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Thread: Buying a house - also, m'f'in' buckets!

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    Buying a house - also, m'f'in' buckets!

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    I finally went to see a doctor, and got diagnosed with major depression. Now I'm on Lexapro, been on for a couple weeks, and it's like when I got glasses. I didn't realize how fuzzy everything was until...it wasn't. So now I have enough motivation to do things other than stare at the wall and contemplate my insignificance in the world.

    And now I've submitted a pattern to a knitting magazine (should find out by the 14th, and I'm bouncing off the walls), and Hubs got a new job (he's very excited about it), and we're going to start looking to buy a house. Yay!!

    So - any tips (we know about the inspections, generic stuff about loans)? Anyone recommend any realtors in northern IN or southern MI? I'm so excited to finally have a place of our own! We can have a real garden! And fruit trees! And I can have a good craft room! With shelving! And maybe a full sized kitchen!!



    Bonus story: I recommended to the plant manager (my boss, I do the environmental compliance) that we stop keeping chemicals in random unlabeled 5 gallon buckets, and stop keeping piles of said buckets outside to collect rainwater. Now....all the buckets are gone. And I have 3-5 people a day asking me where their buckets are. All I can think about whenever someone asks me about the damn buckets is that walrus with the fish bucket. I do not have the buckets. I am not the Bucket Queen. However, I did find the Bucket Thief and ransom out a few of them so people can stop asking me about the duckin' buckets. I have now heard/read the word bucket so many times that I no longer recognize it as a word.
    I live dangerously - I drink whiskey while knitting.
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    I’m so glad that you got the help you needed. It’s amazing what medication can do.

    I’d speak with a realtor about buying a house if your DH just got a new job. When we applied for a VA loan we needed to show proof of employment at the same place for two years I believe. Might be different for different banks/states.
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    Quote Originally Posted by sassyspoonicus View Post
    I finally went to see a doctor, and got diagnosed with major depression. Now I'm on Lexapro, been on for a couple weeks, and it's like when I got glasses. I didn't realize how fuzzy everything was until...it wasn't. So now I have enough motivation to do things other than stare at the wall and contemplate my insignificance in the world.

    And now I've submitted a pattern to a knitting magazine (should find out by the 14th, and I'm bouncing off the walls), and Hubs got a new job (he's very excited about it), and we're going to start looking to buy a house. Yay!!

    So - any tips (we know about the inspections, generic stuff about loans)? Anyone recommend any realtors in northern IN or southern MI? I'm so excited to finally have a place of our own! We can have a real garden! And fruit trees! And I can have a good craft room! With shelving! And maybe a full sized kitchen!!



    Bonus story: I recommended to the plant manager (my boss, I do the environmental compliance) that we stop keeping chemicals in random unlabeled 5 gallon buckets, and stop keeping piles of said buckets outside to collect rainwater. Now....all the buckets are gone. And I have 3-5 people a day asking me where their buckets are. All I can think about whenever someone asks me about the damn buckets is that walrus with the fish bucket. I do not have the buckets. I am not the Bucket Queen. However, I did find the Bucket Thief and ransom out a few of them so people can stop asking me about the duckin' buckets. I have now heard/read the word bucket so many times that I no longer recognize it as a word.
    You used to keep 5 gallon buckets of unlabled chemicals outside in the rain, mixed and stacked together? wow. All the possibilities! Explosions! Poisonous gas! Creation of new super villains! Endless fun!

    Oh, and congrats on the other stuff too.

