House Buying General

[Anonymous No.1583371]

I'm going to be looking at houses next week to buy and I'm wondering what are some tell tale signs of things to avoid?
What are some horror stories you have from home buying?

[Anonymous No.1583373]

>>1583371
Don't buy anything old they are all full of problems and need every single thing upgraded. ALWAYS get a home inspector to evaluate the house before you buy. It could and will save your life.

[Anonymous No.1583374]

>>1583371
What part of the country do you live in?

[Anonymous No.1583379]

>>1583373
my budget is $125,000 ($93,600 USD) so I'll be pretty limited to houses from 1950-1970
>>1583374
moving to Newfoundland

[Anonymous No.1583386]

>>1583379
Alright, some time tonight I will blogpost on this thread about plumbing inspections and a few related areas. Phonepostinf right now so I don’t feel like getting in depth with my thumbs.

[Anonymous No.1583406]

>>1583371
big things would be structural and foundation issues. If the house has good bones you're probably in good shape. Your pic related has a nice ridge sag going on which would be something to look into.

Some big ticket items that aren't the end of world but can be pricey to fix:
- Well water, is it potable, if not is a city hookup possible. City hookup could be around 5k depending on how much trenching needs to be dug.
- Does the heating system work
- Septic system: city waste? leach fields? what condition is it in. Replacing a leach field system can be 10-15k.
- Screw in fuses. Most insurance companies won't even consider giving you coverage unless you have actual breakers. Around a 2k fix if needed.

[Anonymous No.1583421]

>>1583373
Meh, my house isn't too bad and it's just under 100 years old.

OP, my advice is to get a good inspection done and to look at everything closely yourself. Look at the foundation closely as well as baseboards and any molding. It will let you know if it has foundation issues. Look at how old the A/C and hot water heater are. Get the seller to pay for a home warranty for the first year. Nit pick EVERYTHING. Look under sinks, behind washers and dryers for leaks.

The truth is you will probably miss some things, but it's best to find everything you can up front.

[Anonymous No.1583429]

Look for buckets under/behind sinks, washing machine, fixtures. Those are there to collect dripping water.
If you are buying something with an oil furnace, check to see if the oil tank is the old kind which has the plumbing near the bottom/side of the tank. All new tanks have all the plumbing in from the top so there's virtually no chance it can leak.
Look at the electrical panel to see if there is are any available breaker positions. Having positions available is good if you plan to add a circuit.
Check the edge of the floor in the basement for water seeping in.

[Anonymous No.1583528]

>>1583371
>>1583373
Don't buy anything new, they are made out of compressed newspaper and sawdust. A house built from the 70's on has at best a decade or two of useful life left. Labor was cheap back in the day, so there was a lot more time and care put into home construction. Old houses use higher quality wood and slower growth species which are much more rot resistant. The main things to avoid for me are structural problems (including rotten wood, cracked foundation / basement walls, bowing, etc.) and big expensive repairs that need to be done soon (new roof, furnace). I probably would not buy a house that has all knob and tube wiring, but replacing a little bit of old stuff is really no big deal. Good luck and have fun!

[Anonymous No.1583567]

>>1583406
Second that structural or termites are a killer

[Anonymous No.1583577]

>>1583371
look out for a fix and flip that was done poorly.. the saying "lipstick on a pig" comes to mind..
poor caulking/painting jobs are a good indicator
when walking around try and feel if the floor is level, could be foundation damage or building shifted maybe even some severe water damage
aluminum wiring in the 70s was shit if in america, and generally a pain in the ass
old copper pipes will actually get pinhole leaks over like 30ish years
water damage stains on ceilings, or even recent drywall patches could be an indicator that something major broke and wasnt fixed well
old furnace and water heaters... costly repair when you are suddenly broke from putting all your money into your home.

[胖寶愛吸腳趾 No.1583671]

>>1583528
My house was built in the 70s and while well maintained a lot of issues have started to pop up over the past decade. Some minor foundation work, windows need to be replaced, could stand to have insulation replaced... Some things just start to wear out at around 50 years of life.

[Anonymous No.1583780]

I'm tired of renting from crooked landlords but I'm still poor. I know trailers are low quality houses, but is it worth it to live in a trailer park until the US housing market crashes again and I can afford a real house?

[Anonymous No.1583786]

>>1583780
Bump

[Anonymous No.1583821]

Go only after a heavy rainstorm to look for leaks

[Anonymous No.1583838]

As others said, find the house you want and then get a good home inspector to look it over. Money well spent to find any problems.

[Anonymous No.1583875]

>>1583838
Home inspectors are often rquired by the bank. However a home inspector often does a very poor job and is only worth doing ti apease the bank.

[Anonymous No.1583879]

>>1583528
you realize if you bought this house, you'd be surrounded by niggers.
On top of that, it's probably wrecked to shit and poorly kept up because, guess what, the last occupant was a nigger.

[Anonymous No.1583880]

>>1583780
short answer is that you're still paying rent to sit the trailer down, unless you own the land.
If you own land, just build your own home.

[Anonymous No.1583891]

>>1583371
I don't know the real-estate laws in Canada, but if you don't want to get ripped off, hire an inspector; and if you have big money burning a hole in your pocket, hire an appraiser.

If you're taking out a mortgage to purchase the home, the bank is obligated to hire an inspector (at least in the US).
However, the inspector, as others have stated is just there to carry out the legal obligations of the bank, and have no real incentive to help you out.
Hire your own inspector with your own money if you want your own information.

[Anonymous No.1583905]

>>1583891
The bank will always order an appraisal in the US. They don't want to be financing a home you're massively over paying for.

[Anonymous No.1583910]

>>1583891
Even if you hire your own inspector there is no guarantee you will get a quality inspection. I have had inspectors miss holes in roofs.

