Tagged With "Home Buying"

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Re: Buying your first home? Here's what you should know.

Bonnie Squires ·
Thanks this was good info. I've finally found some one I can trust and buying my home from its small but i like it and allot cheaper than my other place. I wont be in my 80's and still paying off a home but i'll be in my 60's. I'm going to put some extra money down on the home when i get my taxes back.
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Re: Buying your first home? Here's what you should know.

Lisa Hartley ·
Thank you for that information. It gives me more things to think about when I get my new house soon. I've already been approved through a lender for a loan, so now I have to make sure I have enough money saved up and find a house, hopefully soon. I also have a realtor I'm working with. Any tips before I buy let me know.
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Re: Buying your first home? Here's what you should know.

BeckAtsila ·
The government has a program called ABLE Accounts for people on Social Security Disability. Basically, if you meet certain criteria, you can put your money in an ABLE account and it won't be counted against your resource limit. The downside is if you die with any money in the account, the State gets the money. It also has limits on what you can spend it on. But it's better than nothing and may actually help some of us get off the dole.
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Re: Buying your first home? Here's what you should know.

Mo Brownies ·
I think its worth nothing about this new Startup company that will match a percentage of your savings DESIGNATED for home purchaes only. Check them out. But take note, you might have to work with their lender. https://digs.co/features/
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Re: Buying your first home? Here's what you should know.

FreebiePharm ·
What a great article! Even informative when it's not your first home purchase!
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Buying your first home? Here's what you should know.

Briana ·
Looking to invest in your first home and you just don't know where to start? The Penny Hoarder lays out exactly what you need to expect when buying your first home. Is this helpful? Feel free to share your first home buying experience with others in this thread! Learn more about buying your first home here: https://bit.ly/2H0mkIO
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Re: purchasing new home

Moore Income ·
If your credit is bad, your biggest priority should be to get that up when it comes to buying a home. Most banks will be very cautious of who they lend to and bad credit is not a good sign to them. If you have good credit, when going to purchase a home, there may be pressure to purchase a home that is more than what you actually need. It is a good financial fitness practice to always live below your means. Banks are in the business of making money, so if they think they can get more money...
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purchasing new home

Rachelc65 ·
I am would like to buy a home in the near future it has just set in on me the importance and value of good credit and credit scores and good spending habits with very hard earned money any good suggestions are welcomed
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Would You Buy a "Tiny Home"?

Kirsten Cherry ·
My husband and I have been obsessed with tiny home living since we heard of it years ago. We always wanted to try it out, but then we had a kid and the thought of living in 200sq feet with a toddler sounds horrendous! But there are still "tiny" homes out there that are just big tiny homes! I'm talking under 1000sq ft for a family. It's not something people in the home-buying process usually look for, but it definitely intrigues us! Would you move to a 960 sq foot house?
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Re: Would You Buy a "Tiny Home"?

David P Miller ·
I had a 978sf house ... which included 2-Br/2-Ba, eat-in kitchen, living room, dining room, W/D, attached garage, attic, and a front and back porch. It was a lot more house than I really needed, but I bought it anyway because the price was right and the location was great. Right now, I live in a 480sq.ft. Studio Apartment, and its a little crowded, but still liveable, even luxurious at times. I could adjust to a 200sf Tiny House with little problem, but what I'd really like to have is a Tiny...
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Re: Would You Buy a "Tiny Home"?

Bonnie Squires ·
@Kirsten Cherry Hi we moved from a 2000 + up and down home with a double lot. To 1007 foot home and land. The house is 707 square foot and the land 300. It is a 1920 home and i'm really enjoying it. Its small and does take time to get use to but i like it. We have our son who 27,daughter 24 son 16th husband myself plus 3 dogs that live with us. It has an upstairs with 3 bedrooms and a bathroom. Has a living room kitchen bedroom down stairs laundry and bathroom down stairs. I'm just trying to...
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Re: Would You Buy a "Tiny Home"?

Bonnie Squires ·
@David P Miller they have them on trailers to that you hook up to your auto.
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Re: Would You Buy a "Tiny Home"?

