[Ed. I wonder if some people disagree with #10, considering some are
waiting for prices to go down, yeah right, before actually buying one.]

10 biggest home-buying mistakes

By Pat Curry • Bankrate.com


David Weekley, CEO of Houston-based David Weekley Homes, is one of the
country's largest home builders and also the author of a new book, How to
Buy a Home Without Getting Hammered.



Based on 25 years of home-building experience for 30,000 people, Weekley
offers these 10 biggest mistakes in home buying:

Not doing your homework. Knowledge is power. Tremendous information is
available on the Internet. There is no excuse for entering the market
unprepared.

Trying to make a shrewd investment. People need to buy based on what fits
their family. Don't try to guess what will happen to the market.

Choosing a poor location. Even within a neighborhood, location matters. Is
it on the busiest street? Is there a shopping center out the back window?

Overlooking an inferior floor plan for an attractive exterior. It may have
gorgeous curb appeal, but you don't live on the lawn. No matter how
attractive the exterior, you need a livable home.

Continued below


Overlooking how the house will function for your family. How do you really
live? Do you really need a formal dining room and living room? Would you be
happier with an eat-in kitchen and a great room and a den to use as a home
office? The house only needs to fit one family -- yours.

Not having the home properly inspected in a resale. This is not the time
for surprises. Get an inspection from a qualified, respected professional.


Ready to find a mortgage? Check rates in your area.


Not checking out the builder's reputation on a new home. Talk to three or
four people who live in the builder's homes and see what they have to say.
If one builder did all the houses in a neighborhood, talk to the residents
and get their input. It's also a great way to see what your neighbors would
be like.

Not getting what you want because you're impatient. This is a big decision.
You need time. Impatient decisions can lead to mistakes.

Waiting for a better market and interest rates. Warren Buffett says the
rear view mirror is always clearer than the windshield.

Not buying at all. If you can afford a home and you don't make that
purchase, you'll lose the benefit of tax deductions, building home equity
and the appreciation in value.

-- Posted: March 15, 2004

http://www.bankrate.com/brm/news/rea...0-mistakes.asp

--
"Expect nothing. Live frugally on surprise." -- Alice Walker

Funny, I would have thought that the number one biggest home buying mistake
would have been "Buying more house than you need just for appearances sake,
or trying to impress your family, or keep up with the Joneses".

DIVa


--
Unemployed? Lonely? Overweight? Depressed?
* * * * * DON'T BE! * * * * *
http://tinyurl.com/38sc7

In article ,
Ablang wrote:

[Ed. I wonder if some people disagree with #10, considering some are
waiting for prices to go down, yeah right, before actually buying one.]

who's Ed

Will add - taking the sellers word for the location and condition of the
septic tank.

JonquilJan

Learn something new every day
As long as you are learning, you are living
When you stop learning, you start dying

[Ed. I wonder if some people disagree with #10, considering some are
waiting for prices to go down, yeah right, before actually buying one.]

who's Ed

Ed Itorial... some dude famous for making comments.

"Diva Martine" wrote in
news:6BP6c.78265$iO.29023@fe21:

Funny, I would have thought that the number one biggest home buying
mistake would have been "Buying more house than you need just for
appearances sake, or trying to impress your family, or keep up with
the Joneses".

I don't know about the biggest, but the most common mistake seems to be
closing on a house, then posting to misc.comsumers.house with the question,
"Did I get a good deal?"

In article 3GQ6c.46013$KO3.144004@attbi_s02,
"mike" wrote:

[Ed. I wonder if some people disagree with #10, considering some are
waiting for prices to go down, yeah right, before actually buying one.]

who's Ed

Ed Itorial... some dude famous for making comments.



that would work it ablang were actually a reporter.

In article 6BP6c.78265$iO.29023@fe21, Diva Martine wrote:

Funny, I would have thought that the number one biggest home buying mistake
would have been "Buying more house than you need just for appearances sake,
or trying to impress your family, or keep up with the Joneses".