[Anonymous No.1583920]

This may sound racist, but I don't care, because it's the god-damned truth: I don't care how nice the house is, I don't care how great the property is, I don't care how cheap the house is, DO NOT buy a house in a nigger neighborhood.

There's an old real estate saying, the three things that matter are "Location, Location, and Location." Well, that's the PC way of saying stay away from blacks.

Go on janitors, kick ban me for speaking the truth about race on a blue board, do what you will, but heed that advice, OP. Heed it.

[Anonymous No.1583928]

>>1583891
Just my experience...
In Canada some lenders require the inspection, so it is for the benefit of the buyer's lender.
One house I bought the lender required an inspection.
Another house I bought, the bank didn't ask for one (but we got an inspection anyway which helped us negotiate the price down because the previous owner was doing some code violating shit)
>>1583910
Correct. Even good inspectors will miss details.

[Anonymous No.1583947]

>>1583905
>the bank doesn't want more money
How'd you attempt to work that one out in your head?
It's the buyers' agent's job to get the best, lowest price for your home. The bank has every financial incentive to finance you an overpriced home, specifically if you have the income.

>>1583910
You're right. That's why it's best to get a second opinion if you're unsure.

>>1583920
You're correct, but unfortunately, due to Jewish housing laws, you cannot discriminate based on anything other than age in the U.S. when it comes to real-estate.

[Anonymous No.1583950]

>>1583947
If you're massively over paying for a shitty house, you're going to default on the mortgage and let the bank foreclose on it. I mean, that's what I'd do if I discovered I bought a massive turd and was going to pay for it for the 30 next years.

The bank wants to prevent that from happening and is going to get it appraised to make sure it's a sound investment on their end.

[Anonymous No.1583956]

>>1583950
>you're going to default on the mortgage
if you're loaning out a home to a nigger, that's the first thing on your mind.
People with a job pay their bills; if they don't they're not getting approved for a mortgage.
The house isn't the investment, the mortgagee is.

[Anonymous No.1583966]

>>1583956
My friend, if you found yourself suddenly, massively upside down on your mortgage, what would you do? What is the best financial decision you could make? Truthfully, you'd just default on it. Why would you trudge along, throwing money into a sinking ship, instead of getting out?

This is why lenders will hire appraisers and inspectors.

[Anonymous No.1583968]

>>1583966
Why the fuck would I take a ridiculous home loan out unless I knew I could pay for it.
Owning property isn't a right, it's a privilege, and if you need the bank to finance your purchase then you shouldn't be a property owner to begin with.
Banks usually have inspectors on retainer for two reasons.
1. Because of the legal obligation to do so.
2. To make certain the home is worth the price the mortgagee is asking for. If the mortgagee is trying to Jew the bank, they'll be the first ones to know.

[Anonymous No.1583972]

>>1583968
Have a great day at school tomorrow Toby!

[Anonymous No.1583975]

>>1583972
enjoy paying that enslavement loan, Tyrone.

[Anonymous No.1583983]

>>1583975
My tenants are paying for it, I just get to pocket the extra they give me every month.

[Anonymous No.1583997]

>>1583983
middle-class jew

[Anonymous No.1584209]

>>1583528
I just went to look at a house from 1930. The wood used in it was beautiful.

[Anonymous No.1584223]

>>1584209
by my eye that's 67 years of growth on the left tuba four and 11 on the right.

[Anonymous No.1584279]

>>1584209
My house was built in the early 20s and the wood is stunning in it. I'll take some pictures in the morning.

[Anonymous No.1584543]

>>1584279

[Anonymous No.1584550]

>>1583528
please use the meme, chinese newspapers and apple cores.

>>1583371
anything built into the side of a hill/submerged/underground is stupid. unless its very cheap. the water proofing fails after a few decades and needs serious excavation to remediate. trailers arnt necessarily bad. as long as you're not in a methhead trailer park and park security is decent its fine. just be aware that if there are bylaws saying you cant do certain things in the property it also means cletus cant do those things also.

>>1584279
balloon frame i bet. it probably also really lets that cool summer breeze in. (also winter breeze)

[Anonymous No.1585680]

How do I know if a house is well-insulated? Should I wait for a really hot/cold day before checking it out, or is there something building inspectors can look for at any time?

[Anonymous No.1585685]

>>1585680
You can check the attic pretty much whenever, but if the house was built before about 1965 just assume the walls aren't insulated at all, and it won't be easy to go back and put it in now.

[Anonymous No.1585691]

>>1585685
Thanks, anon.

[Anonymous No.1585721]

>>1583780
In my area trailers are sold to poor families so they can get into a good school district. The rent is pretty extortionate for what you get, coming in just under what a mortgage could be unless it gets your kid out of nigger town high school and you need that right now.

That's just my area though, never been anywhere else, no idea if it's different

[Anonymous No.1585732]

Can someone help explain to me the difference between good modern framing and bad? I see lots of posts about stick framed houses under construction with the usual "the ABSOLUTE state of american building" yadda yadda. My untrained eye can't tell the difference. Is it the braces they use? Just the prolific use of 2x4's everywhere?

Also, how to convey to a GC an interest in better construction rather than poorer. Sperging out about a "generational" home or something doesn't really seem to me like it conveys an actual standard.

[Anonymous No.1585735]

>>1585732
nothing wrong with stick framing so don't listen to the europoors. The only ways to cheap out on stick framing is to use undersized wood in load bearing areas (headers, joists, etc...) and to up the spacing between joists, studs, rafters and so on to 24" instead of 16". OSB sheathing gets shit on, I've never really worked with it so I have no comment, Plywood will work fine though, and never ever use that sheetrock sheathing material. No idea what it was called, but it's absolute trash.

[Anonymous No.1585739]

>>1585732
>I see lots of posts about stick framed houses under construction with the usual "the ABSOLUTE state of american building" yadda yadda.
90% of those threads and posts are by maybe two people.
It isn't the braces or 2x4s, it's that they don't like stick framing at all.
There isn't really something you can do to with stick construction that makes it "generational" except choosing good material and not just meeting, but exceeding code requirements. But at the end of the day it's still dimensional lumber and drywall.

