r/FirstTimeHomeBuyers

my fiance and I are first time home owners so we’re not sure the rules around fencing. we live in a new build and the subdivision is still under construction so we weren’t planning on installing a fence anytime soon (we also weren’t even sure if we were allowed to yet). our neighbours that live behind us approached us last week regarding installing a fence and wanting to split the costs and they also approached their neighbours on either side and our neighbours on either side. we’re currently in the midst of planning a wedding so we didn’t budget for this but we were willing to entertain the idea. after getting some quotes and hearing what everyone wanted to install (which was not what we would want) we ended up telling them that we didn’t want to proceed and we would install a fence on our property at a later date when we were able to. this has now lead to some drama and tears. we’re being told that it’s out of others budget if we don’t contribute and we’re being asked to put it on our property still which I don’t agree with. we’ve been told that they have someone lined up to start building next week. I feel like we‘re being pressured into something that we didn’t plan for but since Ive never owned a house before I don’t know if I’m being unreasonable. I’d love some insight as we’re not sure how to proceed and are on a time crunch.

I’m under contract to buy a home that failed The county required septic inspection. We know at a minimum the tank has to be replaced however there seems to be a possible issue with the drainfield which is substantially more expensive 10,000 for a tank replacement versus 35,000 for a system replacement.

This is a unique property because it is multiple acres inside of the city limits, but the house needs a lot cosmetically and some things mechanically. I have lived in the home as a renter for the past 12 months and have had no issues with the plumbing whatsoever. A septic company had us fill the tank and noticed that the water was not going out to the drainfield the way that it should and explained a drainfield replacement is very likely and at minimum the system is on borrowed time.

My stance is that this is something they will have to replace regardless if I buy the home or not because the county will fine the sellers $500 a day until the problems are corrected. They have 30 days from the date of the county inspection to get this fixed.

Numbers on this deal our sales price of the home $580k only one agent involved. For them to walk away with the same money at closing, they would need to sell the house for $625,000 but I think that’s a big risk for them because they will have to put at least $15,000 worth of Improvements into the property before they take it to market and it’s very likely that other buyers will not overlook some of the cosmetic defects or take the home as is or be unrepresented.

What are your thoughts?

My partner and I are trying to sanity check whether we’re stretching too much on a house in Colorado. Our combined gross income is about $16.3k/month, and our take home is around $10.9k/month. We currently have $154k in savings. For the home purchase, we’d be putting $60k down, getting a $15k gift from parents, and closing costs are covered. That would leave us with about $94.6k in savings after buying, which is close to our goal of keeping $100k as an emergency fund / future car fund. We both have some old paid off cars that might not make it much longer. That 100k emergency fund would cover the cars, 10k for house repairs, and around 6 months if we lose our jobs based on 6k monthly expenses detailed below.

The total monthly housing cost (mortgage, PMI, property tax, homeowners insurance, HOA) would be $4,295. Outside of that, our monthly expenses are roughly: $700 for food, $200 auto insurance, $300 utilities (estimate will get better idea soon), $100 gym, $400 misc, and about $250/month for a remaining $20k student loan. We’d also like to budget around $1,200/month for travel, dining, and general lifestyle spending. Assuming that would be enough for a vaction or two a year

All in, that puts us at about $7,400/month in total spending, leaving roughly $3,400/month leftover. We don’t have kids yet but would like one in the future, and from what we’ve seen, that could add 1,500–2,500/month. That would bring our leftover down to somewhere between $1k–$2k/month depending on the scenario. Seems pretty tight.

But this is truly a home we love and is big enough for a family.

I am looking to buy a condo for 355k. I plan to put 120k down at a ~6.1% interest rate. Even with the down payment I have enough for closing and to still have some savings. With taxes and HOA the estimated payment is 2560 a month. HOA includes garbage, grounds, etc. So I would have to pay for gas, water, and electric. I live it CT for reference. I take home 5270 a month after taxes and putting away for retirement. I do not have any debts like car payments or student loans. Can I afford this? I currently live at home with my parents little expenses so this is giving me a lot of anxiety. However this place is perfect and something I would be interested in keeping and living in for a long time. Thank you for the help.

