Any tips for a first time home buyer? (Louiville area)

[DJD]

So that's what Ive been doing wrong! haha

This place is in Crestwood, I could walk to Open Range!

Ahh now we see why this is so appealing!
Seriously, get the deal that works for you guys. Your being smart by buying within your means and not your projected means.
I would want plenty of garage space and electric on everything...no gas.

A good home inspection is a must but if you have family in the bidness get them out there first as they will be better than anyone else finding faults. Then take that list and ask the inspector you hire what he thinks and if he agrees he can write it down as well. Might help get some more money off the selling price. JMO

[Tyme2fish]

My only advice is don't "Fall in love with a house." The house will NOT love you back.

My wife once mentioned in front of the car dealer that she "loves that car". I thought the dealer would crap his pants when I told the wife, "Well that car sure doesn't love you in return."

[JD7.62]

DJD, I dont know why we are buying within out means, apparently irresponsibility is awarded these days....

The only problem with Open Range is that they dont allow steel cased ammo and my AKMs shoot only steel cased 7.62 and 5.45 so I cant shoot there.

I suppose its a good excuse to buy a decent pistol to shoot there. Of course the one I really want (CZ-52) you can pretty much only get steel cased ammo for it. I just love that 7.62x25mm round!

T2f, I know what you mean. I fell in love with a boat once, and good Lord does that boat not ever love me back! The first trip out this year I had to use the trolling motor from Harrods Creek to Coxs Park!!!

[flippinstick]

The $8000 tax credit is good but if you move remember it has to be payed back. You can get $5000 grant money from the state also but $1000 is knocked off for each year you stay. So say you get the $5000 and stay 4 years and sell...only $1000 will have to be paid back. If you stay 5 years you have to pay nothing back. Just something to think about.

[JD7.62]

The $8000 tax credit is good but if you move remember it has to be payed back. You can get $5000 grant money from the state also but $1000 is knocked off for each year you stay. So say you get the $5000 and stay 4 years and sell...only $1000 will have to be paid back. If you stay 5 years you have to pay nothing back. Just something to think about.

The $8,000 for this year does NOT have to be paid back. The $7,500 from last year did.

At least what I can gather from www.federalhousingtaxcredit.com

[bigrod]

Firsttime homebuyers do NOT have to pay back the money any longer. FL is rated number 2 in the country behind CA. Prices around here stay fairly steady because we don't have the major ups and down like other city's. Louisville is actually up 2% overall, so that is why houses are priced the way they are. If you have a good house and are priced correctly you will sell your home. FL on the other hand you can get a great deal on homes down there now BUT what are you gaining when you move in and your neighbor down the street sell the same house for another 100,000 less then you paid. FL housing market will take at least 20 years to get turned around so if you buy there expect to stay there a long time and don't expect to make a lot of money on what you buy.

[JD7.62]

I agree bigrod, but we are not looking in those ultra posh type areas where houses a few years ago were grossly over priced. Were looking in nice little neighbor hoods with small little starter homes. No $100K price swing here, and yes, we dont think we leave.

For the record our budget is in the $125 range so nothing fancy granted down there they are MUCH nicer then here. Heck we are going to look at a few in a couple of weeks down there that are around $100K and really nice!