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Old 08-24-2020, 05:56 AM   #21
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Congrats!
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Old 08-24-2020, 06:27 AM   #22
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Are you planning to call it the poor house?
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Old 08-24-2020, 08:37 AM   #23
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Congratulations. Finding a house is always a balance of wants and prioritizing the must have vs nice to have. Sounds like you got all of your must have and many of the nice to have. You will be even happier once you move in. Nice that you had the money available right now and no qualification or other contingencies, to have a very attractive offer for the seller.
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Old 08-24-2020, 08:42 AM   #24
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I got an adrenaline rush just reading this! Congrats. Keep us posted on the relocation. I prefer to live vicariously for relocations than living through them myself.
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Old 08-24-2020, 08:44 AM   #25
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So happy for you!
I was thinking "house swap" also, as I was reading your story.
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I'm poor
Old 08-24-2020, 08:49 AM   #26
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I'm poor

I liked the part about waiting until the particular neighborhood “moved you.” Congrats! Also, your kind of story is why I tend to be in the camp that includes home equity in net worth calculations. There is a lot of potential happiness utility in that asset, even though it’s not super-liquid.
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Old 08-24-2020, 10:47 AM   #27
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Congrats! So glad to hear this! I do hope it's a fairly new house since you are waiving inspections. And being a cash buyer...it sure makes things easier to negotiate!
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Old 08-24-2020, 11:40 AM   #28
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Congratulations! Good luck.
You write very well & I always enjoy reading your posts.
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Old 08-24-2020, 12:09 PM   #29
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because I bought a new (to me) house Friday...
Congrats. You did all the preliminary work to identify your needs. And if you find something that works for you, you don't want to haggle for the last $10K and risk not getting it.

About the housing market, it is indeed hot. A couple of houses on my street went on the market a couple of months ago, and they were sold in 1 week or less.

I do not know if the sellers got the offer they wanted, but one of the houses got sold so quick the realtor had not had a chance to put up the sign in the front yard. In fact, we only learned the house was on sale because we happened to see the realtor taking photos of the house when we were on our daily walk. Then, saw a moving van shortly after that.
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Old 08-24-2020, 01:24 PM   #30
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Congrats! So glad to hear this! I do hope it's a fairly new house since you are waiving inspections. And being a cash buyer...it sure makes things easier to negotiate!
The home is 13 years old. Our company has worked for the builder for over 25 years. (won't do squat for a warranty repair though....I will give them a hard time though) This builder built the first 5 or 6 phases. In this development they are the preferred homes. The master developer brought in the National builders afterward & it shows. Our company won't work for them & I won't live in one of their homes.

If something shows up I have enough contacts to get the work done at non retail pricing. At some point I think I will change out the fiberglass shower for a tile shower. I will find a slow time in the market to get that done. The seller will still have the standard RE disclosure to do. So I will look at that closely

I think being a cash buyer swung the deal to me. And saved $25k too
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Old 08-24-2020, 01:51 PM   #31
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Congrats !! wishing you happiness in your newer house
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Old 08-24-2020, 02:55 PM   #32
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Congrats! Hope you find the perfect puppy to match the home! We're going through this right now...liquidating $500K in invested assets for a downpayment, to be partially replaced when we sell the current home. It's disconcerting, to say the least, especially when you've always been in accumulation mode.
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Old 08-24-2020, 04:34 PM   #33
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I transferred the money from Vanguard to my checking account this morning. And watched my total funds go way down. Poor me.
Congrats on your (future) new home.

Not many folks manage their personal finances as if they were running a business, but for those that do, buying a house merely moves money from one asset bucket to another. For example, the basis (not estimated market value) of my house appears on the socca balance sheet.

Being 'house poor' is a well-known phenomenon, and may or may not apply in your case. A few decades ago when I bought my first house, the standard advice for first-time buyers was, "Buy more house than you can afford." The expectation was that salary & benefits would grow over time, making the house more affordable. I ignored that advice back then with good results.

P.S. The woman who I was dating back then was also the loan officer who originated the $100k mortgage on my first house. She commented that my loan approval was a "no brainer." Note to others contemplating this strategy for getting a loan approved: don't date your loan officer.
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Old 08-25-2020, 06:36 AM   #34
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congratulations!
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Old 08-25-2020, 06:40 AM   #35
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Wishing you many happy days in your new home.....
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Old 08-25-2020, 07:30 AM   #36
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On the plus side, being temporarially poor is a great excuse to make a pot of beans and pork scrap.
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Old 08-25-2020, 09:51 AM   #37
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On the plus side, being temporarially poor is a great excuse to make a pot of beans and pork scrap.
cue the 4 Yorkshire men

https://youtu.be/VKHFZBUTA4k?t=22

We were poor but we were 'appy...because we were poor

You had a 'ouse? We lived in 1 room...26 of us
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Old 08-25-2020, 12:10 PM   #38
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Sounds great. Sometimes things happen because they're just meant to be. This may be one of those situations.
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Old 08-26-2020, 10:11 AM   #39
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CONGRATULATIONS! I love it when a plan comes together - enjoy your new place ~ life
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Old 08-26-2020, 11:34 AM   #40
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It's hard to get everything on the list but I think you got most and major items on the list, well done!!
Congrats! and enjoy the next stage of life!!
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