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Konstantin posted:While many modular built homes are build with good materials, the big issue is that they don't hold value nearly as well as stick built homes. Why is this, and in what area (and where can I read more about it)? We've heard the exact opposite from everyone we know. Among other things, a stickbuilt house doesn't need to survive any travel, and in most of the ones I've been in, it shows. Not epoxying the ceiling nails to compensate for wind-caused structural flexing, for example (a problem in the 10-year-old house we're currently staying in, in a fairly windy area). Modular homes are sought-after in our area (northern VA), according to our realtor.
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Apr 16, 2012 06:01
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Advent Horizon posted:Are those real brick walls? If so, how thick are they? Yes, they are real brick over framing, so I'm guessing they're just one layer thick. The house is extremely solid, no creaking, no warping in the walls or floor. It's 21 years old. We've found one crack in the brick, but it's minor. Probably due to settling. The house was listed at $270 originally, which was high for the state of the interior but not for the neighborhood. After the seller dropped the price a couple times and negotiation, we got it for $215, which we consider a good deal for a 2400 sq ft brick home on .5 acres in a nice, private neighborhood. Of course it came with a "to do" list. Couple interior pics for reference:  Dated kitchen. We've already ripped down those cabs over the island. The rest will be painted. Appliances, floor and counters are being replaced. Oh, and that wallpaper was a bitch to remove.  Gorgeous master bath. What you can't see is the fake plastic "marble" on the tub, the worn vinyl and the gray toilet that's been scratched within an inch of its life.
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Apr 16, 2012 09:59
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Bright Lights On posted:the gray toilet that's been scratched within an inch of its life. How... do you scratch a toilet?  You sit on it to do your business, maybe once in awhile you run a rag over it to clean it, but what could you possibly to do to actually scratch it?
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Apr 16, 2012 16:11
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daggerdragon posted:How... do you scratch a toilet?
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Apr 16, 2012 16:18
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daggerdragon posted:How... do you scratch a toilet? The place that I bought hard water issues so the jets (?) in the back of the bowl had completely limed up and there was massive build up on the rear of the bowl as well. It looks like someone had tried to removed the build up with a Brillo/Scotch pad or maybe even a wire brush. There are very noticeable scratches but the toilet is ancient and needs to be replaced anyway.
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Apr 16, 2012 16:28
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Splizwarf posted:Why is this, and in what area (and where can I read more about it)? That's really unusual, everything I've read says the opposite, but you should believe your realtor over some guy on the Internet, especially if the realtor can show you numbers to back it up. The DC metro real estate market is very unusual anyway, so it wouldn't surprise me if things were different there.
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Apr 16, 2012 16:35
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What's the hivemind opinion on kit houses?daggerdragon posted:How... do you scratch a toilet? Already been real-answered, but hypothetically? Dogs. Dog claws scratch loving anything. Glass, marble, stainless steel, wood, plastic. Nothing is safe.
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Apr 16, 2012 17:30
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daggerdragon posted:maybe once in awhile you run a rag over it to clean it, Maybe? loving goons.
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Apr 16, 2012 19:47
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LloydDobler posted:Maybe? loving goons. I don't know about you, but I don't need to go at my toilets with a Brill-o pad. A rag and some Comet once a week and it's like new again. Now if you're a typical neckbeard and take gigantic, toilet-staining and -scratching poos, yes, maybe you'd need the Brill-o pad and I'd hope you clean it more than "once in awhile"... Less toilet porn, more house porn plz.
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Apr 16, 2012 20:38
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daggerdragon posted:How... do you scratch a toilet?
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Apr 17, 2012 02:26
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Here is the toilet in question: Notice it's not exactly white? More like a mauve-gray? That's how you scratch a toilet. By using one covered with some cheap color treatment. But even then, it seems you'd have to use a toilet a lot to scratch it. Well,this toilet got quite a bit of usage. According to neighbors and the realtor, the previous owner was the owner of a Chinese buffet who also sponsored Chinese families trying to move to America. In other words, my house was basically a boarding house for seven years, which explains why there were nine single mattresses in the upstairs bonus room. And that is how to scratch a toilet.