Moore Income ·
My wife and I live in a 3 bed 1 bath apartment and it is way too much space for us. We find we only actually use our room and the other living areas in our house. I think I would be fine with a house with 1 bedroom 1 bathroom a small kitchen and living room area. I have found that the more space you have, the more stuff you end up having. I am already ready to downsize!
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Re: Would You Buy a "Tiny Home"?

Jules ·
My boyfriend and I lived in a van for a few months while traveling around Colorado. Now we live in a 720 1 bedroom apartment and we're considering downsizing to a studio because we just don't use that much space - even considering our two big dogs. Living in a small space made us be more mindful of our possessions and of keeping our space clean and organized - because we had to. It also made it easier to refuse unnecessary purchases because we simply didn't have the space for it, and we...
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Re: Would You Buy a "Tiny Home"?

Kirsten Cherry ·
My favorite place we ever lived in was a 500 sq ft 1 bed 1 bath apartment while my husband was finishing grad school. I loved that it kept us from buying unnecessary things as well. I think that was the best part of a tiny space. Honestly, the tiny home we are thinking of is the same size as our current rental, and the mortgage would be the same as rent! So fingers crossed it all works out! Thanks for sharing your experience! When you downsize, you should share a post on how you make a...
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Re: Would You Buy a "Tiny Home"?

Kirsten Cherry ·
That sounds like a great size for a 3 person family! If it's just you, the 480sq ft sounds even better! I love that people these days are adjusting more to living in spaces smaller than 20 years ago. It seems that everyone thought bigger was better and that's not necessarily the case! Thanks for sharing, David!
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Re: Would You Buy a "Tiny Home"?

Kirsten Cherry ·
With our family of 3, our third bedroom just seems unnecessary. We have used it maybe once a month to house visitors, other than that, it often becomes crowded with the extra bedding we keep for visitors. We lived in a 1 bed 1 bath before kids and it was our favorite place every! It was 500 sq feet and every room had a window so the space was light and airy. We loved it.
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Re: Would You Buy a "Tiny Home"?

Kirsten Cherry ·
I couldn't imagine living in 700sq ft with 5 adults and 3 dogs!! Eek! I'm so glad you are able to make it work and are loving it!
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Re: Would You Buy a "Tiny Home"?

Bonnie Squires ·
@Kirsten Cherry its not that hard. Our dogs are small does so they don't take up allot of room. The 2 things I miss is having a big bathroom and kitchen counter space and cup boards to put things away. We have lived in a 3 bedroom mobile home before and with 10 people most was kids or teens at the time. All so had 2 dogs So i guess living small doesn't get to me.
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Re: Would You Buy a "Tiny Home"?

KellyFromKeene ·
Yes, I would, if it were just me and my (2 teenage) boys. We lived in an apartment smaller than that, but they were smaller then as well. I don't have a lot of 'stuff' but I do like privacy and space to myself. With adding my man to the mix (a 50 man who has never lived with anyone and doesn't have kids), I think the transition will be much easier if we all have some space My parents lived in a small cabin (600 sq ft) for years after my brother and I left home. I had a small house (900 sq...
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Re: Would You Buy a "Tiny Home"?

Olivia ·
One consideration in choosing a tiny home is function. Currently we're renting a smaller three bedroom, because it's in a safe area, good rent, and was recently redone. It allows us to have people over, something we value. If we just needed space for ourselves, a one bedroom, one bath, would work. Another is how attached you are to your stuff. Maybe this will change, but I love my grandparents bedroom set, the big overstuffed antique sofa we salvaged, and our 1930's china hutch. None of...
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Re: Would You Buy a "Tiny Home"?

FreebiePharm ·
I would! We lived in a 3 room tent with 3 kids and a dog for a month when we made the big move from Florida to New Hampshire and couldn't find a place to stay! It was very liberating to not rely on so much material stuff and be resourceful when you didn't have access to the usual daily luxuries of life. I felt more mindful and calm of mind.
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Re: Would You Buy a "Tiny Home"?

Bonnie Squires ·
FREEBIEPHARM this house was built in the 1920 and the 1 closet i thought would be real good to hold our can goods and things is small. To who ever did work on this place changed ever thing around. I seen pictures of the kitchen but they was old and where the stove,refig,counters was in the pictures i really like it but once we moved in it was totally different. No gas stove its electric and the refig not where it was in the pictures and cuber painted blue in the it was like a black color.
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Re: Would You Buy a "Tiny Home"?

