Another house, Another groan

Okay y’all… we went and looked at yet another house in the (what I’m calling) great house hunt of 2013. It’s incredibly difficult to feel optimistic. What we can afford on one salary is most often not inhabitable. In fact, what we can afford mortgage-wise could then cost us an additional 30k out of pocket just to make it livable. Ridiculous. We almost have resigned ourselves to the fact that we won’t be able to live in the area we would like but it hasn’t come to that yet. Right now, we’ve decided to open up our options a bit more and look into some condos or town-homes in the area. Honestly we’re not thrilled with the idea but we seem to be having no other options.

So, we’re making a conscious effort to fully rely on God and trust His providence. Craig is going to speak with our landlord about the possibility of buying our condo we’re currently renting and/or the possibility of having a flexible lease for us to stay put but still keep looking at homes. Honestly I’m not super excited about buying the condo just because it’s tiny and there’s no yard and we want to have a kid and all of that. However, I know that for the long term having a condo on 1st street makes sense financially. We’ll never have difficulty renting the condo seeing as it has an “ocean view” (meaning if we stand on our balcony and look closely in-between the buildings across the street we can see the ocean). Not to mention the condo comes with covered parking and storage. I mean, if this works out it would be a great long-term investment.

It also means that we’d be in this condo for at least another two years before we could rent it out and buy something else. At least that’s what I’m thinking would be our timeline in a best case scenario. I definitely feel like I’m behind in the game. My short sale a few years back really not only caused me some financial strife but also caused me some mental anguish. I’m still beating myself up over that whole situation. I’m trying to go into this new home ownership with plenty of savings and good credit and a plan of action. It’s hard though, y’all. It’s hard when everything is out of our price range. No wonder people just rent forever. Home ownership is not as easy as the government would like you to believe. It’s very difficult to qualify for a loan even with stellar credit and a pretty decent income.

Anyway, thanks for letting me vent. I know that most of y’all reading this blog are friends/family but there are some folks out there who might feel like I’m over-sharing or worse, seeking attention and/or sympathy. Please know that I share this just because I know that other people are in the same situation and it’s frustrating and I feel like we can learn a lot from each other and most importantly I feel like sometimes it’s nice just to have a kind ear to listen and offer words of encouragement. If you’re going through this situation I’d love to hear how you’re making it work. If y’all have any advice I’m all ears. Thanks for listening. God bless!

MissCaron

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House Hunting (or not)

I owe y’all a little update. As you may know, Craig and I are trying to get out of our tiny condo and into a home with more space and a yard for him to get back to gardening, one of his passions. We’re looking for something that needs updating so we can get our hands dirty with some DIY. Right now the market isn’t spectacular and therefore the inventory sucks. This means that what we’re finding really isn’t what we’re interested. In addition, our financing isn’t what we would like.

Where does this leave us? Well, as you may remember, I went through a short sale on my condo a few years ago when the market tanked. It was, and still is actually, worth a third of what I bought it for and I knew that there was no way I would ever come out from under it so I took advantage of the governmental forgiveness and went through with a short-sale. The good news is that my credit is already well on it’s way to a full recovery. The bad news is that I’m still around 8 months out before I’m in the buyers zone once again.

So, it looks like we’re going to have to stick with where we are for now. I’m hoping that this fall the market will be a bit better which means there will be more inventory and therefore a better selection of homes we can afford. Until then we’re still paying down our debt and saving for our down-payment on our future home. I wish there were more ways to DIY our current living situation but there’s not a whole lot we can do right now.

Please continue to keep us in your prayers as we sort all this out. Especially since we’re going stir-crazy in our tiny condo. We need the peace to make it another 8-12 months. I know that in the long-run this is what is best for us but when you’re in the thick of it all it can feel overwhelming. I am a little excited about having another summer right on 1st street though. It’s kinda nice to be right in the middle of the action. I’ll be sure to keep y’all posted with any updates.

Just for fun I’m leaving you with a few pictures of what 175k will buy you in my neck of the woods. I have to remember when we’re out searching that we’re paying for location but I tell ya it’s a disaster zone, folks. Lots of properties that were used as rentals, practically destroyed, and then on the market as-is. Sad part is that someone will pay close to the asking price. Please notice the unfinished bathroom, out-dated kitchen, and rooms with no trim, doors, or baseboards. Needless to say we will definitely have a fixer-upper on our hands when we do make a purchase. To be honest, I’m rather excited about the possibility to make it a reflection of ourselves. I’m just not super excited about the price tag.