I just closed on my house in July. It's a buyer's market right now, which
is good for you if you're wanting to buy. I will give you this advice:
1. Do *not* buy the biggest house you qualify for. This is what the
realtor, lender and attorney might suggest that you do. My wife and I
qualified for a $100,000 house payments on my income alone. We bought a
house for $62,000... and I'm damn glad we did. We're making our house
payments without any problem but if we had spent any more on the house the
budget would not have been nice.
2. Don't get hooked on "a house with everything". Part of the joy of
homeownership is updating and adding. Our house isn't networked... yet.
I'd rather take a weekend and run the cable than add onto what I pay for the
house and have it already run.
3. Land is one thing that does not loose value easily.
4. Look at the neighborhood, not just at the house.
5. Don't 'wait' for interest rates. There is no use in trying to time the
market for interest rates, because by doing so you'll just burn time your
energies could be spent elsewhere.
6. Consider commutes, drives, stores and communities.
If you don't have a realtor then I might suggest finding what is referred to
as a "buyer's agent". These are realtors that specialize in helping buyers.
They generally don't list their own properties and are representing only
you.
Lastly, don't make any decision until you feel comfortable doing so. There
is no better way to explain the feeling of "I'd like to live here".
Hope this helps. Good luck and congratulations on your marriage!
C. Hatton Humphrey, Developer
Fisher, Towne & Associates
716-839-2141 x336
[EMAIL PROTECTED]
> -----Original Message-----
> From: Paul Ihrig [mailto:[EMAIL PROTECTED]]
> Sent: Thursday, September 20, 2001 12:22 PM
> To: CF-Community
> Subject: Is it a good time to buy a House?
>
>
> 2 questions.
>
> Is this a good time to buy a house?
> just got back from the honey moon, now my honey is jonesing for a house.
>
> Should i max my self out? [of course not?]
> if it is a good time to buy, with 2 incomes, should i calculate
> the maximum
> payment for 1 income to be able to support, i case one of looses our job.
> or should i go low, to be safe?
>
> just curious.
> thanks.
>
> -paul
>
>
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Structure your ColdFusion code with Fusebox. Get the official book at
http://www.fusionauthority.com/bkinfo.cfm
Archives: http://www.mail-archive.com/[email protected]/
Unsubscribe: http://www.houseoffusion.com/index.cfm?sidebar=lists
