AssassinJN

So my wife and I are looking to get a house in the next couple of months, most likely in Downingtown, possibly in West Chester. I hoping some of you living in the area can give me an estimate on what taxes etc. are going to be as we are trying to plan our budget as realistically as possible, but we're not sure how much all the other fees are going to be (other being other than mortgage).

Also if any of you have some good tips for first time buyers as far as how best to deal with closing costs etc. it would all be appreciated. Currently I'm spending most of my free time at work researching different options and such, but I'd like to know as much as possible.

Thanks.

Jay2000

Downingtown is a nice area taxes are normal compared to the area. I live in coatesville school district but have a downingtown address our taxes are a little higher. It is a buyer's market now, lot's of homes for sale, look for a home that has been on the market a while, they are usually more eager to sell . There are some homes available in our development, trestle woods, great area and quiet. As far as mortgages go the only advice I can give you is try to be under 80% of the home value to avoid PMI insurance. Whether with cash down or other types of mortgages. Good luck.

EJO

I suggest waiting another 6 months before buying, the housing market will continue to weaken and prices will continue to drop. You may have to finance at a higher interest rate but you can always refinance later.

AssassinJN

You're actually quite near where we were looking. So far we've been looking a lot in victoria crossings, which is also downingtown zip, but coatesville schools. I still don't get how coatesville school taxes are higher, when you compare the schools to dtown's.

Jay2000

Check us out the development is a great community, always something going on. lot's of parties, get together's etc. Everyone is friendly and there are only like 30 homes in a wooded area.

AssassinJN

Unfortunately I can't wait quite that long. The apartments that we are in (Exton Crossings) rent by 1-year contracts only. If we pull out before the end of a year contract (ours expires in march) we have to pay a hefty fine, or possibly even the rest of the years worth of rent. However we are willing to wait out quite a bit until the price drops a few times on a house we want.

AssassinJN

Jay you community is actually just what we were looking for, except that it's a little over our budget. Unfortunately we've still got 3 school loans plus my car, which makes our monthly payments pretty high. We also don't have enough saved yet to put down enough to really make any difference.

Even considered selling the S and getting a cheapo civic, but decided it would be harder to justify buying it again in a couple years than just keeping it.

Mostly we just can't stand seeing our hard earned money going to rent anymore with no return.

mustangkiller01

i suggest buying in jan./feb. this is when homeowners are more likely to accept offers a good bit lower than what they are asking due to A: there house is for sale in the winter months so more than likely the have to move soon. B: they don't get to many people looking at there house because it's winter. C: all the hoilday credit card bills are coming in and they need money fast.

this is what i do for a living and it is def. cheaper to buy in the winter. just my 2 cents.

AssassinJN

Thanks for the info mustangkiller, we may end up waiting until closer to then so that we can finish paying off some bills and such, so that may work out for the best.

And nice car list, love the R1's wish I could have found one in good condition.

nakdboardr

Jay----you can move in with me.......