We closed on our home about 3 weeks ago, spent the majority of the first two weeks cleaning and a few repairs/updates.. one of the things needing fixed was the water leaks under the house from the tub. We were told by the realtor it was fixed. So yesterday marks the start of 3 weeks, I’m making dinner and have the washer going. I hear bubbling sounds, immediately go check the bathrooms I know that sound! Sure enough both bathrooms shower/tub filled up then the tub drained. My fiance went under the house and the pipe that was supposed to be fixed it leaking still 😑 I asked the realtor about it got told it’s pretty much our problem now considering we closed and my fiance went under the house to check while I ran just the tub not full blast and it was ok he said. He’s a handy man but not a licensed plumber. I had extra inspections based off the main inspectors finds. The tub being off in the one bathroom was listed and I wanted to check that out and see why, by the time we were able to set that up the sellers realtor told mine it got fixed. I have a feeling they just used super glue or something cause the pipes aren’t super clean as if they were just replaced.. point I’m getting at is are we at a loss and this is now on us? Considering we did have it written down to fix that and we were told he fixed it?

Found a house that checks a lot of boxes, but looking at records and such, it's showing as being sold 8 times since 2000. The most recent sale being 2 years ago, and listed at the same price it is today.

I've noticed the same thing with the seller giving money towards closing costs as well. The house hasn't changed in the last 2 years. Taxes jumped up to $2,000 though, after being under $900 for years and years. There isn't a lot of acreage on record either, so a survey would be needed.

My gut tells me to pass, and we are, but out of all the houses we've looked at so far, this is by far our favorite with no visible major problems. It does need some updates over time and already overpriced.

How do you get over your first house heartbreak? 😭 It's beautiful, but I keep going back and forth because of obvious red flags. That's the only house in the neighborhood that's sold so many times.

Hello,

I was reaching out for tips or advice with juggling working full time, being a student full time in an accelerated program, and in the process of purchasing a home! Anything is appreciated

After 4 failed offers, I’m finally under contract for a house. Overall it’s great but the seller has several cats, and I have family members with serious cat allergies. What would you recommend doing to get rid of all the dander? I’m already planning on having the carpets cleaned, but would love additional things I should be doing. My apartment lease goes beyond closing so I don’t have to move in right away.

First time homebuyer here. My husband and I have worked so incredibly hard to get to the point where we can finally buy a house, but want to make sure we don’t overdo it. We got our preapproval letter last week and are starting to look at homes.

We are looking at a hypothetical mortgage of anywhere from $2600-2800 per month. Without this, our bills on top of this are about $3700. Unfortunately, I pay about $1500 a month in student loans, which makes up most of our bills. We also have a child in private school and another child on the way that we will need to pay daycare for. Combined after taxes, my husband and I bring home $9700 per month, so this leaves us with about $3200 a month for food, gas, clothing, and other expenses. I automatically save for retirement out of my paycheck and my work doubles my contribution, which I’ve been told is pretty unheard of.

Just want to make sure I’m not getting ahead of myself here and taking on a mortgage I can’t handle. I will say, I will only have to pay on my student loans for 4 more years and then I will be eligible for PSLF (Public Service Loan Forgiveness) since I’m a nurse.

Any and all advice is appreciated. Thank you! 😊

I’m overwhelmed at the information out there on crawlspace encapsulation. I’m researching for my daughter’s house, which is 85 years old. The details: no musty smells or rodent problems. No visible floor warping or extraordinarily high energy bills. Evaluation shows high moisture levels but we don’t see pools of standing water. It is a very small house, single story, approximately 1000 sf. First quote for full encapsulation and moisture remediation coming in at $30k. More scheduled. I don’t know if I can advise her to do this, given the age of the house. Interested in opinion.

My wife and I's offer on a 2-bed / 1 & 1.25-bath condo was recently accepted. The seller disclosed that there is an unpermitted macerating toilet (in the quarter bath) and offered to remove it if we would like.

We're having a hard time deciding whether we should keep it or not. Having a second toilet could be helpful in an emergency, but we're concerned that if it causes any problems, our homeowner's insurance may not cover the damages.

Would you all recommend we keep or remove the macerating toilet?

