Baby steps

[piplover]

The other day as I was walking I came across this beautiful little house for sale right next to where I live.  So I contacted a distant relative who had given me her card when she came into the surgery a few months ago, and asked her for any advise she could give on how to proceed.

Well...

She's helping me home hunt!  She's a broker, and gave me the name of a loan agent she trusts and has worked with for years.  I left him a message today and hope to talk to him tomorrow.  She's also sent me several links to look at, and most of the houses I think are in my price range. I'll know more tomorrow.

But the best part? Since I'll be using a VA loan it will be $0.00 down, and she said that most times the closing costs are only $500.  At the most, around $800.  I can afford that!  So, the only thing now is to find out how much I'll be approved for, and then I can start looking in earnest.  I'm so damned excited!

And last time I looked into this, my mortgage would have been about what I'm currently paying in rent.  If I can keep it around that range, than even if something happens and I lose my job, my disability will cover the mortgage, so I won't have to worry about that.

I'm about ready to dance right now!  I called my mom and told her and she's going to go with me to look at houses.  We're both really looking forward to this.  I just can't tell you how happy I am.  Even if there are bumps along the road, which I'm sure there will be, I'm taking that step forward!

Yay!!!

Comments

[leeshy-poo.livejournal.com]

Wow that's awesome! You must live far away from me... dumpy houses here require 20% down typically and that's about $200K. :/ I think I'm going to rent forever.

[piplover.livejournal.com]

Ugh, that sucks! I think I'm only able to get it at the rate I'm hopefully going to get it at because I have the VA loan. Otherwise there's no way I could afford to purchase a house.

I'm very lucky to live in a pretty nice area, but it's older. A lot of the houses were built in the 40s and 50s. The ones I'm looking at are of those kind, so older and a bit out of date. But that's all right, because I love that kind of house.

Don't lose hope, though. You never know what might happen, and I hope you can find a house and a loan that will work for you. I'm just so tired of renting, and having to deal with other people's noise and smells.

[shirebound]

What exciting plans! I hope you enjoy your Quest. :)

[piplover.livejournal.com]

Thank you! It was amazing, looking at the houses! I think I found one, now I just have to wait to see if the money will come through.

[rereader.livejournal.com]

Wow!! That's really veerrrrrrrry exciting! Best of luck!

[piplover.livejournal.com]

Thank you! I'm so happy, I just can't say how excited I am!

[forcryinoutloud.livejournal.com]

Congratulations! That's fantastic! I'm so happy for you! *hugs*

[piplover.livejournal.com]

*Hugs* Thanks, hon. I'm so nervous and excited, it's such a big step, but I'm really happy, too!

[dreamflower]

Oh, sweetie! That's so exciting!

A couple of bits of advice to keep in mind:

1. Make sure you get an independent home inspector--do NOT use a home inspector recommended by a realtor! (Made that mistake!)

2. In an older home, be sure to ask questions about the wiring and electricity. The biggest expense the DH and I had when we moved into this house was the wiring--because the house was old, there were insufficient outlets and even some "knob and tube" wiring!

3. Don't be embarrassed to look at everything in the house. Open the closets, turn the water off and on at the faucets, look inside the fridge, see if the stove will turn on, etc.

4. Ask why the owners are selling the house. If they have to move in a hurry for some reason, you may be able to get the price down, or get them to throw in something extra. (The lady who owned this house really wanted to sell, and she threw in a few thousand dollars because the house doesn't have central heat/ac. She also allowed us to move in for a nominal rent for a month, until our own house closed.)

[piplover.livejournal.com]

Thank you so much for all the advise! I made sure to poke my nose into everything, and to ask about the wiring and plumbing. I forgot to ask why they were selling, though.

I did find a beautiful little house that I fell in love with, and I'm waiting to see if the money will come through. I'm so excited and nervous!