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  • Showing only topics with the tag "housing". Back to normal view
    1. House hunting tips for a millennial who's never owned one

      I'm starting the process of looking to buy a house. My partner uses a power wheelchair and anything we buy is going to need to be accessible or modifiable. So I know we're looking for a ranch,...

      I'm starting the process of looking to buy a house. My partner uses a power wheelchair and anything we buy is going to need to be accessible or modifiable. So I know we're looking for a ranch, probably 3/2 at most is what will be affordable but I'm finalizing my pre-approval now.

      That said... I'm almost 40 and I've never bought a house before. What are some things I need to know when looking at a house? I have a realtor and we're looking at our first place tomorrow. I'm bringing a measuring tape because the accessibility will matter.
      But I don't even know where to start and what the normal questions are!

      48 votes
    2. Is this really what renting is like now? (Pennsylvania, USA)

      Just coming back into the rental market after owning a home for a short time. I found a place that would be great. Then, I got the lease. This thing is a nightmare. Here are a few of the greatest...

      Just coming back into the rental market after owning a home for a short time. I found a place that would be great. Then, I got the lease.

      This thing is a nightmare. Here are a few of the greatest hits:

      • The lease lists my rent and then says they can charge "additional rent" which is "all added charges, costs, and fees for the duration of this lease." So, sounds like they can just make up a number and add it to the rent and I have to pay it?
      • The landlord will make a "good faith effort" to make the apartment available to me when my lease starts. Shouldn't the landlord actually do that, not just make any sort of "effort" to do it, "good faith" or otherwise?
      • If the unit is damaged such that I cannot live there while repairs are being made, the landlord "may" issue me a credit for the days I can't live there. What criteria will the landlord use? If they decide not to, that means I'll be paying rent for an apartment I cannot occupy?

      This is a short lease — I've seen much longer in my time renting — but even so, I could come up with a dozen more examples like this. What is going on here? I've read the law in the area, and I suspect some of the clauses in here are actually unenforceable. For example, the lease allows for automatic rent increases at lease renewal without notification while the law requires 60 days notification, and it requires me to notify 14 days after notification of a rent increase if I do not accept where the law says I have 30 days to do so.

      But how did we get here? I just want to pay a specified amount every month in order to be able to live in a space someone else owns. This should be relatively simple, but it's turned into this weird whack-a-mole game where every lease is a document of all that landlord's past tenant grievances they are trying to now avoid in the future, along with any other unreasonable terms they think they can get away with. Regardless of what the law is, the lease can say anything. If I read it and decline to sign, the next person will probably just sign it and hope for the best.

      For those of you who are renting, how do you deal with this sort of stuff? Are there reasonable landlords still out there? Is the right way to buy a home just to escape from unreasonable lease terms, even if you don't really want to own?

      Update: Possibly important context- This property is in Philadelphia, Pennsylvania.

      47 votes
    3. Has anyone had success purchasing the home that they were renting through a property manager?

      We are renting a condo in an area that's experiencing tremendous rent and home price increases, so much so that if we refuse to renew our increased lease, we'd be looking at spending 2-3x on rent...

      We are renting a condo in an area that's experiencing tremendous rent and home price increases, so much so that if we refuse to renew our increased lease, we'd be looking at spending 2-3x on rent for a similar property. This is, somewhat conveniently, almost exactly what the total cost of monthly expenses would be if we purchased the unit at its estimated cost when comparing to similar units in the complex that recently sold. We also really like the location and would rather eat an increase in rent here than relocate in our city, which complicates things a little further.

      My wife and I have floated the idea of approaching our property manager and asking if the owner has any willingness to sell, but we are also trying to imagine possible consequences of starting that conversation -- in particular, should they opt to sell but not to us. There are also some things that we'd like to update in our unit that would fall under the landlord's obligation while we are renting (plumbing issues, windows and blinds need repairs, etc.), so we're trying to gauge if we should even have this conversation before we request repairs.

      We've thought about a few different options, and I'd be interested to hear from others who have tried anything similar.