If you want something to last forever, find a contractor who will build the structure out of concrete reinforced with stainless steel rebar (which is overkill).

[Anonymous No.1585816]

>>1583371
Some of the biggest issues in terms of cost to fix would be:
foundation
septic or sewer
moisture/mold

Get an inspector who knows what they're doing to look for any signs of foundation problems and try to check out the house after it rains if possible and look for leaks and signs of water damage, especially if there is a basement. If you can get a moisture meter, you can use it on the walls. Also, get a sewer scope done. It is like a colonoscopy for the sewer pipe. You are responsible for the sewer line from where it branches off from the main line, so you could potentially need to dig up the sidewalk or street to access part of the sewer line which is a major expense.

If you're looking at older houses, understand that the wiring may not be great, but you could probably live with it. Same goes with plumbing. These are things you can have redone and not TOO major of a cost when you have the money. Things like furnaces, water heaters, appliances, roofs, etc. all have finite lives. Note how old these things are at the house and work their eventual replacements into your budget.

[Anonymous No.1585841]

>>1583947
>buy 50k hovel for 1 mil
>only pay back 10k then lose job or whatever
>bank takes house back, still loses 940k
It's in their best interest to be wary of that, especially since it would be an easy con to pull.

[Anonymous No.1585845]

>>1585841
I guess you also generally need starting money, so more like bank loses 740k, still pretty bad.

[Anonymous No.1585866]

>>1583780
Yes. Trailer parks are based and redpilled

[Anonymous No.1585971]

Posting on DIY. Not buying a complete fixer. Major issues are foundation. Secondary would be plumbing, electrical, roof. Everything else doesn't really matter.

[Anonymous No.1588238]

>>1584543
nice, imagine what it looks like under the paint

[Anonymous No.1588264]

>>1588238
They put some drywall up, but it's shiplap on all the walls. I'm 90% sure all the white trim is lead based paint, though.

[Humble croatian red aerated te(...) No.1588410]

>>1583371
>wondering what are some tell tale signs of things to avoid?

t. your trully

[Humble croatian red aerated te(...) No.1588413]

>>1583920
>There's an old real estate saying, the three things that matter are "Location, Location, and Location." Well, that's the PC way of saying stay away from blacks.

wisdom.

[Anonymous No.1588626]

My best advice is that you get a Realtor. As the Buyer, you don't pay your Realtor anyways, the Seller usually signs at 5% in my area with half of that being offered to the Buyer Agent. There's literally no good reason not to have an expert working for you for free.

My second best piece of advice is that you make sure you know what you're doing with your Home Inspector. If your Realtor offers you some suggestions, take them. It's in your Realtor's best interest not to get sued and I promise you they don't suggest people that are "in their pocket".

Also, don't let your Home Inspector scare you. Any good Home Inspector will be able to explain calmly what any deficiencies are with a house and how you can remediate them. If they start telling you the house is falling down and it'll cost a hundred thousand dollars to fix it, they don't know what the hell they're talking about. Remember, there's virtually no standards set on Home Inspectors in Canada, anyone can be one regardless of whether they have any experience or knowledge.

[Anonymous No.1588645]

>>1585845
The bank just passes the loss on to their insurer. and the insurer just asks the gov't for cash if things get to bad.

[Anonymous No.1588663]

>>1583947
It's also illegal to have racial quotas in college admissions, but they got around that by using class rank as the most important measure, allowing them to skim the top 50 kids in each black school and go "well were just going by class rank, it's just a coincidence that we chose the number 12 student from every high-school in Spartanburg"

The trick is to just use something that doesn't explicitly have to do with race, like predictive policing algorithms

[Anonymous No.1589145]

>>1583780
Only if done right in the right town & park.

How long you plan to stay the ?. No reason to buy a trailer if only for ~2y but if longer, 5-10 to save, best buy cheap acre outside of town and a 10-20 yo RV/Trailer (Tiny Homes overpriced as fuck). Even paying ~$200 land rent/mo to Park, that's having an Acre+ paid off near area (depending of course) in a couple years max. Need to make sure what is and isn't allowed when buying land (zoning).

Tis a good idea to wait on housing tho, seems every single area I check the prices are at *least* 50%+ from ~2010-12 if not sooner. Many areas 100%+ over the last 5-10 with rising property taxes to boot.

Right now you're buying high (boomers dying off), generally speaking, far higher in certain areas especially.

All depends what area you want to live in & what you want to do. Single, job in/near the big city but way too overpriced? Slum it a few years & wait. Raising Senpai? (Depending) Snatch up a home at $150-200k in good area

[Anonymous No.1589395]

>>1589145
Good advice. Thanks, Anon.

[Anonymous No.1589416]

>>1583371
The ignorance of the loan process here is staggering. Your lender orders the appraisal, you hire the home inspection. The home inspector works for you and you alone, find a good one in your area. Good ones offer extra services, your real estate agent should be able to offer recommendations. Also remember your agent is working for you as well as the lender.

Be there for the inspection and ask questions.
Home inspections are required for insurance. No inspection, no insurance. No insurance, no loan. The appraisal is for the peace of mind of the lender so they have a reasonable expectation they aren't writing a 200k note on a glistening cat turd.

Age and condition of the primary money pit items - roof, AC, water heater, septic. Look for patch jobs on the foundation.

Ask for the last year of utility bills. Bring a corner rule and spot check the rooms.

[Anonymous No.1589426]

>>1589416
>Bring a corner rule

What do normal people call this.

[Anonymous No.1589431]

>>1583780
Mobile homes depreciate in value like cars, then you are held hostage by the trailer park as they constantly increase your rent. This is the dumbest home to get into.

[Anonymous No.1589432]

>>1589426

Do you mean a framing square?

