Tuesday, March 27, 2012

unexpected grown-up decisions

A few weeks back I mentioned some life-altering-big-decisions we're trying to make. Now that we have the ball rolling, JP said I could clue you guys into the sitch.

We're trying to buy a house.

Let's just take a moment to let that sink in. Jon and I, self-proclaimed forever renters, are seriously pursuing (and putting in an official offer tonight!) a house. A little back story: with our lease ending June 1, we were searching for rental houses. We had decided we wanted to pursue a house because, though we love our downstairs neighbor, she loves to vacuum late into the night and her dogs love to bark during the day. With a baby on the way, we didn't want the babe to be disturbed nor did we want the babe to disturb her through our paper-thin walls. After lots of searching we realized we simply can't afford a nice rental in a safe neighborhood because the monthly rent was upwards of $900/month. For giggles we looked up a few home sales and crunched the numbers and realized it would actually cost less per month than we pay currently to just buy.

Looks like my compulsive need to save has paid off for us because within a respectable (albeit not huge at all) price range, we can afford a 20% down payment.

After looking at several houses and a few disappointments along the way, we found what could very well be the one. It's an adorable brick colonial in an even cuter neighborhood within walking distance of a few parks. It's got hardwood floors throughout but the basement needs some attention. The big downside is there is no central air/heat (just steam heat and NO air) but we can make due with window AC units until we can afford a nice AC upgrade. We were waiting to put an offer in on this property until Jon's dad and two of our friends (shout-out to Papa Barnes and Scooter for acting, as our Realtor put it, as "the most thorough inspectors I've ever seen!") could take a look at it this morning. We were concerned about some water damage in part of the finished basement but their verdict was that structurally the house is solid, it just needs some drainage attention.

So Jon signed the papers. And then in a few hours I'll be signing papers. Then we will put in our first offer on a house ever. It's a foreclosure so we aren't sure what to expect. We're offering a couple thousand below list price but are willing to bump it up a little if necessary. All our eggs are in this basket. If it breaks I'm not really sure what our plan B is yet. So be prepared for the ups and downs of this process spilling over into this little space...

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