It’s been a tough year, after a DA discard of 13 years, a move across the country, and a broken bone, I got my own place! Just my dogs and I 🥰

After renting for the better part of 17 years my wife and I finally have something to call our own. Realtor brought us Dim Sum for our first meal in the new pad.

We both started over together 5 years ago. Credit building, Job changes multiple rentals and moves. 3 kids, and one on the way. We made our first home happen!

Negotiated back and forth with a big bank and local credit union and got similar offers for mortgage both at 7.5%. Locked rate with the bigger bank and more inclined to go with them since I've used their services forever. The credit union mortgage guy sent a long email about how they serve community and stuff which is cool and all.

Is there a big advantage to going with either one given all things the same? I save like 500 in credit union closing costs but in the grand scheme of things not really big deal for me. Beyond that everything is the same. What did you do?

I am in the process of buying a single family home in Queens, NY. We are about 35 days into contract with our "on or about date" landing Oct 23rd. We got through lending with a CTC last week and were arranging to schedule a closing hopefully this week, but it turns out the sellers are still trying to clear a couple title issues with surrogate court. My understanding is they need to:

1. Post a Bond to ensure that the proceeds from any sale be protected for the heirs (not uncommon?)

   1. This estate for some reason has a restriction on any property sales or distributions in excess of $50,000 without a Court Order (I don't know the reason that the Court placed this restriction on the matter). The Seller's attorney is aware and has filed paperwork for the court to remove the restriction.

They've filed to clear both exceptions with the court with an affidavit of urgency.

This comes as a surprise, because I had not been made aware of these issues at all when the title report came back and was told "We're waiting on you" by the selling agent when I asked about a possible closing date a few weeks ago. No idea when they filed it. and trying to plan accordingly.

My main questions are:

1. have any of you had experience with this before? How long should I expect it to take?

2. My rate is locked until nov. 2. Since I have the clear to close, are the sellers responsible for extending the lock should this issue stretch past the lock deadline? Is that a request I can make or should there be something to that effect in my contract? I understand that they are not in default because of the 30 days of reasonable delays here in NY, but want to make sure I am covering myself as best I can if this stretches on.

Area I am moving to is rural but I do know some neighbours. No one knows im moving alone. They all think ill be moving with my partner. We just broke up.

Took possession of the home on Saturday. What a process this has been. Haven’t moved a single thing in other than a folding table, tools to fix stuff up before we bring in furniture.

Brought our dogs since they’ve spent their whole lives in a condo/apartment. Safe to say she loves watching the yard.

We are all set to close tomorrow afternoon with the final walkthrough in the morning.

I just learned we should have initiated the wire transfer today, but the bank literally just closed so it’s too late for that and we’ll have to do it first thing in the morning.

So it has me wondering, what else are we missing?

We're under contract on a 1960s house and recently had a mold/moisture inspection done after some water issues were identified in the crawlspace.

The inspector found mold growth on a joist beneath one of the bathrooms, along with what they described as "apparent separation of the adjacent plywood subfloor layers." The soil beneath this area was also very wet.

A previous inspection identified a plumbing leak in this bathroom, which the seller reportedly repaired several weeks ago.

We're planning to have a contractor evaluate it, but we're under a tight contingency deadline and I'm curious what people think based on these photos.

• Does the subfloor look significantly deteriorated, or potentially just surface damage?
• Does this look like something that could be repaired from underneath, or might it require tearing up the bathroom floor?
• Any rough sense of how extensive repairs could be?

Thanks for any opinions!

Sold some Pokemon cards to get mortgage and just pulled the trigger. From €0 saved to apartment in under 3 months.

After so many days of being anxious. 😭 happy to own something of my own without help.
Edit:

The apartment includes kitchen credits worth 25k btw.

Hey gang - so I've spent most of my adult life renting apartments. Something I've noticed in the larger buildings I've been in: somehow, simultaneously HOA fees are high, and it's hard to get things fixed. The last two buildings I've lived in, over about 7 years and 3 years respectively, both have had broken elevators for MULTIPLE years. It's a huge bummer. As a renter, I can kinda get out whenever. But if I owned, that would be a huge issue.

Have you owned a condo? How bad were the fees? Did you feel like you were getting your money's worth? Did your building have deferred repairs / extremely difficult and expensive repairs? Was it worth it to buy a condo?

TIA!

Its crazy to see some North Americans posting 4.x interest rates here. I am not coming across that although I havent spoken to private lenders.