[Anonymous No.1589481]

>>1584223
Looks like a real 2"x4" board as well

[Anonymous No.1589623]

>>1589431
How about I buy a small piece of land, build a cheap-ass trailer on it, the wait 5-10 years for baby boomers to start dying so I can buy a real house?

[Anonymous No.1589634]

>>1589623
Buy a reasonable piece of land, put a trailer on it
Save for 10 years and build your own house on it.

[Anonymous No.1589677]

>>1588410
thanks

[Anonymous No.1590519]

I went to view a house today and there was a gassy smell that the realtor was going to check up on but hasn’t gotten a response back yet. There was a new boiler just installed if that could be it but still wondering if anyone might have a good guess

[Anonymous No.1591310]

>>1590519
Don't go back there, it's a death trap.

[Anonymous No.1591541]

Any fellow Euro bros who have experience with restoring half timbered houses? Thinking of buying this old house just not sure if it can be saved.

[Anonymous No.1591543]

>>1591541
The roof is fucked and about half of the timber Framing on the unprotected front side needs replacing. Also single glass windows for the most Part.

[Humble croatian red aerated te(...) No.1591583]

>>1591541
>Any fellow Euro bros who have experience with restoring half timbered houses? Thinking of buying this old house just not sure if it can be saved.

there is some brit guy that specialises in restoring those exact type of houses. Look up "damp industry scam" youll see his videos

[Anonymous No.1591832]

>>1583371
Don't buy a house -
-at the bottom of a hill
-with a hill in the backyard sloped towards the house
-recently "renovated" or "painted" (sellers commonly cover up water damage with fresh paint)
-without overhangs on all sides of the house
-with a road that was resurfaced (i.e asphalt on top of the previous road causing the curbs to be like 3 inches)
-a basement that is overly fragranced

[Anonymous No.1591882]

>>1583371
the first thing you should look at is structural. does the foundation look solid? is the house leaning? the there cracks or obvious signs of water damage in the basement if it has one? do the outside walls all still look square?

then look at the roof. are the shingles in good shape? any missing or curled up? are the roof angles flat or have they cupped from the peak to the soffit? go in the attic if you can and look for mold/water damage on the under side of the roof.

then check windows and doors. is there any water damage around them? is there condensation between panes? most windows will have a date code stamped on them to get an idea how old they are. do the doors have proper intact gaskets around them? are the threshold solid or rotten?

then look at electrical and hvac. are the receptacles grounded? does the panel have fuses or breakers? are there a lot of messy wires going into the panel that dont look original? central air or hydronic hvac? check the furance/boiler. how old is it? check the filter to see if its changed regularly. are there any service tags on it? if there is AC, how does the condenser outside look? is the coil clean and in good shape or is it all beat up?

thats the major stuff that will cost the most. after that its mostly cosmetic interior stuff like floors and kitchen/bath but that can all be changed fairly easily.

buy a house with a solid foundation and no water damage but a shit kitchen/bath, not the other way around

[Anonymous No.1591927]

>>1583371
But a shit heap with a bad roof, replace the rafters with ones that make the house look better, replace any broken windows, replace kitchen, freshen up bathrooms, re trim entire house.

[Anonymous No.1592020]

>>1591583
Thanks!

[Humble croatian red aerated te(...) No.1592054]

>>1592020
have a good one (=repair)

https://www.youtube.com/watch?v=f91Oxqe-Ibs

https://www.youtube.com/watch?v=5ZBAZqTmqbo

https://www.youtube.com/watch?v=u8FAC2zV0H0

[Anonymous No.1592265]

>>1592054
Thanks a lot!

[Anonymous No.1592279]

>>1592054
what place is this Germoney?

[Anonymous No.1592460]

>>1583371
RV converted school bus. Don't be enslaved by the bank jew.

[Anonymous No.1592482]

>>1583373
>>1583406
>>1583421
>>1583838
>>1583910
Home inspectors are the biggest legal scam running in the US housing market. Why?
- they are not required to be trained or certified by the state, so any retard who takes an online course can open up an inspection company
- they charge you a ton yet most of them are completely clueless about things like local codes, proper installations, etc.
- 99% of them make you sign an agreement beforehand that they are not liable if they miss something AND that you can't sue them if they do (you have to agree to arbitration, which they win most of the time)
- they won't put themselves on the hook for major equipment in the home, every appliance they see (furnace, water heater, fireplace, etc) they'll tell you that "you should get that inspected by a professional."

What should you do? Find a reputable GC and pay him to look at it with you. They are much more knowledgable and will catch tons of shit the home inspector won't. Get an HVAC contractor to come in and do a safety inspection on the furnace, water heater, etc. Keep in mind the average gas furnace lasts 18-20 years, water heaters 8-10 years, and AC's 12-15 years. If the equipment is older, you WILL be replacing it.

[Anonymous No.1592487]

Buying a house in the us soon, very interested in this thread. actually looking at one tomorrow.

[Anonymous No.1592638]

>>1592487
This thread convinced me to wait until baby boomers start dying off so I can get one of their empty houses for cheap.

[Anonymous No.1592689]

>>1592638
I'm tired of living with my dad, I'm ready to go

[Anonymous No.1592783]

>>1592482
>reputable
That's the catch, isn't it? There are reputable home inspectors too, as well as shitty GCs. I get that a GC who is actually in business probably has to have a minimum competency or else people would stop hiring him, but same applies to inspectors. It's much easier nowadays to research a business with internet review sites.

[Anonymous No.1592785]

>>1592689
Independence might only be one slip down the stairs away.

[Anonymous No.1592814]

>>1592785
audible kek

[Anonymous No.1592831]

>>1592638
Sorry lad, it goes to our children or debtors.