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Apr 17, 2012 03:47
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I'd blame the gobs of free chinese take out over the boarders.
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Apr 17, 2012 22:13
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Does anyone know of a good resource for estimating repairs on a house? Like flooring, windows, redoing a kitchen or bathroom..
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Apr 19, 2012 02:48
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ohjoshdarnit posted:Does anyone know of a good resource for estimating repairs on a house? It's very dependent on labor costs in your locale. Best way is to get referrals to reputable contractors and ask for quotes.
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Apr 19, 2012 05:02
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There's a house we've fallen in love with that's been for sale since last August (at least - I think it's been vacant for at least a year and a half based on several electrical shutoff notices). I stop by every once in a while because it's in a beautiful waterfront spot. Somebody's been making 'upgrades' lately. The pressure treated decks were recently stained without any prep work, and now I see the railings are getting attention. They had horizonal wires for balusters before but now some retard is replacing them with 2x2s so it meets code. I say retard because they aren't good at cutting each 2x2 the proper length, nor are they good at hammering, nor screwing, nor planning ahead. The 'finished' rails are obviously crooked and still don't meet code because the spacing is too uneven and over width in places. The unfinished ones look like swiss cheese from all the screws/nails that have been pulled to move the balusters after they'd been installed improperly or crooked. I haven't been inside lately (went in once in January when the door was unlocked; I locked it behind me) but I can see there's a 5 gallon bucket of stain on the kitchen island. That can't be good. I'm pretty sure the owner moved out of state so I have no idea who's doing these things. They sure aren't improving the curb appeal. The house itself is solid and appears to have been put away properly (all the water lines were drained before being unoccupied during winter, for instance), it's just these little details that I can't figure out. If it's still available in October we may take a serious look at it. I suspect it will be, not many people want to buy a house 1/4 mile off the road (by that I mean you have to walk). Edit: If you look at this webcam, on the left side are three houses. It's the one in the middle. Advent Horizon fucked around with this message at 06:31 on Apr 19, 2012 |
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Apr 19, 2012 06:23
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Would definitely appreciate some advice from you guys about this: I'm moving to an area where my parents have lived for 30+ years. I was set on renting, but my parents think it's a much better idea to buy and want to support it substantially. I'm talking a 40-50% downpayment  Their proposal is to buy a 4+ BR house, for me to rent out 2 rooms to university students, and I would cover the mortgage. My monthly payment would be less than renting, and I can live in a much bigger place. I plan to be in this area for at least 3-4 years, but even if I move out, my parents are very interested in being landlords and renting out the house. I greatly appreciate their support, but I feel bad that it might be money-losing for them while I get all the benefits. Do you guys have any thoughts? For more details: I'm looking in the 92506/92507 zip codes around UC Riverside, California at $250k-$450k 4+ BR houses. My income is around $50k and will quadruple in 3-4 years (I'm a hospital resident)
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Apr 19, 2012 13:58
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My thought would be that if your parents really want this to happen, and really want to keep doing it after you're done with school, and have that much money to front it, they should just buy the house themselves and you should be one of the renters. That way everyone wins (they get the rental house that they want and at least one renter that they can depend on and treat the house well, you get a place to live with landlords you know and you don't have to put your name on a mortgage for a house you will only be in temporarily and take on the massive responsibilities and risks of being a landlord while being incredibly busy with your medical poo poo). I think it would be a terrible idea for you to try to be a landlord while you're in school, and I think being a landlord is kind of a sucker's bet in general, but if your parents have the money and the time then there's nothing stopping them from trying it out. If you guarantee that you'll rent from them for awhile, it would help them have a little stability in the first going as well.
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Apr 19, 2012 14:19
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That makes sense. I obviously have to do more research into this, but since they're putting such a big down payment, they're the ones buying the house anyway.
