Bought my first house today! WOO HOO!

[acehistr8]

Well as I have been sharing with a lot of you over email, my fiance and I have been searching and searching for a townhouse in the DC area over the last month. This is the craziest market in the country right now in terms of trying to buy a place in our price range - which is pretty freaking sad that a $330K townhouse in DC is considered "entry level". The last 8 places we have looked at have been on the market an AVERAGE of 2.2 days and went for an average of $21,000 over asking price. But so be it, you know, we have to deal with what we have to deal with. We had lost 4 contracts in the past three weeks to people willing to pay $40,000+ over asking price which is just total nonsense. Well in large part thanks to our agent today we finally found a huge townhouse (2000 sqft) that had everything we wanted including a backyard, a big kitchen, a basement big enough for a pool table, the location we wanted - and the seller accepted our terms.

WOO HOO!

Cant believe I actually have a signed contract in hand to purchase a house. We are pretty excited, going to be closing the second week in February. Pretty strange yet exciting at the same time to actually have bought our first house. Im sure I will have a lot of questions in the coming few weeks as we look to do some projects and buy new stuff for the house. Wow. Time for a drink.

 

[RexBudler]

Congrats....Hope everything goes well with your new home

 

[freelancc]

good luck..

 

[Trampled Underfoot]

Make sure you get your own inspection! I just signed a deal myself that should close around the same time. I just hope the inspection goes smoothly.

 

[vinnie]

Good Luck

 

[Snake Plissken]

Good Luck Ace Me and the wife bought a townhouse about 10 months ago in that same price range. It is a nice feeling.

Getting your own Inspection is great advice!!

Congratulations and Best of Luck

 

[AR182]

ace,

congrats on your purchase. and snake has given you excellent advice that i hope you follow.

good luck to both of you!!

 

[Chanman]

When's the housewarming party?
j/k, congrats & GL ...Chan

 

[DR STRANGELOVE]

congrats Phil.

 

[DOGS THAT BARK]

:toast:

 

[ussrv]

congrats ace

 

[toastonastick]

Congrats!

 

[lowell]

congrats.been selling real estate for 20 yrs.ist home you will always remember.as far as homeowners dues make sure there are no assessments in the works.3 yrs ago helped my brother buy 1 and owner hid knowledge of 5000 assessment being planned.lawyer did not find it when he did search because it wasn't approved.by talking to owners on board we would of found out.my mistake.if you have homes selling for 40g over list are there any concerns with appraissals.is contract contingent on it.good luck.

 

[SixFive]

yes, an inspection is great advice and well worth the money!

When's the wedding date?

 

[dawgball]

Congrats, Phil! Gotta be a good feeling to get that out of the way!

 

[selkirk]

Congrats on the house and hope all works out well. scary when any real estate market has bids $40,000 over the ask. well, boom then bust.

long term real estate is a good investment, however surprised how much real estate has gone up in certain markets.

thanks
selkirk

 

[NickiD]

Congrats!!!


:toast:

 

[djv]

Inspection for sure. And if your not sure about first one. If you know a specilist in any questions that come up. And would take a second look cheap. Do it. Also im sure you dont need to be told this. But incase. Take the loan for as long as you can. Then pay extra as you have it against the principle. You can get payed off easier. And if a tough month or two might come along and you cant spare the extra. You dont have to do it. Once locked into a shorter term loan your locked. One never knows what can happen. It's called pieace of mind and you will enjoy that home even more. This goes for 400 grand homes. And even lower priced ones like we can get here in the mid west. It is grazy the differance. 2500 sg ft 3 bedroom, rec room, 2.5 baths 1 acre lot brand new, 200 grand. That east cost is nuts like the west cost.
Very Nice Enjoy.

 

[skulldog]

Congrats ace, even though the association owns the outside, the heating system, pest are your responsibility.

Ace, you said your agen, did you hire a Buyer's Agent and if so, I'm sure it was alot easier, than going alone

GL

 

[djv]

Fiance? When the wedding? Watch how those names go on that paper work. Not being nasty. It's just that later you can pay someone about 500 bucks to change it when married. Get a clause put on it. Name change to be as changed per marriage license placed in file at that time.
Also get a jar put it under the bed. Everytime you have sex put a dime in that jar. You do that for 6/7 years. Starting year eight. take a dime out each time you have sex. It will take you the rest of your life to empty it.