I'm not sure this is a problem for most people. Most of us can't even
afford what we need, let alone more than we need.


Dimitri

In article , JonquilJan wrote:
Will add - taking the sellers word for the location and condition of the
septic tank.

JonquilJan

That's not even funny. I have a usenet-friend who's going to try and dowse
the location of her tank today - while her husband is off trying to rent a
metal detector to find the pipes. The system pre-dates county inspections
and paperwork so there's no record of where the tank is.

In article , (D. Gerasimatos) wrote:
In article 6BP6c.78265$iO.29023@fe21, Diva Martine wrote:

Funny, I would have thought that the number one biggest home buying mistake
would have been "Buying more house than you need just for appearances sake,
or trying to impress your family, or keep up with the Joneses".


I'm not sure this is a problem for most people. Most of us can't even
afford what we need, let alone more than we need.

Increasing affluence in our society means that many among us have difficulty
distinguishing between what we truly need, and what we merely want. My
father's parents raised seven children in a house that is scarcely any larger
than my garage.

In article , wrote:
In article , JonquilJan wrote:
Will add - taking the sellers word for the location and condition of the
septic tank.

JonquilJan

That's not even funny. I have a usenet-friend who's going to try and dowse
the location of her tank today - while her husband is off trying to rent a
metal detector to find the pipes. The system pre-dates county inspections
and paperwork so there's no record of where the tank is.

Tell your friend to forget about dowsing, and never mind the metal detector.
The easiest way to find the tank is to hire a company to pump it out. They'll
find it quick enough.

"Diva Martine" wrote in message news:6BP6c.78265$iO.29023@fe21...
Funny, I would have thought that the number one biggest home buying mistake
would have been "Buying more house than you need just for appearances sake,
or trying to impress your family, or keep up with the Joneses".

Buying a new home every several years can be a big cash drain, so
don't buy a house that won't meet your anticipated needs.

--
Ron

In article m,
Doug Miller wrote:

Increasing affluence in our society means that many among us have difficulty
distinguishing between what we truly need, and what we merely want. My
father's parents raised seven children in a house that is scarcely any larger
than my garage.


Well, we don't truly *need* anything except food, water, air, and a little
sunshine.


However, I doubt that very many people buy more house than they need. Lots
of people buy more expensive cars then they need, but I insist that it
is a rare bird who could've gotten away with a much smaller dwelling but
who just decided to go ahead and splurge on a bigger one.


By the way, do you really *need* a garage? Lots of folks don't have one.
You must be one of those people out to impress the Joneses.


Dimitri

D. Gerasimatos wrote:

However, I doubt that very many people buy more house than they need. Lots
of people buy more expensive cars then they need, but I insist that it
is a rare bird who could've gotten away with a much smaller dwelling but
who just decided to go ahead and splurge on a bigger one.

By the way, do you really *need* a garage? Lots of folks don't have one.
You must be one of those people out to impress the Joneses.

Dimitri

I guess you haven't been living in the United States anytime in the last
20 years. People routinely buy much bigger houses than they need here.
Its almost become standard practice in the US upper middle class.
How else can you explain why the average size of a new house has gone up
at least 20-30% in the last 20 years but family sizes are the same or
smaller?

Andy

and when did you get appointed the arbiter of what people need?

It isn't what they need. It is what they want and how big of a mortgage they can get.

In article , 127.0.0.1 wrote:
On Mon, 22 Mar 2004 06:17:56 -0700, Andy
wrote:


I guess you haven't been living in the United States anytime in the last
20 years. People routinely buy much bigger houses than they need here.
Its almost become standard practice in the US upper middle class.
How else can you explain why the average size of a new house has gone up
at least 20-30% in the last 20 years but family sizes are the same or
smaller?

and when did you get appointed the arbiter of what people need?

Do you honestly think that anybody *needs* a 5,000 sq ft house?

