First-time Homebuyer Advice - Page 2

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    Topic
  • February 28, 2014 at 3:38 pm #184068
    Mel
    Participant

    I’m looking to buy my first home in a year or so and I’m looking for advice, so I thought who better to ask than a bunch of accountants? I’m sure a lot of you have experience with this so give me your lessons learned, do’s & dont’s, websites I should check out, etc. Thanks for your help!

Viewing 9 replies - 16 through 24 (of 24 total)
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  • March 1, 2014 at 3:25 am #522992
    soncarlos
    Participant

    Hey Mel4CPA,

    I just bought my first home last October. One advice I can share is to check with your County's housing authority or office. Many counties offer a Mortgage Credit Certificate, it's a really cool benefit. You can get up to $2,000 tax credit for the remaining of the loan as long as you live in the home you purchase. That's $2,000 every year. (it's based on the amount of interest you pay in the year). I got lucky and qualified for it. Many counties extended this certificate for 2014, that's why you should check with them. If they don't have it, they may have other programs available to you.

    Oh, one more thing, the bank will add the $2,000 to your income, which will qualify you for even a higher loan amount.

    Good luck with your house hunting and the exams.Looks like you're almost there! I still have 3 to go….

    March 3, 2014 at 11:49 pm #522949
    Mel
    Participant

    Thanks for all your suggestions, I'll take all your comments into consideration!

    March 3, 2014 at 11:49 pm #522994
    Mel
    Participant

    Thanks for all your suggestions, I'll take all your comments into consideration!

    March 4, 2014 at 12:17 am #522952
    mla1169
    Participant

    Just remember two things everything in the process will take twice as long and cost twice as much as you are told up front. We were supposed to close on 6/2/09 and ended up closing on 7/31/09.

    FAR- 77
    AUD -49, 71, 84
    REG -56,75!
    BEC -75

    Massachusetts CPA (non reporting) since 3/12.

    March 4, 2014 at 12:17 am #522996
    mla1169
    Participant

    Just remember two things everything in the process will take twice as long and cost twice as much as you are told up front. We were supposed to close on 6/2/09 and ended up closing on 7/31/09.

    FAR- 77
    AUD -49, 71, 84
    REG -56,75!
    BEC -75

    Massachusetts CPA (non reporting) since 3/12.

    March 4, 2014 at 12:18 am #522955
    Anonymous
    Inactive

    Realtor.com and Zillow.com are good to start getting an idea of the market and market trends. I spent many hours on both those sites long before starting the home-purchase-process.

    March 4, 2014 at 12:18 am #522998
    Anonymous
    Inactive

    Realtor.com and Zillow.com are good to start getting an idea of the market and market trends. I spent many hours on both those sites long before starting the home-purchase-process.

    March 4, 2014 at 1:02 am #522958
    Anonymous
    Inactive

    From other message board I frequent from last week.

    https://cyclonefanatic.com/forum/off-topic/185243-questions-ask-realtor.html

    March 4, 2014 at 1:02 am #523000
    Anonymous
    Inactive

    From other message board I frequent from last week.

    https://cyclonefanatic.com/forum/off-topic/185243-questions-ask-realtor.html

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