Expert: Hans Weber, Licensed Broker Associate - 12/9/2005

Question
Hans,
I liked your expertise ad.  I am looking to buy my first home and I would like to know some of the basics as to what to do or not to do.  I'm leaning towards buying new and having it built.  I live in Texas, near Houston, and will probably buy a home for approximately $175,000.00  I know this is pretty general and vague but any advise would be greatly appreciated.
Oh and why do some doors open in and others out?
Thank you,
Landon

Answer
Hi Landon,

Thank you for your question.

When buying a home you need to decide several things.  What can you afford, what do you want, and what do you need.  Then you try to find the best match in the place best suited for you to live.

To do this best you should engage a Realtor who will represent you as a buyer's agent.  Coldwell Banker can do that for you and I could refer you to an agent in the area you want to live.

If you buy an existing home you can see what you are buying and can negotiate the price accordingly based on what you and your agent feel it is worth.

Contacting to have a new home built for you is exciting, but you really don't have a final price until the house is finished.  The model homoe might be $175,000, but features you want to add on can cost tens of thousands of dollars.  If you are buying in a development then the costs are probably more stable.  If you buy your own lot ansd have a contractor build for you it may result in some unforseen costs.  If you need a well the price cannot be 100% determined beforehand.  What if you hit rock (maybe there isn't any where you are in Houston?)?  Lots of little things add costs so you have to be prepared to spend more.  

In any case, check the references of the builder, be it Toll Brothers or an independent.

Good luck, it sounds exciting. And make sure the closet doors open out and bedroom doors open in.

Hans