Author Topic: Home Buying (Read 5678 times)

YourMathTeacher · « **on:** April 21, 2009, 10:45:45 PM »

After 40 years of life and 15 years of marriage, I have decided to try buying my first home. The time seems appropriate with home prices dropping, interest rates dropping, and the $8000 tax credit from the Stimulus Bill. Please pray that I will make wise choices while trying to follow God's leading, even if God says "Forget about it."

I would welcome any advice from those of you who own or recently purchased homes. I can do my math, but I don't always know the vocabulary.

Thank you in advance for your prayers even if you don't have time to post.

777Godspeed · « **Reply #1 on:** April 21, 2009, 11:08:00 PM »

Shop, shop and shop. The "right" home can be found. My wife and I looked and looked and looked and then looked some more until we found our home, actually my wife found it and then convinced me to take a look. I was tired of looking at houses and was going to take a break from house shopping. Fortunately, I have learned to listen to and tune into my wife's wisdom and it has been well worth the investment on my part. We have been blessed with a wonderful home for the past year and a half now.
We will definately be praying for you at this awesome, yet sometimes intimidating, time of decision making on a home.

Godspeed,
Mike

Alex_Olijar · « **Reply #2 on:** April 21, 2009, 11:14:52 PM »

I don't know much about Home shopping, but I did watch HGTV last night.

On a serious note, I know enough to avoid offering on the first house you see and fall in love with- too much emotion can lead to you ending up with a bad deal. Good luck.

Sean · « **Reply #3 on:** April 21, 2009, 11:30:10 PM »

I would consider using a self employed relater who knows the area well. My family has used the same guy for as long as I've been alive and we've lived in 3 houses, all of which we own(ed). I suggest that because they know the business better and without being a part of one of the major realty companies the cost is lower but the service is probably better because it is more personal.

Another thing to consider is to look for fore closers. These can often be cheaper. The catch is that you will probably face the cost of repairs and also need to get new major appliances. Fore closers are also very difficult to bargain because there is just a line of people waiting behind you to buy it.

EmJayBee83 · « **Reply #4 on:** April 21, 2009, 11:41:40 PM »

YMT, my wife and I have purchased three homes--and there is one huge thing to beware of.

When you purchase a home, the realtors, mortgage folk, bankers, and everyone else will start talking about how much house you can afford. Before you go out with those people you and your wife need to go through your expenses and figure out the number you are comfortable with paying on a monthly basis, and then raise the whole thing up to prayer and ask for confirmation. There is usually a huge gap between what you can afford and what people will tell you to that you can afford..

I'll be praying for you during this process.

crustpope · « **Reply #5 on:** April 22, 2009, 09:50:30 AM »

with MJB. Know before you go out how much you can spend and know how much you want to spend. There is a big difference. Im not sure how the lending market is today but when I bought my house the lenders tried to talk us into a loan nearly twice as big as the one we eventually settled on.

also, im not sure how good you are on home projects and such but buying a house that has "potential" is better (IMO) than buying one that is all put together. You can add value to the one with potential, often just by doing some minor projects (such as landscaping or instaling new flooring or painting)

also do not forget the hidden expenses of buying a home...such as buying a lawn mower, appliances, other utility bills not overed by your landlord, extra energy costs to heat/cool a bigger space. etc.

YourMathTeacher · « **Reply #6 on:** June 06, 2009, 07:30:08 PM »

Just to update, we are still looking for a house. We have made several bids that were all rejected, presumably because of higher bids. We were forced to move up the limit of our purchase price to have more opportunities. We saw one today that is a dream house, but several "dream houses" have slipped away already, so we are skeptical. This one is even better because it comes completely furnished. It was a former vacation rental home near Disney. Pool & everything.

I don't want to be selfish or unreasonable in my expectations. My wife is trying to convince me that I just need more mustard seed faith. The lower priced homes that are available will require a lot of work and money just to make them move-in ready. I'm not handy enough for a fixer-upper.

We'll see. $:-\$

MrMiYoda · « **Reply #7 on:** June 07, 2009, 10:35:22 PM »

Quote from: YourMathTeacher on June 06, 2009, 07:30:08 PM

This one is even better because it comes completely furnished. It was a former vacation rental home near Disney. Pool & everything.

We'll see. $:-\$

Long Island shall be praying for this ONE!!!

YourMathTeacher · « **Reply #8 on:** June 08, 2009, 12:50:52 PM »

Quote from: ReyZen on June 07, 2009, 10:35:22 PM

Long Island shall be praying for this ONE!!!

FYI, that house somes with two Master Suites, each with a private bathroom. It's all yours when you come to visit.

YourMathTeacher · « **Reply #9 on:** June 09, 2009, 07:06:52 PM »

Well, our bid was accepted on the dream house. We have 5 days to inspect and then decide whether to sign the final contract. This house was a true provision of a Mighty God if the details work out.

Thank you to all who prayed on my family's behalf.

TechnoEthicist · « **Reply #10 on:** June 09, 2009, 07:12:16 PM »

excellent news Tim! Does this mean if I go to the American Eval Assoc. conference in November, I have a place to stay

?

YourMathTeacher · « **Reply #11 on:** June 09, 2009, 08:12:39 PM »

Quote from: TechnoEthicist on June 09, 2009, 07:12:16 PM

excellent news Tim! Does this mean if I go to the American Eval Assoc. conference in November, I have a place to stay ?

In all seriousness, yes. I would not be foolish enough to assume that God has given me such a tremendous blessing except to be used for His purposes. Because this particular house has two Master Suites, it is ideally suited to be offered to friends & family. If you know the exact dates, then PM them to me. I will of course have to make sure that any family trips are covered, but if noone else claims the dates, you are free to be our guest.

