Rushing to buy: a pros and cons list
There are so many negative factors to my situation surrounding buying
this house that I'm starting to question whether it's worth it. There
is one factor here that I'm not willing to disclose publicly. Not
because I'd be hurt in any way if "you" knew, but it would put me in a
very bad situation if I showed my hand to a select set of people. So,
keep in mind, there are a few other factors driving these time lines.
closing on a house takes 37 days, at a minimum, that means I need an
accepted offer by Monday. I have to travel from 9/27 through 9/29. (in addition, my daughter's
mom has to travel during this same time frame which means this will be
the first time my daughter ever stays over night with someone other
than her mom or I) Because I'm renting the house that I'm in I need to gear that rental
period to start the first week of a month. So, I either have to rent
it on 10/3 giving me one weekend to move. Or I have to rent it the
first week of November and pay two mortgaged for a month. The sellers are on the verge of a short sale. So, they are unable to
pay any closing costs unless I offer them more than they are asking
and have the costs rolled into the loan in that way. I have enough
cash reserves to cover closing and down payment and such, but not to
do all of that and put the few things into the house that I want to
do. I have to buy a refrigerator and such. I'd like to put down
laminate flooring. There are two windows that need to be repaired. And
that's just the basic stuff. Based on what the leasing realtor was able to determine, I'm going to
lose $75/mo on the rental of my house. That's not a huge deal (and I
still own the house, so it's not lost forever) but it's less that
ideal.
But these are the reasons I'm pushing forward. I really want to move. I love my neighborhood. I love my house. But I
don't like that I'm surrounded by renters. And I don't like that I
have to spend 15 minutes driving no matter where I'm going If I don't buy a house before 9/26, then it won't be until 2013 when
I'm in a situation where I could consider it again (due to the
unmentioned parts of my situation). This is a fantastic price and a nearly perfect house in a wonderful
neighborhood with great schools in the part of town that I want to
live in. I couldn't ask for a better setup.
So send me your good thoughts. These next few weeks are going to be
rough as I try to make all of this happen.
