My house-buying update

Avatar for cl_shywon
iVillage Member
Registered: 03-20-2003
My house-buying update
14
Fri, 04-18-2008 - 10:23pm

For those of you following my story (and those of you considering following the same path..)


I

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iVillage Member
Registered: 02-08-2005
Sat, 04-19-2008 - 11:16am
I got my fingers crossed for you! I didn't know you could withdraw on your first offer, if you see another property that you like better. That's pretty cool. I guess you won't really know until you go and look at this other property tomorrow. I like the fact that it does have a deck. That would be nice to sit out on and relax or do some of your work. I guess this is some of the things I get to look forward to when I decide to buy a condo or townhome in the next two to three years.
5yrssm 
Avatar for cl_shywon
iVillage Member
Registered: 03-20-2003
Sat, 04-19-2008 - 12:06pm

There's an inspection period that you get to have the home inspector come and assess any repairs that need to be made.

iVillage Member
Registered: 11-01-2005
Mon, 04-21-2008 - 12:10pm

The other one sounds like a good option. Good luck.

I really do believe that you will find the right place for you in the end and that it will all work out. I had my heart set on another place before I bought my townhouse -- but the one I bought turned out to be the perfect one for me.

Stressful and the inspection $$ spent is annoying, but it will be worth it in the long run if you end up in the right first place for you.

AJ, enjoying life with C.

iVillage Member
Registered: 05-10-2005
Wed, 04-23-2008 - 8:43pm

I have been following this story, and was wondering if there were any new developments?

Avatar for cl_shywon
iVillage Member
Registered: 03-20-2003
Wed, 04-23-2008 - 9:57pm

The sellers

iVillage Member
Registered: 05-04-2007
Thu, 04-24-2008 - 10:14am

Good luck!


I like to play the can I afford a house game. And recently it actually looks possible again.


I haven't been following from the beginning, so I wonder, how did you handle the downpayment part? Did you have it all saved up or borrow? That's my stumbling block.


Good distraction frees us from emotional pain, bad distraction gives you a mouth full of whizz. ~~~ Guru Tugginmypudha
iVillage Member
Registered: 11-01-2005
Thu, 04-24-2008 - 11:15am

>> I haven't been following from the beginning, so I wonder, how did you handle the downpayment part? Did you have it all saved up or borrow? That's my stumbling block. <<

I can't speak for Shy, but in my case, I saved some and also took advantage of a first-time homebuyer program through my employer (they matched up to $5,000, and forgive $1,000 of the loan per year that I stay at the job). My lender also gave me a first-time homebuyer loan that allowed for a low percentage down (3 percent, but I put down a bit more than that).

Some of those rules have changed with all the foreclosure sub-prime mortgage hubub, but it's worth researching first-time buyer programs. Some are available through banks, some are based on the county where you live, some are for certain income levels, etc.

AJ, enjoying life with C.

Avatar for cl_shywon
iVillage Member
Registered: 03-20-2003
Thu, 04-24-2008 - 8:20pm

I had initially saved up money with the intent of using it for closing costs.

iVillage Member
Registered: 07-13-2007
Fri, 04-25-2008 - 11:35am

Shop the loan carefully. I bought my first house on the VA loan, but the next one I did better with a conventional loan and my good credit scores. Only consider fixed interest loans!! (-;


Sounds like you did the right thing pulling the first offer. How does the pluming in a home leak that way? Un-attended in the winter? Frozen pipes? (Florida, that is hardly an issue.) I have seen leaky roofs, termites that have eaten the whole house, snakes, gator's and even war zones in the front yard . . .

We in America do not have government by the majority. We have government by the majority who participate.
iVillage Member
Registered: 12-03-2006
Fri, 04-25-2008 - 4:30pm

Shy,


I'm looking for my first home as well. If you don't mind, what interest rate, points ect... did you get on your loan?


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