A. The house: Size, location, condition.
- How big do you need? Single family, condo, two-family. How to choose.
- Test driving a town.
- Triage for spending money on a house.
B. What you’ll be spending on beyond your monthly payment.
C. Agency and negotiation
- Types of agents, consumer rights.
- Don’t believe everything you read: Zillow, Bad graphs
- Bidding wars and hype
- Foreclosure and short sales
Size, location, condition.
How big do you need? Single family, condo, two-family. How to choose.
Why are some towns so expensive? Why are some, right nearby, not as expensive?
Condition. What are the most expensive repairs?
- Big repairs: exterior, major rewiring or plumbing, kitchen, bathroom
- Next level: boilers/heating equipment, roof replacement, chimneys and flue work, replacing multiple windows and doors
- In condos, share exterior.
- In two-family, more exterior costs.
- Lead paint
- Energy efficiency
What you’ll be spending on beyond your monthly payment:
- Brokerage fees (built into the cost of the house, you don’t pay extra)
- Closing costs:
- total deposit
- pre-pay taxes and insurance (3 months. 1 year)
- Fees to your lender. $2000-8000. This includes the closing attorney’s fee.
- home inspection $400-1500
- Attorney $1500 Most pay under $500 in addition to the closing attorney fees.
- Repairs and improvements $5-10,000
- Moving/nesting $1000