    As for buying a home, first ask yourself WHY you want to by the home. Most people should probably not buy, because they want to buy for all the wrong reasons. 3 pieces of advice though: Whatever the bank says you can afford/pre-approves you for - Cut it in half. If right now, you are paying X amount a month to rent, and at the end of each month, you have nothing left...you can afford about 60% of that as your mortgage. The cost of home ownership is about 150% of the cost of your mortgage.
    2) If you have not been able to save money equal to about 10-20% of the cost of the house as a down payment, you can not afford to buy a house. Anything less than 20% down, you end up paying PMI, which costs a lot. (except VA, and some other specialty loans) . 3) do NOT fall in love with a home. If you do, you will end up over paying for it. You need to be willing to walk away from any house.
    4) Your Realtor will show you a few terrible homes that are also over priced, before showing you the home she actually wants to sell you. It is probably the house that she is also representing the sellers on. The idea is that after seeing a few terrible homes, the third home will look fantastic to you. Its really not.
    5) If your Realtor keeps trying to show you homes that are at the top of your price range, or a little higher, change Realtors. If you ask to see only single story homes, and she keeps trying to show you 2 story homes, change Realtors.
    6) Buy a home appliance warranty! Seriously. It is the only "extended" type warranty that is actually worth anything. Usually all it takes is one appliance to go kaput, and it paid for itself. Remember, most appliances are only good for about 5 years these days. 10 years on a fridge.
    7) Never let yourself get pressured into saying yes. This will be the single most expensive purchase in your life. If you are ever told "You need to put in an offer now, other people have already put in offers" be ready to walk away. Let those fools over pay.
    If you want my opinion on your relationship or life issues, just ask Villanelle!
    Quote Originally Posted by LittleMsSunshine View Post
    I think it's really funny when people come on here, and automatically assume that everyone here is a gung-ho, hoo-rah, i-bleed-red-white-and-blue, kiss-my-military-ass, people-in-uniform-can-do-no-wrong, and i'm-entitled-to-everything bitch.
    "RIP Blackie, and Whitey, New Whitey. Goodbye Poopers and Momma Beige and Lady Grey. New Blackie and the Whitey Sisters rule the roost now!"
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    Quote Originally Posted by Guynavywife View Post
    You used to keep 5 gallon buckets of unlabled chemicals outside in the rain, mixed and stacked together? wow. All the possibilities! Explosions! Poisonous gas! Creation of new super villains! Endless fun!

    Oh, and congrats on the other stuff too.

    As for buying a home, first ask yourself WHY you want to by the home. Most people should probably not buy, because they want to buy for all the wrong reasons. 3 pieces of advice though: Whatever the bank says you can afford/pre-approves you for - Cut it in half. If right now, you are paying X amount a month to rent, and at the end of each month, you have nothing left...you can afford about 60% of that as your mortgage. The cost of home ownership is about 150% of the cost of your mortgage.
    2) If you have not been able to save money equal to about 10-20% of the cost of the house as a down payment, you can not afford to buy a house. Anything less than 20% down, you end up paying PMI, which costs a lot. (except VA, and some other specialty loans) . 3) do NOT fall in love with a home. If you do, you will end up over paying for it. You need to be willing to walk away from any house.
    4) Your Realtor will show you a few terrible homes that are also over priced, before showing you the home she actually wants to sell you. It is probably the house that she is also representing the sellers on. The idea is that after seeing a few terrible homes, the third home will look fantastic to you. Its really not.
    5) If your Realtor keeps trying to show you homes that are at the top of your price range, or a little higher, change Realtors. If you ask to see only single story homes, and she keeps trying to show you 2 story homes, change Realtors.
    6) Buy a home appliance warranty! Seriously. It is the only "extended" type warranty that is actually worth anything. Usually all it takes is one appliance to go kaput, and it paid for itself. Remember, most appliances are only good for about 5 years these days. 10 years on a fridge.
    7) Never let yourself get pressured into saying yes. This will be the single most expensive purchase in your life. If you are ever told "You need to put in an offer now, other people have already put in offers" be ready to walk away. Let those fools over pay.
    Right?? And our safety manager said nothing about it. The guy in charge of making sure we're OSHA compliant. Ooooooookay then! Luckily it was things more like used oil, rather than the sulfuric acid we also keep on site. Though I did have to have quite a stern conversation over someone putting diesel fuel in a tote labeled kerosene...that then leaked everywhere. In a confinement pad, thankfully, but still, what the hell??

