I think I need to form a home buying support group

Discussion in 'Teacher Time Out' started by JustT, Jul 13, 2009.

  1. JustT

    JustT Comrade

    Joined:
    Mar 21, 2008
    Messages:
    342
    Likes Received:
    0

    Jul 13, 2009

    The stress is so horrible, I hope I don't drive my realtor insane. I'm trying to buy my first home as a single parent on a teacher's salary with a small down payment in a location that is highly desirable. I'm mainly choosing this area because my children have been going to the same school and I love this city.

    I went on a journey to look at 6 houses yesterday and for what I can afford... most of the houses had one or two issues that I found difficult to live with. Every one of them gave me the feeling of redoing the carpet.

    Then I saw one, underpriced and awesome architecture... and the reason it is underpriced.... no appliances except a water heater and the carpet needs repair badly from pet usage. However, with two parks nearby, newly built in the last 5 years, and kiddos can go to the same school, I made an offer but tried not to get my heart set on it.

    Can I tell you that I didn't get any sleep last night? This is extremely stressful. I'm thinking about the timing of my lease being up and furnishing this place on top of repairing the carpet.... seems like timing is everything.

    ok... I looked at a few more today just to break my attachment to that house. ... sigh can anyone relate?
     
  2.  
  3. smalltowngal

    smalltowngal Multitudinous

    Joined:
    Jan 2, 2007
    Messages:
    17,362
    Likes Received:
    46

    Jul 13, 2009

    :hugs: Sometimes you can negotiate a flooring allowance where the seller will pay/or take off from the sales price to pay for any flooring changes that need to be made.
     
  4. MrsTeacher2Be

    MrsTeacher2Be Companion

    Joined:
    Jun 9, 2008
    Messages:
    208
    Likes Received:
    0

    Jul 13, 2009

    I can totally feel your pain. DH and I are in the process of buying a house right now was well. We've reached an agreement with the seller and we're under contract, but all of the hurry-up-and-wait, paperwork, mortgage details, insurance details, packing, selling our mobile home, etc is just as nerve wracking. :crosseyed Good luck to you with your purchase!
     
  5. Hoot Owl

    Hoot Owl Aficionado

    Joined:
    Jan 15, 2008
    Messages:
    3,888
    Likes Received:
    0

    Jul 13, 2009

    I can relate too since we've just received earnest money back on a lake house. Things have to "feel right", not only with the house but also with the job.

    You can and should ask about an allowance on the carpet, be sure and negotiate closing costs, that's a big kicker and often a huge surprise at the end. Find out as much as you can before you go to the bank.

    Good luck Just T. And, remember too, you don't have to have it all done at one time. Don't get yourself in a financial bind.
     
  6. RainStorm

    RainStorm Phenom

    Joined:
    Aug 23, 2005
    Messages:
    4,376
    Likes Received:
    809

    Jul 13, 2009

    JustT,
    I can totallly relate to the "single buyer" issue. I bought my house back in 1989, so it has been 20 years, but I still remember the stress. When a couple buys a house, they can bounce ideas off of each other, talk about it, discuss it thouroughly. WHen you are buying it yourself, you are relying on yourself, and it does add to the stress. The decision is 100% yours, and there is no one else to split the stress with.

    However, buying a house was the best thing I ever did. I love being a homeowner. (Now there have been times -- broken boiler in the middle of a cold spell -- when I wasn't so enthusiastic about it) but I really do like having a place that is mine, mine, mine.

    Hang in there,and let us know how it progresses.
     
  7. Emily Bronte

    Emily Bronte Groupie

    Joined:
    May 28, 2006
    Messages:
    1,265
    Likes Received:
    11

    Jul 13, 2009

    I can totally relate too. I bought my first house last November. A year ago, I was house hunting just like you. My house hunt lasted until mid October. What I started doing was decreasing the number of houses I was seeing down to no more than 2 at one time. I found that after looking at so many at once was just not helpful and they all swam together after awhile. Is the house you put an offer on a foreclosure? You said that there were no appliances. This is common with foreclosures. If this is the case, you likely won't get any carpet allowance. It is frustrating.
     
  8. MrsHoot

    MrsHoot Comrade

    Joined:
    Dec 10, 2008
    Messages:
    436
    Likes Received:
    0

    Jul 13, 2009

    AGHGHGH I am aggravated as well! We put an offer in a long time ago. Like 50 days? Our closing date has now been set back a week and the bank is now saying we may have to do ANOTHER ammendment and do closing the week after. EVERY time we talk to the bank they need something else... and EVERY time they say oh yeah that day should be fine... and it's gotten pushed back 3 or 4 times. It SUCKS! I am just so ready to be done with the process, I want our house alreadY!! =) ------rant over.
     
  9. JustT

    JustT Comrade

    Joined:
    Mar 21, 2008
    Messages:
    342
    Likes Received:
    0

    Jul 13, 2009

    Thank you for all the replies :)

    Well, I didn't get the house. Emily, it was a HUD home where I think the original owners might have let the house go back to the lender. I'm okay with that because 6 more new listings today and they seemed to be in much better condition eventhough they are a few years older.

