In August, I was promoted at my job which required a relocation. Ron and I had been looking to purchase our first home anyway, having rented for almost four years, so this sped up the process. And while buying your first home is an exciting endeavor, it also sucks–like really sucks.
There’s a mountain-load of paperwork, negotiations, home inspections and then more paperwork, and that’s all before the home is bought. Let’s not forget about the fact that due to some less than honest companies and that whole mortgage fraud debacle, the rules now for obtaining a mortgage basically require a kidney and your firstborn child. You have to fill out numerous papers, provide a ridiculous amount of bank statements, have your accounts pretty much frozen for a good 45 days and then answer crazy questions that make zero sense. No, my husband doesn’t own his sibling’s land. No, he’s not paid on commission. No, that birthday check from grandma is just a gift and she isn’t secretly paying for our home because we are only pretending to be able to afford it.
It’s pretty crazy, but absolutely worth it. My advice is this: get a great realtor, find a wonderful mortgage guy who will work round the clock for you when the underwriters decide to lose their minds and use a home inspector that suffers from slight OCD. Trust me, he won’t miss a thing.
Also, when it doesn’t work out or something crazy happens, just breath. Hang in there. It’ll get better. We walked away from our first home after having our offer accepted because we realized through the home inspection that it was basically a massive fire starter. The homeowners had Edison knob and tube wiring (yep, like that Edison) that was missing part of its insulation coating and had paper backed insulation sitting on it. Somehow, the owners didn’t think that was an issue they needed to fix, so we pulled the plug. In the end it worked out and I think we ended up exactly where we should be, but it wasn’t without seeing some other options first.
And, not everyone saw our vision for our house. That’s okay. While the house has been taken down to the studs and redone with new wiring, plumbing, HVAC, roofing, etc., it’s still a 115-year-old home and that isn’t for everyone. We could see the potential, and yes, the work, but I think that’s the fun of owning your first home. We continuously have some project in the works, ranging from small to large, but it’s fun and we’re constantly making it our home. And that’s what’s important, right?