    We want to settle, really. We aren't planning on going anywhere for some time (like, at least 10 years, if not more). We're ready to not be going anywhere, and we want the land most of all. We have a pretty sizable chunk saved up, and to be honest, we are living well within one of our salaries (we make about the same amount). We're not looking for the max we can afford because that's waaaaay too much house for us. We're pretty lucky to be in a really low cost of living area. I think the houses we've been interested in so far have been about 30% of what we've been labelled as being able to afford, which feels ridiculous to me.

    One worry is having to change realtors. That may have to go to Hubs. I intensely dislike those sorts of conversations. I have some recommendations from people at work of who they used, so hopefully that helps. Plus, having new jobs concerns me - but from talking with our banks, they didn't seem as concerned as I thought they would have been.
    I live dangerously - I drink whiskey while knitting.
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    Quote Originally Posted by sassyspoonicus View Post
    Right?? And our safety manager said nothing about it. The guy in charge of making sure we're OSHA compliant. Ooooooookay then! Luckily it was things more like used oil, rather than the sulfuric acid we also keep on site. Though I did have to have quite a stern conversation over someone putting diesel fuel in a tote labeled kerosene...that then leaked everywhere. In a confinement pad, thankfully, but still, what the hell??

    We want to settle, really. We aren't planning on going anywhere for some time (like, at least 10 years, if not more). We're ready to not be going anywhere, and we want the land most of all. We have a pretty sizable chunk saved up, and to be honest, we are living well within one of our salaries (we make about the same amount). We're not looking for the max we can afford because that's waaaaay too much house for us. We're pretty lucky to be in a really low cost of living area. I think the houses we've been interested in so far have been about 30% of what we've been labelled as being able to afford, which feels ridiculous to me.

    One worry is having to change realtors. That may have to go to Hubs. I intensely dislike those sorts of conversations. I have some recommendations from people at work of who they used, so hopefully that helps. Plus, having new jobs concerns me - but from talking with our banks, they didn't seem as concerned as I thought they would have been.
    Bless your soul! Too many people jump into home ownership out of outdated misconceptions, and end up regretting it. Lessons learned hard. I was there too.

    Oh, ok, so only toxins leaching into the ground water, no worries. Ha.

    By the way what's a muffin bucket?
    If you want my opinion on your relationship or life issues, just ask Villanelle!
    Quote Originally Posted by LittleMsSunshine View Post
    I think it's really funny when people come on here, and automatically assume that everyone here is a gung-ho, hoo-rah, i-bleed-red-white-and-blue, kiss-my-military-ass, people-in-uniform-can-do-no-wrong, and i'm-entitled-to-everything bitch.
    "RIP Blackie, and Whitey, New Whitey. Goodbye Poopers and Momma Beige and Lady Grey. New Blackie and the Whitey Sisters rule the roost now!"
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    Quote Originally Posted by Guynavywife View Post
    Bless your soul! Too many people jump into home ownership out of outdated misconceptions, and end up regretting it. Lessons learned hard. I was there too.

    Oh, ok, so only toxins leaching into the ground water, no worries. Ha.

    By the way what's a muffin bucket?
    TBH we could probably buy a giant plot of land and put all the gardening stuff we want on it and be happy. Also, a modern shed for my craft room. And my parents really jumped into a house, so all I hear about it from my dad in particular is how much he hates where the house is. But they bought really early, he had me very young, and they were excited to jump into a new life together, so I can see how it happened, but can also see how in 20-something years, how their wants/needs have changed.

    It's baby steps with these guys. They are hilariously happy to do whatever I ask them to do....but sometimes fly off the deep end. Like, the buckets. Or that I wanted the containment pads checked & drained more often than "eh, have we done that in a while?" so now it's a daily check. Well, I meant weekly, but sure, daily works.

