Buy a House

I have found a house and can almost say I have bought it. The only problem is that the investor selling it can’t seem to get a deed written up in a timely manner. I have already gone through 3 closing dates and I am still waiting to close! I knew before I started that the foreclosure market can be challenging and patience is required, but I was suppose to close a month ago! So close and yet so far….Here is hoping that my attorney has some good news for me today!

Much to my surprise there was a decent fixer upper that I could afford in an area near my work. I put a bid in on the place, but I was outbid by another buyer. Oh well. At least I am aware of how to put in an offer, the types of mortgages I am approved for, and the housing market in my area. I also found a roommate, which will hopefully increase the amount of money I am able to save each month. I will start looking again 4 or 5 months before my lease is up next year.

Once the cost of taxes, general upkeep and utilities are added up I find it depressing how little house I can afford. In some areas 170,000 might be enough to buy a house with only cosmetic work needed, but you can’t buy land for that price here. I am anxious, but this goal will be a few years off still. I hate renting and can’t wait till I can get into a place and start fixing it up and making it my own. I know a fixer upper is hard work. I helped gut and rebuild one of my parents houses. It was hard work, but at the end of the day it’s something you can be proud of.

Well, I have found a potential roommate that I might share an apartment with to reduce my monthly costs and help save.

First you have to save. My first goal is to move out of my 1000 a month apartment and find a roomate to split rent with so I can save more for my house. And pay off my college loans as fast as I can. Once I have 10,000 saved I will start looking for fixed mortgages that only require like 5% down. Here is hoping the market is half decent when I am ready to buy!