# So... tell me about buying a house. **URL:** \ **Category:** In My Humble Opinion\ **Created:** [January 9, 2014, 8:39pm UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389 "2014-01-09T20:39:08Z")\ **Posts on this page:** 17\ **Page:** 3
**Author:** ![Cat\_Whisperer](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cat_whisperer/32/4839_2.png) [@Cat\_Whisperer](https://boards.straightdope.com/u/Cat_Whisperer)\ **Post date:** [January 10, 2014, 5:52pm UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/41 "2014-01-10T17:52:43Z")
> [@Voyager](#): > > I don’t trust Walk Score. I looked up the one for my house when we had a thread about it, and my score was mediocre. However I can and have walked to 2 malls, 3 grocery stores, infinite restaurants, lots of banks, and lots of other stuff. I have no idea of how they do the computation. But we chose our house versus another one because it was close to stuff, and we’ve always been glad we did. Good point. I think the Walk Score for my house is low, too - I walk everywhere from here. I’m a dedicated walker, though - people who don’t walk would find the 4 kms. from my house to the nearest mall too much to walk. I consider that walking distance. I think it’s a good start, though - if the Walk Score is 0, you know what you’re getting. 🙂 ---
**Author:** ![chappachula](https://avatars.discourse-cdn.com/v4/letter/c/d2c977/32.png) [@chappachula](https://boards.straightdope.com/u/chappachula)\ **Post date:** [January 10, 2014, 7:06pm UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/42 "2014-01-10T19:06:32Z")
a minor issue: look at the property boundaries. When you visit a house, don’t assume that the fences and flower beds which you see actually sit on the legal property lines. In 99% of homes, there are no problems. You can look at the neighboring lots and , if they are all similar, assume that your lot is probably good, too. But if the house you fall in love with is a bit isolated, (i.e. there are some empty spots along the street), then be careful. If it happens to have a larger-than-average back yard, or a big wooded area behind the house, don’t assume that all that space will be yours. There may be an empty lot that borders on yours, which the current resident uses as his private land, because nobody has caught him yet. But it legally belongs to somebody else, who might decide to build his own home there tomorrow morning, and fence you into a smaller area. If in doubt, check the municipal land survey records, or pay for a professional land surveyor to mark the borders of the property. ---
**Author:** ![Kimballkid](https://avatars.discourse-cdn.com/v4/letter/k/b5a626/32.png) [@Kimballkid](https://boards.straightdope.com/u/Kimballkid)\ **Post date:** [January 10, 2014, 7:13pm UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/43 "2014-01-10T19:13:53Z")
Isn’t a survey required when taking out a mortgage? Otherwise, what he said. In my case, everyone assumed the bushes in the backyard were the property line, but the actual property line was like another 10 feet or so beyond that. So I cut down all those old dead bushes and now can use all of my property. ---
**Author:** ![Nawth\_Chucka](https://avatars.discourse-cdn.com/v4/letter/n/c57346/32.png) [@Nawth\_Chucka](https://boards.straightdope.com/u/Nawth_Chucka)\ **Post date:** [January 10, 2014, 7:21pm UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/44 "2014-01-10T19:21:03Z")
> [@Kimballkid](#): > > Isn’t a survey required when taking out a mortgage? > > Otherwise, what he said. In my case, everyone assumed the bushes in the backyard were the property line, but the actual property line was like another 10 feet or so beyond that. So I cut down all those old dead bushes and now can use all of my property. No, a survey’s not part of the mortgage process. The plot from the county’s considered accurate until proven otherwise. That proof will all be on your dime. ---
**Author:** ![Roderick\_Femm](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/roderick_femm/32/14875_2.png) [@Roderick\_Femm](https://boards.straightdope.com/u/Roderick_Femm)\ **Post date:** [January 10, 2014, 7:30pm UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/45 "2014-01-10T19:30:48Z")
In many (most?) cities you can see the plat map online to see the actual shape and size of the lot. Just Google it for your city or county. Roddy ---
**Author:** ![Kimballkid](https://avatars.discourse-cdn.com/v4/letter/k/b5a626/32.png) [@Kimballkid](https://boards.straightdope.com/u/Kimballkid)\ **Post date:** [January 10, 2014, 7:38pm UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/46 "2014-01-10T19:38:48Z")
Maybe it depends on who the mortgage lender is because I got a site survey as part of my mortgage paperwork and I didn’t do anything to initiate that. ---