Doug Miller wrote:
In article , 127.0.0.1 wrote:

On Mon, 22 Mar 2004 06:17:56 -0700, Andy
wrote:


I guess you haven't been living in the United States anytime in the last
20 years. People routinely buy much bigger houses than they need here.
Its almost become standard practice in the US upper middle class.
How else can you explain why the average size of a new house has gone up
at least 20-30% in the last 20 years but family sizes are the same or
smaller?

and when did you get appointed the arbiter of what people need?


Do you honestly think that anybody *needs* a 5,000 sq ft house?

Do you honestly think that anybody *needs* indoor plumbing or
electricity?

Anthony

In article m,
Doug Miller wrote:

Do you honestly think that anybody *needs* a 5,000 sq ft house?


Not a whole lot of these being sold.


Dimitri

In article , Anthony Matonak wrote:
Doug Miller wrote:
In article , 127.0.0.1 wrote:

On Mon, 22 Mar 2004 06:17:56 -0700, Andy
wrote:


I guess you haven't been living in the United States anytime in the last
20 years. People routinely buy much bigger houses than they need here.
Its almost become standard practice in the US upper middle class.
How else can you explain why the average size of a new house has gone up
at least 20-30% in the last 20 years but family sizes are the same or
smaller?

and when did you get appointed the arbiter of what people need?


Do you honestly think that anybody *needs* a 5,000 sq ft house?

Do you honestly think that anybody *needs* indoor plumbing or
electricity?

Much of the world's population manages to survive without them.

In article , 127.0.0.1 wrote:
On Mon, 22 Mar 2004 18:11:51 GMT, (Doug Miller)
wrote:

In article , 127.0.0.1 wrote:
On Mon, 22 Mar 2004 06:17:56 -0700, Andy
wrote:


I guess you haven't been living in the United States anytime in the last
20 years. People routinely buy much bigger houses than they need here.
Its almost become standard practice in the US upper middle class.
How else can you explain why the average size of a new house has gone up
at least 20-30% in the last 20 years but family sizes are the same or
smaller?

and when did you get appointed the arbiter of what people need?

Do you honestly think that anybody *needs* a 5,000 sq ft house?
how do you know what someone needs? I live in an 1800 sq ft house and
it is way too small, 5k sq ft seems big, but I would love to get to
somewhere around 4k sq ft. in my home

Way too small for what? You seem to be surviving OK...

"127.0.0.1" wrote in message
...
On Mon, 22 Mar 2004 19:40:24 GMT, (Doug Miller)
wrote:


Much of the world's population manages to survive without them.

do you? would you? I don't think you would


My wife and I built 6,500 Sq. Ft. 10 years ago. We love the space. All rooms
are large and my wife has an old fashioned "parlor" that she loves.

In article ,
127.0.0.1 127.0.0.1 wrote:

Not a whole lot of these being sold.


maybe where you are, around here the mini mansions sell real quick


A 6,000 square foot house is a mansion, not a mini-mansion, and if you
are honest with yourself you will realize that there aren't a lot of
houses this size built and sold as a percentage of all houses built
and sold.


Dimitri

(D. Gerasimatos) wrote in message ...
In article m,
Doug Miller wrote:

Increasing affluence in our society means that many among us have difficulty
distinguishing between what we truly need, and what we merely want. My
father's parents raised seven children in a house that is scarcely any larger
than my garage.


Well, we don't truly *need* anything except food, water, air, and a little
sunshine.


However, I doubt that very many people buy more house than they need. Lots
of people buy more expensive cars then they need, but I insist that it
is a rare bird who could've gotten away with a much smaller dwelling but
who just decided to go ahead and splurge on a bigger one.


I am not sure you can convince me that all those single people or
young couples w/no kids *really need* a 3000+ sq ft house. That's the
going model for most new homes in this town. Around here, it seems
*most* people buy more house than they need.

(D. Gerasimatos) wrote in message ...
In article m,
Doug Miller wrote:

Do you honestly think that anybody *needs* a 5,000 sq ft house?

Not a whole lot of these being sold.

