What should a persons expections be...

[icebrat001]

on purchasing your very first home (starter home).

Dear SO and I are seriously thinking about purchasing a home. What should our expectations be? SO seems to think that we shouldn't have a lot of expectations because its our first home and if people have everything they wanted in their first home they would never move. I disagree, I think she would just settle or not speak up (we did this in renting our current condo, it's 500 sqft 1 bed, we hate it and we pay well over a grand a month )

I expect our new home to have things that we want, such as 2 bedrooms or more, 1.5 baths or more, walk-in closets (a must) a yard (a must) really aiming for a garage, a nice size kitchen (a must) and a nice floor plan, central air and heat...

What else should I expect? What do I add on my want list? HELP!

 

[AnaheimGirl]

Well, I don't see anything wrong with never moving. Each time you buy/sell a home, you're paying points, commissions, etc, so personally I don't like to settle for a home, expecting to move soon. Obviously, we'll move when there's something major we want to change, like size of home.

So, yes, make sure you find a floor plan you like and a neighborhood you like. If you think you might have kids while living there, check out the schools. Open all the window blinds/drapes, then walk around outside near your neighbors windows to see how well they can see in. I know, it sounds silly but that's something that you might not notice on a walk-through, that can bug the heck out of you once you live there. For us, it's not inside, but outside, our deck feels like it's right on top of the neighbors deck, so we had to plant a tree between and it's taking too long to grow!

A lot of things can be easily replaced, if it's within your budget, so I wouldn't worry too much about paint colors or certain flooring.

Good luck!

 

[NC Belle]

I highly recommend in finding the best Home inspector that you can find--even when you buy new construction. We had to get our builder to use longer nails for the roof (which was needed in the past 3 years of hurricane seasons), add additional insulation because it was not adequate, and some flooring and framing issues.

 

[cardaway]

Unless you're into remodeling it would be a miracle to find your dream home the first time around. Bet it's even harder to do in SF than here.

We got something we could live with and then started the search and never stopped. Ended up finding new construction allowing us to design parts and pick details. Took two years.

Of course now our tastes have changed and talk of looking again has started.

 

[disykat]

Our first home was something we could have lived with if we never had the opportunity to upgrade, but certainly not our dream home. Just try to get as much of your wish list as you can in your price range. In most high end markets, first time buyers have to settle - however that doesn't mean you shouldn't wait to find something you love! You just have to kind of prioritize your list of wants.

 

[C.Ann]

The most important thing to look for is a house you can afford.. I can't tell you how many people I know who are kicking themselves in the behind right now because they had to have everything "just so" in their "starter" homes and now they can barely affored to live there..

Years ago our parents took "baby" steps and worked their way up - and that's why so many of them were able to live debt free.. Nowadays "instant gratification" are the buzz words and people end up spending the next 30 years of their lives never getting a decent nights sleep due to financial concerns..

 

[SunFloridaDisney]

I think you should have a (short) list of must-haves, then a list of things that would be nice, but you could live without. Then of course there is the budget to consider. Once we started looking, we found out we could afford a lot less than our expectations.

A first home is exciting, but just try to be realistic and not expect everything to be perfect. That's part of the fun - remodeling or redecorating and finding out what works. Then after some time, you can always move up or on to something different.

Good luck!

 

[Crankyshank]

You need to make a list of specifically want you want and decide what are essentials and what you can live without. then you need to look at houses in your price range and re-evaluate based on your findings.
You need to be realistic about what you can afford and understand that luxuries you deem musts might not be readily available in your first home unless you're willing to pay more. Also more important than things like layout and walk in closets is that the house is in good condition and not in need of major repairs. Look for the soundness of the home before you look at things that can be altered.

Also what is realistic and what isn't depends on the area. I can tell you central heat and air is not altogether a realistic expectation here for a first home and you're not going to be getting a gourmet kitchen either. However if we were looking say in Florida, we'd be more likely to find central heat/air in our searches.

 

[icebrat001]

Unless you're into remodeling it would be a miracle to find your dream home the first time around. Bet it's even harder to do in SF than here.

