Is there a shed or some other type of building for storage of all the **additional **tools you are going to buy (including your new ladder)?
Need any trees? Plant them as early as you can. Time is your friend here.
This was going to be my first suggestion. We’ve used this, both as a seller and a buyer. It’s something less you need to worry about at first.
Yep, this too. Our last house, turns out you could hear the truck stop, a mile away, all night when the windows were open. I don’t know if that would have been a deal breaker, but I wish I’d known.
And finally, be sure to leave room in your budget for “other”. Suddenly you will need a lawn mower, maybe a snow blower. Ladders, drills, toilet snakes, etc. I wish houses came complete with necessary tools, but they just don’t. My first house? I’m pretty sure our truck new the way to Home Depot on it’s own.
Where is the tank for the heating oil?
Behind the house.
That’s good. There should be a warranty on the roof, ask about it. If you go ahead, insist on getting the warranty paperwork early in the proceedings, people can turn surprisingly unhelpful once you are locked in to the purchase.
Just a last word on building inspection: you are probably aware of this, but in most states you have little recourse once you’ve bought the place. It’s usually almost entirely caveat emptor, that’s why it’s important to be so thorough.
I’m not sure what pitfalls there are on wells.
Discuss with your attorney just what risks are / are not covered by title insurance when you get to that stage, and make sure that you’re comfortable with everything.
You will do just fine. How do I know. Because you spelled ‘advice’ correctly.
mmm
The lender is going to require an appraisal, which won’t catch anything you can’t see with your own eyes anyway. Definitely get your own inspection.
The day that you close will be the scariest day of your life, because you’ll sign literally 100 pages of documents giving some company in New Jersey the rights to your organs (or something; I don’t remember because it was a blur). On top of that, your bank account will pretty much be totally empty. But the terror goes away eventually.
I’d also say that no matter how good your inspector is, he/she will find roughly half of the problems in your house, so whatever you’ve budgeted for repairs, double it. At some point you’ll open up a wall or move an appliance and find something vitally important held together with rubber bands and duct tape.
But is it above-ground or in-ground?
Is there an unused tank on the property, still hooked up?
The reason I’m asking is my former in-laws bought a nice house in the Poconos that came w/ an exciting surprise they only learned about roughly a year later when their neighbors asked if they were going to remove the old heating oil tank from the lawn. It was the first they’d heard about it and it cost a pretty penny to remove.
When they’re working as they ought to and in good shape the tanks are worry-free (if sometimes expensive to fill); but they can turn into a costly headache quickly when things go sideways.
Oh, that’s good to know. It’s above ground…I think. There is a tank above ground on the property, but now I am not sure it’s THE tank.
Shoot. Ok, I’ll look into that.
I am not sure how heating oil tanks work, but in our area some neighborhoods have buried propane tanks. The tanks were conveniently buried when the homes were built, but get this - the tanks are still owned by the propane company (who’s name we shall not mention). So, when my friend bought one of those homes, she did not want to use said propane company due to their high rates, and propane company said no one else could fill their tank. My friend told them to come dig it up! And, they changed their tune and gave her a ‘special’ low rate after that. Anyway, maybe take a look at the whole heating oil system and process and make sure you can purchase from anyone.
When we bought our first home in the mid-90s, I was also terrified. Terrified of the commitment, but also the cost. We’d be just about doubling our monthly housing cost with the new mortgage compared to rent for our duplex. The house wasn’t much bigger. However, 4 years later it was clear that it was a good deal - the price of the house nearly doubled, and we were able to relocate to where we are now with a very comfortable monthly housing cost. Not to say everyone will be as fortunate, but if you like the area and want to live there, it is more than an investment.
Try to visualize the house and property across all four seasons.
