From our first apartment to our first time buying home!
If you don’t already know we got married in the middle of a pandemic that will go down in history(2020) and then 3 days after our wedding moved to another state. We packed whatever fit in our cars and drove away to our next adventure.
Our goal was to buy a home right away but that was not possible for our circumstances so we rented a small cozy apartment and that was our first home. In 2021 we started looking for a home and we bought our first home in January 2022. Yayy!
Buying a house in a crazy market and in the midst of an inflation and interest rates are to the moon is not an ideal time to buy. It’s definitely a sellers market.
Thankfully we had a great team helping us out!
Buying a House In a Crazy Market
- Many people will tell you the many ways you can get a house whether it’s though tik tok, social media, people you know and it’s all great advice in the end there a limitations and rules that will either work against us or for us. For us we needed to pay off some debt and more money of course.
- Interest rates are reaching a peak that it’s making it impossible for anybody to buy. Even though it would be the same as renting someone else’s place.
- Our realtor and loan agent were a wonderful help. I think we talked to them about every other day during the process. It took at least 2 months! …. to close.
- We Narrowed our options according to our goals and location. We were looking for an investment home.
- Do the Research! Doing the research more than once can help to reassure you what the best option is.
BEFORE VS AFTER
Our accent wall in process. This will be our art gallery wall.
We got a 80s home so we went in knowing we were going to have to update some things here and there. Here are some things you might want to keep in mind in buying an older home..Some of things were:
- Painting…we want a more eclectic style
- Closets… they’re basically the size of a door…smh
- Carpet… the carpet it came with was dirty and smelled like wet paw prints
- Kitchen…the kitchen has a wall disconnecting the dining area and kitchen so we need to cut that down
- Tile… bathroom tile was outdated
- Electric Panel.. Super out dated and needs to be replaced to fit the living standards
- Water Filter.. for all faucets
- Plumping pipes… plants can be rooted in our pipes may be rusted
Change?…. Risk….? I believe these 2 go hand in hand with the meaning and what it takes. Whether you wish to buy or not there are pros and cons. Buying a house may not be in every ones goals because it may sound so daunting at first.
The risk I saw in staying the same in an apartment even if the world was to end tomorrow was far more painful than making the leap to buy a home for almost the same monthly pay.
Buying a house in this era doesn’t mean you have to have a family or have to stay put in once place. Being creative with finding options is the first step to freedom.
BEFORE VS AFTER
Moving is a lot of work.. thankfully we didn’t have much because we wanted to move. We were not ready for the expenses that came with it all but we learned to adjust and level up because now we have created a new standard.
What To Know Before Buying
It’s a roller coaster for sure! You also need to kmow where all your paper work is! The lender will ask for it last minute and it can take a long time.
- You’ll need your recent 30 day bank statements
- Buying a house is easier when your debt to income ratio is 1:2
- Furnishing can get expensive if you dont already own furniture but its fun to decorate!
- Make your relator and lender your go to peeps to help you with everything. If they don’t help replace them.
- Look at tons of homes before buying so you know what to look for.
- Know your end goal. Is it a family home, forever home, or rental
- Have money saved for a rainy day
Nothing in life is easy, that’s why it’s said that you get what you work for.