Showing posts from March, 2014

tips for buying a house

A friend recently asked me for tips for buying a house.  My tips are below.

The biggest tip I can give you is not to stress.  It's expensive, it's complicated, and it is the biggest purchase you'll make in your life.  It's easy to stress.  Stay calm, people buy houses every day, and you've got advisors to handle all the paperwork.  At the end of the day, just make sure you trust your advisors, and feel comfortable with the house.  

I bought my first place 14 years ago or so in downtown Campbell.  A small condo.  It was $435k (a bargain today!), and I put 10% down, got an 80% primary mortgage, and a 10% secondary mortgage.  The $44k that I put down was the most money I'd ever had in my life at the time (I had just started at PwC).  But my point is this... it was incredibly stressful.  Especially the first offer I made (I ended up making 10).  Signing my name to a piece of paper committing to spend that much money was so stressful.  The second home I bought was to…