- 4 years ago
- Wedding: June 2012 - Chapel of Flowers
Warning! semi-rant & possibly long.
DH & I recently thought about buying a house/condo since we are going to start TTC in the fall of 2014 (to have the baby in the summer of 2015). We applied for a loan through our bank and discovered that we can only use my credit. (Apparently his credit is bad because of his parents putting stuff in his name when he was 18-20 b/c he didn’t know any better & they have bad credit. Its about $3,000 in debt. I am against paying it off because he didn’t do it so why should we have to pay for their mistakes? The charges will fall off (“the 7 year rule” I am heard about) in the fall of 2015.)
Since we can only use my income & credit we are only approved for like less than half of what we would normally be able to get. Basically I can afford what we are paying in rent a month for a house. I personally don’t think my ‘requirements’ are too much: 3bedroom (so we don;t have to move when we have a 2nd child), 2full baths, basement/extra room to workout in (optional at this point), over 1,200 ft & a 1-2 car garage (in Ohio its kind of a necessity with the crazy weather. Plus I don’t want to have to worry about putting a baby in the car in a storm outside on the street/driveway).
We are looking in the suburbs on the east side close to our jobs, outside the outerbelt of the Main city. There are actually a few houses/condos in our price range but we both don’t like them. One of the houses is a ranch & the entire inside is covered in brown wall paneling (google 70s wall paneling for an idea), the carpet is blue-green with flowers, probably origional to the 70s also. The kitchen has laminate floors, with appliances that are also probably original, and a pink square-tile bathroom. Its pretty outdated to say the least. Its in a well established rural street with about .25 of an acre and an OK school district. (same one I graduated from but has gone downhill since then).
The next place we found is a beautiful condo with gorgeous dark wood cabinets, tile backsplash, and tile floors throughout the 2 story condo. Great open floor plan, very nicely updated. The neighboorhood, or “hood” (as my DH & I oh so nicely nicknamed it after we drove by) is less than desireable. When we were driving around to find the condo we saw there were 3 eviction notices taked to front doors around the complex (both single family homes & condos) stating that “the house/condo was forclosed on & *insert company here* has won the bid & will be taking over the house in 30 days, so please remove all personal effects”. Plus the condo we were driving by to specifically look at has about 8 other condos attached side by side. Well….apparently the back of one condos caught on fire and it was so bad it spread to the units on both sides of it. Like really?! I am not sure about the school district but from the looks of the kids getting off the bus, it was not good.
Everything else is unbelieveably small, like less than 1000 sq ft. There are 2 condos (in the same complex) my DH & I love but they are out of our price range. Like $34,000 out of our price range (if you want to know pour price range PM me & I will share!). There was one condo that sold for exactly what my price range is but we didn’t get approved fast enough & someone else got it before we finished the process. I really want to make a low ball offer to both of the condos (one has been on the market almost a year, & the other one just came up about a month ago) but I don’t want to offend the sellers. If we did put in an offer (opinions please: good, bad & ugly) I wanted to submit a personal letter explaining we are newlyweds looking for a home to start our family in & fell in love with your house…We don’t mean to offend you with our low offer…blah blah blah.
We both agree living in a “nice” part of town is not negotiable (we don’t want to worry about drive-bys, car windows being broken (happened to us already), someone breaking into our home or having to join a gang for protection! lol well, not so much the last one, but you get the idea.) but we can barely afford anything in the nice parts. It is so frustrating!!
Should we keep renting for another year and a half (& be forced to move to a 2 bedroom apartment when the lease is up & I am 8-9 months preggo) until DH credit improves & start house hunting again or should we buy an outdated home that we will have to fix up, low ball sellers, or..???
I would appreciate any and all advice on the subject. Also if you’ve sold your home what would you think about getting a letter from a potential buyer?