You know those blogs that you’ve been so excited to write? This is mine! WE BOUGHT A HOME!!!
There are so many emotions I’m feeling right now. Happy, overwhelmed, ecstatic, nervous, proud and many more.
This is a huge accomplishment for us. It’s something we’ve talked about doing for so long, but weren’t sure if it was feasible for us. After going through this long process, we know that this is exactly what we need to be doing.
Unfortunately, we learned a lot through online research and talking with others. This is not something they teach you in school! So, I wanted to share my advice from purchasing our first home.
Our New Home
You guys, I seriously bought a house. I honestly still can’t believe it. A real place that is completely our own! The cool thing about our house is that it’s been completely renovated. New bathrooms, kitchen, windows, appliances and more! This was huge for us as we needed something move in ready.
My favorite part about this house is that I will officially have my own home office!!! Trust me, my Pinterest board is swimming with ideas. I cannot wait to make this a space of my own!
I put this first because you want to start here. Don’t start looking at houses until you know what you can afford. Looking for homes is stressful and time-consuming. You want to have a targeted search in your price range and location.
We worked with Cross Country mortgage and went with the FHA loan which is perfect for first time homeowners. There are extra restrictions like multiple inspections for flipped homes, but in the end it protects you from buying a crappy home.
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Your realtor is about to become your best friend so choose wisely. A good realtor will help you negotiate, keep you on track with all the paperwork and explain stuff you don’t understand (which might be everything in our case).
We worked with Sally Crist of Keller Williams and she knocked it out of the park. She understood that we were confused as hell and was always able to explain things. Make sure your realtor understands what you want and is willing to try their best to make it happen.
Looking for a Home
Once you know what you can afford, then you can download the trusty Trulia app (or Zillow, Realtor, Etc) and look for homes! Think about your current housing situation and what you would change.
Brad and I lucked out because our housing situation was getting to be unbearable, so it was easy to figure out what we wanted. Our house has everything an more that we need!
I was surprised at how fast the process was. Once you put in your offer and it’s accepted, you can own your home in 30-45 days! During that time, you will:
- Have a Home Inspection
- Have Your Home Appraised
- Commit to Your Loan
- Negotiate Repairs and Closing Costs
- Have a Final Walkthrough
- Transfer Title of the Home
Earnest Money and Other Things You’ve Never Heard Of
There were times where I though my realtor and loan officer were speaking different languages. I was often frustrated because I didn’t understand (and you know how much I like to understand things) and that this is how I was learning them instead of in school or something.
Earnest money is like the downpayment of your downpayment. Your actual down payment isn’t processed until closing. You get this money back if the deal falls through.
Appraisal is though your loan to see if the house is worth as much as they are spending. If it is, great! If not, you may have to pay the difference.
Removal of contingencies is something you will hear a lot in the process. This means that there are things that if advised will allow the process to move forward like repairs.
We got the short end of the stick on this. Due to a sucky situation with our landlord, we decided to move out prior to our closing date. Which means we had to move twice.
But thanks to family and Public Storage it wasn’t that bad. We moved everything ourselves for about a week after work. Then, we got an indoor and heated unit with Public Storage right near both homes. Public Storage made moving easy with their flatbeds for transportation, ready packing supplies and helpful staff.
Emotional Roller Coaster
This is important to know if you’re thinking about buying a house, especially if you’re an entrepreneur or side-hustler. Buying a home dominates your life. You will be on constant calls with your realtor and loan officer, you will have to do things like schedule inspections and you will be emotionally invested.
There were times when we felt defeated like when we ended the contract on the first house we put an offer on. There were times when we were angry like when we discovered there could be issues with home-ownership due to us not being married. Be prepared for many issues to arise.
But, also be prepared for the excitement of owning a home. Making secret Pinterest boards, buying stuff for your home, feeling so accomplished. It’s certainly an amazing feeling.