when you bought your house, were you an informed buyer or completely clueless about the process?

We are in the process of buying our first house.
Up until now ive tried my best to read books, ask questions and be informed yet i am still learning as i go.

i am just wondering what did you do to buy a house.. did you go with the flow? did you read " buying a home for dummies"? did you feel like you were informed or completely clueless?

i was thinking of starting an "official first time home buying tips" thread...
i know i was always looking for pearls of advice... any thoughts?

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

I did a lot of research and asked a lot of questions. I didn't read any books, but read info from banks and mortgage companies so I would understand the process.

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

we read buying a home for dummies and asked everyone we know for advice, but still felt pretty clueless! we went with the flow and survived!

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

We were fairly clueless. Didn't think we were at the time, though I don't think reading or watching anything can really prepare you completely - things will always come up that you didn't expect.

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

this is where a good buyers agent comes in to play

I like (ok I love) to educate my buyers along the way

I am always happy and available to answer questions any time

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

As a 1st time buyer, there will always be things you can't anticipate. I think you're on the right track though. Knowledge will never NOT benefit you.

Homeownership is one of the biggest investments that most people will ever make in their lives and the more informed people are, the better choices they can make.

Best of luck!

Oh, and it can never hurt to talk to relatives, friends and neighbors for helpful real-world advice!

Message edited 3/3/2011 12:54:31 PM.

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

lots of books, questions to home owners we know, and of course google-ing everything!

I still feel like i have no clue whats going on.

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

When I bought my house, I wasn't yet in real estate. I was an attorney and my DH works for a bank, so you think we would've totally known what we were doing. But we still had a lot of questions.

Before we started "seriously" looking, we read a lot of books for background info. I think one of the books was written by Suzanne Wang, the old house of "House Hunters" on HGTV - LOL! And then we got a buyer's broker to work with us, so we had representation through the entire process..

I have to say, given that real estate is a very local business (and practices vary from state to state, in terms of how the paperwork is done, etc.), there is no substitute for a local real estate agent to guide you through the process.

A good agent should consult with you at the outset to understand your needs and wishes, and also explain the entire process, from your first meeting to closing. Also, a good agent should be able to make recommendations about other professionals, such as lenders, home inspectors, attorneys, etc. who can work with you and answer questions, too. Don't just view your real estate agent as a taxi driver to take you around to listings you find yourself on the internet. USE their expertise to your advantage, and let them help you.

I often feel like Tom Cruise in Jerry Maguire: "Help me help you!"

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

we did a lot of research beofre we bought our house. we really wanted to do it on our own (didnt want help from our parents)- and we did it!!!

goodluck!!! def start a thread with tips, we can all add to it and it will really help everyone who is beginning the process of house hunting

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

We were clueless.

We asked a lot of questions and thankfully had a great lawyer who helped walk us through the process.

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

Hi, Lisa!!! Thought I would post a house buying check list, I found online!!! Mary

http://www.ourfamilyplace.com/homebuyer/checklist.html

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

Posted by hunnybunnyxoxo

Posted by Beth

this is where a good buyers agent comes in to play

I like (ok I love) to educate my buyers along the way

I am always happy and available to answer questions any time

actually i had sent you an fm but never heard back from you...

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

no worries.. i imagine you are quite busy

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

I was clueless. Our agent was really great with questions, as was my lawyer.

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

DH and I were *completely* clueless (we were newlyweds, barely 23 ) but I would recco using a home inspector that another friend or family member has used. Your realtor WILL recco one of theirs but, in my opinion, these are inspectors getting kickbacks for giving clean reports to unsafe homes.

Just watch Holmes on Homes on HGTV

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

Posted by bella321

DH and I were *completely* clueless (we were newlyweds, barely 23 ) but I would recco using a home inspector that another friend or family member has used. Your realtor WILL recco one of theirs but, in my opinion, these are inspectors getting kickbacks for giving clean reports to unsafe homes.

Just watch Holmes on Homes on HGTV

Message edited 3/3/2011 6:51:23 PM.

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

I 100% agree with Beth.

I will admit that when I bought my home, my DH and I were totally suspicious of recommendations from our realtor and researched everything (home inspector, attorney, etc.) on our own.

Now that I am in the real estate business, I know that -- at least in my office -- we recommend other professionals who we trust and we know will go out of their way to do a good job for our clients. I always recommend 3 or 4 people, if asked, so my customer has options and can interview several people to make their own decision. If we hear any complaints about an attorney or home inspector or handyman or whoever, they are off of our list.

Real estate is a business built on credibilty and reputation. I would never jeopardize my repuation -- let alone my customers' interests -- by recommending someone who I didn't honestly believe would do a great job for my customer. I gain nothing by referring attorneys or home inspectors except peace of mind that everything is in good hands.

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

Posted by Beth

Posted by bella321

DH and I were *completely* clueless (we were newlyweds, barely 23 ) but I would recco using a home inspector that another friend or family member has used. Your realtor WILL recco one of theirs but, in my opinion, these are inspectors getting kickbacks for giving clean reports to unsafe homes.

Just watch Holmes on Homes on HGTV

OMG....I would never - nor would anyone in my office take a kick back from a home inspector, mortgage banker or anyone else we recommend (it is illegal)


I get most of my recommendations from people past clients have used and liked

I normally point out issues with homes before we even get that far


I don't even take free lunch for my open houses from mortgage bankers- I would never want people to think I wanted them to use someone b/c they gave me something in return

I also only make recommendations when asked


FYI...that show takes place in Canada

Re: when you bought your house, were you an informed buyer or completely clueless about the process?

I read House Buying for Dummies. DH was working as a bank manager at the time so he knew all about mortgages which helped answer a lot of our questions. We went to his coworkers for help a lot as well.