August 13, 2008


My husband and I are getting serious about making the commitment to buy a house next spring. This is very scary to me, the commitment, the what the hell will happen to us if one of us loses our job and we can't afford the mortgage? I know, I should be confident in God to take care of us but what if we in our stupid human brains run off and get a mortgage and that wasn't God's plan? You think there will be a warning sign like we can't get a loan or can't find a house?

A loan, there is a big hurdle. We're going in January* to talk to a lender and see if we even qualify. The good things we have going for us is that it's a buyer's market and we're first time home owners so there are all kinds of incentives going on {money (for down payment/closing costs), specific types of loans...}. *Jan because our rental agreement isn't up until March 31st and we're not breaking our agreement which is 1 month rent - we're not giving them any more money then we have to.

I figured this would be our starter home that we're in for 5 years maybe have 1 kid in and then hopefully be in a situation to upgrade homes. Last night i found out that my husband wants to find one we can live in for at least 10. I have never planned so far into the future, it's scary!

Then comes finding THE ONE - our requirements for us to live in a house for 10 years:
  • 3 bedrooms
  • 2 bathrooms
  • at least 1400 sq ft.
  • backyard big enough for 2 dogs
  • affordable property tax
  • good neighborhood (no ghetto)
  • good schools (maybe, who knows, if we have kids they may go to private school but in case they don't... )
  • closer into town (no 45 min. job commute - of course this is never guaranteed)
  • as a bonus we'd love to have the bungalow style home.

Can we get all that for no more than 215,000? I guess we'll find out.

1 What do you think?:

rhon said...

A couple of suggestions:

In Dallas, there was a free class offered by the city on looking for your first house. It was to help out lower income families but anyone could take it. It was two days. The first day was about the step by step process, loop holes, and warnings about things that could happen in the paperwork.

The second day we toured a HUDD home where we were to do basic home repairs. The tour taught us things to look for (rooms added on that didn't have vents, home repairs done by "Uncle Leibo" for the price of a six pack, etc.) He told us to turn on all water faucets and let them run while you're in the house and flush all the toilets.

Drive in the neighborhood on Friday and Saturday nights to discover is you have partying neighbors. Also drive to and from the house during rush hour. You may find bottle necks that aren't apparent during the time of a showing.