and get one of these bank owned homes. But just know that you may go on a very frustrating ride.

But on the other hand, if you are starting a family and plan on living somewhere for a long long time, then I would go ahead and look at all housing options such as even building a brand new one in a beautiful new neighborhood. Because if your going to be there 15+ years, than what the hell, enjoy the house and area if you live in and prices are STILL pretty good on building a brand new home at the moment.

 

[Shugg84]

Dont put it up along the highways of Louisiana, unless you want it burned down by the time the electric company man comes by to do his job