Buying a home, exercise in stress/time management
Invite your friends over, pour a couple drinks, have a seat together in the living room for a general, but more serious discussion about stuff in general.

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Neo
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Buying a home, exercise in stress/time management

by Neo » 16 Apr 2015, 17:32

I posted about it briefly in my journal, but the wife and I decided to buy a home at the end of March/beginning of April. By the end of the second week of April, we'd already put out half a dozen offers. We visited a final house on Friday afternoon, put an offer on it shortly after, and were accepted that evening.

That whole week was constant emails, notifications, and house listings, followed by driving all over the place to view them, and debating price/offer/value comparisons. Late night phone calls, offer letters to sign, and lending qualification information to gather/send.

This week, it's all about acquiring home owners insurance with a 13 year old roof that may or may not get insured. I don't know what that's going to effect, or cost. There is also painting the house, and moving our stuff and all the money we'll have to spend up front to close on it.

We don't have near the amount I thought we would, which is why I didn't actually plan on buying a house once I lost my job in September. But the the lease coming due, and our plan to start having children in September, we didn't want to have to be birthing next June when our lease would be up again, and we didn't want to have to extend in another year, and then move with a 1 yr old who has a ton of gifts from everyone.

So this is the time. Insurance, warranties, possible repairs, closing costs, services, and movers. All our savings will be gone.

And then there are the numerous deadlines to keep up with, and phone calls throughout the day, emails coming in from people I've never met, and making decisions on things I've never had to consider before.

I'll be glad when it's all done, and we can start a new routine. There's one thing I do know: Google Glass has been tremendously helpful in all this. I've got the ability to hold a conversation, look up emails, and get directions at the same time just on that device alone...not to mention the fact that my hands are then free to drive, use my phone, or work on the computer.
"Because I choose to."
[[Neo]]

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DMoney
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Re: Buying a home, exercise in stress/time management

by DMoney » 16 Apr 2015, 17:57

Man....another post that's perfectly timed with my life! Our loan is currently in underwriting; we're trying to close on a house by Monday or Tuesday of next week. We've honestly been fairly lucky with our whole process so far. Yes, it's been stressful, with lots of calls, emails, and signing, but for something as stressful as buying a home, I feel like ours has been pretty awesome. Hopefully your stuff goes a little smoother and you'll be able to find some insurance. If not, they may not be able to sell that house without repairing the roof unless they find an investor or someone who wouldn't need insurance at closing.
-D$
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Pam
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Re: Buying a home, exercise in stress/time management

by Pam » 16 Apr 2015, 20:30

First off, let me say congrats and how excited I am for the both of y'all!!! It is such a good feeling knowing that you are not just throwing away money as rent, and that you have a place that is really yours!

Second, I don't envy what you are going through at all. Lol. 2 years ago I bought my first home. It was a crazy experience, but I had no idea what I was getting in to. Why doesn't anyone warn people about all the paperwork and every tiny piece of information that these people are going to need? And then the fear that up until you finally sign those closing papers, ANYTHING can happen, and your dreams crushed in an instant. I was so worried that something was going to go wrong the whole time, especially when they barely got me the final loan numbers the day before.

To both of you, good luck. And...I can't wait to see your new homes!!!

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Neo
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Re: Buying a home, exercise in stress/time management

by Neo » 16 Apr 2015, 20:38

Fortunately I have a kickass realtor who doesn't smurf around. And it's a mother daughter team, so if they both can't be there, then at least one of them can. And then they "have a guy" to handle anything we need, since they've been in the business for 30+ years. The worst part of all of it has to do with the insurance. I hate dealing with insurance, because the salespeople try to play on the what-ifs, and aren't very realistic...where my realtor is very matter-of-fact "you're gonna need to do +5k on this offer...don't offer on this, it won't appraise..." She knows the neighborhoods, and knows her smurf-poo. It wasn't until the insurance where I feel like I'm being punk'd.

