Potentially buying a first home

[RampageWSU]

The wife and I put in an offer on a house we really like, and expect it to be accepted relatively quickly. It'll be our first home purchase. Here are some highlights:

We can afford a house roughly 2x the amount we're offering...but we're operating on the "let's be safe, just in case one of us loses our job one day" philosophy.

We already have preapproval for way more than we need.

We're paying a reputable home inspector to do a thorough inspection of the home (upon the offer being accepted), and our offer is contingent on the results of the inspection.

My wife's father is a lawyer, and he has drawn up the offer, and will draw up the contract (as stipulated by the offer).


Those are the fine points so far. Are we missing anything significant so far in you opinions?

[RoyalShock]

Sounds like you have a very good approach to it. The only thing I would add is that if the inspector finds anything you expect the seller to resolve, put it in the contract.

[Dan]

I'll throw in my 2 cents. If it's an older home, expect the inspector to find issues, that's what they're paid to do. Get quotes to make whatever repairs you think are necessary, some may be major (roof, foundation, etc.), some may be repairs you can live with or deal with later. Don't let small items kill the deal because part of owning a home, especially if it's older, is that there are constantly items to repair - be sure you are thinking about that. The age of the a/c, roof, hot water heater, appliances, etc - these are all big ticket items, so know what you're getting into.

[rrshock]

And also remember that there is always going to be things you want to do so don't get too picky. There will be things that need fixed even on a relatively new house as well.

[BostonWu]

Pay attention to the condition of the windows. If your inspector is any good then that will certainly be covered.

[RampageWSU]

I'll throw in my 2 cents. If it's an older home, expect the inspector to find issues, that's what they're paid to do. Get quotes to make whatever repairs you think are necessary, some may be major (roof, foundation, etc.), some may be repairs you can live with or deal with later. Don't let small items kill the deal because part of owning a home, especially if it's older, is that there are constantly items to repair - be sure you are thinking about that. The age of the a/c, roof, hot water heater, appliances, etc - these are all big ticket items, so know what you're getting into.

I should have thrown these points in:

Built in 2004

Roof is 2 yrs old (massive hailstorm a few years ago...nearly everyone in town got a new roof)
AC is 3 years old
Heater is 4 years old

She is taking the Fridge (which is no biggie)
Range / stove stay (which I think are newer)
Dishwasher is probably 4-5 years old.

She is offering a home warranty, which would be 2 yrs.

[rrshock]

Those all seem to be in your favor. The house is also old enough that the bugs should be all showing by now. Remember that appliances don't last near as long anymore and water heaters last less than 10 years now. The warranty will hopefully cover a new hot water tank.

[ShockTalk]

It also doesn't hurt to know who the builder is, whether people are generally satisfied with his work or there's been a large amount of complaints, and is he still around, if not, why.

I'm a little surprised that if the home was built in 2004 that the AC was replaced after only 4-5 years, the water heater after 4, and the dishwasher after 3-4 years. That just doesn't sound right. We built our home in 1996, replaced one of two AC units 2 years ago, the dishwasher last year, and, surprisingly, the original water heater is still doing fine (although we're going to replaced it for a more effecient one).

Has the carpet been replaced? That's an item most builders go on the cheap with, but that doesn't mean it won't be expensive to replace. If it has been replaced, see if they still have records on the grade of carpet and pad. I know someone already mentioned it, but the windows are important. Very common problem is rot.

[Capitol Shock II]

If there's a homeowners association, make sure that the home is in compliance with the covenants before you make the purchase. And if they have a neighborhood watch established, don't wear a hoody when you go to get the mail.

[kcshocker11]

Just make sure you run a mechanical and structural inspection (assuming a termite inspection is required). Rem the agent who listed the house is most likely only a sellers agent(obligated to get the best deal for the seller). Home warranty is a plus. The inspector should walk the roof, look at cracking in foundation, check furnace /air, sloping of yard near foundation, circuit box, and check for termite damage, check electrical outlets among other things. The inspector should also go into the attic and crawl space if there is no basement. You should attend the inspections. The homeowner should supply you with a sellers disclosure statement telling you of any problems they know about.

[JJClamdip]

It also doesn't hurt to know who the builder is.

I know someone already mentioned it, but the windows are important. Very common problem is rot.

A lot of the guys that were building in the early 2000's are gone because of the downturn that hit in 08.

Yes and the windows can be a huge problem, right now we are dealing with an owner that had a house built in 09 and it is going to be over 100K to replace the junk that they installed. In this market in that vintage they are probably casement windows and may be wood primed. Make sure that they check the sills and sashes for deterioration. If they are aluminum clad they can be a big problem because of water behind the cladding doing damage and it cannot be seen. If they are vinyl they will be early model units that could also give you problems, mainly seal failure of the IG but interior weather-stripping and operators could be an issue also.

I would want the builders name and brand of windows that are in the home from the owner.

PM me when you get that information and I would be glad to help. I promise I will not try to sell you anything just helping a fellow Shocker fan.

[kcshocker11]

A lot of the guys that were building in the early 2000's are gone because of the downturn that hit in 08.

Yes and the windows can be a huge problem, right now we are dealing with an owner that had a house built in 09 and it is going to be over 100K to replace the junk that they installed. In this market in that vintage they are probably casement windows and may be wood primed. Make sure that they check the sills and sashes for deterioration. If they are aluminum clad they can be a big problem because of water behind the cladding doing damage and it cannot be seen. If they are vinyl they will be early model units that could also give you problems, mainly seal failure of the IG but interior weather-stripping and operators could be an issue also.

I would want the builders name and brand of windows that are in the home from the owner.

PM me when you get that information and I would be glad to help. I promise I will not try to sell you anything just helping a fellow Shocker fan.

Inspecter should pick this up

[JJClamdip]

Inspecter should pick this up

I have been in and around the homebuilding building business for over 40 years and you would be surprised the number miss that stuff.

[_kai_]

I have been in and around the homebuilding building business for over 40 years and you would be surprised the number miss that stuff.

+1 Inspectors miss stuff ALL the time.

[EAGLE]

Make sure you have it surveyed so you know exactly where your property lines are. If not you may find your fence or something else on your nieghbors lot or the other way around.