Bonnie Squires ·
FREEBIEPHARM you went from a warm place to a cold place. That must have been a big adjustment for all of you. I miss NY but not the cold. I only want snow Christmas eve/day that's it lol Some ways I miss the bigger house and other ways I don't. Like my kitchen i'm like where do i put this same with the bathroom. But the nice thing is not allot to clean here.
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Re: Would You Buy a "Tiny Home"?

FreebiePharm ·
All 5 of us ironically LOVE the cold! We love the 4 seasons, too! I get the whole kitchen thing. We are renting now and there is only one small cabinet that we use as a pantry...so hard! We are looking forward to all the drawers and storage of our new kitchen. Small living... I suppose you must utilize more vertical storage concepts!
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Re: Would You Buy a "Tiny Home"?

Aoife ·
Kirsten, my family of seven (two adults, 5 children under 10) lived in 900sq feet. Two bedrooms, 1 1/2 baths. 5 acres. Detached garage. We moved to 1600 sq ft ranch style house w 17 acres and added a chicken coop and a pole barn, and baby but subtracted an adult within the first year. The bigger space means we have to be more aware of adding clutter. Seven people can have too much, especially since we also homeschool. We clear down to the essentials when we reach an obvious too much stuff...
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Re: Would You Buy a "Tiny Home"?

Moore Income ·
@Aoife coming from a big family myself, I agree that when you have more people, it creates a lot more clutter. Having a smaller space is a great motivator to get rid of excess junk!
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Re: Would You Buy a "Tiny Home"?

Pax ·
I would. Right now I am looking to downsize to a 400 sq foot apartment. (If I thought I could make it work and thought it would cost less in rent, I would go for a smaller space.) Once I get all my debt paid off and save up enough to pay cash for a house, I plan on purchasing one. Depending upon the route I take, I might get a house that is around 960 - 1,000 sq feet and run it as a bed and breakfast OR I might get a small 400 or less sq foot house just for myself. I would have the living...
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Re: Would You Buy a "Tiny Home"?

KellyFromKeene ·
It certainly is! New England is home to old homes with super tiny closets. I make a point to keep all my clothes in the closet- I mean that I don't want to store off season clothes. keeps my clothes down to a reasonable amount. Kudos to the smaller homes with lots of kids. I love the idea of a small home, but want to wait till the kids are gone. I have awhile.
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Re: Would You Buy a "Tiny Home"?

Cindy705 ·
My husband and I have been pondering the idea for the last 2 yes, he's about to retire and I already have. There's always positives and negatives but the one thing that does in courage the idea is to be able to travel anywhere at anytime and still return to be with family.
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Re: Buying your first home? Here's what you should know.

Ana24 ·
Great article. Really helpful. I'll definitely make a note of important things. Thank you for sharing.
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How to pay off your mortgage early

Briana ·
Any homeowners here that are curious about how to pay off your mortgage? What's your favorite tip?
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Re: How to pay off your mortgage early

AnnieB ·
Here's a simple trick I learned in banking: If you make one extra mortgage payment a year, on a 30 year mortgage you'd drop it down to 22-26 years, depending on your loan's rate. On a 15 year note, it drops to 12-13 years. This can be accomplished by making half your payment every 2 weeks.
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Re: How to pay off your mortgage early

Briana ·
WOW - really great tip. Did you do this @AnnieB ?
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Re: How to pay off your mortgage early

AnnieB ·
No, but I know people who did. I've got credit cards to get rid of first.
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Re: How to pay off your mortgage early

Keri Stringer Dunaway ·
I have a coworker that does this. Right now my husband and I are behind a payment on our mortgage. My name is not on the loan so they won’t discuss business with me or I would call them and ask them if they could add a payment on to the end of the loan and begin paying it just as stated above. Or does anyone else have a better solution? My husband will not call them
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Re: How to pay off your mortgage early

