About to buy my first house

[GuerrillaUnReal]

Hey folks,

I'm very excited and rather nervous that I'm about to buy my first property. I've been fortunate in the past to work out leasing deals or find different arrangements for cool properties but this is the first time I'm buying my own place.

I've got a realtor who's a family friend helping me and we're slowly going through the process. But this is rather frightening for me as it's so new and I'm committing to so much money.

Do you guys have any advice for buying a rural property/house? We're having the home, well and septic inspected.

Right now my biggest problem is planning out the living room and how many big screen TVs I'm going to have in there. I want something resembling NASA mission control with every hockey game in the NHL on one side and financial tickers on the other. I'm thinking a big 70" and then three 40" TV above the 70" for other hockey games. Then three 32" below the 70" for other sports games and financial info. 

[Inglorious Bitch]

Hey folks,

I'm very excited and rather nervous that I'm about to buy my first property. I've been fortunate in the past to work out leasing deals or find different arrangements for cool properties but this is the first time I'm buying my own place.

I've got a realtor who's a family friend helping me and we're slowly going through the process. But this is rather frightening for me as it's so new and I'm committing to so much money.

Do you guys have any advice for buying a rural property/house? We're having the home, well and septic inspected.

Right now my biggest problem is planning out the living room and how many big screen TVs I'm going to have in there. I want something resembling NASA mission control with every hockey game in the NHL on one side and financial tickers on the other. I'm thinking a big 70" and then three 40" TV above the 70" for other hockey games. Then three 32" below the 70" for other sports games and financial info. 

That's a beautiful room.

[onan]

Hey folks,

I'm very excited and rather nervous that I'm about to buy my first property. I've been fortunate in the past to work out leasing deals or find different arrangements for cool properties but this is the first time I'm buying my own place.

I've got a realtor who's a family friend helping me and we're slowly going through the process. But this is rather frightening for me as it's so new and I'm committing to so much money.

Do you guys have any advice for buying a rural property/house? We're having the home, well and septic inspected.

Right now my biggest problem is planning out the living room and how many big screen TVs I'm going to have in there. I want something resembling NASA mission control with every hockey game in the NHL on one side and financial tickers on the other. I'm thinking a big 70" and then three 40" TV above the 70" for other hockey games. Then three 32" below the 70" for other sports games and financial info. 

Well, it all comes down to money. Most of what I can tell you is very general.

Rural property will be cheaper than property closer to, or in town. The downside of rural is there will always be more driving. Less or no ability to walk to any business. It will be quieter. Services will be harder to find and schedule. Need something large delivered? planning is essential.

Are you buying an existing home, or new construction. New construction will afford you better chances at building your mega entertainment center than an existing home will, but it isn't impossible. New construction you can pick what size power box to supply your home with power... to light up 12 flat screens. Existing homes, well there are always work arounds.

I know you have a friend showing you properties and that is great... but trust me, get another realtor to show properties as well. Do not sign an agreement to tie you into one realtor. That may get tricky for you if you are looking in one area only but if you are looking is different areas it shouldn't be a problem. Again do not use only one realtor no matter how nice and trustworthy they are.

[albrecht]

I would add for rural property getting a proper survey, inspect the septic system and well (and how new, how deep, etc,) check the various laws, restrictions, or covenants (if any,) and check distance (and type) of nearest fire station (can impact insurance,) and check the floodplain.

[aldousburbank]

My criterion for happy rural homesteading has always begun with appropriate  water-well configuration or potential and ends with the ability to pee outside when you want to.

[Mind Flayer Monk]

Make sure you have a good view of the south sky for satellite signal.

[GuerrillaUnReal]

These are all great recommendations.

The things you guys are talking about is exactly what we're working on. I rented a house down in this area and then loved it so much that I decided to buy a place down there. One of the downsides of the last place was how gross the water was. I got pretty sick down there once or twice and I think it was from the water. What can you guys tell me about water filtration? Could I get a reverse osmosis system big enough to supply a house? Quimby likes his showers.

This place is so sick, it's a couple acres on this little mountain with it's own beach over looking one of the most dangerous inlets in the world. I'm further down the river than the last place so I can watch where the river meets the ocean and hopefully will be able to watch 60,000 ton tanker ships struggling to make it into the inlet. 

