Buying my first house, give me some advice!
 

So i am going to the bank later today to get pre-approved for a mortgage. What should I look out for? got any advice on buying? what do I need to ask etc.

Also what type of things must i look into when finding a house i'm interested in, i know to ask about taxes, heating costs, prior work done on the house, but what else?

Thanks :)

P.S. Buying a house in Canada (just incase mortgages are different in the U.S.)

Wow. Buying a house probably something very exciting !! I wish you good luck, and post the results here :)

its driving me nuts right now, called about 15 different places yesterday and all were sold this week :(

well, the bank will have an inspector go check the house outr so he/she will tell you if there is anything wrong with the place. Where you buying it? In Sudbury? the valley?

Congrats, one of the best decisions you could ever make! Make sure you get an inspection and read the loan terms carefully. I'd recommend 15yr/20% down. Also, Check out bank reo's and/or hud homes... will save you thousands. I never bought a hud or bank reo, my next investment property will be.

Good luck man!

looking for Sudbury or Copper Cliff, last resort Chelmsford/Valley, my job is in town so I don't want to live on outskirts and deal with the drive, especially the Chemmy drive, no fucking lights on that stretch at night :(

well, there are a few in new sudbury for sale. you should check them out if you can. I saw one on Ramsey lake for $1 000 000 lol.. Check out http://www.mls.ca/ to see what's available in your price range. :)

I hope to be doing this soon myself, so I will be watching this thread. Paying rent is like pouring money down a hole.

I'm in the process of getting my first home right now. I got an amazing deal on a beautiful home, but these cocksuckers jerk you around so much. The mortgage brokers and realtors are a buncha crooks. Moving in May 24th. Only thing wrong with the house is it needs a new roof in 2-3 years.

I agree. That's why I bought my dad's house. (the house I grew up in)

Make sure you get a house inspector before you close on the house. They might find something that the sellers didn't disclose.

I just bought my first house 5 months ago. I love it, finally got used to the extra expenses. It was tough at first coz I just lived my life the same way I always did which meant spending money on stupid shit and buying anything I wanted. Then I realised I have tons of extra expenses now and calmed down.

Thats the only advice I could give is to watch your spending in the first few months. After that its easy!