Ok, I started a new thread because I wanted to speak to the good home buying advice.
The good thing is this place isn't a Ponzi scheme:) It was built in 1986, the year I moved to town, and I have known many who have lived there. Ellie, I will definitely get a home inspection. Ex and I did that with the townhome we bought. A couple hundred bucks, well worth it, and everything was good, thankfully. I believe they also allow a certain percentage of renters too.
The other good surprising news.... my dad is no up on board he has been going nuts doing all the leg work. his cousin was a real estate broker in our area and knows all the right people and my dad got 2 mortgage brokers and spoketo them yesterday. The real estate agent has been servicing my area for 25 years. From what he gathered, I will be paying less than rent in total, including paying back the loan to my stepmother. I am not going to pretend like I can afford more than I can, I have a limit I refuse to go past.
The real surprising part is my dad is set on getting me in one in the next 6 months! Possibly before the end of the year! I was a little shocked, but hey, it would be great. I'm so grateful for their support. I've been moving so much, it would be great to settle in and call a place my home.
I'm going to do this the right way, with all your advice. Luckily my dad studies this stuff and I can trust him to guide me in the right direction. He's a very safe kind of guy when it comes to money so I can trust him.
Sounds good, but definitely check out the homeowners association finances. If it's a thirty year old complex, the roofs would be due for replacement for example.....you want to find out if they have already been replaced, and if so, when. If they've never been replaced, then does the HOA have funds saved to pay for that?
Also, btw, if the lenders suddenly see a large amount of money transferred to your account from your stepmom, they're going to want a signed letter from her stating that it's a gift not a loan. At least that's how it used to be many years ago,
Sit quietly, the answers will reveal themselves when you least expect them to. The past is gone, the present is a gift and you need to focus on today, allow the future to reveal itself when it is ready.
I agree with K about the roof. Usually roofs are good for 20 or 25 years. Also inspect the furnace air conditioner and water heater. I prefer bathrooms with windows and exaust fans. If you can get a 15 year mortgage instead of 30 even better. Think about relocating to where property taxes are lower. I think where ur they are high. I know I'm down in the pines but it's cheaper. And homes are are also less and u get more. There are several hospitals in the area. Just a suggestion
M 53 D 20 Separated 6/22/11 moved out 10/24 Together 26 yrs Married 16 W Filed for D 7/21/11 Served 9/6/11 D final 8/28/12
“Failure is not fatal, but failure to change might be.”
If I were in your shoes, I would invest in getting your own home inspector and have him/her do the inspection for you. I wouldn't rely just on the one that comes out before you purchase the home (usually the one that the homeowners have come in). Once they have provided a report to you, if you really like the home, then negotiate that the current homeowners repair the areas of concern or they can drop the price so that you can have the repairs done. There is always room for negotiating.
Sit quietly, the answers will reveal themselves when you least expect them to. The past is gone, the present is a gift and you need to focus on today, allow the future to reveal itself when it is ready.
Wow great advice from KML! Ellie how did you get so smart about purchasing a home?
How exciting that your dad wants to get you in within six months! I want to hear all about it tomorrow. Meet ya by the ice luge
And Job, I just wanted to tell you that I think you are awesome. I have been reading a lot of your posts recently, and have such respect for how you always know the right thing to say to people, and give so much of yourself. You are a true example of class, honor and dignity (CHD as UR would say ).
Linda
Me 65, Ex 64 M 38 y 2 adult S, 4 G-Kids MLC 11/07 BD 12/09 D 3/14 Dating nice guy 7/14 Engaged to nice guy 12/17