[Anonymous No.1592841]

>>1585739
There are plenty of 200+ year old wood framed houses in the US. I know that's not saying much compared to some europoor villages with stone buildings over 500 years old being the norm but my point is that stick built houses are fine if they're constructed correctly and, this is the important part, properly maintained. The biggest enemies of wood framed houses are going to be termites and moisture and both are a non-issue as long as you keep up with proper maintenance. Keep your house caulked and painted, fix leaks promptly, don't let soil get above your foundation line and watch for termite mud tubes, if your house is pier and beam then make sure the soil underneath is below the blocks the piers sit on and inspect everything under there at least once a year, probably a good idea to spray insecticide around the foundation / under your house once or twice a year as well.

[Anonymous No.1592930]

>>1592783
Let me give you a prime example: Just worked in a house today. Guy just bought it, had a home inspector in who said it all looked great. The house had "updated electrical". The "electricians" mounted the panels crooked and one panel cover overlaps the other. NOTHING was labeled - they didn't even mark which was upstairs or down. Kept smelling gas in the basement, the water heaters had leaks the gas lines. The basement floor was painted, they didn't even sweep it all they just painted over some of the dirt.
What good is hiring an inspector that doesn't notice glaring problems?

[Anonymous No.1592933]

>>1592831
What do you think they are going to do with the house

The market is going to crash, that's why they keep bringing in so many illegals to keep housing inflated. The entire economy is leveraged off houses being valued much higher than they actually are.

Its gonna be a rough time when boomers start dying faster.

[Anonymous No.1592941]

>>1592930
Had one similar recently. Inspector told them plumbing was “best looking he’s seen”. Show up to fix leak, entire house is done in gray poly/Qwest pipe, the stuff that had a big class action lawsuit back in the day. Way to go asshole.

[Anonymous No.1592988]

>>1592831
>debtor
>noun 1. a person who is in debt or under financial obligation to another (opposed to creditor).
u wot m8

Both are just going to sell it. My grandparents left 3 adult children, two lived out of state, and the third already had a bigger house. They sold the house to some guy who had to cancel his plans to move there because of family, and he resold it to a developer that knocked it down and sold the replacement they built. That's three sales from one house. Top leverage.

On top of boomers dying, millennials are a bunch of poorfags who can't into starting families and want to live in cultural centers. The money in housing is going to flow into the few most desirable regions.

[Anonymous No.1593649]

>>1583968
Over the last 5 years my investments have netted an average annual yeild of ~6.4%

Our home was valued at $120k at the time of purchase. On top of that I took out a $20k improvement loan rolled in. I put $7500 of my money down on a 5:15:80 loan in spite of the fact I have MORE THAN ENOUGH liquid assets To pay for brand new McMansion free and clear.

The $132k I didn't sink into the home went into my investments and would account for ~$180k of my assets.

My mortgage rate was a 4% 30 year, and the non-tax portion of the monthly payments was $535. My supplemental loan was a 6% 5-yr term loan on a $21k principle. Payments of $400.

I am 3 months away from finishing off the supplemental loan. By the time the 5 year term is up on the supplemental will have paid a grand total of $56k on both loans. Of which $3,400 was interest on that supplemental loan and about $21.5k on the mortgage. In other words, the loans so far have "cost me" $24.9k out of pocket to carry. Meanwhile, my investments have netted me almost $50k in returns.

Now had I done what you, and my husband wanted me to do (pay cash outright) I would be out that $25k net gain. Actually more than that because home loan interest is deductible, but nevermind that.

If instead I had paid one lump sump because that's the only way "you earn a house" I could have then instead invested that 935/mo into an investment acct. If I managed it at a similar rate the account would stand at $68k. Less the capital investments of $56k (60mos at $935) and I would have made a gain of only $12k compared to the 25k I have made.

Carry this out to the full 30 year term and that margin really starts to blow up.

tldr; the only people who don't play the jew game and pay for houses up front are dumbass poor cucks.

I own a property management firm that professionally manages third party properties specializing in single and multi unit portfolios (3-10 is our clients avg). My other corp owns just over 350 total units.

[Anonymous No.1593662]

https://www.realtor.com/realestateandhomes-detail/98-Moore-St_Ludlow_MA_01056_M47586-72645
Any thoughts on this house?
Shed needs a new roof, but that's not too hard

[Anonymous No.1593675]

>>1593662
doesn't look terrible. just some cosmetics in the interior. That interlocked gable thing is fucky looking but w/e. Those taxes are horrible though, and they're only going to go up. I'd try to get the hell out of mass if possible.

[Anonymous No.1593676]

>>1593662
>>1593675
oh and I see skylights. Check those for leaks. Also probably means a cathedral ceiling in that room which is a giant heat sink. If those rafters weren't insulated properly there could be ice damming issues too

[Anonymous No.1593688]

>>1585691

[Anonymous No.1593706]

>>1593675
It's surpisingly cheap, most houses of the same quality are around 190k at least around here

[Anonymous No.1593716]

>>1588410
>airproofing means moisture unless constant hvac
Isn't HRV mandatory in every condtructions now ? It should be.

[Anonymous No.1593718]

>>1593675
>>1593662

The walls are paper-thin, is it insulated at all ?

[Anonymous No.1593721]

>>1593706
there could be issues with the foundation, maybe septic system is shot, etc... Not much to go by on those photos. Wouldn't hurt to take a look at it, just don't sign anything, and poke around a bit. There probably is something wrong with it, but to what extent, you have to go look.

[Anonymous No.1593725]

>>1593721
judging by the window sills, looks like standard 2x4 framing. That interlocked gable bullshit is clearly an add-on, and if it was done within the past 30 years it most likely is insulated. as for the rest of the home, that's a crap shoot. You never know till you start opening up walls though

[Anonymous No.1593726]

>>1593718
holy fuck im tarded, see >>1593725

[Anonymous No.1593739]

>>1593662
I Like how heating/energy costs aren't included in the realtor description.
It's going to be massive.