Dimitri

Well I did a check in my city (800,000) and there are 70 homes on the
market right now that are 5,000 square feet or larger. I don't know if
that qualifies as "not a whole lot" or not.

Andy

On Mon, 22 Mar 2004 19:03:24 +0000 (UTC),
(D. Gerasimatos) wrote:

In article m,
Doug Miller wrote:

Do you honestly think that anybody *needs* a 5,000 sq ft house?


Not a whole lot of these being sold.


Dimitri


That depends on where you are looking. In some areas, that's about
all you will find.

In article , 127.0.0.1 wrote:
On Mon, 22 Mar 2004 06:17:56 -0700, Andy
wrote:


I guess you haven't been living in the United States anytime in the last
20 years. People routinely buy much bigger houses than they need here.
Its almost become standard practice in the US upper middle class.
How else can you explain why the average size of a new house has gone up
at least 20-30% in the last 20 years but family sizes are the same or
smaller?

and when did you get appointed the arbiter of what people need?

As a matter of fact, I have not been appointed the arbiter of what
people need. I only made the following logical analysis:

Fact: 30 years ago the average new home was substantially smaller
than the average new home today.

Fact: The average number of people per household has declined during
that period.

Assumption: People's square footage needs were met by the new houses
being produced by the free market 30 years ago.

Assumption: Human "needs" do not change over time; only preferences
change over time.

Conclusion: People are now buying houses bigger than they need.

Andy

In article , 127.0.0.1 wrote:
On Mon, 22 Mar 2004 19:41:46 GMT, (Doug Miller)
wrote:


Way too small for what? You seem to be surviving OK...
ugh, another who knows better than me what's good for me

And you're another one of those people who can't tell the difference between
what he needs, and what he wants.

In article , 127.0.0.1 wrote:
On Mon, 22 Mar 2004 19:40:24 GMT, (Doug Miller)
wrote:


Much of the world's population manages to survive without them.

[electricity and indoor plumbing]

do you? would you? I don't think you would


No, and I do not want to. But the point is that many people can and do survive
without them. They are *not* necessities.

Conclusion: People are now buying houses bigger than they need.

You have to take into consideration eBay, Home Shopping Channel and QVC.

People gotta have a place to put the "stuff" they buy from these places.

Just watch for the UPS man and his brown truck.. Things go into these houses but never leave .

And that is why 2 people need 5,000 sq ft of space..

It isn't what they need. It is what they want and how big of a mortgage they can get.
how do you presume to know what anyone but yourself needs?


I got my "What People Need" overseer badge right here..

Found it at the bottom of my Captain Crunch cereal box at breakfast.

I am not sure you can convince me that all those single people or
young couples w/no kids *really need* a 3000+ sq ft house. That's the
going model for most new homes in this town. Around here, it seems
*most* people buy more house than they need.



Where is here ?

Over in my area anything under 3,000 sq feet is considered an outhouse.

In article ,
127.0.0.1 127.0.0.1 wrote:

around here 12k sq ft is a mansion, anything less is a mini, sure
most homes are much smaller. Since only the top 5% can afford the mini
mansions and the top 1% can afford the real deal builders don'r mass
build those homes. Builders are in business to make money and they
will build homes people can afford to buy, and if mini mansions sell
well, that's what they'll build. apparently there is a bit more
affluence close to me than there is wherever you are


I am in California, but I bet that folks in Manhattan would also take
issue with your implication that the prevalance of 6000 square foot homes
is a necessary sign of affluence. The average home nationwide is something like
2000 square feet. In those terms, a 6000 square foot house is a mansion.
I doubt that even 5% of the population can afford a 6000 square foot home.


However, the reality is that not many people are buying these
multi-million dollar homes. To even bring them into the discussion about
"people buying more house than they need" is ridiculous. You yourself
say that it's just 1% of the population who can even afford them.


Like I said before, most people can't even buy as much house as they need
let alone more than they need.


