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what are my options??


cincityplayer
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I am in the market for a mortage have been waiting on 1 CC to report so my score goes up the required pts. while I have been waiting I began thinking?? I'm going for 100% loan but I need money for a stove, refrigerator, washer and dryer etc.. What are my options? I know some sellers leave appliances and the like in the home but what if I cant find a seller doing that?

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As you make the deal, negotiate for the appliances. Most people that are buying a new home (your sellers) would love an excuse to buy new stuff. For sure make it a condition of doing the deal. Ask for 3-6% of the sales price for closing costs. Ask for everything you can thing of asking for, then just give up/give in on the things that are not very important to you.

Charles

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Buying new stuff for my new house just about did me in...

Fridge, blinds, tools, etc...

At first I thought some of the stuff could wait but living without a fridge, etc. wasn't possible.

The few things I did skimp really screwed me.

I got good blinds for my entire house except for the master bedroom. It was big mistake because the temporary paper blind didn't block out any heat. In South Texas and being on the second floor, that room (which was the biggest one upstairs) turned into an oven. And it faced the most sunlight throughout the day.

I thought I could save a few clams by avoid those blinds but ended up getting screwed in much higher utility bills because of so much sunlight heating up the room.

I didn't skimp for the fridge and I am really glad. I paid a few clams extra and it was worth it one year later (ice maker, water filter, extra room, etc...).

There are plenty of hidden costs involved that I never factored in which pushed me right up to the breaking point in debt.

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Someone can almost write a book on the hidden costs of home ownership...

However, the needs vary quite a bit from household to household. And it depends on the part of the country too...

Myself as a first time home buyer, I got nickeled and dimed to death with the small stuff here and there. Water hose, shovel, pooper scooper (dog did his business in the areas around the apartment complex), etc...

One cost that hit me out of the blue was the Homeowners Association Fees. The reps for the homebuilder told me that they were covered in the mortgage payment. WRONG... I ignored the first quarterly bill. And the second. The third bill was a threatening letter demanding immediate payment.

And being in South Texas, the heat was a big concern. I now have five ceiling fans (of different sizes) and it makes a big difference in circulating the air and making the house cooler.

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I'm a 1st time home buyer and these extras are going to kill me also, and I haven't even closed yet!

Here's some of the things one might need to purchase.

- Lawn Mower (Me, I had to get a riding mower as I'm getting an acre)

- Washer and Dryer

- Furniture (Right now, I only have one bedroom, the new home has 4 with a formal living room and dining room in addtion to the family room and breakfast area)

- Plants and Trees (Home is new construction so I get the basic builders package which isn't enough)

- Tools to maintain the yard, house, plants and trees (hoses, sprinkers, carts, hammers, screws, nails, tape, etc)

- Window blinds and curtains (30 windows + 2 sliders to cover. Blinds and curtains are NOT cheap!)

- Fees to hook up the utilites

- And tons of other things I havn't thought of yet.

Hope this list helps others out some, because I didn't figure in all these additional costs when I was shopping for a home.

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Your comment on the empty rooms. For YEARS the down stairs family room had nothing in it. The only thing it was used for was at holiday time or family get togethers, as we were the only ones with enough room to put rental tables and chairs in. Funny thing is that Anna was so happy when we finally go furniture for it, and her sister was upset as the "tradition" was messed up.

Thanks for the additional Heads up. Many times people are shocked when they find out that the First Time Home Owner programs cost more than regular rates, just due to the increased risk for the lenders. There is so much that costs a lot that is not taken into consideration.

Charles

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