The I need to buy a house thread

A_B · Post by **A_B** » Tue Feb 01, 2022 1:31 pm

Johnnie wrote: Tue Feb 01, 2022 1:17 pm BFJ, that's basically what goes on out here. My buddy got a home in neighboring Marana. He and his wife didn't mind the process, but some of the builders were dicks when it came to what they wanted.

Like, for example, it's a 2 story house. Under the stairs is a closet. My buddy and his wife wanted the closet tiled, but the plan was to do carpet. Despite there being enough tile, the contractors refused. It took going to the project manager to get that done.

If the contractors building the homes have to deviate in the slightest way, they are going to get mad. So potentially be ready for that.

Well I sure as shit wouldn't tile a closet without being paid for it. We were able to pick all of those things out, but yeah, I anticipate if we said...hey use that tile for this thing it wasn't supposed to be in I'd probably get a hearty fuck you from the contractor, too.

Johnnie · Post by **Johnnie** » Tue Feb 01, 2022 1:46 pm

A_B wrote: Tue Feb 01, 2022 1:31 pm
Johnnie wrote: Tue Feb 01, 2022 1:17 pm BFJ, that's basically what goes on out here. My buddy got a home in neighboring Marana. He and his wife didn't mind the process, but some of the builders were dicks when it came to what they wanted.

Like, for example, it's a 2 story house. Under the stairs is a closet. My buddy and his wife wanted the closet tiled, but the plan was to do carpet. Despite there being enough tile, the contractors refused. It took going to the project manager to get that done.

If the contractors building the homes have to deviate in the slightest way, they are going to get mad. So potentially be ready for that.
Well I sure as shit wouldn't tile a closet without being paid for it. We were able to pick all of those things out, but yeah, I anticipate if we said...hey use that tile for this thing it wasn't supposed to be in I'd probably get a hearty fuck you from the contractor, too.

Well, there's a bit more to it than that, but it's quite the oversized closet. Something also changed with it to where they were able to elongate it with the slant of the stairway instead of squaring it up. They saved themselves the wood and drywall, but didn't want to continue with the tiling to make it identical to the very large hallway and living area that's tiled. And there's only carpet in the upstairs part of the house, so carpet never made sense.

I'm also trying to pull this from memory, so I'm sure I'm missing something.

All that to say, if you're working with the contractors the builders hired, be ready for pushback with anything.

The Sybian · Post by **The Sybian** » Tue Feb 01, 2022 1:55 pm

Sabo wrote: Tue Feb 01, 2022 1:06 pm IMO, if you're building a new house, you're better off spending more money on a better/stronger foundation, better roof system (i.e., architectural shingles) and insulation. You'll save money on heating and electric and have fewer problems in the long run. It's also much cheaper to renovate the interior than have to upgrade the foundation, so you're better off making sure those systems will outlive you.

If you plan on staying for 30 years, absolutely. If you plan on selling in less than 10 years, I'm sure most people would rather enjoy the upgraded interior stuff and let the next owner worry about the foundation cracks, leaking roof and crumbling plumbing.

Post by **Sabo** » Tue Feb 01, 2022 2:04 pm

The Sybian wrote: Tue Feb 01, 2022 1:55 pm
Sabo wrote: Tue Feb 01, 2022 1:06 pm IMO, if you're building a new house, you're better off spending more money on a better/stronger foundation, better roof system (i.e., architectural shingles) and insulation. You'll save money on heating and electric and have fewer problems in the long run. It's also much cheaper to renovate the interior than have to upgrade the foundation, so you're better off making sure those systems will outlive you.
If you plan on staying for 30 years, absolutely. If you plan on selling in less than 10 years, I'm sure most people would rather enjoy the upgraded interior stuff and let the next owner worry about the foundation cracks, leaking roof and crumbling plumbing.

Also true, but I'm inclined to think people who are building a new house plan to stay there a while.

