Buying my first home

You should. Screw all that cold weather up there! You can still make good money here depending on what you do. Both my parents make 6 figures and I'm doing pretty good for 23 and no degree

 

I'm a certified sheetmetal worker and going to be a certified metalfabricator (fitter) later this year when I'm done. Shouldn't be hard to find work. Something to consider someday.
Cold weather is awesome though, atving in the snow, skiing, hockey, bombing in the truck in the snow. Dunno if I could live without

 

That 's half price for a house here

 

Wow, very nice place! easily a 250-300K home where i live, for 138K i got a 2 bed 1 bath 1000 SF no garage =/

 

Nice house! Hope it works out for you.

I bought my first house at 21 for 145k and sold it 3 years later for a nice pay day. In my opinion property is one of the best investments to start off with.

As for closing costs, depending what you've been approved for and the price of the home you could roll it in to the mortgage, at least I was able to.

Also if you can't get a 15 year loan try for 20yr. If not 20 then get the 30 and refinance in a couple years. Main thing is to get into the house you want but be smart about it.

 

Anyone buying a home should have a plumber take a look down the main sewer pipe leaving the home, could save you thousands.

 

Well we came to an agreement on 131,500, they cover 4k in closing cost, 1k earnest, and a $470 home warranty. Going to write some checks and sign some papers! My realtor has 1 good inspector and one fantastic inspector. I plan on spending the extra money and going with the better one since this is such a huge investment. Due dilligence period is 4 weeks and closing date is set for April 4. Thanks for all the help and advice fellas!

 

Closing set for April 4th? Damn that's almost 2 months away. Once I signed the paperwork on mine I was done in 20 days

 

Yeah my gf and I are still in a lease and would have to pay a 2 month rent penalty to leave now. The end of Feb is our 6 month mark in our lease and the penalty drops to 1 month's rent. Our due diligence period is 4 weeks too. If we can get the inspections, appraisal and underwriting done in the next few weeks we are going to try and move the closing up. Not a big deal though since either way we are going to be double paying (rent and mortgage)

 

i went a full 90 days on my first house. As long as the seller doesnt care theres nothing wrong with taking your time

 

Exactly. I'm in no hurry to start paying on the mortgage, especially while I'm still paying rent.

Edit: And out of curiosity, what type of sheet metal work do you do? Auto, industrial/manufacturing?

 

Mainly HVAC, but I build ship at the shipyard here right now. Its alright

 

Just an update but I closed 2 days ago and officially have my keys! Thanks again to the advice and opinions from everyone in here! Moved a few things in already but moving everything next weekend.

 

Showed so many people a picture of your house (said we were buddies so it didnt sound dumb) and everyone here was blown away with the value you got compared to here. Looks great hope you like it!

 

Haha yeah it's really hard to explain that. I went to a meet last weekend and people kept asking me how do I know these people and I said, "Well I don't really know any of them but I talk to them on the internet". That always get funny looks.

And yeah I'm extremely happy with what I got for my money! It would take YEARS to be able to be a homeowner in other places in the country! I'm very fortunate and appreciative to be where I am so early in my life. Now comes the fun part... decorating and making everything how I (and by "I", I mean my girlfriend ) want it!

 

Thanks man! I'm glad I ended up getting a realtor as there were lots of formalities and terms that were all new to me. Good luck in your search too!

 

That is because the same damn people that go us into this mess are buy them!! Yes the banks are buying foreclosure houses.

 

Congrats on the house. Me and the wife purchased our first one about 2 1/2 years ago. I hope your process went a little smoother than ours did. Took us almost three months with all the paperwork and such.

House prices here are a lot cheaper than other parts due to cost of living and wages here. If i go to my family further east, they drop even cheaper and give you way more land.

 

Congrats OP! That's awesome!

 

You can offer whatever you want they will come back with a counter offer that pretty much is how the game is played. You'll need to be within reason but there are a lot of things that enter into a deal the seller is going to get dinged for around 7% for the realtor so often the realtor will suggest going with a little lower price to make a deal. Take care of your first house pay it off as quickly as you can if you do it right you can buy the next one for cash.