    I'd love a bucket full of muffins, but alas, it was a motherfucking bucket.
    I live dangerously - I drink whiskey while knitting.
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    Quote Originally Posted by sassyspoonicus View Post
    TBH we could probably buy a giant plot of land and put all the gardening stuff we want on it and be happy. Also, a modern shed for my craft room. And my parents really jumped into a house, so all I hear about it from my dad in particular is how much he hates where the house is. But they bought really early, he had me very young, and they were excited to jump into a new life together, so I can see how it happened, but can also see how in 20-something years, how their wants/needs have changed.

    It's baby steps with these guys. They are hilariously happy to do whatever I ask them to do....but sometimes fly off the deep end. Like, the buckets. Or that I wanted the containment pads checked & drained more often than "eh, have we done that in a while?" so now it's a daily check. Well, I meant weekly, but sure, daily works.

    I'd love a bucket full of muffins, but alas, it was a motherfucking bucket.
    and i just realized the buckets you were talking about!
    If you want my opinion on your relationship or life issues, just ask Villanelle!
    Quote Originally Posted by LittleMsSunshine View Post
    I think it's really funny when people come on here, and automatically assume that everyone here is a gung-ho, hoo-rah, i-bleed-red-white-and-blue, kiss-my-military-ass, people-in-uniform-can-do-no-wrong, and i'm-entitled-to-everything bitch.
    "RIP Blackie, and Whitey, New Whitey. Goodbye Poopers and Momma Beige and Lady Grey. New Blackie and the Whitey Sisters rule the roost now!"
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    Get a buyer's agent so that you have a realtor who has a fiduciary responsibility to you.
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    Quote Originally Posted by dekeoboe View Post
    Get a buyer's agent so that you have a realtor who has a fiduciary responsibility to you.
    Will add to the list!!
    I live dangerously - I drink whiskey while knitting.
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    Owning a house is way, way more expensive than most people think. Make sure you take in to account not only property tax (a good realtor should be able to help you get a very, very good estimate of what that will be), homeowners insurance, PMI (if that applies, which is generally if you are putting less than 20% down and aren't using a VA or some other special loan), and HOA (if applicable), but also an actual reasonable number for home maintenance. That latter often trips people up. Yes, your house doesn't need a new fridge, washing machine, garage door opener, decking surface, a/c, roof, or furnace every year. But there's a very good chance it is going to need one of those most years. There all sorts of calculators out there for estimating maintenance costs, but they are mostly shit. It depends so much on location (because roofing costs don't vary nearly as much as housing costs, so a house in SoCal that costs 300% more than a house in Rural Iowa but has the same amount and type of roof isn't going to cost 300% more to roof, which is what a number based on % of house price would tell you). It also depends on type and age of house, among other factors. So to get a reasonable estimate, you are going to have to put in some work. But do this, or all you may well end up house poor, even if you buy one that you think costs 30% less than you can afford.

    Also, it's unclear what you are basing "can afford" on, but hopefully that's not just the number for which you are approved. Because the amount approved is a ridiculous number and should immediately be ignored, other than as a measure of what "what to f'ing much" is. "What you can afford" should look at all the amounts I mention above plus any improvements you want to do and services you want to pay for (like gardening, for example), and any increase commuting costs if you are further (this is one people generally grossly underestimate as well!). And then add what will likely be increased utility costs if the place is larger, older, or otherwise more expensive to heat and cool than your current place. Then, compare that to what you are paying for housing and utilities currently, and look at the Delta. So if your current rent and utilities is $1500 and the new number is $2000, ask yourself where that $500 a month is going to come from. In a best case scenario, you would take at leas a few months to live that way--take $500 out of your account every month and stash it somewhere and see how it feels to live like that. If it feels tight, you need to adjust down your housing numbers accordingly.

    Also, don't be in a rush. Ideally you can set up your current living situation so it is month-to-month, so you can take all the time you need to find the right place. When you rush, you make desperate, bad decisions. Don't buy in to "if we don't offer now, and offer high, someone else might get this house!". They might, in which case you will eventually find another one.
    Science always wins over bullshit. ~Dick Rutkowski
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