I've been looking at indoor residential bowling alleys lately.

[GuerrillaUnReal]

Well, it all comes down to money. Most of what I can tell you is very general.

Rural property will be cheaper than property closer to, or in town. The downside of rural is there will always be more driving. Less or no ability to walk to any business. It will be quieter. Services will be harder to find and schedule. Need something large delivered? planning is essential.

Are you buying an existing home, or new construction. New construction will afford you better chances at building your mega entertainment center than an existing home will, but it isn't impossible. New construction you can pick what size power box to supply your home with power... to light up 12 flat screens. Existing homes, well there are always work arounds.

I know you have a friend showing you properties and that is great... but trust me, get another realtor to show properties as well. Do not sign an agreement to tie you into one realtor. That may get tricky for you if you are looking in one area only but if you are looking is different areas it shouldn't be a problem. Again do not use only one realtor no matter how nice and trustworthy they are.

I'm picking up a rural property tucked away about 40 minutes outside of a big city and about 10 minutes away from a small town. The property has a neat 3 bed room cabin that should be a sweet bachelor bad.

I'm rolling with 200 amp single phase, so it's going to be fun. I imagine my property will be seen glowing from space.

Oh no worries man, I appreciate that advice. When I say I'm working with a family friend who's a realtor, I mean I'm getting the info and have her legal department work on this. The two small town realtors representing this property are precious with their fluffing. I found this place through searching for the last five months for the perfect place. For me it's about the property, the realtors don't really matter.

[GuerrillaUnReal]

That's a beautiful room.

That obviously isn't the place. I just posted that to show an absurd TV wall which is what I'm thinking. I want one big TV, three medium sized TVs and three small TVs and I have about three - five grand to do it.

[onan]

I'm picking up a rural property tucked away about 40 minutes outside of a big city and about 10 minutes away from a small town. The property has a neat 3 bed room cabin that should be a sweet bachelor bad.

I'm rolling with 200 amp single phase, so it's going to be fun. I imagine my property will be seen glowing from space.

Oh no worries man, I appreciate that advice. When I say I'm working with a family friend who's a realtor, I mean I'm getting the info and have her legal department work on this. The two small town realtors representing this property are precious with their fluffing. I found this place through searching for the last five months for the perfect place. For me it's about the property, the realtors don't really matter.

Different states different laws perhaps. I was working with a realtor in Oriental, NC that after a few meetings I couldn't stand. But my wife and I signed a contract with him. To buy any property there I had to list him as realtor. It broke my heart to walk away from a water front with dock and ramp for under 200K.

We ended up with a great view much further north and we are quite happy but my dock is public or I use a private marina.

[albrecht]

I'm picking up a rural property tucked away about 40 minutes outside of a big city and about 10 minutes away from a small town. The property has a neat 3 bed room cabin that should be a sweet bachelor bad.

I'm rolling with 200 amp single phase, so it's going to be fun. I imagine my property will be seen glowing from space.

Oh no worries man, I appreciate that advice. When I say I'm working with a family friend who's a realtor, I mean I'm getting the info and have her legal department work on this. The two small town realtors representing this property are precious with their fluffing. I found this place through searching for the last five months for the perfect place. For me it's about the property, the realtors don't really matter.

Sounds sweet.

There are lots of  "whole house" water filtration and/or softener systems out there but I would first determine what the "issue" is (send your well water out for testing.) Then you need to figure out what system(s) filter out that material, how much capacity/use expected (are you a type to be washing, showering, etc at same time, how many people, etc), and compare models and costs (and future cost) to ensure you get the right system.

The other thing I mention with rural property besides the survey is to double-check no easements, mineral/surface/water rights issues, or any other encumbrances (title search will usually find out.)

[jazmunda]

My in-laws live the rural life and I plan to do that too one day. Congratulations and good luck with it all.

The only advice I have to give is make sure you have a good internet connection to listen to Art.

[GuerrillaUnReal]

Different states different laws perhaps. I was working with a realtor in Oriental, NC that after a few meetings I couldn't stand. But my wife and I signed a contract with him. To buy any property there I had to list him as realtor. It broke my heart to walk away from a water front with dock and ramp for under 200K.

We ended up with a great view much further north and we are quite happy but my dock is public or I use a private marina.

