Monday, March 9, 2009

Buying a House

Chris and I are very seriously thinking about buying a house. The foreclosures and stimulus and the current economy are all good things (if you can say it like that) for first time home buyers such as ourselves. Every time we leave the house Enzo asks if we're going to go out and look are MORE houses. It's starting to get a tiny bit exhausting looking at so many different places and thinking about all the possibilities.

For those of you who own a home can you give us some advice on things we should think about before we make a commitment on something so huge?

The picture above is the house we ( me mostly) are currently most interested in. Yesterday I fell in love with this tiny red house we saw in the middle of the woods. All redwood with a beautiful deck but so totally out of the way and so hard to find that we ruled it out. Whatever home we buy we just might have to paint it red.


Pamela Palmer said...

Steve and Adam are concerned that you won't be staying long enough, that when you need to leave and want to sell, the prices will have gone even lower and you'll lose money. Nice trees. My concern is that you won't like being in an out of the way place, especially if it's a fixer upper and Christian is always working on it leaving you to take care of both kids.

Pamela Palmer said...

What I meant is, nice trees though and cute house. You've probably considered those risks, right? My position is that since it's your stewardship, you can be inspired about what is best for you.

Damaris said...

Valid concerns pammy. This house in the picture is in great condition not a fixer upper at all. Everythings is pretty much brand new. The only thing is that it's on a hill (HUGE hill) so I would do a lot of climbing. The location is great too. I'm walking distance to down town Ben Lomond which is cute and pretty happening. I could even walk to the super market unlike now where we have to drive every where. Plus it's really close to a huge park and another co-op preschool.

we're between this house and one that is a total fixer upper but we'd be Musi's neighbor (walking distance). I don't think I would like to be in a fixer upper especially if we are all living there including my mom and I have a new born. It does sound miserable. but it's also nice to think that our monthly payments would be between $600-$800 which means that even when we move I can do anything and make $600 a month.

we'll see. We;ve been praying and fasting (christian not me) about it and I'm starting to feel better about the whole thing.

The good thing about this process is that I already liked where we live and now I like it even more. I mean, check out our high celings and all the storage space we have.

If anything, this experience has taught us A LOT about houses, loans and realtors. so if anything, we'll be better prepared for the future. It has also taught me to not diss what you already have because there are houses out there that are small and really beat up.

Damaris said...

ps- Maybe having a house would make us stay here post graduation...which I'm o.k with!

Jesse said...

If you think you can make it nice enough, I think having a smaller monthly payment would be a good thing. It would make it a lot easier to make it work as graduate students.

Mariko said...

Where's the link to this house so we can see more stats? Is this one you showed me before?
$600-800? Is that with insurance, mortgage insurance (different, yes), property taxes, etc? Or is that just base mortgage?

Damaris said...

base mortgage w/o insurance. he's the link to the cheaper house next to Musi with the clandestine bedroom downstairs which makes it a bit bigger than they advertise.

A LOT of these houses have a grow room set up (marijuana biz). If only we sold pot we could totally make our mortgage.