      1. Just ask to buy it and see what happens.

        • Pro: skirt all the bullshit and just get to the meat of the issue, which is that we want to buy the property.
        • Con: They check the price, decide to sell to someone else and we're back in "rent the same for more but in a worse location" territory. If they decide to sell to us, they might resist performing repairs because they'll just offload it to us eventually.
      2. Wait for repairs to be done, then ask.

        • Pro: get our unit fixed, improve QOL immediately.
        • Con: They might be less likely to sell to us if they think we were trying to get stuff fixed so we didn't have to fix it after buying.
      3. Offer some kind of plan to cost-share improvements or fixes in exchange for rent adjustments within the initial approach about buying.

        • Pro: Get improvements/fixes to the house quickly, reduce rent expenses regardless of if we are able to buy or not.
        • Con: They essentially get to subsidize improvements to their unit for long-term gain while we only get short-term benefits.
      23 votes
    4. What are your experiences with condo ownership?

      I'm deciding between home/condo ownership. A good condo/house cost roughly the same in my area. But I'm single and don't need a lot of space, so a condo makes sense. However, noise from neighbors...

      I'm deciding between home/condo ownership. A good condo/house cost roughly the same in my area. But I'm single and don't need a lot of space, so a condo makes sense. However, noise from neighbors is puts me off (a lot). Constantly hearing noise (parties, stomping, pets, etc.) would have a serious negative impact on what's supposed to be a home where you can relax and not deal with the world.

      What are/were your experiences? Did the HOA do their diligence when things break or need maintenance? Are their costs reasonable considering how much is needed (time+money) to maintain a house? Was the heated parking garage worth the costs?

      38 votes
    5. Thinking about a short-term lease in Hawaii, specifically Honolulu

      My lease is ending within the next two-three months and I have been trying to plan my next steps. My goal has been to buy a house (and hopefully coincide with my lease ending) but the more I have...

      My lease is ending within the next two-three months and I have been trying to plan my next steps. My goal has been to buy a house (and hopefully coincide with my lease ending) but the more I have been looking at inventory, the more I have been hesitating about that commitment. I currently am a full time remote worker who can live in any US state at any given point.

      I found that I can find a short term rental (60-90 days) in downtown Honolulu and am finding myself increasingly interested in the prospect. I have never visited Hawaii, and while I was recently married, we never actually went on a honeymoon because we are saving for a house. The rental I would choose would be ~$2300 a month, fully furnished and utilities included. I of course would have additional cost to consider, such as needing to put all my furniture in storage and paying rent on the locker. In addition, I would not have my car so I would need to find a decent place that is walking distance to life necessities.

      This option would not make me broke, but it would cost me additional money. If I bought a house now, I would probably have to hold off on any big vacations for awhile, and Hawaii was on our list to go to in the next 5 years.

      So just curious, what are your thoughts? Would this be a good way to spend my winter or would the burden of not having a car be difficult in Hawaii? Any other things I need to think about?

      13 votes
    6. Things to consider when viewing a house, not in regards to inspection concerns?

      My spouse and I were recently pre approved for a home loan; this evening, we will be going to look at a house for the first time. This will be our first house, and unless truly extenuating...

      My spouse and I were recently pre approved for a home loan; this evening, we will be going to look at a house for the first time. This will be our first house, and unless truly extenuating circumstances arise, we will not be looking to move or sell anytime soon.

      There are plenty of existing threads and articles covering things to look for in terms of the state of the house itself, such as foundation cracks, new paint covering mold, water damage, etc; what I am looking for is more a question of things to consider potentially liking or disliking about a home, regardless of its state of repair, that we might not think of until it's too late.

      For example, some things I've come across that are important and can't be changed about a house, but I wouldn't have thought to consider if I hadn't seen someone else mention them, include:

      • whether we get good cell service when not using wi-fi
      • whether the hallway is wide enough to move large furniture through
      • what direction the house faces, and subsequently when/where light comes in

      What other things might be easy to overlook about a property, but should be taken into account?

      35 votes