My wife and I have been waiting all of our lives to finally purchase our first home. So we finally pulled the trigger this year…

1. My #1 requirement was No HOA. I’ve been watching horror stories on YT of how a bad HOA President and their friends can ruin a homeowners life and make them foreclose over time (due to fines, fees and interest), just to buy their property for pennies on the dollar.

2. We wanted something a bit closer to our jobs and we were able to accomplish that.

3. We wanted a pretty house that has the “Wow” factor and amazing curb appeal. Those usually land in our “dream house” category and I found out that we tend to have multiple bidders competing against us since I guess they too find the property pretty amazing looking.

4. We found a couple houses we loved, and it took after a couple bidding wars, we got lucky and landed our first forever home dream house.

500K house

200K combined salary

No HOA

No major issues

800+ FICO score

Has a pool

Has an unfinished basement

4 br, 2.5 baths

Here’s my question, curious if anyone else has any input or experience with this….

If the basement was finished with a MIL suite, my mother may have rented it for probably $1500.

If it was partially finished, maybe $1350.

My wife wants a total separation from my mother’s living space.

But as you know, the basement is completely unfinished and we have 3 guest bedrooms. We’re playing with the idea of putting my mother in the guest bedroom furthest from the master bedroom. She would like the rent at $1000, I would shoot for $1200 which is what my wife (DW) would want, but truthfully, DW would rather she not live with us at all if at all possible (her words, not mine).

I’m seeing free rent ($1000-$1200 each month) and a cheap dog sitter. My wife sees it as her losing her privacy. Although she said if in a few months or years, if money is too tight, she might allow it. But she needs some time to herself at first in her first house. What do you think? Have you been in a situation like this?

okay so my fiance and i are looking into buying a 120k property. i’m a stay at home mom, he makes the money, i have a good credit score (715) but he doesn’t. how would that work if we’re not legally married? can i get a loan with no income? i know they take the lower credit score in a loan so both of us being on it isn’t an option. should we get legally married? (we’re waiting for other bureaucracy reasons) i’m so stuck.

My friend bought their first home in Quebec earlier this year..Bidding war..Six offers “on the table” They won!

They called me to celebrate…

Here’s what they told me after the fact!

Their agent kept telling them “this is your house, I can feel it.” First home they’d genuinely fallen in love with. Six competing offers “on the table”. Every hour that passed felt like someone else was about to take it‼️

So they went over asking!!!. No inspection condition..No financing condition..Just win the bid. They won.

Three months later, comparable homes on the same street sold for $25,000 less!!!!

If you’re buying your first home and entering a bidding war, having an agent does not protect you !!!! go in with a ceiling you calculated before the emotions started..Not a number you came up with in the room…

That’s the only thing that protects you, I guess!!

https://realtor.ca/real-estate/29618324/9-legacy-lane-se-calgary-legacy?utm\_source=consumerapp&utm\_medium=referral&utm\_campaign=socialsharelisting

Please provide your inputs..

I recently got a job with an $85,000 salary, with the possibility of earning an additional $10,000, although that income is not guaranteed. I’m wondering whether buying a house with a 5% down payment would be a better financial decision than renting. it is a 340k house. For comparison, the rent for a good three-bedroom house in Kansas City and nearby neighborhoods is around $2,200 per month.

it is a new house (2026) and I liked it too much

Married and we have 3 kids (9,6 and 1years old) - wife is not employed

credit score +700

no other dept

I have another 25k for emergency

My husband and I just bought a new build $350k house. We make about $140k combined. We are putting $45k for down payment. We are both almost 40 years old, no kids, but possibly planning for one child at the most. We have about $50k in savings left after the downpayment and closing costs. My husband is paying off credit card bills and student loans. Are we completely screwed?

Hi, I make 104k a year. Would be 20% down and after 20% down I would have 60k left in savings. Additionally paid off car that’s five years old no student loan debit. Currently contribute 14% to 401k and max out HSA. Am I biting off to much. It’s 1,300 square feet 3 and half baths 3 bedrooms in a mcol city. Thoughts?

Hi brains trust…first time home owner in my low 50’s

We have split our home loan into 80/20 fixed/variable with an offset

Is it more beneficial to pay off the bigger one first? Or focus on the smaller one?

It might seem a stupid question but I’ve never been in this position before 😭

For context Fixed is 200k and variable 80k

Advice very welcome 🙏