Buying a house, need some advices.

[ShadowBun]

Hey guys,

So I will be buying my first ever house sometime in the 1st quarter of 2014, in the US (Indiana).
Most of the houses there are built in the 1900-1950s, rather old.

As I have absolute no experiences with this, especially for housings in the US, I would highly appreciate any advices.
For instance, what are some tips and useful observations to have?


Thanks in advance!

[Zedbra]

There is a lot of stuff to know when buying a house - but buying in the States is a whole other story. I know some states will take 95% of the property's worth if a foreign owner passes. So, have someone else in your family on title.

But, every first time owner will be able to say - you will get tired of spending money on buying all the 'little' things you took for granted wherever you grew up living.

[ShadowBun]

Whoa the 95% is news to me. That stinks.

Thanks for the advice.
What about: what to look for in regards on the house? I mean I know what kinds of structure I want (i.e. at least 2 beds and so on).
Obviously I will pay for a professional to inspect it and so on, but is there anything else to look for?
I just want to be prepared as I have to start in August and will be making a trip down sometime in late May or early June to find a house and buy it.

[Zedbra]

Well, the date range you gave means they are all really old homes. Indiana gets cold in the winter and humid in the summer - so you obviously want to check to make certain it has good heating/insulation/roofing/windows etc. These should all be modern and maintained. If you have a realtor suggest the property is a "fixer upper" - then be prepared to spend $$$.

Check to see if the area you are buying in is safe and desired area - this would make it easier to resell should the need arise (nothing worse than sitting on property for years that you can't sell).

Ask about any government Easements that give right-of-ways to your property. Too many easements may not fit into your lifestyle (such as close to airports you cannot have certain height buildings/garages).

Ask about all taxes and the proximity of schools, hospitals, policing (better resale values).

It's good to know what kind of ground your house is built on - such as hard pack, clay, fill, piles - this alludes to the potential to further shift and cause damage.

Find out if many houses nearby have sold, and how long it took to sell. Many people moving out could tip you of some issues. However, if the neighbours have all been there for many years that suggests the community is grounded - but it may also make it harder being the "new guy" if you don't fit into their demographics.

Don't let a realtor rush you into making a purchase. When you walk into the right house, you will know - it will be "the one". If you don't get that feeling, then keep looking. My first house I looked at 40 properties. My second house, the 7th house I went to I knew it was "the one", and I'm still living here 12 years later.

And that's about all I have for tonight. If I think of something else. I'll let you know.