**Author:** ![wolfman](https://avatars.discourse-cdn.com/v4/letter/w/a8b319/32.png) [@wolfman](https://boards.straightdope.com/u/wolfman)\ **Post date:** [January 10, 2014, 7:54pm UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/47 "2014-01-10T19:54:12Z")
> [@Machine\_Elf](#): > > You can in fact do this with Excel’s PMT() function. This lets you calculate a monthly payment on the basis of loan amount, interest rate, and payback period. However, this is only two components (principal and interest) of your monthly payment. > > [sup]\*[/sup] The third component of your monthly payment is property tax. The can be a 4th and 5th part of monthly payment as well. My lender requires the homeowners insurance payment in escrow with them as well. It’s a CYA for them. If the house they own most of, burns down, they don’t want to be screwed because I got lazy and forgot to pay it for 6 months, so they directly pay the bill to the insurance company. The fifth part can be PMI. If you can’t get a full 20% of value as a down payment, they require mortgage insurance, paid by you monthly, on your mortgage. It should away after you get to 20%-22% equity. ---
**Author:** ![Machine\_Elf](https://avatars.discourse-cdn.com/v4/letter/m/82dd89/32.png) [@Machine\_Elf](https://boards.straightdope.com/u/Machine_Elf)\ **Post date:** [January 10, 2014, 8:00pm UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/48 "2014-01-10T20:00:50Z")
> [@wolfman](#): > > The can be a 4th and 5th part of monthly payment as well. > > My lender requires the homeowners insurance payment in escrow with them as well. It’s a CYA for them. If the house they own most of, burns down, they don’t want to be screwed because I got lazy and forgot to pay it for 6 months, so they directly pay the bill to the insurance company. > > The fifth part can be PMI. If you can’t get a full 20% of value as a down payment, they require mortgage insurance, paid by you monthly, on your mortgage. It should away after you get to 20%-22% equity. Thanks, forgot about those. It’s been a decade since I had to pay PMI, so it slipped my mind. Also, currently I pay my homeowner’s insurance directly (although no matter how the insurance gets paid, it’s something a buyer should budget for). ---
**Author:** ![Voyager](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/voyager/32/133_2.png) [@Voyager](https://boards.straightdope.com/u/Voyager)\ **Post date:** [January 10, 2014, 8:48pm UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/49 "2014-01-10T20:48:10Z")
To summarize all the good advice about knowing your location, when you look at a house the first time you are being driven by your realtor, and she might drive you on a route that avoids the nasty bits. Or even good bits you might be interested in. When we bought this house we were on a one week house hunting trip, the first few days of which were spent looking in places which didn’t work. There was no time to check out things at night, and we didn’t even check out the commute at a reasonable time. I know the places where we ate lunch and opened bank accounts, but then I had no sense of how close they were to our house. It worked out okay, but someone, like the OP, who is buying locally has a big advantage. ---
**Author:** ![Ruken](https://avatars.discourse-cdn.com/v4/letter/r/f475e1/32.png) [@Ruken](https://boards.straightdope.com/u/Ruken)\ **Post date:** [January 11, 2014, 1:47am UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/50 "2014-01-11T01:47:19Z")
> [@Machine\_Elf](#): > > If you want to be really thorough, you’ll also be tempted to factor in the income tax deduction you’ll get for the interest and property tax you pay every year. My advice? Don’t factor that into your purchase decision. I think there’s a tendency for folks to push themselves into the biggest payment they can possibly afford, instead of one that their finances can _comfortably_ handle. If you’re trying to factor income tax deductions in to your purchase decision, that’s a sign that maybe you’re overreaching, and not leaving any cushion in the rest of your budget. Instead, let that income tax deduction just serve as a pleasant stress reliever every spring instead of a critically important line item in your budget. I think people tend to exaggerate the impact of the deduction too. They forget to compare their itemized deduction to the standard deduction. ---
**Author:** ![Musicat](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/musicat/32/20189_2.png) [@Musicat](https://boards.straightdope.com/u/Musicat)\ **Post date:** [January 11, 2014, 2:02am UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/51 "2014-01-11T02:02:07Z")
> [@Kimballkid](#): > > Isn’t a survey required when taking out a mortgage? Realtor[sup]TM[/sup] here. In rural areas, usually (and it would be to your advantage to have one). In urban areas, not so much. Ask your financial institution. In either case, you may request that the Seller pay for a survey in your purchase offer. Whether they do or not is all part of negotiation. A properly written offer should include wording that makes the lender happy and provides funds to do so if necessary. ---
