You are so stupid,stfu. WHY wouldn’t you want to buy a fixer upper that is the best way to profit on the resale. Have you even owned a home?

Book report complete, lol. Homeowner child of homeowners checking in.If they are married already then it doesn't matter.Highly recommend. Someone who is not selling their home is more likely to be honest with you. Wouldn't even tell them if there is a particular house, just "hey, new to this area, seems like a nice neighborhood, any big problems?" Neighborhood just north of my mom I did this; noticed a few driveways were cracked or appeared to have been replaced. Neighbor confirmed foundation problems in the area. Generally want to check out drainage/cracked pavement or walls. Also if there are a lot of vehicles parked on the street as this can indicate that there are more rental houses vs. owner occupied.Facts. Odds are you won't have as much time, money, and energy as you think you will. So many people live in a meh to crummy place and don't fix it until they are ready to sell it, if then.Property taxes, insurance and HOA can greatly increase your monthly payment and generally never decrease/actually increase over time.

Other than a monthly fee an HOA can require specific paint colors and can dictate things like landscaping, pets, repairing a car, having a garage sale, parking, etc. I've had multiple customer the past few months come in to the nursery with a list of specific plants and trees that they are allowed to use on their property and/or say that the HOA requires them to spend a minimum amount on landscaping plants for their yard.

If the schools are good then the property taxes are likely higher. If you don't have school aged [or close] kids then I would prioritize the location on your work commute/local amenities and lower property taxes, not school quality. If you need to live in an area with good schools you can sell your first place and move into a higher tax area later.

Watch out for the need for flood insurance or special storm insurance; also for what is excluded by many insurers in your area. In TX there was a big issue with mold about a decade ago and most insurance excludes water damage/mold from their coverage. They still cover fire, some general liability, and you can get your roof replaced after hail damage, though your deductible could be significant. If you can swing it keep a savings account for home repairs/insurance deductible since a higher deductible plan may cost a lot less annually.

So-called home warranty insurance could be worth it. The cost of appliances and HVAC have gone up a lot and aren't likely to decrease soon. If you can't sock away that repair money then a small monthly payment may be easier to deal with than a larger unplanned expense.Both very good replies; duplicate some of the things I've mentioned. Availability of high speed internet service is a fairly new issue to check before buying now. Could be worth browsing the local recent zoning board meeting and such to see if there has been something large and undesirable approved near your chosen house.

Would try for 3 bathrooms and at least a 2 car garage if you can. If you are 40+ consider if the house would still work for you if you are older/less physically capable.

When I last used a home inspector and mortgage broker I went online and read reviews for various people in the area. Not sorry. Re:inspection particularly watch for bad roof/multiple layers of shingles, water problems/mold, foundation, cat urine [dog damage is easier to fix] or heavy smoking, very old sewer pipe [some are still clay/broken/roots], and large trees that could do a lot of damage if they drop a limb or fall. Getting large trees removed is quite expensive and if not done well might affect the foundation.

My reaction exactly. Lmao.

OPie never getting a house. Many others will never be able to afford houses either. I dont think that reality has set in for many people yet. Still trynna finish their underwater basket weaving degrees.

Honestly this is what millenials do. You can put all the extra cost from fixing up a home, ridiculous property taxes, fees on top of fees, and paying the bank half the cost of the home and put that into stocks, bonds, crypto. Perfect example. Our last home that we "bought" aka rented from the bank cost 275k asking price. After all of the fees, interest rate etc the total cost for a 275k home was close to 600k. We paid more in interest to the bank than we did in principal for the house. That is asinine.

Times have changed from the 50's and 60's. Buying a home is not the american dream anymore. It is not an asset and it is more of a liability. You can always rent a home. Reap the same benefits without the headache. Remain more liquid that way.

They try to scam you saying you are throwing away money renting but honestly it equals out in the long run with upkeep costs, taxes etc. The average person wont pay enough on their home to even break even especially at these inflated pandemic prices.

look for good schools in the area if you plan to have kids
Avoid HOAs like the plague
check for Mold
Check for ****ty placed tile floors
Check if Septic tank is good
Ask neighbors about the surrounding neighborhood
Check roof
Open permits
learn how to be a tradie that way you can do things yourself.

just lmao at not realizing that when you rent you're not only just paying someone else's mortgage, but their property taxes, hoa fees, and a profit on top of it all. lol, much better.

Terrible advice. I advise the opposite. Buy the crappiest house in the best neighborhood yoiu can afford. Try to ensure that all the value in that house you buy is associated with the land it sits on.....so long as the house is livable.

This depends on your version of "Fixer Upper"

- A livable house that is dated, but structurally sound, with good internals. - these are usually good for first time home buyers. You can learn how to do simple improvements. I don't consider this a fixer upper, this is just a dated house. It doesn't NEED to be updated, but it can benefit from it.

- A REAL fixer upper, that basically needs everything. This is a terrible idea for a first time home buyer. They will 100% be in over their heads unless they are tradie-skilled and know how to do at least 85% of the repairs themselves.

Best advice itt imo.

not exactly. My rent has stayed the same throughout the years. Property taxes have increased in my area especially with this pandemic surge. Rent is the same because I signed a longterm 3 year lease right before this surge so the timing was lucky. They cant adjust the rate until the lease expires. In that time I can choose to freely move to a house that fits my budget. This is what I mean by remaining liquid. Dont have to worry about selling, paying ridiculous closing costs for a buyer, paying an idiot realtor. I just pack up and move.

All the people that say don’t move into a HOA are the reason HOAs exist.

No one wants to live next to your overgrown lawn, RV parked on your curb with a chicken coupe in your backyard.

To those who say we will never be able to buy a house:

This is the type of house we are looking at:
https://danbolig.dk/bolig/slagelse/4...dium=exitlinks

It costs around 1.675.000 DKK ($272.965,79]. So with a downpayment of 300.000 DKK (around $49k) we can easily afford it.

I guess the market in Denmark is very different from the market in the US. My brother and his wife saved up 25k as a downpayment for a $326k house and got it with no problems.

As much as I hate to agree with the old crusty butt sloot, I agree 100%.

"Sweat" equity isn't worth it.

Buy something finished, or something that needs minor updates(light fixtures, paint).

The main benefit of renting vs buying is its cheaper due to scale to rent a townhome or apartment in the same area as owning a home, generally MUCH cheaper (~50%). In fact it can often be financially better to rent if these savings are invested appropriately. Great option to save long term , have flexibility, or make more money long run potentially


That said, if you’re renting a home vs owning a home then yea you’re likely a poorcel. Don’t rent unless you can save money renting

They're most likely still doing fine. If remaining liquid or being able to move frequently is important to you, then sure there's an argument for renting. But you're fooling yourself if you think you aren't still paying mortgage interest, property taxes, an HOA fees. You may not get an itemized bill, but you're still paying them for someone else.