January 21st, 2011 at 01:59 pm
They didn't accept the bid, but it was a good learning process.
The asking price was $65,000. The place needed a new roof, a slight upgrade in the electric, and a lot of cosmetic work. However, the structure was solid, we liked where it was, and we liked the house.
We offered $46,000, which is probably what it's actually worth. I proceeded to panic for two days because things like that stress me out.
We're pre-approved up to $65,000 on a 15-year fixed with 20% down, which means we can get something up to $80k give or take. We could definitely borrow more, but I have an obsessive fear of debt.
They countered at $60,900, which I took to mean that they weren't going to play ball, so we're letting it sit.
Buying a house is a bizarre process.
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January 14th, 2011 at 12:11 am
I forgot all about this place until Saving Advice sent me a birthday greeting in my email! Nice marketing, guys! I seriously need to update everything here.
I have been very, very blessed since I made my last entry in here. Here's the scoop:
1. My wife and I have absolutely zero debt! Debt free!
2. We drive a paid-for 2006 Saturn Vue.
3. We have $18,250 in a savings account for a down payment on a house. We just looked at a really cute house that's selling for $65,000, which is around the price that we want.
4. We have $10,000 in an emergency fund in addition to our other savings.
5. My wife gets to be a stay-at-home dog mom.
6. We tithe 10% of our gross income to our church. I'm just telling you guys because you don't know who I am. Tithing has been so amazing. If you don't do it, I challenge you to do it for a year.
7. We're making plans for baby #1.
8. We are contributing about 12% of our gross income to retirement. One of our goals for 2011 is to raise that to 15%.
9. We do all of this on one teacher's salary.
10. God is good. Sometimes I get scared that things are too good to be true, but we just keep having faith and pushing through hard times as they come.
Posted in
Financial Goals,
Banking,
Marriage,
Philosophy of Life,
Investing
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6 Comments »