Dimitri

In article ,
Andy wrote:
(D. Gerasimatos) wrote in message ...
In article m,
Doug Miller wrote:

Do you honestly think that anybody *needs* a 5,000 sq ft house?

Not a whole lot of these being sold.

Dimitri

Well I did a check in my city (800,000) and there are 70 homes on the
market right now that are 5,000 square feet or larger. I don't know if
that qualifies as "not a whole lot" or not.


To answer that question you'd have to say how many are on the market that
are 5000 square feet or smaller.


Dimitri

In article ,
Bob Ward wrote:
On Mon, 22 Mar 2004 19:03:24 +0000 (UTC),
(D. Gerasimatos) wrote:
In article m,
Doug Miller wrote:

Do you honestly think that anybody *needs* a 5,000 sq ft house?


Not a whole lot of these being sold.


That depends on where you are looking. In some areas, that's about
all you will find.


Which areas are these? There is no major city or region I am familiar with
in which this is even close to an average. These large cities with nothing
but 5000 square foot houses sound great. Even in the South (where land is
cheap and one these houses costs 1/5 what it does here) 5000 square feet
is not even close to an average.


Dimitri

In article ,
Andy wrote:

As a matter of fact, I have not been appointed the arbiter of what
people need. I only made the following logical analysis:

Fact: 30 years ago the average new home was substantially smaller
than the average new home today.

Fact: The average number of people per household has declined during
that period.

Assumption: People's square footage needs were met by the new houses
being produced by the free market 30 years ago.

Assumption: Human "needs" do not change over time; only preferences
change over time.

Conclusion: People are now buying houses bigger than they need.


What about all of those existing houses? New construction is just a part
of overall demand for housing. There are also lots more condos, townhomes,
and apartments than before. Are you counting those?


Dimitri

In article ,
XOR wrote:

I am not sure you can convince me that all those single people or
young couples w/no kids *really need* a 3000+ sq ft house. That's the
going model for most new homes in this town. Around here, it seems
*most* people buy more house than they need.


This sounds specific to your town. Do not project it across the entire
USA. Nationwide, the average house is less than 3000 square feet.


Dimitri

In article ,
127.0.0.1 127.0.0.1 wrote:
On Tue, 23 Mar 2004 00:56:49 +0000 (UTC),
(D. Gerasimatos) wrote:


Like I said before, most people can't even buy as much house as they need
let alone more than they need.

which gets us back to who decides what someone needs? you? the housing
committee? who?


I am not the person who said that people buy more house than they need.
Take it up with that person.


Dimitri

In article , 127.0.0.1 wrote:
On Tue, 23 Mar 2004 00:26:20 GMT, (Doug Miller)
wrote:

No, and I do not want to. But the point is that many people can and do survive

without them. They are *not* necessities.

to me they are indeed necessities

Proving that you are one of those people who can't tell the difference between
wants and needs. They make your life more comfortable. But you will not die
without them.

In article , 127.0.0.1 wrote:

lifestyles change, it wasn't uncommon in the 50's and 60's to have
children share rooms, live in a house with only one bedroom, live in a
house without a "den"/entertainment room. People are more affluent now
and demand more from the home they live in. Maybe you want to remain
stuck in a decades old lifestyle but obviously many others don't.

Exactly the point: they don't *want* to.

127.0.0.1 wrote:
On 22 Mar 2004 15:07:54 -0800, (Andy)
wrote:

Assumption: Human "needs" do not change over time; only preferences
change over time.

Conclusion: People are now buying houses bigger than they need.

Andy

2+2=5

lifestyles change, it wasn't uncommon in the 50's and 60's to have
children share rooms, live in a house with only one bedroom, live in a
house without a "den"/entertainment room. People are more affluent now
and demand more from the home they live in. Maybe you want to remain
stuck in a decades old lifestyle but obviously many others don't. What
you should be stating is that people are buying home that would be too
large for YOU

I guess we define "need" differently. What you call a need, I call a
preference. To me a need is something that you die without. To you
something you want is a need.

Andy