[Anonymous No.1593881]

>>1585816
>nderstand that the wiring may not be great, but you could probably live with it.
this is my deal. i have a shitload of rock wool in my attic, like a foot deep, and the wiring tends to travel through/underneath it. i kinda want modern romex in a couple areas in my living room, but its not an immediate priority. planning on upgrading the wire over time. living room enxt year, new panel the year after, etc...

only thing ive done so far with updating the wiring is add a cold water piping ground to a bathroom outlet that seemed forgotten, considering the other outlet was grounded with a green copper wire solo

[Anonymous No.1594075]

>>1583371
i bought a house in August 2018
we had it inspected and there were no huge issues, so we went ahead with the sale
however, once we moved in and hired an electrician to replace some stuff we were informed that most of the wiring on the upper floor was still knob & tube
now, we're looking at a complete rewiring job
this is ok with me since i set aside money for stuff like this and honestly had no faith in any home inspection, but this would most likely be a hardship for a lot of people.

also, the house was built in 1910 so i expected some unforeseen issues to pop up and i still expect that. the roof is going to need to be replaced in a couple years at the most and the furnace is just about done, though it worked well all winter with no problems and the house itself survived the winter here in southern New Hampshire
we've been lucky so far and i feel like we have a decent house, but it still probably needs another 50K - 100K of eventual work to make it really nice - this includes demo/renovation of one of the bathrooms, roof, furnace and hotwater heater plus cosmetic stuff such as exterior paint

if you don't like to or can't do repairs yourself and you can't afford them, i suggest buying a condo

[Anonymous No.1594079]

>>1585680
If you have acces to a heat camera check the house out on a cold day. If you see no warm spots it well insulated. Otherwise it might need some rework.

[Anonymous No.1594366]

>>1594075
what the hell kind of inspector did not see the knob wirering ?? It's usually a pretty obvious one too...

[Anonymous No.1594372]

>>1594366
>what the hell kind of inspector
that's what the electrician asked
i had no idea what to look for myself at the time
you live, you hopefully learn, especially after wasting a ton of money

[Anonymous No.1594373]

>>1588410
That dude is absolutely right, but at the same time your house will cost 5-10x times (I guess) than the cookie cutter suburban house. Trade-offs I guess.

[Anonymous No.1594398]

>>1583780
Depends on where you are.
If your north and in a rich town, then yes most likely it's nice and filed with white people and old people.
If your in the south or a poor neighborhood, its full of mexicans, and meth labs.
On top of that, you'll be paying a mortgage and rent which can EASILY go up to 1,000 dollars a month, and at that point you might as well just buy a fucking house

[Anonymous No.1595110]

I'm looking at a house, but when checking it out it seemed they used plywood in some rooms instead of sheetrock.

It's older from 1976. When I viewed it they were in the process of moving out and it seemed like they are selling due to medical issues. It also seems like someone there had a mental illness (dramatic post it notes on DVD cases from ex lovers, KISS style platform shoes next to the their gym equipment, holes in wall from punches also lots of sport related injury braces and neck collars)

Also one room had a wall with plywood and a small gap they used spray foam to seal the gap.

This house has a massive yard compared to the area along with 3500 sqft.

What sucks is I live out of state and can't go check it out that often. the wood around some windows was rotted and can be knocked away with little force

[Anonymous No.1595161]

>>1595110
>can't go check it out that often
what does this mean?
are you going to buy it and rent it out?

[Anonymous No.1595200]

>>1595161
I will be moving in permanently within the next 2 months. It's just I've never bought a home in this type of condition. I'm unsure on how common their these type diy repairs are.

[Anonymous No.1595385]

>>1593649
>Over the last 5 years my investments have netted an average annual yeild of ~6.4%
so you're breaking even with the inflation rate
might as well just buy gold and bury it in your yard

[Anonymous No.1595430]

>>1593649
>average annual yeild of ~6.4%
that's not great

[Anonymous No.1597051]

>>1591541
Looks good to me, I'd move in. check timber for rot and woodworm. it looks shitty but that might just be the paint.
roof doesn't look bad to me. get your roof in order first if it's fucked. leaking roofs are the death of most houses that are otherwise very ok.

[Anonymous No.1597069]

>>1591541
You should definitely get advice from someone that knows the ropes with those houses. If you read German look at Konrad Fischer: "Altbauten kostengünstig sanieren". Generally, most things can be saved. It is all a matter of money.

[Anonymous No.1597711]

>>1583371

Buy house. IMMEDIATELY run new water lines from the meter. Run it directly to a manifold on a wall. Run new pex to all your shit.

>2 years from now come home from work. Bathroom floor is wet. Sink sprung a leak. Fuckit, tired. Turn valve off and go to bed. Spend 30 seconds fixing it on Sunday whenever you feel like it.

[Anonymous No.1597727]

>>1583371

Depends on the country. Depends on what the house is made of.

[Anonymous No.1597818]

home inspectors are retarded unless they were former contractors. I could do a better job with google and a few hours. The contractors know this shit like the back of their hands. They know the cheap repairs from the good repairs from the fast repairs to the well done repairs. They know where, how, and why corners were cut (if they were cut) and essentially understand the entire web of issues and implications one problem can cause. contractors are based.

[Anonymous No.1597838]

>>1583379
Unironically enjoy or asbestos.

I inherited a half-paid-for fixer upper and it probably has mold in the attic after the rains fucked my shit up. Just got a new roof, no signs of mold on the frame, so if anything I can easily cut out the ceiling and swap the insulation. I'm in my early 30s with a now paid off house and it feels pretty fuckin good. If I could get my ass in gear I could make the place look nice and rent it, but I refuse to snort coke or smoke meth. baby steps it is.

P.S. mold is easier to remove than you may think. If you find mold, start a thread and I can tell you what to do.

