Back from house hunting!
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|Mon, 08-09-2010 - 6:57am|
Sorry I've been AWOL again. I've been house hunting!
DH and I ran the numbers for renting for 3-6 years in our new post, compared that to the cost of buying at today's interest rates, and decided to look for a house to buy instead. It was a quick decision, but the numbers were so clear, it was an easy one. Also, the chances of us staying for 6 years is very high.
So, we did find a fantastic house in a great neighborhood and our offer was accepted. Also, the sellers are moving overseas, so they're leaving their dining set and living room furniture for us, plus a really beautiful chandelier! They might leave more furniture too, but that's just the stuff that was in our contract. And, they are paying our closing costs.
Our interest rate will be 4.5% and the house is in a whole different league than others we saw in the same price range. The sellers are very motivated, so they dropped the price to just what they paid for it in 2003, before the housing market took off. It's a heck of a deal! And, it keeps our housing costs under 30% of our take-home pay.
The inspection went very well and we should be all moved in next month! And, our first mortgage payment isn't due until Nov 1, which puts a little extra in our pocket to get settled in. :o)