**Author:** ![highrollinwooded](https://avatars.discourse-cdn.com/v4/letter/h/71c47a/32.png) [@highrollinwooded](https://boards.straightdope.com/u/highrollinwooded)\ **Post date:** [January 11, 2014, 3:09am UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/52 "2014-01-11T03:09:50Z")
> [@Kimballkid](#): > > Really?! So if I were to call up the local utility companies, they would have to tell me what the previous owner spent on natural gas and electricity for my house? I’m pretty dubious that that’s the case for Michigan, much less the entire country. I’d like to see a cite. Yes…as hard as it is for you to believe, the utility/ heat companies WILL tell you what the previous bills were…based on the address. I would have to assume that this is applicable in all states…as no privacy issues are being violated…they no longer own the home, and you are not getting their names,etc…:smack: ---
**Author:** ![highrollinwooded](https://avatars.discourse-cdn.com/v4/letter/h/71c47a/32.png) [@highrollinwooded](https://boards.straightdope.com/u/highrollinwooded)\ **Post date:** [January 11, 2014, 3:17am UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/53 "2014-01-11T03:17:06Z")
> **[How to Estimate the Cost of Your Utilities Before Moving In](https://www.weekand.com/home-garden/article/look-up-utilities-property-before-moving-18028388.php)** > > Avoid costly surprises. ---
**Author:** ![DummyGladHands](https://avatars.discourse-cdn.com/v4/letter/d/49beb7/32.png) [@DummyGladHands](https://boards.straightdope.com/u/DummyGladHands)\ **Post date:** [January 11, 2014, 3:49am UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/54 "2014-01-11T03:49:23Z")
Yes to driving thru, perhaps even parking a bit in the neighborhood at night, esp. weekends. Check the property for municipal easements. We had a “dog leg” kind of thing at that back of the house. We couldn’t improve it or build there, as it was a City easement for the utility, but all the same, we were responsible for clearing the weeds etc. And get a HOME DEPOT (or the equivalent) credit line. 🙂 ---
**Author:** ![Nawth\_Chucka](https://avatars.discourse-cdn.com/v4/letter/n/c57346/32.png) [@Nawth\_Chucka](https://boards.straightdope.com/u/Nawth_Chucka)\ **Post date:** [January 11, 2014, 5:25am UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/55 "2014-01-11T05:25:05Z")
Something we now wished we’d looked at while shopping for a house was what utility and tax rebates were available and whether the houses we looked at qualified for them if updates were done. Our house was built in 1972 and the windows, furnace, exterior insulation and evaporative cooler were all 35+ years old or original and are worth replacing. Unless we stayed here another 30 years we wouldn’t get paid back for those things w/o the rebates the utility companies and IRS offered. But we’d only get those rebates if we did ALL of the updates in a one year span and we only planned to be here 2-3 years at most. Had we studied on all that before we may not have bought this exact house. ---
**Author:** ![Cat\_Whisperer](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cat_whisperer/32/4839_2.png) [@Cat\_Whisperer](https://boards.straightdope.com/u/Cat_Whisperer)\ **Post date:** [January 11, 2014, 5:52pm UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/56 "2014-01-11T17:52:54Z")
> [@Voyager](#): > > To summarize all the good advice about knowing your location, when you look at a house the first time you are being driven by your realtor, and she might drive you on a route that avoids the nasty bits. Or even good bits you might be interested in.\ When we look at houses, we usually meet our realtor there, and you’re right - we know the routes around there, and we usually go a bit earlier and look around the neighbourhood a bit. I’d say that’s preferable to being driven by your realtor, if you can do that. > [@DummyGladHands](#): > > \ > And get a HOME DEPOT (or the equivalent) credit line. 🙂 Yup. It won’t be long until you know all of your local big box hardware stores quite well. 🙂 ---
**Author:** ![justrob](https://avatars.discourse-cdn.com/v4/letter/j/a9adbd/32.png) [@justrob](https://boards.straightdope.com/u/justrob)\ **Post date:** [January 11, 2014, 6:18pm UTC](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389/57 "2014-01-11T18:18:02Z")
> [@Kimballkid](#): > > Really! Seems odd to me. What utility (gas/water/electric)? My gas comes from a different company than the water and electric. Would I be able to call all the different companies and get that information? The gas/electric is through the same company, WE Energies. The water bill is through the city. I’ve never tried getting billing info for water but since it’s a public utility I can’t imagine it’s not public knowledge. I know I have called in and got a monthly budget amount for my rental unit. I just tried calling in to WE Energies to see if I could get it for another address but I didn’t feel like waiting on the phone for the 25-30 minute wait. [Previous page](https://boards.straightdope.com/t/so-tell-me-about-buying-a-house/678389.md?page=2)