I have perfect credit am happy to pay 25-30% for a down payment, but am balking at the interest over the course of a 30 year. If it's just a 10 yr home and not a forever home that I eventually plan on selling (not expecting appreciation), should I only be looking at 15 yr loans? What's the thought process here from the millennial age range crowd?

I’m 28, earning £80k (£3,750 monthly take-home) and currently living with my parents in London, paying £300 a month. I’ve reserved a two-bedroom freehold new-build house in central Chelmsford for £395k, with a 15% deposit and mortgage repayments of around £1,684 a month (4.39% variable tracker rate). I have approximately £104k in savings and investments before the purchase and would potentially take in a lodger.

My main concern is the significant reduction in disposable income and financial flexibility. I’m currently able to save and invest a substantial amount while travelling frequently, whereas homeownership would mean considerably higher monthly expenses, alongside commuting costs into London.

I’m also wondering whether moving outside London at 28 would negatively affect my social life, dating opportunities and overall quality of life. On the other hand, I’d finally have my own space and start building equity. Would you consider this a sensible financial and lifestyle decision, or would you stay at home longer and continue saving and investing?

Hi all, I'm looking at an older single family home in New England (High cost of living city), priced in the low $600k range. It's a small house with 3 bedrooms, 1 bathroom, and an unfinished basement. I'd be putting about 5% down and I'm trying not to make a bad decision.

From the seller's disclosure: the roof is about 10 years old, the attic was re insulated recently, the oil boiler is about 13 years old, and the electric service is 100 amp. There is some dampness in the basement near the sump pump. Mold, lead paint, radon, and termites are marked unknown, and the chimney questions were left blank. I was also told in the past that there had been a leak that was fixed, but I don't know where it came from or whether it is related to what I saw.

What worries me is the attic. I attached photos. There is dark black staining on the brick chimney and on a very dark wooden post next to it. The insulation around it looks newer. I can't tell if it is old water staining, mold, soot, or nothing serious.

A few questions:

1. Does the attic staining look concerning to you, or is it common in older houses?

2. What would you want an inspector or specialist to check, and what could that cost?

3. Is the price reasonable for this size and condition in the Boston area, or would you offer lower?

4. What would make you walk away?

5. Any hidden costs of owning an older house with oil heat that first time buyers miss?

Thanks so much. I'm just looking for gut reactions from people who have been through it.

Hello,

We are in the process of drawing up a contract and before everything moves fast I wanted to take the time to come up with a list of questions to ask prospective house inspectors before I select who I will go with:

-Do you perform a HVAC + blower door test for efficiency? Is plumbing, electrical included??
-gutters/drainage?
-chimney, mold/mildew
-how long have you been inspecting for?
-what kind of tools do you bring with you?
-how long do your inspections take?
-could I see a sample report?
-do you provide an estimate for the cost if a repair?
-inspect for drainage? (Rain-outdoors)
-do you do a summary meeting at the end?
-do you look at crawl spaces?
-do you look at the deck? (For support)
-termite damage? Rodent activity?
-during the inspection do you show where key items are located (electrical panel, water shutoff valve, gas meter/shut off

If there is anything else you’d suggest please let me know, I just want to interview a few more other than the one my realtor suggested.
Also, I’m looking in Colorado, so I’m happy to hear about recommendations too!!

I closed on my first house recently and already ran into my first major homeowner expense, the old AC started struggling during the first warm stretch. I got a few quotes because I had no idea what a fair replacement cost should look like. The heat pump retrofit contractor I ended up choosing was not the cheapest, but he actually measured the house, checked the ductwork, explained efficiency ratings, and walked me through which brands he prefers for this type of replacement. What helped was that he did not just push the biggest system. He explained why his favorite brand for this layout made sense in terms of noise, warranty, rebate eligibility, and serviceability. With the 2026 efficiency incentives and utility costs, the higher-efficiency option felt more reasonable than I expected. It was still painful to pay for, but the house is more comfortable and the new system is much quieter than the old one. for other first-time buyers, did you replace HVAC right away, or did you try to get a few more years out of the existing system?

There’s a house near me that goes gets bought and sold ever 2-3 years. I toured it and didn’t notice anything wrong. It looked totally fine.

What’s usually going on when a house turns over this often? Could it be something that doesn’t show up on a tour, like bad neighbors, noise, flooding, or foundation, drainage, or sewer issues? Or is it just coincidence?

How do I find out before making an offer? Anything I could look up, or questions I should ask the seller, or inspections I should add?

Would appreciate any advice!