Yeah I think so man, I haven't even heard of that up here. I've contacted probably 200 realtors in the last five months and now am working with three that I admit... I'm kind of playing against each other.

Yeah that's heartbreaking man. I know that feeling of losing a sick place. I lost a mountain cabin that was ridiculously luxurious for what they were asking. Missed out on the deal because of some silliness. How long did it take you to find the right place? My search was like Odysseus.

[onan]

Yeah I think so man, I haven't even heard of that up here. I've contacted probably 200 realtors in the last five months and now am working with three that I admit... I'm kind of playing against each other.

Yeah that's heartbreaking man. I know that feeling of losing a sick place. I lost a mountain cabin that was ridiculously luxurious for what they were asking. Missed out on the deal because of some silliness. How long did it take you to find the right place? My search was like Odysseus.

All told about 7 months. Was worth it. The only other advice I can offer is do things the way you want them do not sacrifice for a few dollars. The few extra thousand spent will pay off in quiet satisfaction in a very short time.

[GuerrillaUnReal]

My in-laws live the rural life and I plan to do that too one day. Congratulations and good luck with it all.

The only advice I have to give is make sure you have a good internet connection to listen to Art.

Dude totally, one of my requirements for this place is I wanted a place in the middle of nowhere with little light pollution to make Art Bell and late night cigars even better. I think I'm going to forgo getting cable TV since all I watch is hockey and just get the most bad ass internet connection I can.

[GuerrillaUnReal]

All told about 7 months. Was worth it. The only other advice I can offer is do things the way you want them do not sacrifice for a few dollars. The few extra thousand spent will pay off in quiet satisfaction in a very short time.

Yeah, it's amazing it takes so long. It'll probably six-seven months before I can finally move in. Ridiculous how long it takes.

[GuerrillaUnReal]

Sounds sweet.

There are lots of  "whole house" water filtration and/or softener systems out there but I would first determine what the "issue" is (send your well water out for testing.) Then you need to figure out what system(s) filter out that material, how much capacity/use expected (are you a type to be washing, showering, etc at same time, how many people, etc), and compare models and costs (and future cost) to ensure you get the right system.

The other thing I mention with rural property besides the survey is to double-check no easements, mineral/surface/water rights issues, or any other encumbrances (title search will usually find out.)

Hmm... water filtration is imperative to me. I want to run a soda fountain in my kitchen so water quality is going to be key. How much money would a top of the line water filtration system run? The house supposedly comes with water filtration built in but I'm not fucking around with this. I'll definitely post results of the well test.

I was just about to start reading up on all this but thought I would inquire on BellGab's wealth of knowledge since there's a lot of worldly folks here.

[Caruthers612]

Hey folks,

I'm very excited and rather nervous that I'm about to buy my first property. I've been fortunate in the past to work out leasing deals or find different arrangements for cool properties but this is the first time I'm buying my own place.

I've got a realtor who's a family friend helping me and we're slowly going through the process. But this is rather frightening for me as it's so new and I'm committing to so much money.

Do you guys have any advice for buying a rural property/house? We're having the home, well and septic inspected.

Right now my biggest problem is planning out the living room and how many big screen TVs I'm going to have in there. I want something resembling NASA mission control with every hockey game in the NHL on one side and financial tickers on the other. I'm thinking a big 70" and then three 40" TV above the 70" for other hockey games. Then three 32" below the 70" for other sports games and financial info. 

                    Which HDTV will be showing the Brazilian bestiality porn?  Kidding. I bought a rural home a year ago and am happier than I can say. If you find the right house, living in the country is a relief and a delight, in my opinion. Especially in you've lived in a city for years, or the close environs. Open land and peace and quiet are beautiful things. Congratulations on your new home. Also, if you get bored with the bestiality stuff, the Japanese do amazing things with enemas.

[albrecht]

Hmm... water filtration is imperative to me. I want to run a soda fountain in my kitchen so water quality is going to be key. How much money would a top of the line water filtration system run? The house supposedly comes with water filtration built in but I'm not fucking around with this. I'll definitely post results of the well test.

I was just about to start reading up on all this but thought I would inquire on BellGab's wealth of knowledge since there's a lot of worldly folks here.

