House Shopping begins…
I knew it would be tricky to find a place but I didn’t think it would be this difficult.
We are so fortunate to live in a really cheap area of the USA that even with only one income source we can buy a house. It was also named one of the top cities to raise a family… the benefits can go on but for now it’s where my husband goes to school…
Things we are looking at before we buy…
– duration of stay to actually make it worth it time and money wise you should be planning on living there for at least 4 years.
-do you have enough saved up that if you lost your job you could still afford house payments for a at least 6 months?
– if you want less hassle and ease through the process get a Realtor so they can do all the calling and appointments for you. But it all comes at a cost.. (usually comes out of the cost of the house)
– research different mortgage brokers and their interest prices as well as their fees as there can be significant differences between them.
– get a pre-approval letter so you know where your budget is.. and of course you will be allowed more than you can afford so stay well below that price.
So this is our simple criteria for our perfect starter home…
– basement that can be rented out completely separate (help out mortgage payment)
– close to both work and school
– within budget of one person income (incase one of us loses our job)
Should be easy right?…but as usual we bump into a few issues
– most of the homes in our price range need a bit of extra work and some cases a lot
– location…too much in the ghetto so finding reliable tenant’s will be harder
But our quest is not over yet.. summer is nearly over but the cold winter months will hopefully bring in the great deals!!! So still going to keep up in the hunt!!
Stay tune for more updates on the home we end up with…