Sunday, January 27, 2013

Things To Do Before We Get To The Home

In college, looking for a job the fall before graduation (including recruiting schmoozing events, updating the resume, applying online, and attending all the pre-interview dinners, interviews, and making sure you have the right conservative accountant outfit of suit, closed toe shoes, and the right neutral make-up) was like having another class.  In medical school, applying for residency (including scheduling interviews, flights, hotels, and rental cars, paying for all the travel costs, saying good-bye to Andy for odd days here and there and single mommy'in it with Jordan) was like having another job.  In real life, trying to buy a home is like ... the worst.  It's a weird concoction of super fun obsessive hobby, really sad realization of how much real life costs, miscellaneous and overwhelming administrative assistant type of file accumulation and correspondence with your real estate agent, the mortgage professional, home inspectors, contractors, and title company, and intense excitement at the anticipation of having a place to call home for four years with a growing family.

This is what life has been for us for the last couple of weeks as it relates to the new home purchase.  

We made an offer with earnest money ($$) to show we meant it.  They came back with a counter.  We countered again. They said no and stuck to their original counter with a tiny more help with closing costs.  We accepted.  Then, we got their due diligence and ordered a home inspection ($$!) After that, we got contractors to quote us how much the work would be to get the house ready for us (add a laundry room upstairs and increase a rail that's too low).  We went back to the seller and asked for help ($$) with fixing some of the things the home inspection report came back with.  They came back and said, we'll help you with some of it.  We said... okay, sure... let's go on!  We then sent all our home loan requested documents to the mortgage professional.  This consisted of two years worth of W-2s, tax returns, last two months of our bank statements and pay stubs, and statements for our other mutual funds, 401ks, school loan documents, and school transcripts.  We then looked through four different home warranties to pick one, called the title company to confirm they had our information, and continually e-mailed the mortgage professional and our realtor, as well as bugging Andy's parents almost everyday about what to do about this or that.  They've made a few trips to take photos for us, and we continually consult with them on where exactly we should put our laundry room and other home things.  We feel very out of water and if there's one thing I'm certain of, it's that at least the next time we do this.. it might go a bit smoother and we might not be so lost.  We feel like the newbies who were struggling to open the stroller the first time we took newborn Jordan to Costco, unsure, a bit mortified, and laughing at our own ignorance along the way.  

Buying a home is not only expensive but also a lot of work, even before you get to the home!  We're excited though, and it's all going to be worth it (we hope!).  When the home stuff was a little too much, I complained to Andy about how it might be smarter to just rent.  He pointed out the advantages that I was overlooking... how it's a much better investment than rent (also cuz we're bad at investing our money and it literally just sits there), and how we'd have the luxury to do what we wanted on the walls and decorations and have it for four years.  So true.  So true.  My husband's so darn smart sometimes!  

And now, I should go to sleep... but of course I'm watching HGTV again.  Eek.  I really should stop now, but I feel like I am learning so much!  And since we have been going through the list of renovation we need to do immediately, would like to do eventually, and dream about doing someday, I know our priorities and know we cannot expect an HGTV home for our first home.  

1 comment:

HCIC said...

You'll LOVE the new house. It's hard being a grown up....:) -jess