Road To Home Ownership: First Viewing

There are, in my opinion anyway, three major pillars of adulthood: marriage, childbirth, and buying a home. Any or all of these may or may not happen, but whenever they do they tend to be markers of memory as well as potential sources of stress and change.
We’ve done the first, will probably never do the second, and… we’re just beginning our journey toward the third. That’s right, my wife and I are considering purchasing a house! After a while, one realizes that apartment rental is less and less attractive as that charge rises exponentially every year, and there is no return on investment. More fundamentally though, of course, is that the place just isn’t ours. So it can’t be customize to our liking as much as otherwise.
The challenge, as we’re already seeing in real color, is the startup costs. Down payments, Earnest money (whatever that means,) due diligence fees, inspection, appraisal… we’re going to be slowly nickel and dimed until we run screaming, and it’s likely going to take longer than we wished to get it all sorted. As such, this post will be first in an ongoing series, the last of which I hope to write from wherever out new abode is.
Speaking of, we got to check out our first possibility today. Getting to that point has already been a process that has taken nearly a month (a month? Wow, that time has flown). Paperwork had to be gathered and income verified before our lenders determined the amount of mortgage for which we could be pre-approved. I’m surprised that many don’t do it this way, choosing to find a home first then see if they can get the money they need to purchase it. With our pre-approval in hand, we could get a sense of what would be realistic if indeed we ever do clear all these pesky startup costs.
Anyhow, we arrived at the Southeast Raleigh property at 11 AM Saturday, early but not too bad I suppose. Her sister came along for the viewing as well as our real estate agent, given to us by the Teacher Next Door program my wife is using to spearhead this process. We entered a two-story townhome that was freezing, because it was empty and had no power. The bottom floor is not carpeted, which my wife very much preferred. The main issues were a lack of adequate storage and kitchen space, and on the second floor a carpet that needs replacing and some knicks and knacks that made the place look less appealing. Also, the master bedroom is likely too small to fit our fairly sizable bedroom set. Finally we were concerned about possible flooding in back based on the shape of that land in a large storm.
So no, we will probably not be getting that property. It was informative to take a look though, and I found our agent to be very good at really assessing what is going on in a place and relying it to us in an easy-to-understand way. We’ll just see if and when this all plays out.

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