So, I bought a house. The rent for my townhouse which I love went up $400 in a year… Although they could only increase my rent by 3% because of the rent control if I am going to pay this kind of money I better pay it for my own place. I got lucky to get a house on a second try. I had to switch realtors as the first one refused to look at the houses within my range. Not only that, but she put an offer on one without consulting me on the price I was willing to offer. I almost bought that house but in the end, because I literally could not sleep at night worrying if I will be living only to pay the mortgage I pulled my offer after which my first realtor proceeded to scold and shame me. There are also few things that she did not bother to tell me one being the fact that you set your own closing date. For me, it was important because I do not want to pay an astronomical fee to break the lease. Anyhow, I ditched her and hired a friend of a friend who turned out to be excellent.
The house I ended up getting felt good (for both me and my realtor) when we went there for the showing. It’s a small condo (apartment really) but it is in the area I wanted to stay in (where it is impossible to find any house for sale as it is a great area full of parks, sidewalks, and very well kept-up so everyone wants to live there) and affordable so that I can keep up my current lifestyle and even continue saving some money although for a year I would be paying off the credit card I am living on right now to free cash for downpayment. I did not lose sleep over that one and it feels like the right decision. And it’s a two-bedroom meaning that I can have a studio that will double as a guest room. I am not looking forward to moving though. I hate moving with passion but who does not. However, I am already arranging my new house in my mind. I think I got lucky because it was Labor Day weekend and a lot of people were out of town so there was just one offer which I beat comfortably.
It is almost impossible to get an offer in nowadays. People are bidding 10K to 20K over the asking price (even with cash) and it all happens immediately after a home goes on the market. Real estate is out of control and prices are rising exponentially every year. Something that was 119K two years ago is now 250K if you are even lucky to find a condo at that price. However, the interest rates are low so it is also a good time to buy.
The condo is all that I could afford but I don’t mind. The only downside is that I am losing the garage. I got spoiled with that. But the parking space is literally 20 feet away from my future door. My condo HOA includes garbage, water/sewer, and internet. So, even though it is a little high ($300) because it includes all these things it is actually low in the end. The sewer alone is on average $100 a month not counting other utilities. Plus a gym and a pool. So I am stocked.
I feel lucky and excited even though I have to do some minor repairs for which I received $1000 towards my closing costs. The repairs won’t cost $1000 so I am taking advantage of that offer. Every amount helps. The most exciting thing is to figure out which room will be a studio and which is a master bedroom. I can write more and more about this development because I am ecstatic but won’t bore you with more details.
I cannot believe I will be a homeowner!