KellyFromKeene ·
My fiancee puts any money leftover at the end of the month towards his mortgage, and he also budgets to pay extra on the principal monthly. It has shortened his mortgage from (I think) 20 years to 13.
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Re: How to pay off your mortgage early

Mathmommie ·
Hubby and I bought last summer and signed up for biweekly payments because of the extra payment per year. Some sites I looked at said we’d finish the 30 year mortgage about 7 years early. ...But, after checking the statements the servicer was floating the half payments until it matched with the second payment to apply to the loan. Since we only get paid once a month, not biweekly the payment option was not the most convenient for us, and since the interest is calculated daily having our...
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Re: How to pay off your mortgage early

Mathmommie ·
My husband is like that too. He hates dealing with things over the phone. I call the number, explain who I am hand the phone to him to verify who he is and give permission to talk to me and then take back the phone. He gets annoyed even at this, but he will do it.
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Re: How to pay off your mortgage early

KellyFromKeene ·
I just say that I am Bob, or my partner. If you know all the verifying info, then they will talk with you. Yes, I know I don't sound like a man, but it works.
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Re: How to pay off your mortgage early

friardave ·
Instead of a biweekly payment, why not just add extra principal payments when doing your monthly payment? Put as much as you can every month on principal and you will be amazed.
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Re: First time home buyer

Moore Income ·
Definitely something I would like to know more about as well. I have just started putting my info out to try and get more information on getting a loan for a house. What are some fees that one might not know about or may be a little hidden when it comes to getting a loan on a house?
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Re: First time home buyer

Alexis Grant ·
A few pieces I learned from my own experience buying homes -- once in Virginia, another a few years later in Florida... You see realtor fees when you SELL a house, but not when you buy. When you sell, you have to pay a percentage to your own realtor and to the realtor of the buyer. I bring this up even though you're looking to BUY because my first time around, I didn't realize what a big hit this would be when we sold a few years later. Because this piece didn't affect us when we purchased...
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Re: First time home buyer

FreebiePharm ·
Also plan for property taxes. Research the area to get an idea of what they may be and file for homestead exemption to lower them.
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Re: First time home buyer

Melissa ·
Thank you, both! @Alexis Grant , when you purchased your houses and had home inspections, how did that work? Did the bank set something up and the inspector provided you with a report? Or did you hire an inspector yourself and do a walk through with them?
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Re: First time home buyer

FreebiePharm ·
Melissa, We are currently in the process of purchasing our second home and have hired an inspector ourself. We had the option of hiring separate ones that do the general inspection and then looking for ones that check the sewage system. I cost analyzed each and we saved a little bit of money by going with the inspector that does it all. We chose to have a general inspection, sewage, radon, water, of which the total cost is $1,240. Another cost to purchasing a home! We will do the walk...
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Re: First time home buyer

Alexis Grant ·
@Melissa Honestly, it's been a while so the details are fuzzy. But I believe the realtor knew someone who could do the inspection (not the bank) and set that up for us. We weren't on-site for walk-through, but if it's an older house that might be a good idea. I remember being impressed my first time going through this how comprehensive / long the report was!
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Re: First time home buyer

AnnieB ·
I just bought a house in the past year. My realtor gave me a list of inspection companies in my area, along with what each one inspected. He said that he was not legally allowed to recommend one. I went with the company who had the longest list of criteria inspected for (radon, mold, water damage, plumbing, electrical, structural, slope of yard, boundary line). I didn't want anything missed. IIRC, the inspection cost about $1300 here in Ohio, but it was the best money ever spent. There WERE...
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Re: First time home buyer

Melissa ·
@AnnieB Wow, I love this! Thank you for the information, this is so helpful! Just out of curiosity, when you negotiated the repairs, did the sellers actually fix any of the issues themselves or did they calculate the cost to fix and enter that amount as a seller concession?
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Re: First time home buyer

AnnieB ·
@Melissa - we had seller credits AND seller repairs. The seller had a faulty Federal Pacific electrical box (they are known to catch fire) that we demanded that they replace. (It was the main electric box. It involved the seller calling the electric company and having them pull the meter so the electrician could change the panel. I knew this since my father was an electrical contractor.) There was mold in the attic that we had them hire a remediation company for and show written proof it was...
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