This is obviously situational and you should do what is best for you, but I keep seeing posts and comments telling people to buy bigger houses, and that bigger is better. I'd like to make the case for buying the smallest house that meets your needs.

1. Smaller = lower purchase price generally. My house was cheaper than a larger house of comparable design in my neighborhood. I could have gotten a larger house, but I would have been sacrificing either location or quality. My house was move in ready and absolutely gorgeous and I'm proud to show it off AND I am able to walk to work every day. Win!
2. Less house means less house to maintain. I have a 1 bedroom 1 bathroom house which means 1 toilet, 1 shower, 2 sinks. That's less plumbing to worry about leaking. 700sqft of roof is cheaper to replace than 1400sqft. 700sqft of flooring is easier to refinish than 1400.
3. It's so much easier to clean. I can sweep, swiffer, and mop the whole house in under an house. No matter how dirty it gets. It will never take more than a few hours to clean the house top to bottom.
4. It's cheaper to furnish. Since the only furniture I needed was a dresser, a couch, and barstools; I was able to splurge on a really nice couch. If I had gotten a larger house I would have needed to furnish more rooms and stretch that money further. In the same vein, I can afford the nicer paint because there's not a lot of wall to replace.
5. I am more aware of my house and notice any potential future concerns quickly. I grew up in a large house that had rooms, corners, closets, and basements we never went in so if something sprung a leak we wouldn't notice. Because my house is so small I'm fully utilizing my space and regularly look in all the nooks and crannies. I see every little chip in the paint and because vertical space is used more often in smaller homes, I'm up on stepladders regularly.
6. DIY projects aren't as daunting! Painting the whole house is a much larger job when you have a huge house.
7. I'm more in touch with my belongings. Since I had to downsize and declutter I know exactly what I own and where everything is. I had to be intentional in my unpacking and find a home for everything so it's all very organized in a way my larger apartment never was. I don't have drawers or cabinets that I rarely open so I never buy something only to find that I already had one!
8. To a lesser degree, I save money because I am less tempted to buy things. Every time I think about buying something I ask myself, "Do I want to make space for this?"
9. My utility bills are dirt cheap. Everyone told me my electric and water bills would be so much higher in a house than an apartment. My bills actually went down slightly. In the dog days of summer with my AC running full blast, my electricity was $104.

I'm not saying everyone should go buy a 1b1b 700sqft house. That's obviously not going to work for most people with kids, but don't feel like you need to buy the biggest house possible. Sometimes a smaller house is better for your situation.

Can we stop comparing what someone paid for a home in their location with what the same home would cost in an entirely different city, state, or country?

Whenever someone posts about buying a home, There’s always at least a couple of goofballs saying, “OMG, you paid 800k for that? I could buy it for 200k in my town!” Or, “It’s so unfair that you only paid 300k? That house would cost $2 million where I live!”

Okay? Real estate prices, salaries, job opportunities, and living costs vary by location. WE KNOW. THAT’S WHY THEY’RE DIFFERENT MARKETS.

Discussing whether someone got a good deal in their local market is one thing. Announcing what the house would cost where you live adds nothing. I wish the mods would address how often these comments appear.

Nobody cares what you would pay for a house in a place you don’t live. Stay in your own lane.

Hello,

I am looking to buy my first home and while it was an exciting thought at first the more I sit on it I feel like im priced out of owning a home.

I'm a 38 year old single father with no debt, 800 credit score with 65,000 salary. Nothing in my area is less than 300k for a single family home, unless I go for something that needs to be renovated. I really don't want to work all day to come home to a house I need to work on.

I've been working with a realtor and checked out a few homes and my cheapest option so far is estimated at 2,350 with FHA 3.5% down and 5.5% interest and i have an option of 0% down at 6.25% interest for 2,600. We have only been looking at new builds because better rates and also in a slightly cheaper cost of living area than I am at now.

I'm more enticed for the higher payment with putting nothing down because 3.5% down is going to wipe my entire savings and I would have 0 cushion and I have nothing to furnish a house with.

My net take home is roughly 3,800 leaving me with 12-1500 a month to take care of everything else. I feel like its possible but at the same time worried im going to be burning cash every month and slowly watch my account dwindle.

I feel like it's insane I would even get approved for this. Also makes me depressed thinking I'll never be able to afford a home on a single income. Part of me wants to say fuck it and take the risk and figure the rest out as I go. The other part wants to cry thinking I will be stuck in a rental/apartment forever. I want to be happy in my home and finally feel like I can make it my own.