House Hunting

**vashti** · 26-01-06, 04:28 AM

I would love to have that house to renovate. I bet it would be a really good house with work...

**alice** · 26-01-06, 04:37 AM

yes, if you've got like 150 years to work on it, it might …

**vashti** · 26-01-06, 04:44 AM

Nah - my sister bought a house in Massachusetts that was 120 years old and renovated the whole thing in about a year. Of course, she hired out the bigger jobs. She made a HUGE profit in the end.

**Rosebud** · 26-01-06, 05:04 AM

Oh yea, if you have the money to do it, it's a good investment to make! I prefer the ones with less renovation for my first house though!

indigosoul · 26-01-06, 05:51 AM

Rosebud,

Everyone has been giving great advice, but there is sooo much involved in purchasing a first home. Apart from the house, there is dealing w/realtors, mortgage lawyers, banks, inspections, potential problems with the purchase & what to look out for....

I would STRONGLY suggest that you purchase the book "Home/House Buying for Dummies" (I can't remember the exact title). Get it, and read it immediately. We found this book invaluable. It has lots of info on negotiating your mortgage also (make sure your payments are WEEKLY to decrease your interest payments).

Regarding % of income, we always made sure that either one of us, alone, could afford to make the minimum mortgage payments. This will ensure enough $$ to do renos, take time off for children, or simply to have a life (besides your house). Good luck!

**Lloyd95** · 26-01-06, 05:55 AM

Originally Posted by indigosoul

I would STRONGLY suggest that you purchase the book "Home/House Buying for Dummies"

Too funny!

indigosoul · 26-01-06, 06:00 AM

Hey!! You calling ME a Dummie Lloyd??

(see if I let you wash my thongs now...)

'Tis better to be a Dummie BEFORE and do something about it, than to BECOME one after the fact...

**Lloyd95** · 26-01-06, 06:01 AM

No, no, not you. Blondie.

indigosoul · 26-01-06, 06:02 AM

Originally Posted by Lloyd95

No, no, not you. Blondie.

Hmmm... guess you won't be washing HER thongs either...

**Rosebud** · 26-01-06, 06:07 AM

Lloyd just has his panties in a ruffle because his secret is out!

Indi, yea I'm pretty good with money and budgeting and that was the first thing I looked at was basing what we can afford off one person just in case. We are still in the beginning processes of this and I know everything takes time, becasue there is so much to do and figure out, but like I said I can use any help at all on all this stuff becasue there are so many things you have to take into consideration.

I'm getting smarter about all this stuff (SHUT UP LLOYD) after dealing with the last mortgage lender. He tried telling me our interest would 7.75% and we had to pay a $350 application deposit which is supposedly for the appraisal....he can kiss my *you know what*.

indigosoul · 26-01-06, 06:09 AM

Originally Posted by Rosebud

Lloyd just has his panties in a ruffle because his secret is out!

Indi, yea I'm pretty good with money and budgeting and that was the first thing I looked at was basing what we can afford off one person just in case. We are still in the beginning processes of this and I know everything takes time, becasue there is so much to do and figure out, but like I said I can use any help at all on all this stuff becasue there are so many things you have to take into consideration.

I'm getting smarter about all this stuff (SHUT UP LLOYD) after dealing with the last mortgage lender. He tried telling me our interest would 7.75% and we had to pay a $350 application deposit which is supposedly for the appraisal....he can kiss my *you know what*.

Get the book. Seriously. Best $20 you will ever spend. We have lent out this book numerous times...there are great tips about how to deal w/these people.

**Rosebud** · 26-01-06, 06:11 AM

lol... I just looked at the top of LF and there's all kinds of "Dummies" books!!! LOL

Edit: Is it this one? [url]http://www.dummies.com/WileyCDA/DummiesTitle/productCd-0471768472.html[/url]

indigosoul · 26-01-06, 06:16 AM

Originally Posted by Rosebud

lol... I just looked at the top of LF and there's all kinds of "Dummies" books!!! LOL

Edit: Is it this one? [url]http://www.dummies.com/WileyCDA/DummiesTitle/productCd-0471768472.html[/url]

Yes. That one. Their car buying book is also very good, tho perhaps not as big a deal since the sums involved in a car are about 10X less.

**Rosebud** · 26-01-06, 07:04 AM

All those books are great. They explain everything so well! Thanks Indi!

Tone · 26-01-06, 09:34 PM

My boss bought me "Poker for Dummies" book for Christmas.

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