SnowWolf fucked around with this message at 16:47 on Apr 19, 2012 |
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Apr 19, 2012 16:41
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It seems weird to me to buy a house that big with such a high probability of renting it. If they want to be landlords, they should buy a duplex or fourplex from the get go, it's less risky. (you're unlikely to have 100% vacancy for long if at all, unlike a single house)
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Apr 19, 2012 16:49
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Well I just backed out on an offer after my catastrophe of a home inspection. Goodbye house I originally loved and goodbye money.
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Apr 19, 2012 17:07
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xorex posted:Well I just backed out on an offer after my catastrophe of a home inspection. Goodbye house I originally loved and goodbye money. Was the house in bad shape or did you have a bad inspector? You should at least get your earnest money back.
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Apr 19, 2012 17:32
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xorex posted:Catastrophe of a home inspection. It is good to not be so in love with a house that you are blind to its flaws. That said... I'm super curious how catastrophic the inspection was! Termites? Subsiding foundation? Asbestos & lead paint?
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Apr 19, 2012 17:32
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The home inspector was great. He was extremely thorough and checked absolutely everything. The house has termites, the stucco is soaking up water (needs to be cut so it doesn't touch the ground), there is some wood rot, all windows have been penetrated or are at the age they will be and need to be resealed, and the roof needs to be replaced ASAP. Really, a lot of typical stuff but the roof was the killer since the house was already at the upper limit of what we are wanting to spend. It's possible the seller might have come down around 12k but this wouldn't really have much impact on our upfront costs. We're just out of the cost for the WDO and home inspections.
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Apr 19, 2012 17:55
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SnowWolf posted:Would definitely appreciate some advice from you guys about this: I'm moving to an area where my parents have lived for 30+ years. I was set on renting, but my parents think it's a much better idea to buy and want to support it substantially. I'm talking a 40-50% downpayment If they are offering a $100,000 down payment, and the house is yours to sell after the mortgage is paid off, well that sounds like a huge money losing situation for them. But on the other hand it basically sounds like they want to invest in rental property, and have you pay the mortgage for the first 4 years in exchange for finding renters and paying less than what you normally would in rent. And if they are going to be the name on the mortgage, then sure that's fine as long as you want to deal with being a landlord for 4 years. IMO, the money you'd save from doing this weird buying/landlord situation is negligible in the long run when you factor in all the hassle you'll be dealing with when in college.
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Apr 19, 2012 18:27
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Now the sellers are offering to have the roof replaced. This would need to be done outside of closing though since it is a short sale and I guess they don't want their bank to know they have the funds available to do such a thing. poo poo, man.
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Apr 19, 2012 22:12
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BoA approved the short sale of the house i'm trying to buy. It's really hard to be excited.
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Apr 19, 2012 22:19
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xorex posted:Now the sellers are offering to have the roof replaced. This would need to be done outside of closing though since it is a short sale and I guess they don't want their bank to know they have the funds available to do such a thing. poo poo, man. So what you're saying is the sellers are admitting to lying on something and want to involve you in the lie? RUN. Also, you might want to notify the bank.
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Apr 19, 2012 22:23
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Ran I did. I currently feel relieved. Hopefully there will be no regrets in the morning.
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Apr 20, 2012 03:35
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xorex posted:Ran I did. I currently feel relieved. Hopefully there will be no regrets in the morning. Plus, a termite infestation is a huge red flag, since you have no idea how much damage they have done already and there is no way to find out without opening up the walls. At least you have a good idea how much a new roof is going to cost, with termites the damage could be minimal or it could be "you'll have to tear this house down to the studs".
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Apr 20, 2012 04:33
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Konstantin posted:or it could be "you'll have to tear this house down to the studs". And then replace those too. 
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Apr 20, 2012 13:27
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We backed out of the offer we had on a house in Seattle. Not because the inspection revealed anything we couldn't take care of, but because the seller wouldn't give us any price reduction based on the inspection findings. I think the seller feels like she had already done us a favor by accepting our offer that was 20k below the asking price (which had already been reduced 25k from the original list price). So when we came back with the inspection results and asked for $7500 in closing costs, she balked. Oh well. We got our earnest money back and only lost the cost of the home inspection. The search continues.