[Anonymous No.1597842]

>>1597711
This is incorrect
>pex manifold is calcified from years of not being used
>try to turn off bathroom
>knob breaks off in hand, water continues to drip out of fixture
>turn off shutoff valve under sink
>this is also calcified
>faucet continues to drop
>fuckit
>stick bucket under it.

[Anonymous No.1598321]

>>1597818
rec's on where to find a good former contractor-inspector? have they a special guild? do they tend to congregate or advertise in any place

[Anonymous No.1598336]

>>1583947
>You're correct, but unfortunately, due to Jewish housing laws, you cannot discriminate based on anything other than age in the U.S. when it comes to real-estate.
assuredly people get around that without openly flouting the law. how do they do so?

[Anonymous No.1598546]

>>1598336
ghost stories, I'm serious.

[Anonymous No.1598703]

>>1598546
This actually works?

[Anonymous No.1598864]

>>1589623
>>1592638
>>1592988
Baby boomers' empty houses are going to rapefugees, not you.

[Anonymous No.1598893]

Any strategies for frugal house ownership? I hear good things about modular homes. Does it make sense to build a simple modular home to save money? Or would it still be more expensive than just buying a house?

[Anonymous No.1598933]

>>1598893
>Does it make sense to build a simple modular home to save money?
Modular home literally means a prefabricated home, carried in by trailer.
So it doesn't make sense to say "build a simple modular home", that's just called building a house.
If you want frugal get a shitty acreage and put an RV on it.

[Anonymous No.1598994]

>>1598933
Not him but I like the idea simply because I think I'm less likely to get a lemon from a factory than from a developer

[Anonymous No.1600281]

Ok I know most trailers are terrible homes and investments, but what about block foundation homes? I would think they suffer the same issues. Help me out fellas pic related.

Just wondering if it hurts the home value and also if it's possible to raise them with more blocks.

[Anonymous No.1600294]

>tfw the house i really wanted to see / buy just went into contract

I'm legit depressed, what should i do

[Anonymous No.1600315]

>>1600294
They're like buses anon, wait long enough and another one comes along. I've been in your situation at least 10 times in the last 10 years. I've also been in the other situation 4 times in the last 10 years. I don't regret anything.

[Anonymous No.1600324]

>>1598703
yeah but you have to be really casual about it. They can sense real fear.

[Anonymous No.1600373]

>>1600315
I suppose. I'll just have to save my cash and wait a little longer

[Anonymous No.1600605]

>>1600373
Agreed. Just rent for a few years until there's another housing market crash.

[Anonymous No.1600630]

>>1598336
Depends on the situation and what sort of ad/contact method/agency is involved. One way is just not responding to the initial message and pretending you never got it, and another is telling them you're negotiating a deal with someone who contacted you first, and you'll get back to them. Usually you get multiple responses to each ad and will actually be talking to someone else anyway. Of course, if you're buying rather than selling/renting, you can just shop around some more.

A third tactic is basically >>1598546, tell them false bad stories about the place and contemplate an unreasonable asking price.
>Yeah, my buddy's friend did the cleanup and he said something about asbestos. No, he wasn't a professional, but he had a drinking problem so he did it real cheap. What's the worst that could happen? You guys aren't going to have any kids over here right? By the way, can you believe that other house in the next town over is going so cheap? Do they not realize the market is going up? I'd ask $75k over what they're asking.

[Anonymous No.1600637]

>>1600605
I live with my dad now rent free but i fucking hate living here no place to work on my shit i gotta move out soon

[Anonymous No.1600680]

If you're single, you're better off buying something you can live/rent and then rent totally once you move out of. Doesn't matter what age you are, if you get into a relationship, your partner will want to move into/onto something different than your current situation. That's why it's better to buy something in a location you can rent when you're younger. I have a friend who lives in the city. He rented in the same house for 6 years. He calculated that he's already spent $60,000 renting. Had he bought, that would've been equity. You want to look at the price to rent vs mortgage payment.

A lot of good advice in this thread about expensive problems, inspections, etc. I recommend considering what lifestyle you want, if that's subject to change, if the area you're looking to purchase has a potential return or not. You need to live in an house for an average of 5-7 years before you could sell to profit. Mostly because closing on homes costs money. You're always investing something into the purchase, and you will lose that money if you change your mind in 2 years.

I put in 4 offers, the fourth was accepted. I am very fucking glad the first 3 fell through. Bottom line, don't compromise location.

[Anonymous No.1600693]

>>1583371
Saw a house the other day that was just a basement apartment. Apparently they built that much and have up. It's a daylight basement and they put a roof on it but the whole thing is designed to have a house built on top of it. Since all of the utilities are there, obviously foundation work completed and a road built, seems like a training wheels as to custom build a house.

[Anonymous No.1601129]

>>1600693
plus that eliminates ground breaking fees. around here it's $20k just to break ground

[Anonymous No.1601131]

the guy who bought the land i was gonna buy spent 3 years clearing it and living in the small existing structure on it. then he just built off said structure making a large house and avoided ground breaking fees.

[Anonymous No.1601133]

>>1600693
>tfw you live in a literal hole in the ground

[Anonymous No.1601134]

if i was going to do it again I would get the cheapest piece of land I could find and live in a camper for a couple years. clear it and get a feel for it and if its good then build otherwise sell. clearing land on weekends is fun.

[Anonymous No.1601244]

>>1595385
Not the guy you're replying to, but what third world shithole do you live in where inflation is higher than 6% annually? In the first world, inflation is typically 1/2 to 1/3 of that

[Anonymous No.1601284]

>>1601244
>but what third world shithole do you live in where inflation is higher than 6% annually?

Young know-it-alls. You gotta love 'em.

