Advice for a First Time Home Owner? - Page 3 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

2012-1822 · 10-14-2013, 12:38 PM

Further, I think I agree with most of the folks that say get the 30 year and then make extra payments on your own, just in case job situations change. My current mortgage is with Wells Fargo. They suggested I break my payment up into weekly payments, so it's a quarter payment every week. Which means that every time we have five Mondays in a month I make an extra quarter payment. Comes out to about an extra payment a year into the equity. Even though I'm selling, it's a pretty smart way to go.

Make sure you specify any extra payments go to equity though. My sister in law was making extra payments for a short time and when she checked her statement she noticed they were applying the extra to interest payments. That had to be corrected obviously.

honor first · 10-14-2013, 01:08 PM

Quote:

Originally Posted by JohnnyBfromPeoria

Buy a garden hose with a lifetime warranty.

I've been in the same house (first one I looked at) for over 20 years. If you want to play drums, it's the best thing ever.

When you have to improve/replace/fix something, if you buy crap, you get crap. Don't buy crap.

John B.

oddly, this is the best piece of info in here. and dont hit it with your weedwhacker.

shit adds up dude. when i bought my first home about 2 months ago, i moved NOTHING from home, so i had to furnish it, appliances, etc.
but its all the things that you cant skip that i knew were needed, but didnt give much thought; lawn mower, weed whacker, hoses, shovels, etc. things you cant live without

snymat68 · 10-14-2013, 01:34 PM

We're doing a 30yr and put 30% down so no worries there. We're definitely going to be putting a little extra toward each payment. And yeah, I agree, it's all the little things that add up over time. Luckily, other than a push mower and weed whacker (both of which I'll be buying in the spring), we've already got everything we need for day-to-day life. It's the home improvements that will eat up all my mod money. Sigh.

ShnOmac · 10-14-2013, 01:40 PM

Quote:

Originally Posted by snymat68

So my wife and I will be closing on our first house on the 21st! (I think I'm more excited to have a garage again than anything.) Does anyone have any advice for a first-time home owner?

New build?

If so.... during your walk through walk every inch of every wall pointing out all of the "issues".

SSmoothie · 10-14-2013, 11:05 PM

Hire a Electrical, plumbing, building contractor to do inspections on the home to make sure everything is up to code. Ask previous owner to see if anything was remodeled and if they can show the permits and inspections. I go to quite a few home's lately that had work done and it doesn't meet code or no inspections. Once you buy it your responsible for it. Do the home inspection before you buy not afterwards.

10-14-2013, 12:38 PM	#29
2012-1822 Drives: Black ZL1 Join Date: Apr 2013 Location: City of Champions, Alabama Posts: 3,697	Further, I think I agree with most of the folks that say get the 30 year and then make extra payments on your own, just in case job situations change. My current mortgage is with Wells Fargo. They suggested I break my payment up into weekly payments, so it's a quarter payment every week. Which means that every time we have five Mondays in a month I make an extra quarter payment. Comes out to about an extra payment a year into the equity. Even though I'm selling, it's a pretty smart way to go. Make sure you specify any extra payments go to equity though. My sister in law was making extra payments for a short time and when she checked her statement she noticed they were applying the extra to interest payments. That had to be corrected obviously. __________________ Check out Alabama Camaros, for Camaro enthusiasts all around Alabama https://www.facebook.com/groups/1739...group_activity

10-14-2013, 01:34 PM	#31
snymat68 Drives: 2013 Blue Ray 1LS M6 Join Date: Apr 2013 Location: Pittsburgh, PA Posts: 1,227 View My Garage	We're doing a 30yr and put 30% down so no worries there. We're definitely going to be putting a little extra toward each payment. And yeah, I agree, it's all the little things that add up over time. Luckily, other than a push mower and weed whacker (both of which I'll be buying in the spring), we've already got everything we need for day-to-day life. It's the home improvements that will eat up all my mod money. Sigh. __________________ Performance Mods Elite Catch Can \| CAI Intake with Scoop & Washer Bottle Relocation \| MRT v2 Axle-Back Exhaust \| MagnaFlow Resonated X-Pipe \| Resonator Delete \| Vmax Ported Throttle Body \| GM Strut Tower Brace \| JDP Tow Hook \| Vitesse Throttle Controller Aesthetic Mods Chrome Peek-A-Boo Door Handles \| Interior Accessories Kit \| OEM RS HIDs w/ 6000k Bulbs & 5000k LED Fogs \| Tail Light, Marker Light, & Turn Signal Tint \| Tru-Sequence Sequential Turn Signals & Brake Lights \| Silver Fade Gill Stripes \| Carbon Fiber Bowties \| Various Chrome/Painted/Carbon Fiber Items

10-14-2013, 11:05 PM	#33
SSmoothie Drives: 2010 Camaro 2SS/RS 6SP Blk/Blk Join Date: Aug 2009 Location: WA Posts: 920 View My Garage	Hire a Electrical, plumbing, building contractor to do inspections on the home to make sure everything is up to code. Ask previous owner to see if anything was remodeled and if they can show the permits and inspections. I go to quite a few home's lately that had work done and it doesn't meet code or no inspections. Once you buy it your responsible for it. Do the home inspection before you buy not afterwards. __________________