Tag Archives: fha

Big news!

14 Oct

So I bought a house.
I had been thinking about buying a house for about a year. I spent all summer looking online for houses, cruising through many neighborhoods, and checking out open houses. About two months ago, I made an offer on one that seemed to be promising and I had convinced myself was the one for me. That one fell through. I was a little bummed and had told myself maybe it was time to take a break from trying to find a house and that maybe the time wasn’t right. Just two days after I had decided this, one of the neighboring properties (from the one that fell through) was listed. It was perfect! A charming one story house with three bedrooms and two bathrooms, a garage, a big backyard, and a fireplace. I already knew the neighborhood was a good one, I was thrilled. I wanted this house, badly.

After a little negotiation between both realtors, the offer was accepted. I knew what amount I was going to put towards my down payment but I had no idea how expensive everything else would be! I felt pretty lost throughout the process but was lucky that my realtor and the loan officer were both very supportive and answered all the questions that I had.

Here are some tips for any other young professionals that are thinking about purchasing a home:

1. Save, save, save. Seriously even if you think you have estimated everything and budgeted correctly, save more. Closing costs are always higher than anticipated. There is also the cost of moving, turning on new utilities, and any other renovations you want to do.

2. Use your network. Ask the people you know for referrals for painters, gardeners, movers. It’s easier than searching online and saves you tons of time trying to find someone “legit.

3. Think long term. Unless you plan on living there forever, don’t make major changes to the house. Customize it to your liking of course but also keep in mind that not everyone likes the things you like and in the event that you want to sell that house in the future, it will be easier to resell something that isn’t totally custom to you.

4. Don’t worry too much about the “look” inside. Walls can always be painted and floors can always be redone. Focus on the stuff that can’t be changed (at least not in a cheap way), pay attention to the foundation, the roof, the basic floor plan .

Hope this helps!