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

  1. Types of agents, consumer rights.
  2. Don’t believe everything you read: Zillow, Bad graphs
  3. Bidding wars and hype
  4. 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

Agency and consumer rights. 

Designated agency.

Reading real estate data

Seasons in Real Estate

Foreclosures and short sales