Also, thank you. Hopefully I can have people over to this place once everything gets set up, since tsn is coming back. Maybe there can be lan parties.
"Because I choose to."
[[Neo]]

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Pam
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Re: Buying a home, exercise in stress/time management

by Pam » 16 Apr 2015, 21:01

Yeah...I keep wanting to have you all over, but I don't think you would want to come all the way out to Greenville. It's just so far!! *sniff sniff* But you all are always more than welcome to come and visit!

A LAN party sounds fun. It's definitely been a while. OOh OOH OOH!!! Come and play Rock band with us!!

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Neo
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Re: Buying a home, exercise in stress/time management

by Neo » 16 Apr 2015, 21:11

I also have rockband and guitar hero, and a 60" tv. It'd be a regular old Tyler-style lan party.

Greenville is actually closer to me than your old Fort Worth place was. I'm still in Plano, just moving right across the highway around Legacy & Alma.
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[[Neo]]

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Pam
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Re: Buying a home, exercise in stress/time management

by Pam » 16 Apr 2015, 21:16

That is actually not too far from us. Cool.

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DMoney
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Re: Buying a home, exercise in stress/time management

by DMoney » 16 Apr 2015, 22:03

I am definitely ready for another LAN party. Although I haven't been playing games in quite a while. We should just take turns hosting LAN parties at everyone's new (or old) houses. Great way to spread the traveling around, give everyone more opportunities to meet/see friends, and make it easier for some people to make it to some parties.
-D$
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Pam
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Re: Buying a home, exercise in stress/time management

by Pam » 16 Apr 2015, 22:35

That sounds like lots of fun!!! I can host the first one!!!!

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DMoney
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Re: Buying a home, exercise in stress/time management

by DMoney » 16 Apr 2015, 22:44

....lol. Neo should definitely be the first one. You know....creator, brand new house, "the one" who made all this happen.
-D$
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Neo
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Re: Buying a home, exercise in stress/time management

by Neo » 16 Apr 2015, 23:08

I could totally do the first one, maybe as early as June... We've got to get everything moved in and unpacked first, before I can do ANY lan party...even if pam went first.
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Neo
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Re: Buying a home, exercise in stress/time management

by Neo » 22 Apr 2015, 20:39

We just found out that the sellers are going to put a whole new roof on the house - and give us money in closing credit to get the windows replaced.

The roof replacement dropped the insurance premium by 40%!

Tomorrow is the end of the closing period, and then next thursday is the closing day. We're ready.
"Because I choose to."
[[Neo]]

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Pam
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Re: Buying a home, exercise in stress/time management

by Pam » 22 Apr 2015, 22:32

Woohoo!! Congrats, Neo! That is awesome that they are going to replace the roof! And give closing credit!! And 40% drop for insurance is super exciting!

Plus, you'll be closing on David's bday!!! YAY! LOL. I can't wait to see your new home!!

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DMoney
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Re: Buying a home, exercise in stress/time management

by DMoney » 23 Apr 2015, 18:21

Congrats! We just found out today that we're closing on the 30th. :D We got a really nice deal when the appraisal came back for $15k less than what the seller was asking for. When we got that and counter-offered the appraisal amount, the seller accepted without trying to get anything else on top of it (we were ready to pay a little bit higher depending on what they decided to counter with). WOOHOO!!!
-D$
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Neo
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Re: Buying a home, exercise in stress/time management

by Neo » 23 Apr 2015, 20:17

DMoney wrote:Congrats! We just found out today that we're closing on the 30th. :D We got a really nice deal when the appraisal came back for $15k less than what the seller was asking for. When we got that and counter-offered the appraisal amount, the seller accepted without trying to get anything else on top of it (we were ready to pay a little bit higher depending on what they decided to counter with). WOOHOO!!!
That's different advice than what our realtor gave us. From her, she said we don't want to overbid what we think the appraisal would be by more than what we're willing to pay in cash to cover the difference. Maybe she wasn't interested in trying to counter-offer, since investors would not counter and would pay cash to get whatever they can.

That's awesome that you got to save 15k on your price though...and the bump in closing date. Looks like we'll both have a house on the same day then!
"Because I choose to."
[[Neo]]

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