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Apr 20, 2012 14:37
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Kalli posted:Quick, DVR like 20 episodes of Holmes on Homes and Holmes Inspection and marathon them~ My inspection went super good, with only minor issues like a loose outlet cover and some slightly short insulation on the AC lines, so these shows just ratcheted up my fear for no reason apparently. And even though I intellectually knew this, it's only now hitting me that I'm going to have to like, buy a washer and dryer and furniture and stuff. I have money budgeted for it but the reality of the bank balance going down even farther is now staring me in the face. 
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Apr 22, 2012 03:40
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Sophia posted:My inspection went super good, with only minor issues like a loose outlet cover and some slightly short insulation on the AC lines, so these shows just ratcheted up my fear for no reason apparently. And even though I intellectually knew this, it's only now hitting me that I'm going to have to like, buy a washer and dryer and furniture and stuff. I have money budgeted for it but the reality of the bank balance going down even farther is now staring me in the face. If you can, get a gas dryer! They're better! (I have no reference or evidence for this but my gas dryer sure seems great to me.) Also get a front-loading high efficiency washer!
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Apr 22, 2012 07:05
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So now we may end up renting again rather than buying. We found a rent house that meets all our criteria, which, as I've been checking periodically for the last year, is very uncommon in my area. The rent is a little more than what we were looking at for out monthly payments after buying, but it is a lot cheaper, short term at least, taking down payment, closing, and repairs in to account. My question is, if we do decide to rent this place, how do I break it to my realtor who I've worked with for six months. I like the guy and he's really done a lot for us during our search. I think this may make him, very, very sad. 
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Apr 22, 2012 16:38
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xorex posted:My question is, if we do decide to rent this place, how do I break it to my realtor who I've worked with for six months. I like the guy and he's really done a lot for us during our search. I think this may make him, very, very sad.
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Apr 22, 2012 17:27
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You could also ask him if there are any social media sites or other places where you could post a positive review of him and his services and make sure you fill them out.
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Apr 22, 2012 17:44
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Sophia posted:You could also ask him if there are any social media sites or other places where you could post a positive review of him and his services and make sure you fill them out. Good idea. I know he uses Linkedin so I could write a him a recommendation.
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Apr 22, 2012 21:09
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So we found a house that we're in a love/hate relationship with. It's really charming, has had a lot of killer upgrades and renovations done but we're in a lock with the things that make it not work for us like not having a laundry room to have a full size washer and drier. Basically, there is space for a stackable. The house is lower in price than we were initially looking so dumb ideas are forming. How incredibly stupid would it be to buy a house and then plan on making an addition to the house like a laundry room? I understand that you can get a home improvement loan with your initial house loan. What would something like that even cost, ballpark? Like an 8x8 addition, 10K, 20K? We're seeing it again today to hopefully find more stuff we hate about it so we can dismiss it totally.
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Apr 24, 2012 20:37
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I Might Be Adam posted:So we found a house that we're in a love/hate relationship with. It's really charming, has had a lot of killer upgrades and renovations done but we're in a lock with the things that make it not work for us like not having a laundry room to have a full size washer and drier. Basically, there is space for a stackable. The house is lower in price than we were initially looking so dumb ideas are forming. How incredibly stupid would it be to buy a house and then plan on making an addition to the house like a laundry room? I understand that you can get a home improvement loan with your initial house loan. What would something like that even cost, ballpark? Like an 8x8 addition, 10K, 20K? We're seeing it again today to hopefully find more stuff we hate about it so we can dismiss it totally. The first rule of buying a house is "if you don't walk in the front door and immediately love all of it, keep looking". Keep looking.
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Apr 24, 2012 21:35
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Me and the wife looked at a home the other day that was perfect up until the very end. It was listed as three bedrooms, and they just basically stuck a bed in what I could consider a mudroom and called it a bedroom. How do people think they can get away with that? Like this tiny rear end room which is next to the garage and off the kitchen is a bedroom.
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Apr 24, 2012 21:42
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