Best book to read before buying a house?

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jastevenson
Posts: 90
Joined: Tue Nov 27, 2012 12:32 am

Best book to read before buying a house?

Post by jastevenson » Sun Jun 24, 2018 2:15 pm

So I've finally reached the stage in life that has me thinking about buying a home. Thanks to BH, I know quite a bit about personal finance, but very little about buying a home!

Any recommendations on a book to read that will help avoid any pitfalls? It's a personal home, not an investment property.

There was a similar thread on this subject but it is nearly 10 years old, so it's time for some fresh suggestions.

Thanks!

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JPH
Posts: 784
Joined: Mon Jun 27, 2011 8:56 pm

Re: Best book to read before buying a house?

Post by JPH » Sun Jun 24, 2018 2:30 pm

I don't know of a book. But you could watch The Money Pit.
While the moments do summersaults into eternity | Cling to their coattails and beg them to stay - Townes Van Zandt

PhilosophyAndrew
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Joined: Sat Aug 13, 2016 10:06 am

Re: Best book to read before buying a house?

Post by PhilosophyAndrew » Sun Jun 24, 2018 3:46 pm

jastevenson wrote:
Sun Jun 24, 2018 2:15 pm
So I've finally reached the stage in life that has me thinking about buying a home. Thanks to BH, I know quite a bit about personal finance, but very little about buying a home!

Any recommendations on a book to read that will help avoid any pitfalls? It's a personal home, not an investment property.

There was a similar thread on this subject but it is nearly 10 years old, so it's time for some fresh suggestions.

Thanks!
If you haven’t already done so, I recommend reviewing some of KlangFool’s posts on financial pitfalls. There are many threads wheee he and other Bogleheads discuss these in depth, for example:

viewtopic.php?f=2&t=242502

viewtopic.php?t=231020

viewtopic.php?t=192055

KF lays out some rigorous criteria for avoiding purchasing too much house; reflecting on his approach may help you to identify and avoid possible financial pitfalls.


Andy.

livesoft
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Joined: Thu Mar 01, 2007 8:00 pm

Re: Best book to read before buying a house?

Post by livesoft » Sun Jun 24, 2018 4:04 pm

This will help you when searching for a home to buy:
viewtopic.php?p=3868292#p3868292
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BradJ
Posts: 210
Joined: Sun Jan 21, 2018 6:06 pm

Re: Best book to read before buying a house?

Post by BradJ » Sun Jun 24, 2018 4:11 pm

Forget a book, study the location, follow Dave Ransey’s rules and understand how you want to spend your free time.
1) Location: Buy where schools are good and know the average per sq foot price of a home is, not the home price itself. Remember, there are always real estate deals out there, just be watchful and patient.
2) Ramsey’s rules: 15 year loan, mortgage 25% of take home pay and 20% down. I would say the last two rules are most important.
3) Buy a home that fits your lifestyle. Hate traffic and love convenience? Buy a home close to work, little yard and maintenance. Consider yourself a home body? Buy a fixer upper with a yard you can fix up. Whatever you do, don’t romanticize the wrong option.

Other tips: drive by the home at night, cars parked on the side of the street can be a red flag. KNOW HOW RAIN EFFECTS THE HOME, go by after a heavy rain. Test traffic when you can, look at the ceiling for water spots, and test the water pressure.

random_walker_77
Posts: 600
Joined: Tue May 21, 2013 8:49 pm

Re: Best book to read before buying a house?

Post by random_walker_77 » Sun Jun 24, 2018 4:21 pm

It was a long time ago, but I found the Nolo books to be really helpful:

This is the one I read:
https://store.nolo.com/products/how-to- ... -bhca.html

And this is the non-california book:
https://store.nolo.com/products/nolos-e ... -htbh.html

Cop51
Posts: 113
Joined: Sun Jul 09, 2017 12:42 am
Location: NJ

Re: Best book to read before buying a house?

Post by Cop51 » Sun Jun 24, 2018 7:32 pm

I thought I had everything covered but I purchased my home in the winter, but in the summer the sun beats down the front of the house from 3pm to 830pm and over heats the house and the AC can’t keep up. It’s going to be an expensive 5-10k fix adding a second zone. It was just overlooked bc of the time of year.

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