In October, we found ourselves in an interesting predicament – our landlord told us that he was going to show off the place we were renting from while we were still in our lease. It came completely out of nowhere, and made us question the future of where we were going to live when our lease was up, which was January. At this point, we wanted to try and buy our first house. Please, don’t think that I hold any ill will to our landlord. He was just looking out for what was best for him and his property in an unstable market.
This left us in a world we were very unfamiliar with and barely looked into prior – finding and buying a home. This is our experience.
Unsure of what to do and where to start, we went to our bank and tried to get pre-approved for a loan. After all, what is the point of looking at places that you can’t afford? We started with what we thought we could afford, and were surprised with not only how easy it was, but also the monthly price with taxes figured in. It came out close to what we were paying in rent for a one bedroom condo!
The bank gave us a few names of people to help assist us in our goal, like Lee Gosney of Realty Executives. She helped steer us in the right direction after a brief consultation of what we were looking for in a home. Between our research on home listing websites and her recommendations, we found a home that we fell in love with. It only took a few weeks, and we felt incredibly lucky to find something so quickly. After a bit of negotiating, the seller accepted our offer and the process of becoming a home owner began.
The first thing we did was contact a home inspector, which led us to A Closer Look – Home Inspection. We set up an appointment and we were ready to go. Both my wife and I were unable to join him during the inspection, but it went on as planned. It felt like we were walking on clouds, a feeling that was indescribable. When we received a call after work when the inspection was done, the clouds were pulled from underneath our feet and we were quickly brought back to reality.
The foundation had serious problems, water was coming in through the chimney, creating mold in one of the bedroom closets. There were likely other structural issues that we would have never even seen being so new in the home market. It would have cost tens of thousands of dollars to repair all of it. Even worse, that money would not bring us any return on investment, and would have likely put us into debt. I cannot stress how important it was to have a good home inspector to let us know up front.
The letdown came as a shock, which led to depression and uncertainty. We began to wonder if we would ever find a home within our limited budget. But we pressed on, and the following weekend after we withdrew our offer, we ended up finding two homes that we loved! It was a solid turnaround we weren’t expecting so soon after our recent failure.
We inevitably bid and negotiated on a house in Ulster County, which one again, the seller accepted. We were not optimistic yet, because we saw how quickly things can change after a home inspection. While the house had its fair share of issues, they paled in comparison to the first home. Plus, they were all fixable and the seller agreed to fix them before we bought the house!
Then came the difficult part, the wait. There was nothing harder during the home buying process than the wait. We wouldn’t hear anything for weeks at a time, and that uncertainty began to creep forward again. My advice to you is that if you get to this point, no news is good news.
The appraisal came and went without issue, and we finally got a date set to close on, March 7th in the morning. We were able to get a one month extension at the condo we were renting at, but that only lasted until the end of February. We had to move in with my parents for a few weeks while we waited for the big day.
And now here we are, in a place that we can now call our home, and best of all, it is ours! I want to thank everyone who helped us, whether it be moral support or advice in what to look for, and everything in between. I hope you, the readers, didn’t get too bored in my absence. Remember, I got a whole new camera set up that I am just dying to use from selling some of my stuff during the move!