Is that 200 foot driveway all that great after 22 inches of snow? Are the stormwindows easy to operate? Will that majestic pine and oak grove be a liability when the acorns, cones and needles clog up your gutters and cause a major ice dam? Sure, daffodils and tulips are great but are you prepared to select and coordinate colors?! I swear, if that’s a mature, fruit-bearing mulberry tree over the porch…
Lawncare expenses aren’t too high but the time consumed is more that I expected. Fertilizing, edging, string trimming, hedge trimming, pest control & herbicides, annual plants if you like. This time of year, the daylight runs out so quickly that Sunday afternoon disappears before I’m half finished.
Then you haven’t saved enough. As owners you will be responsible for everything. Will you have enough money to pay for a new boiler or other emergency repairs? That’s on top of ordinary repairs. You need a down payment and a reserve.
Yes, that’s a separate savings fund. We have an elaborate savings system set up. I don’t understand it, but it keeps my wife sane. I appreciate you looking out.
Half an acre is small: that’s 1/4th the minimum size of a buildable lot in my town. A regular, non-ride on gas mower should be all you need.
It’s bigger than my 15x8 patch of yard that I have now. 
Seconding many of these suggestions: try to get away from using oil; know how you’re going to mow; buy a ladder; attend the home inspection; drive by and walk past the house during several times of the day; talk to the neighbors; use Google maps to see what’s close by, etc. These are all things we’ve done when buying a house. In one case, there is a railroad track two blocks away; fortunately it’s a tourist train that only runs several times a day during the summer.
One thing I haven’t seen mentioned is “open the vanities and cabinets under the sinks to look for stains that indicate there were leaks”. I learned that from Mike Holme’s new show Buy It Right on the DIY network. He shows some important things to check out, especially is there a tight envelope (windows, door, and siding). He’s also big on making sure the deck and stairs are in good shape. Watch a few of these episodes to get some more ideas.
My daughter just bought a house and it went smoothly, but she wanted me there at closing. Do you have a friend or relative who’s purchased a house lately? The just wish my daughter would buy a lawn mower, instead of having me mow her lawn and my lawn every week.
- Talk to the neighbours before signing a final offer
- Get a home inspection for sure
- A fixer upper in a posh neighbourhood is better than a nice house in a mediocre one
- Enquire about schools, transit, shopping, employment
- Consider second hand furniture if on a budget, especially if like antiques
- Find out utility costs and maintenance expenses up front
- Take precautions such as anti-flood measures, fire safety, alarms early
- Compare 3 home insurance rates, can vary a lot
- Get title insurance
- Realize costs will be higher than you think, get a place requiring minimal renos
- Fill the house slowly with stuff you like, if possible, not all at once
- Make friends with a good handyman if not handy
- If the current owner has stuff you like, make an offer, they might not want to move everything
- Consider buying slightly too big and renting, especially with a growing family
- Make copies of keys and put them and other valuables in a safety deposit box
- If a new town, look for meetup groups and social organizations early
- I read a great story about a family that moved to a small town. Their kid wanted to set up a stand to sell drinks. The parents didn’t realize their kids were selling glasses of their whiskey and other liquor for ten cents a pop since they couldn’t find lemonade. The stand was very popular, everyone thought it was hilarious and they met all their neighbours quickly and on good terms.
Use Google Earth to examine the area carefully. Take a broad look at the streets, highways, and factories around you. Things change, streets are widened, and sometimes new ring highways are added as cities expand. It’s interesting to know what’s around you, which large businesses could affect traffic, and whether something undesirable (junkyard, oil well, etc.) is just over the hill.
Drive over to the neighborhood on a Friday afternoon (around 5 or so) to see if there are effects from rush hour traffic. (You may not be on the main drag, but are lots of people using your street as a shortcut?). If possible, go to the house early on a weekday, and then drive to work from there. You’ll be doing this trip hundreds of times a year, and a significant amount of your time will be spent in this traffic. You should at least know what to expect.
Before you move in, make a list of the things you must fix or change. Then look at the list 10 years later, just for laughs. 
(Trust me, most of those things still won’t be done)