• Home With Joy

    Things I considered while looking at homes #HomeWithJoy

    After I spoke with the mortgage officer, I started looking at houses. Bad idea. Why? Because I had no parameters in place. I saw houses I couldn’t afford, houses that were too big, etc. To prevent further overwhelm, I got realistic and wrote down a list of all the things I needed to consider when looking at homes.

    Monthly mortgage payment

    One of my non-negotiables was that I wanted to pay less than $1,000/month for my mortgage. The whole point of buying a home was to not continue dealing with the yearly rise in rent.

    Square footage

    I knew that I wanted to live in a smaller size house, no more than 1,000 square feet. Heating/Cooling a larger home would be expensive and I didn’t want to spend the money on that. Plus I was used to living comfortably in smaller apartments.

    Neighborhood

    There were some places in #RVA that I wasn’t going to be able to live in because the housing prices were beyond my budget.

    I also wanted to live close enough to my favorite shopping locations, restaurants, and bars.

    Exterior design

    I was interested in brick homes. I love the classic look, plus there’s practically no upkeep. I also knew that I didn’t want vinyl siding or stucco because of the maintenance.

    Heating/Cooking Source

    I wanted my home to only use electricity for heating and cooking. Gas (cooking/heating) and oil (heating) are both expensive and I didn’t want to make room in my budget for either of them.

    Condition of the windows

    When I was looking at houses in-person, I paid close attention to the windows. If the seller was unwilling to pay for new windows or lower the sales price, I might have to pay for them myself (or wall away).

    Will my current furniture fit?

    Buying new furniture wasn’t in my budget, so I knew that all of the furniture that I already had needed to fit into the home I chose. I can always buy furniture that’s more suitable for my home later.

    I encourage you to take some time to create this list. It can save you time and money, both of which are valuable in the home buying process.

    Until next time,

    Joy

  • The Recovering Pessimist | I did these 2 things before buying my home | www.therecoveringpessimist.me | #amwriting #recoveringpessimist #optimisticpessimist #HomeWithJoy #HomeDepot #Lowes #Target #Homeowner #Homeownership #AtJoysHouse #HomeWithJoyFaves #WelcomeHome #homedecor #HomeMaintenance #Pinterest
    Home With Joy

    I did these 2 things before buying my home #HomeWithJoy

    The process of buying a home was super stressful for me. When I was exploring the idea of buying a home, I made sure that I had a realistic idea of what was involved. To see if becoming a homeowner was possible, I did two things: 

    One: I attended a first-time homeowner seminar. 

    My credit union hosted the seminar. Realtors and mortgage loan officers from the credit union were in attendance. Some of the topics covered during the seminar were:

    • How much house can I afford?
    • Homebuying costs
    • Understanding Credit Scores
    • Down Payment Assistance (DPA) Grants & Gifts
    • What’s included in a house payment
     Two: I spoke with a mortgage loan officer 

    A few days after the seminar, I spoke with a mortgage loan officer from my credit union. I wanted to know if I had a realistic shot at becoming a homeowner, so I asked the following questions: 

    • Was I in good standing to buy a home?
      • If I wasn’t in good standing what steps do I need to take to get in good standing?
    • How much house can I comfortably afford?
      • I say comfortably because if you qualify for a higher amount than what you’re comfortable with, you don’t have to buy a home at that higher amount.
    • If I brought a home at an amount I’m comfortable with, roughly how much will closing costs be?
    • Are there any programs that help first-time homeowners with closing costs?
    • What are the costs involved with the homeownership process (e.g., application fee, earnest money, etc.).

    I didn’t have to provide any financial documents for this conversation. Instead, I provided the mortgage loan officer with financial figures that were accurate as of the day of the conversation. This helped me get a more realistic idea of what I was working with.

    You don’t have to speak with someone from your credit union. However, I would strongly suggest that you speak with a well-qualified individual that takes your needs/wants into consideration. Purchasing your home is one accomplishment. Keeping your home is another.

    Until next time,

    Joy

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