    Almost all of the houses I'm looking at is marked 'as is' and many state 'no seller obligations'. That appears to mean all the cost of repairs will be mine. On another note, there may be up to $7000 in city grants to help with down payment. :)

    MrsHoot, I think I may be joining you soon with waiting on the bank. I haven't gotten that far yet.

    I know many teachers in this city are a bit worried because of the numerouse houses going up for sale and forclosures happening. I don't need to worry yet because I teach in a neighbouring city and we are already at capacity at my school.

    Thank you, thank you, thank you all for the warm thoughts and bits of advice!:2up:
     
  10. KinderMissN

    KinderMissN Companion

    Joined:
    Jun 15, 2007
    Messages:
    133
    Likes Received:
    0

    Jul 13, 2009

    My DH and I are in the middle of this as well. We close the 27th of this month. We got an email from our realtor, relaying a request from the sellers to stay in the house a week after close and pay rent to us. Um, no! I want to be moved and settled before school starts.

    Anywho, done venting. I am so glad DH and I had eachother to lean on during this stressful process. I admire those of you who are homeowners on your own! JustT, my advice is this- don't get emotional about a house. Look at the numbers carefully, don't forget closing costs, property taxes, hazard insurance. Good luck!
     
  11. MsMar

    MsMar Fanatic

    Joined:
    May 16, 2007
    Messages:
    2,771
    Likes Received:
    53

    Jul 14, 2009

    Oh yes, I can relate. We put our house on the market end of May. Had an offer after about 2 weeks. Accepted offer. Buyer basically changed her mind and that fell through after 2 weeks. Got a new buyer shortly afterwards, but their realtor was super slow and now we should finally get an agreement of sale today (even though we were told we should have had it Sun or Mon;). We need this agreement of sale so that we can put in an offer on a house we really, really want. The waiting stinks.
     
  12. giraffe326

    giraffe326 Virtuoso

    Joined:
    Jan 2, 2006
    Messages:
    7,075
    Likes Received:
    15

    Jul 14, 2009

    Just don't settle for something that you are not crazy about.
    Last year, I bought a home by myself- also in a very desireable area (I could have purchased a 2300 SF house near my school for less than I paid for my 1200SF house).
    I bought a HUD foreclosure and primarily looked at only foreclosures. Some were in horrible condition! Luckily, I waited and stayed patient and found my home.
    And, with HUD, if the flooring is in poor condition, they usually let you finance the cost of replacement into the mortgage. Same with other serious repairs.
     
  13. Writer's Block

    Writer's Block Companion

    Joined:
    Jun 28, 2008
    Messages:
    209
    Likes Received:
    0

    Jul 14, 2009

    I think home looking/buying causes so much stress! It's fun to go into other people's houses (how in the world do some people choose decor like they do???), but finding THE house and buying it are very stressful!

    Good luck to you.
     
  14. MrsTeacher2Be

    MrsTeacher2Be Companion

    Joined:
    Jun 9, 2008
    Messages:
    208
    Likes Received:
    0

    Jul 14, 2009

    OMG, I've thought that about the decor too! It's amazing what you see when you go into someone's home.

    Last week our realtor took us out to several homes, and we got quite a shocker. We went to this house and there was no lock box. There were cars there so we knocked and rang the bell. No one answered, so we called the realtor who has the house listed. We'd made the appointment to see that house a week in advance, so everyone KNEW we were coming. Well we wait outside, in the 100 degree heat, for about 10-15 minutes until he gets there with the key. We go inside and the house it kinda cute, nothing amazing but not bad. My mother, who was with us, stopped me in the kitchen and said she thought it looked like someone was passed out in one of the bedrooms. Well we didn't really think anything of it, figured it was just pillows or something, right? I mean they knew we were coming, and surely if someone were there they would have opened the door when we rang the bell, right? Well DH and I open the third bedroom, and there were definitely two people in there, and I'm pretty sure they were, um, indisposed. :eek: WHO DOES THAT!?!?!? They had to know we were in the house; we weren't at all quiet. They had been just laying there until some random woman walked into their bedroom, and then they start going at it?!? Oh my. I was stunned.
     
  15. Writer's Block

    Writer's Block Companion

    Joined:
    Jun 28, 2008
    Messages:
    209
    Likes Received:
    0

    Jul 14, 2009

    We had wallpaper in the kitchen that I called the Willy Wonka Wallpaper...the fruit was so big on a thick green vine it was nauseating. I used to tell people if you licked the wallpaper, the grapes taste like grapes, and the pears taste like pears!

    We had to look completely beyond to see the potential.
     
  16. smalltowngal

    smalltowngal Multitudinous

    Joined:
    Jan 2, 2007
    Messages:
    17,362
    Likes Received:
    46

    Jul 14, 2009

    :eek: MsTeacher2Be
     
  17. KinderMissN

    KinderMissN Companion

    Joined:
    Jun 15, 2007
    Messages:
    133
    Likes Received:
    0

    Jul 14, 2009

    Ew. Just ew. I am shocked by your story MsTeacer2Be! That's just...ew.
     

Share This Page

Members Online Now

  1. Savannah Lynn
Total: 229 (members: 3, guests: 195, robots: 31)
test