First Time Home Buyer / Need Advice

**Chad** · 12-27-2009, 07:52 PM

Greetings,

I am looking to move out of NY and into PA, preferably to York county due to its niceness and affordable homes.

About Me:

first time home buyer
excellent credit score
self employed 7+ years
good income (over $100k to hint)
will be married before I officially buy a home
looking to do 15 year mortgage
would prefer private community with amenities

I spoke with someone from Gemcraft Homes at the Taylor Estates community in York county. Nice homes.

I visited 3 models, then the 4th one where they had their mini sales office is the one that stunned us. It was all decorated, furnished, painted, carpeted, etc. The whole nine yards. Its called Aspen. Beautiful home and me and my fiance want to buy that model home as is to avoid 6+ months in waiting on a new home to be built and plus, this one was built in 2006 and cost less to buy as is than to build from scratch.

Attached are screenshots of good faith estimates and price sheet. They want $349k for the model home which they claim they normally would have sold for $495k.

What are your thoughts? What "first time home buyer" advice can you give me, especially on the following?

negotiating skills
proper research on builders/sellers
house warranty
mortgage loan (I want a 15 year only)
closing costs (how to reduce)

Thanks in advance.

Good Faith Estimate
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Price Sheet
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**markbrian** · 12-28-2009, 07:10 AM

The best advice I would give you is to hire a local buyers agent to assist you.

Some builders will not pay a buyers agent unless they have already registered their clients BEFORE they visit a builder's homes. Remember the people at the builder's homes work for the builder, and not you.

Such as the builder saying the home would normally sell for $495K...What are the comps for this home, not what the builder says, but the unbiased facts, figures & information that your buyers agent could help you with?

There are many areas that the use of a buyers agent is recommended, especially for a first time home buyer.

Good luck and best wishes in purchasing your new home!

**First Time Home Buyers** · 12-28-2009, 08:13 AM

Originally Posted by markbrian

The best advice I would give you is to hire a local buyers agent to assist you.

Some builders will not pay a buyers agent unless they have already registered their clients BEFORE they visit a builder's homes. Remember the people at the builder's homes work for the builder, and not you.

Such as the builder saying the home would normally sell for $495K...What are the comps for this home, not what the builder says, but the unbiased facts, figures & information that your buyers agent could help you with?

There are many areas that the use of a buyers agent is recommended, especially for a first time home buyer.

Good luck and best wishes in purchasing your new home!

I'd have to echo all these thoughts above.

If you're buying your first home you need help. It's like going into a lawsuit without knowing the legal rules.

Best thing to do is hire a buyer's agent. The seller will pay the commission to your agent in almost all cases.

Good Luck!

**BoiseRealEstateSoup** · 12-28-2009, 11:58 AM

[QUOTE=markbrian;72100]The best advice I would give you is to hire a local buyers agent to assist you.

/QUOTE]

ditto to infinity...

**tanmaysnv** · 02-17-2010, 12:06 PM

You may want to think about buying a home with other family members, friends or a partner. Buying with others can be a solution to coming up with the deposit and sharing costs. It's important to carefully think about what might happen if circumstances change and one of you wants to sell their share of the property.

**Realty Advisors** · 02-17-2010, 08:29 PM

Originally Posted by tanmaysnv

You may want to think about buying a home with other family members, friends or a partner. Buying with others can be a solution to coming up with the deposit and sharing costs. It's important to carefully think about what might happen if circumstances change and one of you wants to sell their share of the property.

hello my friend... here i am sharing something different ...
1. Bring a digi-cam and begin each series of photos with a close-up of the house.
2. Pay attention to the home's surroundings...
3. like the location? Is it near a park or a power plant...?
4. Immediately after leaving, rate each home on a scale of 1 to 10, with 10 being the highest...

now short of that things and compare with your budget.... then go for it ...

**Bangkok_Office** · 02-18-2010, 12:15 AM

Consider to have an agent to assist you in looking good property listings in your desired area. Pay attention on the house status (pests, leaks, etc.), search the house background and consider also the environment of the house. Be aware on the agreement and find a deal that best suits your future plans in life.

**Lease_Abstract** · 02-21-2010, 11:10 PM

You can also check out this thread for additional advices and things to consider when buying a property, http://www.realestateforum.com/showt...-Buying-a-Home! but the best way that can assure you with a good result is to consult a legal adviser.

**SellPropertyFast** · 02-22-2010, 04:42 AM

First of all advance greetings for your marriage. I like that you are planning ahead of time, I think all of those advice are very valid just trim it according to your idea's. Best for you!

**Greg** · 02-22-2010, 06:01 AM

You are missing the most important part of the home buying adventure. You need to get a loan. Talk to some lenders in York and see if you even qualify.

Self employed and moving to a new area might require you to wait 2 years before you can get a loan. Basically, when a self emplyed person moves to a new area they are starting over unless you work online and your work will folow you.