YourMathTeacher · « **Reply #12 on:** July 20, 2009, 11:17:00 PM »

Just a final update:

I'm a homeowner!!!

I closed on my house this past Friday. Since the home came completely furnished we were able to stay in it immediately. We had the pool water tested and added the necessary chemicals, so we were swimming by Saturday night. I also tested the Jacuzzi. Ahhhhhhhh, it works.

I am grateful for all your prayers as this was a true blessing above and beyond all I could have asked for. God still provides miracles!

There are still several homes like mine for sale in my area, if anyone is interested in moving to the Orlando area. Relatively low cost of living. There are teaching jobs available - three in my school!

Here are the specs:

$135,000
5 Bedrooms, 3 Full Bathrooms, 1700 sq. ft. (not including the two-car attached garage)
2 Master Suites with private bathroom
Fully furnished with all new Maytag appliances
12,000 gallon heated inground pool with elevated six-person spa
Fully screened pool/patio enclosure to keep out the bugs
Automatic irrigation system with roof-mounted rain detector (only waters the lawn when it doesn't rain for a couple days)
8 miles from Disney
Built in 2000

My offer still stands from my previous posts:

If you are visiting the Orlando area and you need a place to stay, just PM me. You would use one of the Master Suites that has a Queen bed and a Twin bed, closet and dresser, and a private full bathroom. You'll get to enjoy our pool & spa during your visit!

God does not provide such a blessing without a purpose. We offer our home with no compensation expectation. If you know of missionaries who need respite, or you are just planning a family vacation, please feel free to contact me. I do have to avoid double-booking, so the sooner you can email me the better.

Praise the Lord!!

Alex_Olijar · « **Reply #13 on:** July 20, 2009, 11:23:35 PM »

Wow. That's such a great price. I would never expect that in a resort area. Congratulations. God has blessed you.

Cameron the Conqueror · « **Reply #14 on:** July 20, 2009, 11:28:55 PM »

Wow, that is amazing. Congratulations!

EmJayBee83 · « **Reply #15 on:** July 21, 2009, 12:40:48 AM »

Congrats, YMT.

crustpope · « **Reply #16 on:** July 21, 2009, 01:07:48 AM »

And I thought I got a great deal on my house. WOW! That is insane! Don't let the cops know you stole it at that price.

btw..are any of those jobs Social Studies Teaching Positions

Prof Underwood · « **Reply #17 on:** July 21, 2009, 10:17:42 AM »

Congrats YMT, I'm very glad to hear that God has provided so generously for you and your family. I'm also glad to hear your decision already to use your blessing to bless others. Keep up the good work!

Captain Kirk · « **Reply #18 on:** July 21, 2009, 10:56:11 AM »

Wow, praise the Lord! That is an absolute steal.

Kirk

STAMP · « **Reply #19 on:** July 21, 2009, 12:44:07 PM »

Praise the Lord, indeed!

Does your school need a Windows System Engineer?

YourMathTeacher · « **Reply #20 on:** July 21, 2009, 04:42:47 PM »

Quote from: crustpope on July 21, 2009, 01:07:48 AM

btw..are any of those jobs Social Studies Teaching Positions

Not at my school. There are two SS positions available in Osceola County - Kissimmee Middle School and Discovery Middle School. My house is technically in Lake County (the very bottom on the border of Osceola County), so you could check their website. Orlando is actually in Orange County, but jobs there will be minimal due to cutbacks. My house is also on the border of Polk County, so you can also check their website for openings. My home is located near what is called Four Corners because the four counties I just named all meet at a Cartesian Plane.

Quote from: STAMP on July 21, 2009, 12:44:07 PM

Does your school need a Windows System Engineer?

I teach at the Professional and Technical High School (PATHS) in Kissimmee, which partners with the Technical Education Center Osceola (TECO) to provide industry certifications for high school students looking to work in specific trades. Our Business and Multimedia Academy does have Windows classes for certification, but I don't know the specifics. The kids just say they have "Wireless" or "Microsoft" class, so I can't tell you what is available. I know that they were definitely hiring new people, though. Just search for TECO in Kissimmee online and contact them directly. I teach in PATHS only, which is purely core-subject academics.

SerpentSlayer · « **Reply #21 on:** July 22, 2009, 12:19:50 AM »

I just wanted to say CONGRATS!

Sean · « **Reply #22 on:** July 26, 2009, 04:49:33 PM »

Quote

Here are the specs:

$135,000
5 Bedrooms, 3 Full Bathrooms, 1700 sq. ft. (not including the two-car attached garage)
2 Master Suites with private bathroom
Fully furnished with all new Maytag appliances

That is crazy awesome price! How many years is the mortgage?

And congratulations!

YourMathTeacher · « **Reply #23 on:** July 26, 2009, 09:27:18 PM »

Quote from: Sean on July 26, 2009, 04:49:33 PM

That is crazy awesome price! How many years is the mortgage?

I did an FHA 30-year fixed at 5.5% with $4700 in total closing costs.

FYI, for other would-be first-timers, most states now will front you the $8000 tax credit so that you can use it toward your closing costs. You then repay the state when you get the refund from the government.

Since we already covered the closing costs, we get to use the $8000 tax credit for whatever we want. The first thing on our list is to build a privacy fence around our pool enclosure. Who knows, I may use some of that money to buy a set of Thesaurus ex cards.

Cameron the Conqueror · « **Reply #24 on:** July 26, 2009, 09:29:50 PM »

Quote

Who knows, I may use some of that money to buy a set of Thesaurus ex cards

The United States Government: Buying Redemption Cards.

News:

Author Topic: Home Buying (Read 5678 times)

SerpentSlayer