[Anonymous No.1601299]

>>1601284
I never said inflation has never been 6% dipshit. The claim that his investments broke even with inflation over the past 5 years is just wrong.
And if you bothered to look at every year since those cherry picked years, inflation has been below 6%. So, again, in first world countries inflation is TYPICALLY not 6%, has not been 6% since the hyper-inflation of the 70s. Learn to read at a 5th grade level before posting

[Anonymous No.1601300]

>>1591541
as other anons said, check if the timber is rotted, visible and not visible timber frames, under the roof etc., its not impossible to fix it but gets ugly fast

if you dont have any idea, get some wood worker/carpenter with you and look at it

i live in a restored timber house my father restored, hes a wood worker so there is a lot you can do yourself, but theres also a lot todo

[Anonymous No.1601302]

>>1592279
Melsungen

[Anonymous No.1601305]

>>1601299

don't be mad, just admit you were wrong. And nearly an entire decade that was within the lifetime of many americans is not "cherry picking".

[Anonymous No.1601434]

>>1601305
Your discussion is about "the last 5 years" and you are outright lying. Shit that happened decades ago is completely unrelated to the last 5 years. Your claim was that he broke even with the inflation rate from 2014 to 2019, and that burying gold in his back yard would've worked as well.

[Anonymous No.1601498]

>>1583371
A few actual tips. Look at all the ceilings in every room even in the basements. Look for any staining, any kind of yellow coloring. It will tell you if you have a roof or water leak.

[Anonymous No.1603436]

>>1583780
A trailer park still has lot fees and they can increase without warning. If you own land and drop a trailer down that's different.

[Anonymous No.1605641]

>>1601498
weakest advice in here

[Anonymous No.1605951]

Still waiting for the house market to crash. Any minute now

[Anonymous No.1605952]

>>1592785
Goddammit

[Anonymous No.1606239]

Looking at buying a foreclosure; I’m about 65% of the way through the process and getting a 203k loan for the purchase + renovations. House is about 170k, renovations estimated at 40k (sweat equity so the actual cost won’t be more than half that). House has potential to be worth 400k in pristine condition. Most people haven’t bought it because it looks scarier than it is, nothing I haven’t done. Found out today that the leach field on the septic system needs to be repaired/replaced. This has me wavering on the deal.

[Anonymous No.1606291]

>>1589145
yeha because buying some rando "acre" will get you water, sewer, power, and internet hookups.

[Anonymous No.1606292]

I thought /diy/ was more like this guy.
https://www.youtube.com/watch?v=zBCbbXlVOhs

[Anonymous No.1606700]

>>1588410
based terra cotta brick salesman. never thought i'd see him post live.

what brick vendors do you recommend?

[Anonymous No.1606702]

>>1606700
edit: in the US/Italy/Croatia? I'm looking into buying land or broken down stone foundation houses in one of these places. I'm American and speak fluent Italian

[Anonymous No.1607285]

>they are not required to be trained or certified by the state
partially true, there is a class that is required, but it is not governed by any body whatsoever.
>they charge you a ton
$200-300 is a ton when you're making a purchase that's at minimum $50k? cmon now.
>they are not liable if they miss something AND that you can't sue them if they do
true because the current homeowner is liable. they are required to make a full disclosure of any latent or patent (obvious or hidden) defects. and you CAN sue them for intentionally leaving information out
>they won't put themselves on the hook for major equipment in the home
obviously. they aren't an appliance appraiser, they are a home inspector
>What should you do?
totally agree with this section, however, like >>1592783 said, finding a reputable GC is the exact same task as finding a reputable inspector. your agent better know a good inspector (and GC) otherwise you should find a different agent

[Anonymous No.1607289]

>>1607285
am retarded, forgot to tag the post
>>1592482

[Anonymous No.1607297]

>>1583910
>>1607289
I've had inspectors miss not a hole in the roof, but he didn't even mention that two joists were cut so someone could install a whole house fan . He did mention the fan ws installed up side down. But also did not mention that it wasn't vented anywhere.

So if you turned it on, the louvres wouldn't open, but it would be trying to blow nasty hot attic air into the house

[Anonymous No.1607347]

>>1583780
our house when we bought it had old heater/air conditioner and 2 NICE LARGE MAPLE TREES in the back.
First year, ice storm, over half the tree branches died/fell down and took power lines with them, had to bury our power line to prevent it happening again later on. Basement flooded, found out the old wooden staircase in the basesment was just straight dirt to the outside , installed subpump, has stayed dry for over a decade/never water in it. Electrical system was all old wiring and fuses, disconnected electrical system to house, and went EVERYWHERE with new wires, tied to old ones, and pulled the wiring into new better fuse box. Just payed electrician to double check and OK/sign(cheaper to do this part yourself/just make sure your power off for the house powers off everything(voltage testers a must)


BEWARE THE OLD CALENDERS ON THE WALLS, they will ALWAYS COVER FAILED HOLES IN WALLS. Unless its a nice pinup or classic.

[Anonymous No.1607349]

>>1584543
Beware that ceiling, it might be hiding something, otherwise NICE.

[Anonymous No.1607358]

>>1607349
Meh, I don't like it. It's a bunch of shitty little panels with some old water stains on them. I want to take it off and redo all the molding around the ceiling.

[Anonymous No.1607511]

>>1607358
And now I just realized the ceiling tiles are probably made of asbestos and it's going to be a pain in the ass the change them. :|

[Anonymous No.1607521]

>>1583371
everyone's already touched on the structural stuff so I'm going to add that you avoid houses adjacent to a shopping plaza or similar high traffic areas.
Even if it seems like a decent neighborhood, your solar-powered garden lamps and other shit will eventually get stolen

[Anonymous No.1607639]

>>1607521
Can confirm. I live next to a busy road and thieves steal shit off my front porch/try to open my car to steal shit all the time. The police say they've seen schizophrenics wandering the streets, but they can't put them in institutions where they belong.

If you have to live in a city for work, try to find a cul-de-sac or some other slightly out of the way location.

[Anonymous No.1607651]

>>1607297
of course, everyone's been screwed by someone in any trade profession before. not every inspector/GC/mechanic/etc is perfect, but that doesn't mean that they are all bad