Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
I'm poor
Old 08-23-2020, 06:50 PM   #1
Thinks s/he gets paid by the post
Scrapr's Avatar
 
Join Date: May 2005
Location: Bend
Posts: 1,372
I'm poor

because I bought a new (to me) house Friday.

After my wife passed I wanted to wait a year to decide if i wanted to stay in our home. 4 years ago we had downsized from the "Big house" to our vacation house. About February this year i was feeling like I wanted to move back & be closer to long time friends. By May (1 year) I felt more certain.

So I had picked out 2 55 & better communities & 1 large all ages community. In June I toured a few homes & nothing really moved me. Then I happened to see an area in the all ages community that was fantastic. I loved it. The homes faced each other with sidewalks & a greenway in between. Alley load garages. No street facing homes. So I made a spreadsheet of each home there & came up with 30 homes. Nothing for sale now. The realtor sent out a letter & I sent out a letter to find any interest. I chatted up some people that lived in the area & put them to work.

Meanwhile I had Redfin alerts on anything in the development. Last Wednesday one popped up. I looked at my spreadsheet & this home was 2 numbers off my desired area. Did I miss one on my spreadsheet? I quick ran down & looked. No I didn't miss. This home is very close to my desired street but is facing a small park around a square. It was a desired plan with a Master really big bedroom with an en suite bathroom on the main floor.

I made an appointment for 9:00 am the next morning. I told the Realtor I really don't think this is the right one but I'd like to take a look. Housing is hot now & if you don't get in early you are skrewed. We got there & the home was immaculate. Really good shape. Cons: not my 100% location, no grass in yard for puppy. Pros: the right floor plan, good shape & not street facing

I went home to think about it. Deciding that the odds of the right plan (10 of the 30) coming up in my desired area might be a year or 2 versus this house available now & put in a full price cash offer about 3:00 pm. Offer expires about 9:00 am Friday morning. And waited. There was 4 other showings that day. By Friday am we get notice that there is a "substantially higher" offer in hand. My guess is $25k higher. Seller is waffling. Asks for proof of funds. I send over the MM statement. And wait. Seller wants a rent back for 60 days as she has not secured a home yet. Ironically in the resort area that I am moving from. Housing in Bend is hotter than the area I am moving to. So that might be difficult. I say sure & btw I can do that at no charge. I'll also waive inspections. Last & final. I had authorized the Realtor to go $10k higher but she did not need to go there

About 10 or 11:00 am I have an accepted offer. Close in 3 weeks. About 36 hours from hitting the market to an accepted offer. I transferred the money from Vanguard to my checking account this morning. And watched my total funds go way down. Poor me
Scrapr is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-23-2020, 07:03 PM   #2
Recycles dryer sheets
 
Join Date: Oct 2013
Posts: 401
Congratulations! That's exciting! We just bought a 'new to us' house in March (yes, in the early stages Covid and market free-fall) and love it! Don't worry about the total funds going down. I just look at it as a redistribution of assets and the total funds will go back up if/when you decide to sell your present home.
freedomatlast is offline   Reply With Quote
Old 08-23-2020, 07:34 PM   #3
Recycles dryer sheets
 
Join Date: Aug 2013
Posts: 235
Congratulations on your new home! So glad everything worked in your favor.
whatnot is offline   Reply With Quote
Old 08-23-2020, 07:42 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 12,669
Congratulations. I think you were smart to take 90% of what you want vs hoping to find 100% later. Life moves on anyway.
travelover is online now   Reply With Quote
Old 08-23-2020, 07:43 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RunningBum's Avatar
 
Join Date: Jun 2007
Posts: 9,889
That's great! Any chance at all of a house swap? That would be incredible, wouldn't it?
RunningBum is offline   Reply With Quote
Old 08-23-2020, 07:44 PM   #6
Thinks s/he gets paid by the post
Scrapr's Avatar
 
Join Date: May 2005
Location: Bend
Posts: 1,372
Quote:
Originally Posted by freedomatlast View Post
Don't worry about the total funds going down. I just look at it as a redistribution of assets and the total funds will go back up if/when you decide to sell your present home.
yes it's temporary. I have 2 unofficial offers of interest from neighbors. One neighbor has a friend that is moving over to teach nearby. I walked her through the house & she seemed to like it. Another neighbor might want to move her Mom in St louis in to care for her. And if that fails i can list it. 2 homes have sold on the street this year in days
Scrapr is offline   Reply With Quote
Old 08-23-2020, 07:49 PM   #7
Thinks s/he gets paid by the post
 
Join Date: Jul 2007
Posts: 1,227
It is amazing how hot houses are right now. Many sell the first day.
FANOFJESUS is offline   Reply With Quote
Old 08-23-2020, 07:50 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jan 2018
Location: Tampa
Posts: 6,896
Sounds like the start of the next stage in your life.
Congrats.
__________________
TGIM
Dtail is offline   Reply With Quote
Old 08-23-2020, 07:53 PM   #9
Thinks s/he gets paid by the post
VanWinkle's Avatar
 
Join Date: Oct 2017
Location: Brighton
Posts: 1,555
Congrats scrapr,

I am in the same boat as I am currently 16 months removed from my wife's passing. I am also thinking of selling my house and moving. I met a very nice lady on Christian Mingle and have 4 months of dating her behind me. I am hopeful that this may be a long term relationship. I am going to sell my home next spring and rent for a while to see how the relationship progresses. I am very happy for you getting that home in your desired area.

