Biscuit seeks Home Buying Advice

The French Biscuit · Post by **The French Biscuit** » Wed Nov 17, 2010 8:38 pm

Yes, she does.

I might be buying a house in the near future, and could use a few extra words of wisdom.

If ya got em, share em.

MGM · Post by **MGM** » Thu Nov 18, 2010 12:49 am

Get one in Holland, and let me design it.

ChimeraCreative · Post by **ChimeraCreative** » Thu Nov 18, 2010 1:26 am

Adam and I are considering buying a place in the near future... I think. (plans change on an hourly basis for us).

I'm rather helpless/hopeless on the financial side of things. However, lemme remind you that when you get a place, you have it all year long. So that big, adorable backyard you might love? Hope you love mowing it as well. Driveway big enough for two cars? Shoveling snow in the winter. >.< I've seen folks overlook these things before.

I assume you'll wanna spring for a home inspection before you buy a place, or have a relative/friend do the leg work with you/for you. To check the condition of the roof, the foundation, etc.

Mr Wallstreet · Post by **Mr Wallstreet** » Thu Nov 18, 2010 8:51 am

Definitely what CC said: get the house inspected first, by someone YOU hire. The person should be completely independent and not related to you or the owners in any way. Don't let the current owners pick out the inspector or take their word on the condition of the house.

Probably the biggest issue in the U.S. is getting a good interest rate. Make sure you get a good interest rate on your house because that mean the difference between making manageable payments or losing your home.

Also remember that monthly mortgage payments to the bank are not the only expenses you'll have. You'll also need to pay for water, gas, utilities, phone, internet, food other & miscellaneous weekly/monthly expenses.

When you do decide on a house and have a rough idea of how much your monthly mortgage is, sit down and calculate what your entire monthly expenses will be and see if they are reasonable/manageable. Many people neglect to add in all the other expenses they have when buying a home & then are shocked to discover they don't have enough money to pay this or that.

Sandman · Post by **Sandman** » Thu Nov 18, 2010 7:12 pm

if you need a room mate let me know!

ChimeraCreative · Post by **ChimeraCreative** » Thu Nov 18, 2010 7:43 pm

Yeah, like you'd ever get up to Canada, Mike. pffft.

The French Biscuit · Post by **The French Biscuit** » Thu Nov 18, 2010 7:53 pm

MGM wrote:Get one in Holland, and let me design it.

That's one hell of a commute to Moosomin, but I will keep it in mind.

The French Biscuit · Post by **The French Biscuit** » Thu Nov 18, 2010 7:57 pm

ChimeraCreative wrote:Adam and I are considering buying a place in the near future... I think. (plans change on an hourly basis for us).

I'm rather helpless/hopeless on the financial side of things. However, lemme remind you that when you get a place, you have it all year long. So that big, adorable backyard you might love? Hope you love mowing it as well. Driveway big enough for two cars? Shoveling snow in the winter. >.< I've seen folks overlook these things before.

I assume you'll wanna spring for a home inspection before you buy a place, or have a relative/friend do the leg work with you/for you. To check the condition of the roof, the foundation, etc.

Really? I was totally set on a buying something when I moved here. Renting just feels like throwing my money away and rent here in Moosomin is ridiculous.

The snowstorm that just hit today reminded me of how much work there would be in having my own home.

Good news is, the driveway is short and I had to mow a bigger lawn back on the farm so this one will be way more manageable.

The French Biscuit · Post by **The French Biscuit** » Thu Nov 18, 2010 8:07 pm

Mr Wallstreet wrote:Definitely what CC said: get the house inspected first, by someone YOU hire. The person should be completely independent and not related to you or the owners in any way. Don't let the current owners pick out the inspector or take their word on the condition of the house.

Probably the biggest issue in the U.S. is getting a good interest rate. Make sure you get a good interest rate on your house because that mean the difference between making manageable payments or losing your home.

Also remember that monthly mortgage payments to the bank are not the only expenses you'll have. You'll also need to pay for water, gas, utilities, phone, internet, food other & miscellaneous weekly/monthly expenses.

When you do decide on a house and have a rough idea of how much your monthly mortgage is, sit down and calculate what your entire monthly expenses will be and see if they are reasonable/manageable. Many people neglect to add in all the other expenses they have when buying a home & then are shocked to discover they don't have enough money to pay this or that.

I would expect no less than excellent advice from you Mr. Wallstreet and you exceed those expectations once again.

One of my co-workers' husband and son are both in construction, so they have been volunteered (potentially against their will, but her son at least owes me for dog-sitting Gizmo) to be my second pair of eyes on this. I'm also going to spring for an inspection to, just in case. It's about $300, but it's money well spent I think.

