What is some advice you can give to first-time homeowners that you wish you'd known the first time around?

Set aside 1% of the purchase price every year for major upkeep and maintenance. Warranties and insurance are largely worthless. If your home is 5 years old or older it will need some major repairs sooner rather than later...from $500 water heaters and $1000 garage doors to $10,000 roofs and siding.





These are ';killer'; expenses for most first time home buyers because they are (1) large relative to monthly income and (2) random in occurrence. Once a building is 5 years old the fact that a major repair is coming is an absolute certainty, but since you have no idea if it will be in year 4,5,6,7,8...etc, it is way too easy to assume it you are doing fine and in the clear. Not so. They always come.





If you don't plan on this expense by budgeting it monthly, you will likely (1) buy a more expensive house than you can really afford and (2) spend too much on the ';fun'; parts of home ownership: decorating and remodeling.





Since my first ';OMG you've got to be kidding me'; I've practiced the ancient real estate adage to bank 1-2% of purchase price for major wear and tear. Life has been much smoother.What is some advice you can give to first-time homeowners that you wish you'd known the first time around?
Long list of things.. Plumbing, heating, dips in flooring, MOLD MOLD MOLD inspections!!!! Closet space, kitchen cupboard space, how much work does the house need honestly! Do not rely on the real estate agents choice of inspectors at all. Get your own! Wiring inspections are primo important too. First and foremost though be sure the house is mold free. This is a costly expense to repair. Oh yeah and outside mold on cement may mean water is getting into the basement where you can not see it. Mold is a nightmare! Any sign of black or green on anything is a house to run away from.What is some advice you can give to first-time homeowners that you wish you'd known the first time around?
1stly when u step into the place, do you feel at home?Comfortable? At ease? How's the ambience? Check for the facing? Do u prefer sunlight streaking into your home during the day or do prefer a cool place.
check the water heater for damage and how old it is. find out when the roofing was done last. run a snake thru the pipes underneath the house all the way to the street.
everythings expensive as h3ll and everything breaks every other day.





im in the process of getting a 3500 dollar furnace replaced, carpets, pads, windows oy!
You should have at least 5k extra besides your down payment and closing costs. Last minute fees and costs can break the deal
Dont burn your house down and eat possom burgers! they are full of yummy vitamins
Rent!

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