It was meant to be, says the masochist!

So I decided to buy the house. For better or worse, I would committ at the very least the next two years (to avoid capital gains taxes) of my time and money to this place.

I put in an offer. It was rejected. This house was for sale for over a year! Was my offer that insulting? It turns out that the people were about to foreclose and had listed the house at the very lowest they could take for it (subject to short sale). Since they still owed about $20,000 more than the listing price, this was the lowest the bank would take for it. Not to mention they would foreclose in about two weeks so my dates weren't even a possibilty for them.

My realtor panicked. I panicked. Could I get my loan and close the sale in two weeks? I was originally hoping to move in June or July! So what does a smart person do when they see the cards stacked against them. They find another house.

I went for it.

Everyday was something new. Would it pass the inspection? Did I want it surveyed? Would there be a problem with the title? Could I get the loan in time? What is an escrow account? Gee, that is a big crack in the foundation... Do you think the house leans a little to the right? How much radon is too much radon? Does electricity really need to be updated after 80 years?

I am now the owner of a 1905 Arts and Crafts bungalow. This particular house belonged to the town's first doctor. I bet he wouldn't even recognize his house now.


Could I be an old house person?

My first post probably should have been in January when I started looking at purchasing a home. After driving by a small house for sale in a town east of where I currently live and listening to yet another night of my neighbors arguing in the apartment below mine, I decided to make the plunge into home ownership.

Since I have lived in the same city for about eight years, I probably should have started looking a long time ago. You just never feel like you are going to stay and nothing has really felt like home up to this point. Unfortunately the city I live and work in is far too expensive for a single person to buy a home, so I immediately looked to nearby towns. I wanted something modest in size, but preferably with a larger lot (as large as you can get in a city anyway). I could afford a condo or town home, but really wanted a house. That left my search limited. Although I was approved for much more, I gave myself an artificial cap and set out to see houses in that price range. Much to my disappointment, I looked at houses that were next to railroad tracks, less than 400 square feet, 30 miles from work, and in one instance, right next door to a plague-ridden trash pile. I finally found a house with potential, but it was built in 1905... Could I be an old house person?

I have always liked old houses. I have always liked hardwood floors. I have always wanted something that I could decorate to my tastes, but would this the money pit everyone said it would be?