I don't live permanently in the country so I just go with well water and a Berkee system (or just buy a few gallons in jugs) for drinking, teeth brushing, etc when out there. You need to figure out what you want gone, if you have sediment etc from well, and usage. But from what I've seen the cost is cheaper than I would've expected. Good luck!

[jazmunda]

Dude totally, one of my requirements for this place is I wanted a place in the middle of nowhere with little light pollution to make Art Bell and late night cigars even better. I think I'm going to forgo getting cable TV since all I watch is hockey and just get the most bad ass internet connection I can.

Tell me about it. On the eve of Art Bell announcing that he quit Dark Matter I was up at my in-laws place on a warm Spring night laying on a blanket on the grass with virtually no light pollution gazing up at a billion stars and relistening the Art and RCH talk like old times. I was in heaven. I thought I would love to do this every night of my life. The very next day I saw Art's facebook message that he had quit. Why cruel universe? Why?

It turns out that it was all for the best because MITD is the bomb and now we have a delicious desert in Hoagland to go along with the succulent meat and potatoes Main Course that is Art.

Who else is hungry?

[WhiteCrow]

FWIW: as a Banker and owner of a real estate development company.

Assuming you're serious about this property.

Always consider resale value, unless that's not a factor for you. Usually one man's dream house is just that.   ie hard to sale.
And one of kind homes, are many times valued less than cost to build. Could be a lot less.

Check how long its been on the market. Hard to sell houses are taken on and off market, so they appear as a fresh listing

Get the water tested by a professional. Have everything else inspected. Buyers condition report.
Go along with inspector(s) to house, you'll learn a lot, ask questions and take notes, take pictures too of everything.
Helps when planning and decorating before closing.

If you need a mortgage, the Bank's interests are the same as yours, the Bank will make sure the title is clean and with recent Banking regulations, most of the inflated appraisal problems have been eliminated.

Hire an attorney that specializes in real estate.

Put an easy 'out' clause in the offer to purchase.

Get a land survey if anything has changed on property since last survey. I always get a fresh appraisal for anything but plotted subdivisions and city lot and block.

Review Title insurance and understand what each exception means. 

Talk to neighbors.

Write in offer, that you can visit property before closing, with a day notice to seller.

Follow your gut and check everything out yourself.

Make realistic offer, based on an appraiser that you hire.
Fair price: buyer pays more than wanted too and seller got less than they wanted.

Good luck and best to you. 

[droog]

Sounds like I may be a little late with this, but THE bible on the subject is the supurb, "Finding & Buying Your Place in the Country" by real estate lawyer, Les Scher.  I had it about memorized by the time I began looking for land.  Everything he says is so spot on, you could be in for problems if you fail to listen.  You should be able to get it out of the library and I really suggest you do so.  Country property has different issues than city property.  It is good you have an experienced person helping you, but I really suggest you thumb through this book before you sign the final papers.

[cweb]

Lots of good advice in here. Along with checking out the land, pay notice to the trees surrounding your house or other buildings. (Especially if you're in an area that experiences snowfall.) Trees are great for obvious reasons, but have a plan for trimming them and minimizing risks. Also remember the rule: as above so below. A tree's root system typically extends as far as its canopy.

Another thing you might want to think about is backup power. Not to sound like a prepper here, but if your line goes out it's nice to have something to keep the beer cold. Or the humidor running!

These aren't really make-or-break things for buying, but they're good to think about as you make your plan for improving the property and keeping its value high.

[FightTheFuture]

Right now my biggest problem is planning out the living room and how many big screen TVs I'm going to have in there.

If that`s your biggest problem, then you don`t have a problem, and would not be needing a great deal of advice.

P.S.  Don`t over do it on the TVs. It`s gaudy, a bit tacky and just ends up being distracting. One good high quality 70 inch smart TV and a couple of 32`s in the corners. That`s it. Make sure your wet bar is fully stocked. Enjoy.

[Mind Flayer Monk]

Hey folks,

I'm very excited and rather nervous that I'm about to buy my first property. I've been fortunate in the past to work out leasing deals or find different arrangements for cool properties but this is the first time I'm buying my own place.

Have you thought about buying an RV instead?

[Caruthers612]

Have you thought about buying an RV instead?

        Yeah, then you could broadcast pirate radio from there like Alex Jones, although I've heard he uses a potting shed.