A_B · Post by **A_B** » Tue Feb 01, 2022 2:11 pm

Sabo wrote: Tue Feb 01, 2022 2:04 pm
The Sybian wrote: Tue Feb 01, 2022 1:55 pm
Sabo wrote: Tue Feb 01, 2022 1:06 pm IMO, if you're building a new house, you're better off spending more money on a better/stronger foundation, better roof system (i.e., architectural shingles) and insulation. You'll save money on heating and electric and have fewer problems in the long run. It's also much cheaper to renovate the interior than have to upgrade the foundation, so you're better off making sure those systems will outlive you.
If you plan on staying for 30 years, absolutely. If you plan on selling in less than 10 years, I'm sure most people would rather enjoy the upgraded interior stuff and let the next owner worry about the foundation cracks, leaking roof and crumbling plumbing.
Also true, but I'm inclined to think people who are building a new house plan to stay there a while.

New to the McMansion world, I see.

testuser2 · Post by **testuser2** » Tue Feb 01, 2022 5:34 pm

bfj wrote: Tue Feb 01, 2022 1:29 pm I’m not ready for any of this shit yet!

It will be great having it all the way you want it. No repairs/renovations to deal with.

After its built make sure you have them back out to fix whatever doesn't work perfectly. Otherwise you pay for it later. We had them come out a year later and repaint nail holes in trim, fix an ice jam, replace a window, etc...

bfj · Post by **bfj** » Tue Feb 22, 2022 12:47 pm

Update: We ended up walking away from the house after the base price of the model we were going to buy increased by $20k as we were getting our paperwork together to get our financing in order. Since we didn't put a deposit down the first day we were there, as each house in the development sold, the base price of the one we were looking at would go up 5k. We were already at the top of our budget as it was and adding another 20K was sort of the final nail in that coffin. I know 20k over 15 or 30 years isn't a big deal, but we set a budget for ourselves and couldn't justify any more at that point. Very disappointing, but there will be other houses.

The sales manager said that 2 years ago, that would never happen. But with the market the way it is, "Corporate" decided to implement this policy.

tennbengal · Post by **tennbengal** » Tue Feb 22, 2022 1:19 pm

well that sucks, sorry BFJ.

HaulCitgo · Post by **HaulCitgo** » Tue Feb 22, 2022 1:22 pm

Nah thats perfect BFJ. Exactly how you get a fair deal. Walkaway two more times and youre golden. Rates though.

P.D.X. · Post by **P.D.X.** » Tue Feb 22, 2022 1:28 pm

Set to close sale on my Portland condo on Friday... doing paperwork and realized that's 18 years to the exact day when I closed the purchase.

Steve of phpBB · Post by **Steve of phpBB** » Tue Feb 22, 2022 1:53 pm

I'm sorry that fell through, BFJ, though it sounds like you made the right choice.

Are there any other options in the area?

bfj · Post by **bfj** » Tue Feb 22, 2022 2:12 pm

Steve of phpBB wrote: Tue Feb 22, 2022 1:53 pm I'm sorry that fell through, BFJ, though it sounds like you made the right choice.

Are there any other options in the area?

Not new construction. Lots of older houses that need work and I am no good at handyman shit and I don’t know many contractors. The idea of move in ready was the real appeal of this place.

bfj · Post by **bfj** » Tue Feb 22, 2022 2:21 pm

HaulCitgo wrote: Tue Feb 22, 2022 1:22 pm Nah thats perfect BFJ. Exactly how you get a fair deal. Walkaway two more times and youre golden. Rates though.

I agree. I’m fortunate in that I don’t HAVE to move anytime soon. We are ready to jump at the next good opportunity.

Johnnie · Post by **Johnnie** » Sun Apr 03, 2022 11:17 pm

It's looking like the wife and I found a place. We're pretty psyched!

Come July I will have been back stateside for a year. Initially, my wife and I were going to ride it out in this dinky apartment, but after stopping by the leasing office to see what rent was going to be when the time came to renew, it would be jumping substantially. (They froze rent increases last year during the pandemic and we didn't realize that. We signed an extra year on the lease under extremely favorable rates by dumb luck. But now rent will catch up to cost of living -- basically a couple hundred off a mortgage payment for a decent house.)

