Pay cash.

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Jul 1, 2020
7:51:43pm

bluecougar1985 All-American

Pay cash.

All joking aside, I firmly believe if you can’t afford it on a 15 year mortgage, you can’t afford it.

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bluecougar1985

Bio page: bluecougar1985
Joined: Dec 10, 2015
Last login: Apr 25, 2024
Total posts: 15,565 (1,559 FO)

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Messages

Author

Time

What’re some pointers you have for a first-time home buyer?

BountifulCoug5

7/1/20 7:47pm

You can always change the house, but you can't change its location

acougfan

7/1/20 7:48pm

Aside from education, buying and selling foreclosure homes have been the best

Pretorian

7/1/20 8:53pm

I wish my backyard had more privacy... Or any privacy for that matter

creameryon9th

7/1/20 7:50pm

Pay cash.

bluecougar1985

7/1/20 7:51pm

RE: Pay cash.

Zaphod

7/1/20 7:54pm

I’ve sold 3 homes the past 4 years. I’ve had an all cash offer each time on all 3 homes.

RdF3

7/1/20 7:54pm

I build for a living, we rarely get cash offers, but it does happen.

bluecougar1985

7/1/20 7:55pm

With the interest rates under 3% for a 30 yr loan right now, just do a 30.

rainorsnow

7/1/20 8:43pm

15 year is a good way to go. Not sure that is feasible for most people in a lot

Hoosier77

7/1/20 9:09pm

Starter homes in Utah are insane.

Hoosier77

7/1/20 9:10pm

Get a 30 yr loan and pay it like you would a 15 yr loan. That way, if hard times come, you're still OK.

BYUALWAYSNUM1

7/1/20 9:15pm

Make sure you get a garage. Don't get a townhome. Do not move anywhere with an

CougarTailDevourer

7/1/20 7:55pm

Absolutely no HOA!

bluecougar1985

7/1/20 7:55pm

HOAs suck, unfortunately A LOT of places have them.

BYUALWAYSNUM1

7/1/20 8:12pm

Potentially bad advice IMO

RdF3

7/1/20 8:00pm

HOAs are fine. Just understand what you are getting in to.

scottfunkel

7/1/20 8:48pm

Why are you against town homes? Thank you for the advice

BountifulCoug5

7/1/20 8:13pm

They are hard to sell when the market turns and they are typically too small to

CougarTailDevourer

7/1/20 9:37pm

Never F & C because of HOA fees. Special assessments Will bite. Roofs, asphalt &

grandpacoug

7/2/20 5:48am

So just get a good and thorough home inspection. Yes, eventually years down the

CougarTailDevourer

7/2/20 8:36am

Townhomes are great starter options

insanobueno

7/1/20 9:24pm

Townhomes generally cost about the same as a single-family home of

CougarTailDevourer

7/1/20 9:39pm

But then you can live in a nice well kept neighborhood likely with a pool and playground and have neighbors that are

RdF3

7/1/20 10:17pm

Not always the case. We looked at townhomes vs. single family homes for our

CougarTailDevourer

7/2/20 8:44am

Good feedback. This is our first home and seriously considering the town homes

BountifulCoug5

7/2/20 9:11am

Interesting about the mtg broker. I shopped around just recently and ultimately

rainorsnow

7/1/20 10:03pm

For the same reason. I used a mortgage broker originally because he told me he

CougarTailDevourer

7/1/20 10:14pm

Surprised he gave you the name of the bank.

rainorsnow

7/1/20 10:19pm

If you're financing, get preapproval, but try to buy under the preapproval

mrphotogenic

7/1/20 7:55pm

Expect the worst, “new” used houses always need repairs.

gwill

7/1/20 7:56pm

Look at greatschools.org. Try to live in a neighborhood where the elem school

valleus

7/1/20 8:07pm

Owning a house is expensive. Don't just think about how much the house payment

Broda

7/1/20 8:12pm

New or old, it'll fall apart. Houses are a money pit.

BYUALWAYSNUM1

7/1/20 8:18pm

If it has an HOA, get info on the fees, how it is being managed.

ovalY

7/1/20 8:19pm

I'm a Realtor. Here's my advise. Shop around for your financing and for your

BYU_CPU

7/1/20 8:35pm

That’s good advice. I just accepted an offer on my home and people were fighting

rainorsnow

7/1/20 8:48pm

the 7 year thing...Maybe that's true but I know people that would be 100k poorer

abyunobody

7/1/20 8:58pm

HOAs have ultimate unchecked power. If they treat you unfairly there is nothing

abyunobody

7/1/20 8:35pm

Make sure to take it on the freeway and have your mechanic check it out.

superdoo

7/1/20 8:38pm

Great advice

TNT

7/1/20 8:45pm

If possible, buy a place that you could turn into a rental when you upgrade

DC12

7/1/20 10:10pm

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