Post # 1
So over the Easter weekend, Fiance and I, just for fun, went through some show homes in a few areas of the city. We had no intention of buying at this point but the more we walked through, the more we thought it just might work. And though I have never really cared about buying a house, it has me EXCITED that we might be able to make it happen sooner than later!
We are working on pre approval with now, and the mortage guy says we are likely good for around $335,000! Eek, we may be gettin gmarried AND buying a house this year. I’m so excited!
Post # 3
Congratulations!! I’ve been going back and forth on if I want to buy now, too. So many changes!
Post # 4
Congrats!! It is a fun process. My Fi and I bought our house together only 3 months after we were dating lol but now its a lovely home and now we are planning our wedding!! The way things work out! Best of luck!!!
Post # 5
@abbie017: We didn’t expect approval as Fiance has had a bankruptcy in the past 5 years, and I carry a pretty high debt ratio. We originally didn’t want to buy here where we live, but we found a fantasstic up and coming area that if we get into now, our home value should rise drastically in the next 5 years!
Post # 6
- Wedding: November 2011 - Palma Sola Botanical Park
Haha that’s pretty much what happened with us too, and we closed on 4/2! My only word of advice is to not necessarily buy what you can borrow, but rather what you can afford. Figure out what your monthly mortgage payments would be along with property taxes and homeowners insurance and go from there.
Post # 7
@ladyfingers: I agree. Mortgage lenders will approve you for much more than you’ll probably actually want/be willing to pay per month, once you take all other bills into account.
I recently had a client who asked to be and was approved for 125k, and his lender kept pushing him to see how much higher he could get. He didn’t even want to look at houses over 100k. The cheapest one I showed him was 59k.
If you have a realtor who is only sticking to the top end of your budget, walk the other way…
Good luck, it is so exciting!
Post # 8
@Roe: OMG where are you located that you can buy ANYTHING for $59,000?! I am moving there lol!
You can’t buy a damn apartment/duplex here for less than $175,000 and those are usually really old run down and in terrible neighbourhoods!
We can afford the mortgage/bills at $335k, it actually works out to less per month than what we pay in rent right now, even with additional fees on top, which is quite a releif, so we can start padding the emergency house fund right away, and all legal fees are paid by the builder if we use one of their 6 preferred lenders. I am waiting on my raise also so will actually be much more attainable in a few months. We couldn’t take possesion until late 2012 or early 2013 on completion (new construction only). But I agree, too many people get in way over their heads and land in trouble when interest rates climb or an emergency happens. Both Fiance and I have long and short term disability through work, and all our debt is insured in case of loss of work or death, so at least that’s covered, and medical here is a lot cheaper and we have coverage from both our jobs, so the unexpected emergency expenses are hopfully less likely where we stand right now.
Post # 9
Haha….whoops! Congrats and good luck – we ended up buying months before we had planned to and it was wonderful!
Post # 10
My house was $79,500 in 1998 and now we can sell it for over $180,000!
I am happy for you that you could afford a house over $300,000! Not very many couples can do that!
Post # 11
@Take The Reins: Pittsburgh!!
Its fantastic and I love it here. Cheapest metro in america and this is probably the last year that houses will be this affordable ever again.
59K house Still on the market, can you believe it??
Post # 12
@Roe: Wow! Fiance and I watch House HUnters all the time, and property Virgins on HGTV, and we always talk about moving into the US because housing is SO much cheaper than anywhere we can go. But, it’s hard to take the leap off the Canadian medical system for the US one, we have it pretty good in that regard!
Unfortunately, a bump in the road has likely set us back a year, some issues with FI’s bankruptcy he has to follow up on. A bill that was included in the settlement and payments is still reporting, for 2 years now! So any headway we have made to the good since, is really nothing because this one $600 issue has been negatively ipacting his credit all along. We are so disappointed and let down. Oh well, wasn’t meant to be yet I guess, more time to pay off debts before buying now!