Soooo that, coupled with friends of ours who have been looking at houses, gave us the idea to see what we can get right now.

We checked out spots in the neighboring city of Vail because there's a bunch of new developments going up. Yesterday we saw one that is one price on Zillow, but $9k more when you walk into the office -- see BFJ's "Corporate decision" heartburn above. That rubs me the wrong way. While it's nice, I still felt the need to look today. And I'm glad we did.

There's a place that's $21k cheaper and is actually ~$25k cheaper when compared to similar plans in the same division, has outstanding upgraded amenities, a bigger lot, and much closer to the highway. Estimated completion is in July which coincides with our lease ending and my terminal leave beginning. Add all of that to the VA loan I'll use plus the negation of the VA funding fee because I'll be >10% disabled when retired and with the pretty big down payment we've saved, it's a wrap.

sancarlos · Post by **sancarlos** » Mon Apr 04, 2022 12:06 am

Congrats, man.

Giff · Post by **Giff** » Mon Apr 04, 2022 11:22 am

Great news, Johnnie!

Steve of phpBB · Post by **Steve of phpBB** » Mon Apr 04, 2022 11:56 am

That's fantastic, Johnnie. Congrats.

The Sybian · Post by **The Sybian** » Mon Apr 04, 2022 12:05 pm

Johnnie wrote: Sun Apr 03, 2022 11:17 pm Add all of that to the VA loan I'll use plus the negation of the VA funding fee because I'll be >10% disabled when retired and with the pretty big down payment we've saved, it's a wrap.

Illiteracy counts as a disability? (Cross-thread joke))

Sounds like a great deal, congrats! With construction scheduled to complete at the same time your lease ends, make sure you have a backup plan for a temporary place to stay in case the construction doesn't finish on time.

Johnnie · Post by **Johnnie** » Mon Apr 04, 2022 1:38 pm

The Sybian wrote: Mon Apr 04, 2022 12:05 pm
Johnnie wrote: Sun Apr 03, 2022 11:17 pm Add all of that to the VA loan I'll use plus the negation of the VA funding fee because I'll be >10% disabled when retired and with the pretty big down payment we've saved, it's a wrap.
Illiteracy counts as a disability? (Cross-thread joke))

Sounds like a great deal, congrats! With construction scheduled to complete at the same time your lease ends, make sure you have a backup plan for a temporary place to stay in case the construction doesn't finish on time.

I Я abul to reed!

Anyhoo, thanks, Frogs. The contingency in the event there's a delay is a month-to-month at my current apartment. So I'm covered there.

Here's the floorplan:

I don't believe the additional options are added. That den is about to be an awesome game room pending everything shakes out properly. 2160 SQ ft, if you're wondering.
.

: PSX_20220404_113602.jpg (75.35 KiB) Viewed 2859 times

mister d · Post by **mister d** » Mon Apr 04, 2022 1:58 pm

Unless you (1) do a full gut reno or (2) live in an apartment, the kitchen + TV room combo is pretty rare up here so I'm jealous of that. Congrats.

The Sybian · Post by **The Sybian** » Mon Apr 04, 2022 2:33 pm

mister d wrote: Mon Apr 04, 2022 1:58 pm Unless you (1) do a full gut reno or (2) live in an apartment, the kitchen + TV room combo is pretty rare up here so I'm jealous of that. Congrats.

I got lucky in my previous house, there was an addition off the kitchen for a family room. I think that has been standard for anything built in the last 15+years. It's a huge plus for preparing food and entertaining for sure. Looks great Johnnie. How long before your wife goes in the closet while you're taking a shit and banishes you to another bathroom?

Johnnie · Post by **Johnnie** » Mon Apr 04, 2022 2:39 pm

mister d wrote: Mon Apr 04, 2022 1:58 pm Unless you (1) do a full gut reno or (2) live in an apartment, the kitchen + TV room combo is pretty rare up here so I'm jealous of that. Congrats.

