Post # 1
This is my little rant for the morning…
FI and I just purchased our first home together which is something that I should be extremely happy about. We negotiated the owners to pay all the closing costs which was about $3500. But now I feel like every phone call I get from my FI is MORE money for this damn house! $400 for this and $300 for that, I feel like we’re being tapped out! I want all of this to be finalized so we can move in and focus on our wedding in September! I’ve been sick for the past three weeks, and adding stress is not helping me get any better.
Any advice is needed to bring me away from jumping off a cliff!
Post # 3
Honestly, owning a home won’t get cheaper. You can’t think its going to be smooth sailing once you have the keys. Yes some houses are smoother than others but you don’t really know how things are until you find out. There’s a lot to do to maintain homes even newer ones. The amount of money one spends on cleaning supples..sheesh. We asked for 3 things to be fixed before settling on our house and weve had to drop over $1,000 to fix 2 of those things within a year of ownership because they half-assed it. Owning your home, though can be trying, is still an experience worth living.
Post # 4
It will just get worse. We just bought a house in June and it happens alll the time. Refridgerator goes out, pipes are clogged, tree fell down, et,etc. We spent thousands the first week we closed, most we knew about because we planned to renovate, but there are always surprised. After all of that there is still no way I would rent over buying. Owning our house has been great but it will get very costly so just be prepared!
Post # 5
Buying and owning a house isn’t cheap. We probably spent $2k in the first 3 months of owning our home on fixes, inspections, and minor updates we wanted to do, and that’s with the seller paying for our closing costs too. It also costs more in the early stages because you are actively looking for issues with the house during inspections. Things will settle down eventually after you close, but there will always be surprises. Like yesterday, we discovered that a pipe froze in our kitchen. If we hadn’t noticed that, it would have burst and cost us hundreds in plumbing repairs. Home ownership always has some amount of stress, but is also very satisfying. It’s great to have a place to call your own and I think the added costs are worth it.
Post # 6
Make sure to get a home warranty (if you haven’t already), you’ll sleep better at night.
Post # 7
@FutureMrsK2014: We just went through home-buying hell, too, so I feel for you. At one point our builder handed us a change order for some things we’d requested early in the process and the amount was almost $10,000! I was shocked, to say the least. We negotiated that down to around $2,500, though. The worst part wasn’t dealing with the builder or realtor (our realtor was great) – it was dealing with the incompetence on the part of the mortgage company. The holidays didn’t help matters, everyone went on vacation during our process and things came to a halt. We were so stressed out. We finally closed on Christmas Eve but weren’t able to move in until after Christmas because the courthouse was closed and the papers couldn’t be officially filed. Ugh!
Even worse (lol) – we had a closing date scheduled for the house we moved out of (selling it) and the potential buyer’s financing fell through at the last minute! So, now we’re stuck with paying TWO mortgages, two homeowner’s insurance payments, two electrical bills, two water bills and keeping the home security system on that house. Fun times! We’re putting it back on the market soon and hopefully it will sell by spring.
Post # 8
@Sunfire: oh no!! That sucks, you poor thing. This just means someone will snatch it up this Spring and you’ll get more money for it! 🙂
Post # 9
@Mrs_Amanda: That’s what our realtor said, lol. Keeping my fingers crossed! 🙂
Post # 10
I am dreading that part of it all. FI and I already know that we’re going to spend about 5k on the house before we even move in. We did negotiate for the sellers to buy a home warranty though, and they just replaced the roof. I just have no clue what other things to expect. We’re still in the execution phase of the contract then we’ll be in the option period, so we’re going to have an inspection done soon.
Post # 11
yeah…….like someone else said, the spending $ won’t stop just b/c of closing. we closed on our house in october and moved in right before xmas. there’s still tons of stuff to spend $ on and we really didn’t have anything big wrong with our house. i def dont regret it, though!
Post # 12
The house was “flipped” so everything is brand new. New roof, new windows, new carpet, new floors, new garage, new paint, new cabinets, new appliances. The sellers are providing a one year warranty on the furnace. I’m just feeling a little discouraged because I feel like I’m being tapped out with inspection fee and appraisal fee and fee for the realtor etc. I want to be excited for this phase in my life with my awesome FI but it’s leaving my stressed and cranky!!
Post # 13
FutureMrsK2014– I bought a home in August of this year. It was expensive,
and there are surpirsing fees along the way. I remember thinking that I just wanted to back out and loose whatever money we had already put into it. However, it it still totally worth it! Just be cautious when you move it to always have a reserve for those just in case expenses. You are liable for everything. I promise though, it is totally worth it! Good luck 🙂
Post # 14
- Wedding: October 2014 - Savannah, GA
@FutureMrsK2014: I felt the same thing when we closed on our house. I felt like they were just making numbers and fees up. We had most of our closing costs paid for, but we still ended up paying quite a bit due to all the added stuff that wasn’t really discussed until closing. Glad all of that is over. It is definitely worth it in the end. We are so happy with our house and love knowing it is actually ours.
Post # 15
There are always little things here and there (at first – inspections, appraisals, etc.) and then once you’re in the home, ALL kinds of things. Here it’s common place for sellers to purchase a year’s worth of home warranty. However, many times, that’s really not a big deal. Most of the big things happen later. I’ve had to have my house treated for termites (common in Texas). That was $1500 but comes with a lifetime guarantee. Then the water heater busted. Another several hundred. Our pool pump housing is about to go, so that will probably be $500. It’s always something. However, I still would rather have my own house than a rental.
Post # 16
- Wedding: October 2011 - Bed & Breakfast
Welcome to home buying. I’m sorry this has come as an unpleasant surprise. If it’s not too forward, may I ask what you expected this process to be like? It’s all very expensive. There is a neverending list of things to be fixed, replaced, or added to a home, and that list will set your bank account back every single time. I feel like fate laughs at us. As soon as the bank account balance starts getting up there, something happens and we’re back at square one.