We got something we could live with and then started the search and never stopped. Ended up finding new construction allowing us to design parts and pick details. Took two years.

Of course now our tastes have changed and talk of looking again has started.

I don't think we want to remodel!

We aren't purchasing in the bay area, we can't even get a shack for under $600,000. We are purchasing in Tampa where we can get a great place in a great area for under $200,000. I'm not really looking for my dream home, but at the same time, I'm not looking to tank $50,000 into the house in the first year on repairs and additions either.

 

[MzDiz]

I have to add that you should take a good look at how your furniture will fit. It sounds silly, but if you have a king size bed, or something, and it won't fit in the room or through the door, then you've got to buy a new one. It seems silly, but it's something to think about.

 

[Cindyluwho]

Try to fit in as many needs and wants as you can without having to eat Top Ramen or Mac n Cheese every night. The lenders will tell you can afford X amount of $$, but try to keep it realistic. Do you/can you really give up some of your favorite things, like eating out, eating meat, etc just to have a walk in closet?

 

[icebrat001]

Bump

 

[Sleepy]

We bought a starter home a few months after our son was born. I can honestly say there is no starter home that will remain something you will always be happy with. People always outgrow their space. Our home was just right for our needs at the time. However, within the first year, we realized space was an issue, central ac was an issue (we had none) and the heating was gas furnace with one register in the main living space. What a headache. We did a total remodeling of this house and it was beautiful when we left. All those things we said at purchase "it can wait....it will be ok...or we will just fix it up later"....big mistake. Make it an issue NOW! it will eat a hole in your pocket later. Our first home was good for us then, but later on, computers became a popular item in the house and we had nowhere to put it as the 950 sq ft of home was completely used up already. Forget about when we finally got out of the financial poor house and could purchase furniture that took more space. No place to even put a dishwasher. See, when we bought the house, those things were not even an issue. If you are unhappy with something as simple as the carpet, make sure it is replaced now or that you can afford to replace it and if you hate carpet, but love the house, make sure the flooring underneath is salvageable or that you can afford to refinish it. When we bought our house, we did not even think about the fact that you would have to walk into a bedroom to get to the only bathroom in the house. Makes it strange for guests. Just a few things we did not think about.

 

[barkley]

hey icebrat001 i see you are down the road in contra costa county. have you considered looking at homes here in solano county? we have much lower housing costs (and a lower sales tax rate cuz of no bart subsidy ). lots of folks commute from here to coco county (i did it for over 15 years) for just this reason.

either way-make sure you consider resale value when you buy-don't take a great deal in a declining neighborhood that will result in lowering of your home value when you go to sell. also consider in addition to getting a home inpection requiring the sellers to include a home warranty policy for a year (it covers heating/air systems, appliances, plumbing...) it only costs them a few hundred and can provide you with peice of mind (we bought our home new but added this to start when the builder's warranty period ended).

go with a good respected experienced realtor and loan officer. there are too many in the bay area that do it part time and don't know the history of the neighborhoods they sell in (and don't care cuz their just in it for a quick buck). a good loan officer will help you get what you can AFFORD and wont push you into a zero down or interest only resulting in a huge ballon payment a few years down the line.

remember when deciding what you feel you can afford in a monthly payment to consider prop. taxes, and association fees, other mandatory payments, homeowners insurance, increased utilities and upkeep on the house (older homes esp. can need regular repairs that result in big money). when we bought our first home (older) we requested and received a print out of the prior years utility bills (water and power) that way we could guage how much we were looking at (and with water it can be an indicator if the bill seems way to high if there are undetected leaks in the plumbing system).

good luck-it's very exciting finding that first home. i'll be on the other side of the fence come spring, sitting in the seller's seat (equaly exciting).

 

[ilovepcot]

You're going to be pleasantly surprised with the "starter" home you'll find in the Tampa area for the money you're talking about. And all the things on your list will, no doubt, be included. I'd be careful to *not* buy the most expensive house I can afford...I'd want to be able to afford some really nice things to make the house a real *home*. A few luxuries (adding a spa, pool, patio, deck, fabulous furniture etc.) at a later time can make life grand!