Yea, homes out here can just be built without space constraints. The open concept of everything is so nice. And it didn't dawn on me until after we looked, but my wife made the comment that we can see the TV while we cook. The other floor plans didn't have that.

The Sybian wrote: Mon Apr 04, 2022 2:33 pmI got lucky in my previous house, there was an addition off the kitchen for a family room. I think that has been standard for anything built in the last 15+years. It's a huge plus for preparing food and entertaining for sure. Looks great Johnnie. How long before your wife goes in the closet while you're taking a shit and banishes you to another bathroom?

Lol. I guess we'll see! I think I'll just use the other bathroom as a standard.

A_B · Post by **A_B** » Mon Apr 04, 2022 3:33 pm

Johnnie wrote: Mon Apr 04, 2022 2:39 pm
Lol. I guess we'll see! I think I'll just use the other bathroom as a standard.

YOU USE WHATEVER SHITTER YOU WANT. This is shit that leads to tiny pocket dogs you have to tend to while she shops.

Johnnie · Post by **Johnnie** » Tue Apr 12, 2022 5:59 pm

Meant to post that we signed the contract and did the earnest money Sunday. We're very excited!

(Interesting note: I bid and won on my first house in ABQ on my Dad's birthday. And this time around we were given the green light to go under contract on my mom's birthday.)

Now comes the game of bouncing mortgage lenders off of each other for the best rate in these times when they keep going up. The VA loan is going to come in clutch again, but until I have a VA rating I don't think I can immediately escape the funding fee.

I wish I could lock in with a rate today, but the house won't be finished for another couple months, so we have to hope for the best in the meantime. 😬

But it's ok, I'm prepared for such contingencies because I didn't spend all that much money when I was Korea.

P.D.X. · Post by **P.D.X.** » Tue Apr 12, 2022 6:36 pm

Johnnie wrote: Tue Apr 12, 2022 5:59 pm Now comes the game of bouncing mortgage lenders off of each other for the best rate in these times when they keep going up.

Get a broker to compete as well... they can usually get rates below what straight lenders can.

govmentchedda · Post by **govmentchedda** » Tue Apr 12, 2022 8:05 pm

P.D.X. wrote: Tue Apr 12, 2022 6:36 pm
Johnnie wrote: Tue Apr 12, 2022 5:59 pm Now comes the game of bouncing mortgage lenders off of each other for the best rate in these times when they keep going up.
Get a broker to compete as well... they can usually get rates below what straight lenders can.

Seconded

Johnnie · Post by **Johnnie** » Tue Apr 12, 2022 8:33 pm

How the fuck have I never known this?

Any recommendations?

Thanks, Frogs.

Edit

I'm Googling and only getting lenders. I've already went through NOVA home loans which keeps popping up as a broker. Weird.

A_B · Post by **A_B** » Wed Apr 13, 2022 7:19 am

Johnnie wrote: Tue Apr 12, 2022 8:33 pm How the fuck have I never known this?

Any recommendations?

Thanks, Frogs.

Edit

I'm Googling and only getting lenders. I've already went through NOVA home loans which keeps popping up as a broker. Weird.

You have to wade past the first few google results I bet. I'm sure the SEO minions have done their dirty work to push brokers down past lenders.

wlu_lax6 · Post by **wlu_lax6** » Wed Apr 13, 2022 8:03 am

This is a bizarre story

https://www.axios.com/local/washington- ... -800k-cash

mister d · Post by **mister d** » Wed Apr 13, 2022 9:03 am

Johnnie wrote: Tue Apr 12, 2022 8:33 pmI'm Googling and only getting lenders. I've already went through NOVA home loans which keeps popping up as a broker. Weird.

Can you ask your/a realtor? That's how we got our guy.