VW
__________________
Retired May 13th(Friday) 2016 at age 61.
VanWinkle is offline   Reply With Quote
Old 08-23-2020, 08:41 PM   #10
Thinks s/he gets paid by the post
CaliKid's Avatar
 
Join Date: Apr 2016
Location: Cali
Posts: 1,114
Congrats on making a move when you saw something good. In today's market you can't dilly dally! Good for you!
__________________
______________________
Hoping to get out around September 1, 2022... I hope, I hope, I hope. Until then off to work I go....
CaliKid is offline   Reply With Quote
Old 08-23-2020, 08:45 PM   #11
Thinks s/he gets paid by the post
Scrapr's Avatar
 
Join Date: May 2005
Location: Bend
Posts: 1,372
Quote:
Originally Posted by RunningBum View Post
That's great! Any chance at all of a house swap? That would be incredible, wouldn't it?
Yeah maybe? I want to tour the home again this week with some good friends. I'll drop a note that I'd be happy to let her stay at the house if she is house hunting. Kind of like the car dealer telling you to take the car home for a few days. Knowing that if you do it there is a good chance of a sale. Doesn't hurt that this is a great time to sit out on the patio w/the fire pit going in the evening.

Am i devious?
Scrapr is offline   Reply With Quote
Old 08-23-2020, 09:05 PM   #12
Full time employment: Posting here.
ohyes's Avatar
 
Join Date: Sep 2010
Posts: 772
What an exciting way to buy. Congratulations on your new home.
ohyes is offline   Reply With Quote
Old 08-23-2020, 09:14 PM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Teacher Terry's Avatar
 
Join Date: Jun 2014
Posts: 5,057
Congrats!
Teacher Terry is offline   Reply With Quote
Old 08-23-2020, 09:26 PM   #14
Thinks s/he gets paid by the post
powerplay's Avatar
 
Join Date: Oct 2008
Posts: 1,548
Congratulations! It sounds like a good move for you.
powerplay is offline   Reply With Quote
Old 08-23-2020, 10:00 PM   #15
Moderator Emeritus
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 44,048
The house sounds beautiful! Congratulations on finding such a terrific home.
__________________
"It ain't over till it's over"
- - - Yogi Berra (1973)
W2R is online now   Reply With Quote
Old 08-24-2020, 02:50 AM   #16
Moderator
braumeister's Avatar
 
Join Date: Feb 2010
Location: Flyover country
Posts: 16,432
Sounds like you made the right move. Wish you much happiness in the new home!
__________________
I thought growing old would take longer.
braumeister is online now   Reply With Quote
Old 08-24-2020, 04:46 AM   #17
Full time employment: Posting here.
racy's Avatar
 
Join Date: May 2007
Posts: 682
Your story had me on the edge of my seat!
__________________
"It is better to have a permanent income than to be fascinating". Oscar Wilde
racy is offline   Reply With Quote
Old 08-24-2020, 04:54 AM   #18
Thinks s/he gets paid by the post
street's Avatar
 
Join Date: Nov 2016
Posts: 3,531
I'm happy for you that you found what you wanted. I wish you well in your new home.
street is offline   Reply With Quote
Old 08-24-2020, 05:22 AM   #19
Moderator
 
Join Date: May 2007
Posts: 12,563
Congrats on the new house! You put a lot of thought into it and I'm sure that you won't regret making that small concession on location.
__________________
46 years old, single, no kids. Exited the job market in 2010 (age 36). Have lived solely off my investments since 2015 (age 41). No pensions.
Current AA: real estate 65% / equities 10% / cash 25%; Current WR: 1.6%
FIREd is offline   Reply With Quote
Old 08-24-2020, 05:27 AM   #20
Moderator Emeritus
Ronstar's Avatar
 
Join Date: Aug 2007
Location: Northern Illinois
Posts: 12,475
Congrats! Excellent that you got the house you wanted without having to go through a long process.
__________________
"Not all who wander are lost" - J.R.R. Tolkien
Ronstar is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Poor habits lead to poor future~an old concept mickeyd Other topics 0 05-29-2006 10:24 AM
Net Bank - Poor Customer Service Lancelot Other topics 7 09-22-2005 04:51 AM
Rich/Poor Gap laurence Other topics 8 06-15-2005 03:54 PM
Rich Dad Poor Dad series laurence Other topics 1 02-23-2005 07:21 PM
Poor Bill & Julie, @ age 60 w/$1M can't retire Telly Other topics 13 11-16-2003 05:31 AM

» Quick Links

 
All times are GMT -6. The time now is 04:23 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.