What would you consider to be a "good" interest rate? RBC is offering a rate of 3.89%.

I have some costs worked out already. I know what the taxes on the property are, what utilities cost the previous owner, cost of gas for the commute to work (it's about the same distance from Fleming to Moosomin as it was from my farm and my hometown Yorkton), internet and my cell phone. We discussed things like legal fees, utility hook-ups, insurance and stuff at the first meeting back when I was looking at a more expensive home.

The house I'm interested in is this one: in the little town of Fleming

The French Biscuit · Post by **The French Biscuit** » Thu Nov 18, 2010 8:08 pm

Sandman wrote:if you need a room mate let me know!

Sure thing! But remember, the big bedroom is mine.

Stocky Boy · Post by **Stocky Boy** » Sat Nov 20, 2010 6:32 am

The French Biscuit wrote: What would you consider to be a "good" interest rate? RBC is offering a rate of 3.89%.

The house I'm interested in is this one: in the little town of Fleming

Woah, I think anything under 5.5% is good for Britain at the moment.

Bisc, is that design of property common where you're looking? We don't really have that type of design in Britain. Seems more of a US and Canada look.

And just for the sake of comparison, guess what you can get for 60,000 US or CAD in London? Nothing! Not even a one bed place. In zone 4-6, the furthest out from the center, you might get a one bed for under 100,000 US or CAD, but definitely not in zones 1 or 2.

XIII · Post by **XIII** » Sun Nov 21, 2010 3:55 am

5.5%? Jesus Christ, we got 3.68%.

XIII · Post by **XIII** » Sun Nov 21, 2010 3:56 am

The French Biscuit wrote:I would expect no less than excellent advice from you Mr. Wallstreet and you exceed those expectations once again.

One of my co-workers' husband and son are both in construction, so they have been volunteered (potentially against their will, but her son at least owes me for dog-sitting Gizmo) to be my second pair of eyes on this. I'm also going to spring for an inspection to, just in case. It's about $300, but it's money well spent I think.

What would you consider to be a "good" interest rate? RBC is offering a rate of 3.89%.

I have some costs worked out already. I know what the taxes on the property are, what utilities cost the previous owner, cost of gas for the commute to work (it's about the same distance from Fleming to Moosomin as it was from my farm and my hometown Yorkton), internet and my cell phone. We discussed things like legal fees, utility hook-ups, insurance and stuff at the first meeting back when I was looking at a more expensive home.

The house I'm interested in is this one: in the little town of Fleming

Can't believe the price!! What a bargain!!

wolf_2099 · Post by **wolf_2099** » Sun Nov 21, 2010 2:31 pm

60k jesus h christ, I need to move a province over, holy shit.

I just need to remove a couple teeth first so I can fit in.

ChimeraCreative · Post by **ChimeraCreative** » Sun Nov 21, 2010 3:33 pm

wolf_2099 wrote:60k jesus h christ, I need to move a province over, holy shit.

I just need to remove a couple teeth first so I can fit in.

wolf_2099 · Post by **wolf_2099** » Mon Nov 22, 2010 12:56 am

ChimeraCreative wrote:

I'm sorry, did I say something wrong?

The French Biscuit · Post by **The French Biscuit** » Wed Nov 24, 2010 5:45 pm

Update: Got the house for CDN $50,000

The French Biscuit · Post by **The French Biscuit** » Wed Nov 24, 2010 5:46 pm

wolf_2099 wrote: I just need to remove a couple teeth first so I can fit in.

and a banjo.

The French Biscuit · Post by **The French Biscuit** » Wed Nov 24, 2010 5:48 pm

Stocky Boy wrote: Bisc, is that design of property common where you're looking? We don't really have that type of design in Britain. Seems more of a US and Canada look.

And just for the sake of comparison, guess what you can get for 60,000 US or CAD in London? Nothing! Not even a one bed place. In zone 4-6, the furthest out from the center, you might get a one bed for under 100,000 US or CAD, but definitely not in zones 1 or 2.

It's fairly common yes, especially in older communities. The no basement thing is a bit odd for Canada (or at least Saskatchewan).

Really? Even in the bigger cities like Saskatoon I could still find some decently priced properties.

wolf_2099 · Post by **wolf_2099** » Wed Nov 24, 2010 6:06 pm

The French Biscuit wrote:It's fairly common yes, especially in older communities. The no basement thing is a bit odd for Canada (or at least Saskatchewan).

Really? Even in the bigger cities like Saskatoon I could still find some decently priced properties.

That is all of Canada.

And 50K? Wow, just wow.

That is so fucking cheap, considering you are only one province over.

Is their a garage?

What is the population of the town you will be living in?