Johnnie · Post by **Johnnie** » Wed Apr 13, 2022 9:17 am

mister d wrote: Wed Apr 13, 2022 9:03 am
Johnnie wrote: Tue Apr 12, 2022 8:33 pmI'm Googling and only getting lenders. I've already went through NOVA home loans which keeps popping up as a broker. Weird.
Can you ask your/a realtor? That's how we got our guy.

I can certainly do that. Although she was the one that recommended NOVA initially.

(So far they seem to be offering a competitive rate, so it's not that bad. But if I can do better, I'd obviously want that.)

The Sybian · Post by **The Sybian** » Wed Apr 13, 2022 9:43 am

wlu_lax6 wrote: Wed Apr 13, 2022 8:03 am This is a bizarre story

https://www.axios.com/local/washington- ... -800k-cash

Holy hell, who would buy that? Not allowed to see the bottom floor? Must allow squatters in the basement to stay without a lease or charging them rent? I could only see that selling as a teardown, but the squatters provision puts a crimp in that idea.

wlu_lax6 · Post by **wlu_lax6** » Wed Apr 13, 2022 11:26 am

The Sybian wrote: Wed Apr 13, 2022 9:43 am
wlu_lax6 wrote: Wed Apr 13, 2022 8:03 am This is a bizarre story

https://www.axios.com/local/washington- ... -800k-cash
Holy hell, who would buy that? Not allowed to see the bottom floor? Must allow squatters in the basement to stay without a lease or charging them rent? I could only see that selling as a teardown, but the squatters provision puts a crimp in that idea.

Well contract already accepted. This is probably 20% off market. So 200K for costs to evict and refurbish (sale as is) could make it a deal. But in this area I bet home builder is going to knock it down and build a 2M craftsman style house. They wanted a cash offer which also points to that. How did Axios not get someone to interview the neighbors.

Johnnie · Post by **Johnnie** » Thu Apr 21, 2022 1:39 pm

NO NO NO NO NO NO.

FUCKING NO.

mister d · Post by **mister d** » Thu Apr 21, 2022 1:54 pm

It could actually work for you? If interest rates go up and potential buyers start dropping out, prices go down, you buy lower and then (hopefully) refinance in the near-ish term? Always better to have a higher rate than a higher purchase price because only one side can change.

Johnnie · Post by **Johnnie** » Thu Apr 21, 2022 2:48 pm

mister d wrote: Thu Apr 21, 2022 1:54 pm It could actually work for you? If interest rates go up and potential buyers start dropping out, prices go down, you buy lower and then (hopefully) refinance in the near-ish term? Always better to have a higher rate than a higher purchase price because only one side can change.

Wife and I are already locked in a new build at its listed price. It was already reduced compared to other models, so it's very unlikely to reduce again.

The only thing working for me right now is that VA loans are better than anything else going.

We're literally having to wait on time so that we can lock in when it's fiscally sensible. House is built in July, so, like mid May.

We'll see though.

Johnnie · Post by **Johnnie** » Thu May 12, 2022 2:43 pm

Just got the call that my new place will have a closing date of June 27. Very excite!

Now to just figure out the math on the APR. Waiting for the rates from my broker.

Giff · Post by **Giff** » Thu May 12, 2022 3:24 pm

Good chance I'm driving through (or stopping there) on the 24th, so celebratory beer?

The Sybian · Post by **The Sybian** » Thu May 12, 2022 3:26 pm

Giff wrote: Thu May 12, 2022 3:24 pm Good chance I'm driving through (or stopping there) on the 24th, so celebratory beer?

Push it your trip back 3 days so Johnnie can have you sleeping on his couch his first night ion the new house!

A_B · Post by **A_B** » Thu May 12, 2022 3:26 pm

The Sybian wrote: Thu May 12, 2022 3:26 pm
Giff wrote: Thu May 12, 2022 3:24 pm Good chance I'm driving through (or stopping there) on the 24th, so celebratory beer?
Push it your trip back 3 days so Johnnie can have you sleeping on his couch his first night ion the new house!

Push it back two days and you can help him move! You got a truck!