We are officially homeless!

iVillage Member
Registered: 04-08-2008
We are officially homeless!
8
Sun, 07-27-2014 - 11:09pm

Our house just closed today and we still don't have a new home. We found the perfect place - custom wood banners and kitchen but it went for multiple bids over asking. We stood on the sideliness bc we dont' like to compete with money AND we weren't totally sure until our sale was final. Now all the places we loved are gone. And new listings have dwindled. There is absolutely NOTHING closer to work in our price range so I'll be commuting over 30 mins for the next 20 years. Ugh.

So....we upped the price. We now have 2 contenders $50K over our initial budget. I was being conservative with the budget...but it means no maBettid service to wash floors or other luxury items.

I hate making any kind of commitment decisions. Frankly, it why I didn't get married until my 30s. I was sure I couldn't "pick" someone forever! I was proposed to by 4 other men before I said yes to my husband. Every other home we purchased has been a temporary choice. This is IT. This is the "until it is time to downgrade". Tough decisions!

Dh is panicking bc his brother is saying we are crazy to spend so much money. But I have a very realistic budget with lots of inflation room and fat. Like we don't necessarily need to spend $6k/yr on sports for the kids BUT if either of them excels in something we MIGHT.

Better make a decision quick....we have to be out in 30 days and closing takes longer here than in the US.


Dee

Community Leader
Registered: 07-26-1999
Mon, 07-28-2014 - 1:11pm
Can you rent something for a while while you continue looking for a place? I would hate to make a pressured decision on a house to buy "forever" and go above your planned budget because of a time crunch.
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iVillage Member
Registered: 11-22-2013
Mon, 07-28-2014 - 2:19pm
Oh Dee, this sounds nerve-wracking. It's great that your house closed and that you're able to put a contract on a place right away, but I'm sure this wasn't your ideal plan. Then again, a lot can happen in 30 days. Are you considering renting a place temporarily while you wait to buy, or do you have to get into a house immediately? It's all a very disruptive process, so my heart goes out to you. I pray something even better comes on the market that meets your needs perfectly. May God give you wisdom and patience in the days ahead. Moxiesbuddy
Community Leader
Registered: 08-25-2006
Mon, 07-28-2014 - 2:24pm

Yea, I am with Arryl.  Storage and rent.  Too big of a decision, I think, to make in a crunch AND over budget.  I mean, if it happens to work out and you can find what you what, for what you want, and when you want then GREAT!

I could be wrong, $50,000 is relative to what the amount is.  KWIM?  $1,000,000 and $1,0050,000.  Not much difference.  $150,000 and $200,000.  HUGE difference.  

I am horrible at making decisions, also.  And I don't know what it is like where you live.  

What does your DH think?  Are you dragging your feet?  Or does he want to rent and take you time?

Serenity

Serenity
iVillage Member
Registered: 12-31-2010
Tue, 07-29-2014 - 7:06pm
Dee- You are in the midst of high season and housing sales tend to slow down late fall and into the holidays. If you work closely with a realtor and can wait it out, you may find what you need. Also, on the sports budget, remember less than 2% of kids get sports scholarships , but over 10% (5 times as many) get academic scholarships. Kids that do some charitable work have the most success, when combined with good grades. Whiles sports are great for physical fitness, they can be a challenge on a family wallet. My daughter was great in softball, all state ranked, then decided she didn't want to play in college after 12 years. Thank gosh she was also a smart cookie and she earned academic and scholarships for collecting bottles that turned into cash donations to local charities. Good luck on the housing front! You will find the ONE! -Marie
#Marie
iVillage Member
Registered: 04-08-2008
Tue, 07-29-2014 - 8:32pm

Dh got upset with me when he noticed I was looking at rentals :) He is okay now, it was just a shock - like I wasn't committed to making this happen. It is a possibility but I don't want to move DS1's school more than once and there are no rentals in this school district.

We offered on a place last night a little closer to work and in a fantastic school district. Close to recreation and has a pool. I figure we'll save the extra money on summer vacations! The $50K is 850K instead of 800k. So relatively small proportionately. And my best friend has decided to move into the basement so we'll be paying way less with him. But it has been 24 hours and still no word. We are low balling them because it is empty and the season is closing on them. They will have to rent it out for a year and hope to sell next year if they don't accept our offer. At least that is our hope. It was up for over 900 in the spring.

So we'll see. Still looking but not much out there right now!


Dee

iVillage Member
Registered: 11-14-2008
Wed, 07-30-2014 - 8:30am

I know what you mean. Such a big decision. And you have to deal with it the rest of the mortgage term. I am trying to keep costs down, worried about interest rates going up and being able to pay for the mortgage payment in the first place. And putting extra money on it to pay it down may be a pipe dream with a small child.....So people saying oh just put the extra insulation in or build that deck just don't know what they are talking about. This has to be something we can handle. I'm trying really hard to keep it together. Do what makes sense to you Dee.

Love K

iVillage Member
Registered: 02-19-1998
Wed, 07-30-2014 - 11:44am

Keeping fingers and toes crossed for you. Renting wouldn't be a terrible thing but if you find a house you can live with go for it!

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Community Leader
Registered: 08-25-2006
Fri, 08-01-2014 - 12:03pm

Can't wait to hear what happens!  Sounds like the "over budget" isn't too horribly bad, especially if you have a plan on how to compensate for it.  

Crossing my fingers for you on this house!!!

Serenity

Serenity