I'm buying a house!

[Teh One Who Knocks]

My lease will be up in just under 4 months and from what I understand, they will be raising the rent again (it's gone up every year I have lived there for the last 3 years).

I'm already paying almost $1000/month in rent and there are so many houses on the market in the area for pretty reasonable prices considering what they were priced at just a few years ago, I can't not buy a house now. I just can't see paying more than $1000/month in rent.

Already been pre-approved for the mortgage, so now I just have to find a place. So, if all goes well, in less than 2 months I'll be in my very first house.

[minz]

It's the best thing you will do, no point in paying off somebody else's mortgage when you could be paying off your own.

[Jezter]

That's awesome! There is no point paying that insane rent when you could be paying for your own house. I mean... that is a really, really high rent. You must have a big place... I hope to one day be able to quit paying rent and pay back the loan instead.

[RBP]

[PorkChopSandwiches]

My little boy is all grown up

[Teh One Who Knocks]

That's awesome! There is no point paying that insane rent when you could be paying for your own house. I mean... that is a really, really high rent. You must have a big place... I hope to one day be able to quit paying rent and pay back the loan instead.

Sadly, it's not very big...rent in a city in the US is very expensive...and the nicer the place, the higher the rent.

[Jezter]

Sadly, it's not very big...rent in a city in the US is very expensive...and the nicer the place, the higher the rent.

I don't know if it is just in Texas then, but the rents over there are a lot cheaper than here in Finland. A whole lot bigger places for less than what I pay for this little box... or then it was just the city/town.

[MrsM]

Sounds great Lance - good luck on the house hunting.

One good thing you have going for you on offers is that you won't have the condition of sale. This could be big for someone selling and may elevate your offer over someone who is offering more $.

[Teh One Who Knocks]

Sounds great Lance - good luck on the house hunting.

One good thing you have going for you on offers is that you won't have the condition of sale. This could be big for someone selling and may elevate your offer over someone who is offering more $.

What's that?

You have to forgive me, I've never bought before and a lot of the lingo is all foreign to me.

[KevinD]

Yep, $1k/mth isn't all that bad really for rent. My niece works as a manager at a complex, and their one bedrooms start at $1.5k (utilities included though, and a very nice place)

Good luck on the house hunting, make sure you get inspections done on prospective homes (your inspector, not realtors) and post some pics! lol

[KevinD]

I don't know if it is just in Texas then, but the rents over there are a lot cheaper than here in Finland. A whole lot bigger places for less than what I pay for this little box... or then it was just the city/town.

It was the area Jez. If you had been closer to Dallas or Houston, in nice areas, can be quite spendy, lol

[PorkChopSandwiches]

What's that?

You have to forgive me, I've never bought before and a lot of the lingo is all foreign to me.

She means other house hunters may make offers contingent on their own house being sold first, you dont have to worry about that.

[KevinD]

Beat me to it.

[MrsM]

She means other house hunters may make offers contingent on their own house being sold first, you dont have to worry about that.

Correct. If the person who is selling is buying another house then it's better for them to not have a condition of sale on your offer.

I've seen a string of a few homes deals fall apart because one guy didn't sell his house in time... which meant all the other deals died.

Not having this condition makes the sale go much smoother for the seller which makes your offer more appealing

[RBP]

I'd like to make MrsM an appealing offer.