Topic: Give me some home buying tips....I think I'm ready...

[FunJimmy]

I'd consider buying what I have now for dirt spanking cheap and throw in $50,000 on a complete remodel (if not more). The problem, 2 story houses cannot be fixed either, just like locations

I might be missing something here. What's the issue with 2 story homes?

[fendersrule]

I'd consider buying what I have now for dirt spanking cheap and throw in $50,000 on a complete remodel (if not more). The problem, 2 story houses cannot be fixed either, just like locations

I might be missing something here. What's the issue with 2 story homes?

The problem I have is the fact that I reserve some rooms upstairs for certain things. For example there's another office upstairs, as well as my music room. The problem is that I prefer to not go upstairs to do those things, so I play music less often, and use the upstairs less often just because where it's located. When you do make time to go upstairs, you seem to always need to go back downstairs for something. It's annoying.

The second problem I have is the heating/cooling efficiency. That one speaks for itself.

I wouldn't mind a bonus room only upstairs, but when half of your rooms and bathrooms are upstairs it's annoying.

[FunJimmy]

The problem I have is the fact that I reserve some rooms upstairs for certain things. For example there's another office upstairs, as well as my music room. The problem is that I prefer to not go upstairs to do those things, so I play music less often, and use the upstairs less often just because where it's located. When you do make time to go upstairs, you seem to always need to go back downstairs for something. It's annoying.

The second problem I have is the heating/cooling efficiency. That one speaks for itself.

I wouldn't mind a bonus room only upstairs, but when half of your rooms and bathrooms are upstairs it's annoying.

Consider it an architecturally inspired Heath/fitness plan. Two story dwellers live longer. Unless they drink excessively and fall down the stairs.

BTW, hot air rises. Heating the main floor will subsequently heat the upper more efficiently than heating all one level.

[fendersrule]

Interesting info. We both just hate 2 story houses. I grew up in one. Don't care to live in one again.

You're logic is sound when it's the winter. But during summers, 2-story houses suffer hard.

[Stev-o]

Two story homes have there place, perfect for families in my opinion. Our daughter has her own level and quite a bit of privacy and so do we.

Two story homes can be cheaper per sq ft to build, it's typically less expensive to build up than out.

You'd hate our "upside down" house, Fenders.  The master bedroom, kitchen, dining and living rooms are all upstairs.  This is very common in our area, the views from the upper level of the surrounding hills and lake are awesome. 

[FunJimmy]

Interesting info. We both just hate 2 story houses. I grew up in one. Don't care to live in one again.

You're logic is sound when it's the winter. But during summers, 2-story houses suffer hard.

I live in winter. 

[billingstitan]

You can pay your PMI upfront and just roll it into the loan - it shouldn't run you more than $2-4K tops on a $180,000 house. Plus you can deduct that sh*t right off your taxes.

Also - you are not counting the tax savings when you're figuring your rental expenses. You should gain at least $100 a month and prob more from your mortgage interest and property tax deduction. If you can't come up w/ 20 percent down, then just put down enough to get you the best rate, and hold the rest as a cash reserve. You can always pay down the loan in cash if needed. You'll need a good sized nut when you move in, even if you think you've got it all figured, extra expenses always pop up.

If you're a wage earner - a house if about the only deduction we get. Good luck!

[Retro Rocket]

Interesting info. We both just hate 2 story houses. I grew up in one. Don't care to live in one again.

You're logic is sound when it's the winter. But during summers, 2-story houses suffer hard.

If that were fact where i live there would be NO 2 story houses, in fact, 2 story houses usually have better ventilation, at the moment we are into the first month of winter here and have 80 degree days still, 120 in summer is not uncommon and there are 2 story houses everywhere around me, mines split level... I gather you do have insulation and ventilation in your 2 story houses in the US....?

[nccb]

Interesting info. We both just hate 2 story houses. I grew up in one. Don't care to live in one again.

You're logic is sound when it's the winter. But during summers, 2-story houses suffer hard.

If that were fact where i live there would be NO 2 story houses, in fact, 2 story houses usually have better ventilation, at the moment we are into the first month of winter here and have 80 degree days still, 120 in summer is not uncommon and there are 2 story houses everywhere around me, mines split level... I gather you do have insulation and ventilation in your 2 story houses in the US....?

Are you crazy? Installation adds about 50k over here8-)

[sangyo soichiro]

The shorter the mortgage, the more money you'll save.  15 year in the long run is better than a 30 year mortgage. 

Here's a simply way to figure out what you're really paying for the house, as opposed to the selling price.  Simply take your monthly payments that the bank estimates for you and add them up over the total number of months you'll be paying them.  You'll likely see that you are paying almost double what the selling price is.     But do this for a 15 year mortgage and a 30 year, and you'll see that the overall price for the 15 is much smaller than the 30.

Just my 2 cents for saving $.

[krusty]

You can save on interest by making payments fortnightly rather than monthly. Weekly is even better.

[Duke McDukiedook]

+1 on tile in areas that have water- kitchens, laundry, bathroom.
I am not a fan of wood in kitchens, but to each his own.

[Stev-o]

+1 on tile in areas that have water- kitchens, laundry, bathroom.
I am not a fan of wood in kitchens, but to each his own.

Seems Mick is the only one who likes wood in the kitchen. Do you have it, Mick?

[Retro Rocket]

+1 on tile in areas that have water- kitchens, laundry, bathroom.
I am not a fan of wood in kitchens, but to each his own.

Seems Mick is the only one who likes wood in the kitchen. Do you have it, Mick?

Concrete kitchen floor with white ceramic tiles, there are lots of wooden floored homes here Steve, Our hard wood is far harder than yours so i suspect that helps, but like i said, with the right coating, water isn't a problem....

[krusty]

Have owned a few homes  and renovated a few. All have had wood floors. Never been a problem. Present kitchen floor is compressed wood particle flooring covered with vinyl.
Bathroom floors are a different thing altogether. Usually reinforced concrete or compressed cement sheeting. Many homes here are now built on concrete slab otherwise wood floors are the norm.
One home I renovated had a bathroom that was added in 1935. It had a cast iron bathtub sitting on a bare hardwood floor, no covering or sealer. The timber was perfect and I reused it for an outdoor deck.
 Maybe you have a few crap plumbers over there and the wood's not hard enough.