House Purchase Advice

[G.Irish]

Good to know. My budget for repair/renovation is going to be fairly small, I'm planning on putting 10% down on the house.

Any particular reason why 10%? Are you planning on going with an FHA loan or no? It might make more sense to put down 3 to 5% and keep the rest in the bank for repairs. There is always something you are going to want to improve or needs fixing. Nothing says you cant make a large payment and lower the principle the exact same amount as if you used the cash as a down payment.

Word. That is what my girlfriend did and she was able to roll substantial renovations into the mortgage. You could do the same and do a much smaller amount of upgrades if need be.

But then again, getting a house that doesn't need any upgrades/repairs is a lot less hassle.