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<blockquote data-quote="tRidiot" data-source="post: 3218134" data-attributes="member: 9374"><p>As for the home warranty... I, too, agree the home warranty is a great thing to have the first year or two, especially if your "new" home is older OR brand newish. We had a home warranty thrown in by our realtor and we have kept it. We keep talking about cancelling it every year, but ALMOST every year it has ended up being a boon. It can be a pain, as sometimes we have to wait for some repairs, sometimes they have to send someone from out of town because they haven't got a contract with someone local (Old Republic, I think is ours) and I realize it isn't for everyone. But we have had them send people out NUMEROUS times for our old HVAC, sometimes multiple times in one summer - a couple of years ago, after 5 or 6 or more years of putting freon in several times a year, they finally replaced the A coil and it has made a huge difference. Our HVAC is old and probably in need of replacement, but we just aren't able to do that yet. The warranty has helped us limp through.</p><p></p><p>Like I said, it may not be for everyone and every house, and there may have been a year or two we have lived here (10 years in June) that it didn't pay for itself, but overall, it's been a good thing for us. Dishwasher, ceiling fans, HVAC, fridge, etc. Water heater, plumbing issues, all kinds of things pop up that you don't think about. Home ownership can be expensive, so whatever you do, DO NOT extend yourself to buy a home that is at the edge of what you can afford. Property values change, taxes get reassessed and your escrow costs go up, and lots of repairs and upkeep you have to deal with. Our damn mortgage has been sold so many times I have no idea who owns it anymore (actually, I do, it's Carrington, now), and our house payment is now $200 or $300 more than when we closed. Add in repairs and upkeep, and if we were just barely able to make our mortgage, we'd be living in a falling-down heap now, because we couldn't have afforded all the additional things that crop up.</p><p></p><p>Figure out what you CAN pay, and if it were me, I'd cut that by 20% to figure out what I am willing to deal with as far as mortgage, save the rest every. single. month. in an account for when things go wrong.</p><p></p><p>Just my stupid advice from my single ever home purchase. I'm not a knowledgeable guy, just hit some landmines along the way.</p><p></p><p><img src="/images/smilies/new/cry10.gif" class="smilie" loading="lazy" alt=":crying:" title="Cry10 :crying:" data-shortname=":crying:" /></p></blockquote><p></p>
[QUOTE="tRidiot, post: 3218134, member: 9374"] As for the home warranty... I, too, agree the home warranty is a great thing to have the first year or two, especially if your "new" home is older OR brand newish. We had a home warranty thrown in by our realtor and we have kept it. We keep talking about cancelling it every year, but ALMOST every year it has ended up being a boon. It can be a pain, as sometimes we have to wait for some repairs, sometimes they have to send someone from out of town because they haven't got a contract with someone local (Old Republic, I think is ours) and I realize it isn't for everyone. But we have had them send people out NUMEROUS times for our old HVAC, sometimes multiple times in one summer - a couple of years ago, after 5 or 6 or more years of putting freon in several times a year, they finally replaced the A coil and it has made a huge difference. Our HVAC is old and probably in need of replacement, but we just aren't able to do that yet. The warranty has helped us limp through. Like I said, it may not be for everyone and every house, and there may have been a year or two we have lived here (10 years in June) that it didn't pay for itself, but overall, it's been a good thing for us. Dishwasher, ceiling fans, HVAC, fridge, etc. Water heater, plumbing issues, all kinds of things pop up that you don't think about. Home ownership can be expensive, so whatever you do, DO NOT extend yourself to buy a home that is at the edge of what you can afford. Property values change, taxes get reassessed and your escrow costs go up, and lots of repairs and upkeep you have to deal with. Our damn mortgage has been sold so many times I have no idea who owns it anymore (actually, I do, it's Carrington, now), and our house payment is now $200 or $300 more than when we closed. Add in repairs and upkeep, and if we were just barely able to make our mortgage, we'd be living in a falling-down heap now, because we couldn't have afforded all the additional things that crop up. Figure out what you CAN pay, and if it were me, I'd cut that by 20% to figure out what I am willing to deal with as far as mortgage, save the rest every. single. month. in an account for when things go wrong. Just my stupid advice from my single ever home purchase. I'm not a knowledgeable guy, just hit some landmines along the way. :crying: [/QUOTE]
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