Friday, January 25, 2008

Home Buying

Today is my day to get caught up in school, and maybe even get a little ahead, but it's already 11:25 and I haven't opened a book. I have, however, spoken with our loan officer, learned several new home-buying terms, emailed our real estate agent, identified our "must have" home characteristics, and perused far too many online listings. Long distance first-time home buying is going to be crazy.

The permanence of home buying freaks me out a little. With an apartment I could walk around, see things I didn't love, and think "oh well, we'll be out in a year." So while I'm thrilled to finally move into something I won't have to leave in a year, it makes the selection process quite a bit more important. I would love to find a place that we could stay in forever. Sure, we can say we'll move up, buy bigger, or build our dream house, but we could stay at that address until retirement. This is why I really don't want a three-bedroom, even though financially, that makes more sense right now. We want three or four kids and I feel like a three-bedroom house has an expiration date for us- and that expiration date is something I want to avoid. Luckily, we're moving to Texas, where a four-bedroom house is not out-of-the question for a young couple with only one person working (and a baby whose daycare costs more per year than my college degree).

Both our loan officer and realtor came very highly recommended and we know Austin pretty well, so I'm optimistic about this first foray into home-buying from 1000 miles away. We already have our plane tickets for a Spring Break trip down to Texas. My parents will get some quality Landon time in Houston while JP and I head up to Austin to find the house. It's amazing to think that this is where we will bring home our future children from the hospital, where our future dog will run around in the yard, where my clothes will live in walk-in closets rather than under-bed containers, and where JP will finally get to arrange his tool collection in a proper garage. I can't wait to find it!

19 comments:

  1. Congrats! Congrats! Congrats!

    The most stressful part for us was getting Bank of America to finish their funding. They took their sweet time. Hubby and I brokered the deal so that if we closed by a certain date, the cost of the house would go down substantially. We had to bug the shit out of BofA. Everything worked out, thankfully!

    I'm with you on buying a house that you doesn't have an expiration date. I am in love with my house. *IN LOVE* An extra bedroom would have been kick ass (I too want 3-4 kids), but we bought in Los Angeles, it simply wasn't going to happen. We thought about it. I just didn't want to be house poor.

    We're thinking of re-financing b/c the feds lowered the rate and do a 15 year mortgage. But it's scary. Everything is uber comfortable now and hubby could pay all the bills with his salary, save money and we could still have fun. So we're thinking about it...

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  2. Good luck!

    We are looking for a house in Austin right now too and also want a four bedroom (for the reasons you listed). I have been pleased with what we've been able to find for a reasonable price and the stuff we looked at initially (a month ago) is still on the market so we haven't had to make any fast decisions.

    Have a great time looking!

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  3. Oooh, home buying! I'm jealous. We went the 3-bedroom route and I regret it slightly now as we're bulging out at the seams and share your not-wanting-to-move-again ideal.

    Have fun!

    Also, hook'em, horns! (native texan whose mom is a UT grad, woo!)

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  4. I really wanted a 4 bedroom but my husband fell in love with our current home as soon as he saw it. It does suit our purposes for now though because it has a big open floor plan with a big living room and an open kitchen so I am happy. We entertain a lot and people always compliment us on the house. We knew that this would be our "starter" home though and only plan on living in it for a maximum of 10 years. We'll see how that works out. Buying a home is a headache but it all works out in the end.

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  5. I'm a homeowner but I know not the things of which you speak... walk-in closets? Four bedrooms? Yard big enough for a dog?

    Oh yeah, I live in Boston, not Austin. We have a tiny two-bedroom on a parcel the size of a postage stamp and it cost $60K more than my in-laws' giant ski chalet-looking home on a lake in Nowhere, NY.

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  7. so awesome to see a new "tag" on your blog,,yeeeah Austin!! im tellin ya my parents house thats for sale is the 4 bedroom dream (walk in closets and all!) ok sorry, had to get that shameless plug..haha!!if ya guys are ever interested or know anyone who is looking,let me know!!!

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  8. there is so much worry in buying a house- but once you finally get into a home that you can call your own- it's so exciting! It's fun to tour homes and imagine where all your stuff will go too :)

    Good luck with the house hunt!

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  9. My clothes live in those under-the-bed containers, too. The baby has taken over most of the closet space. Maybe I should let him live under the bed instead? Hmm . . .

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  10. Congrads on everything. It sounds like you guys deserve some good news after all you have been through. : )

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  11. Yeah for moving to Austin! Who'd y'all end up going with for the realtor? Let me know if you see anything you like - at the very least I can go drive by it and check out the outside. Send the final dates of when you'll be in Austin so I can mark them on my calendar. However, I'm very sad to hear Landon won't be coming to Austin - I was looking forward to seeing him :-(

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  12. Yeah for moving to Austin! Who'd y'all end up going with for the realtor? Let me know if you see anything you like - at the very least I can go drive by it and check out the outside. Send the final dates of when you'll be in Austin so I can mark them on my calendar. However, I'm very sad to hear Landon won't be coming to Austin - I was looking forward to seeing him :-(

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  13. Man, oh man... buying a house for the first time is intense enough- buying it from so far away? I think you may just be a little nuts!!

    Still- it's very exciting. We've been house hunting, well, browsing really, because we've got so much time left on our apartment lease. And while we would like to find a permanent house, it's just not in the cards for us financially- so I feel ya!

    But I wish you the best of luck on your house hunt, and hope that you find your way home to the perfect abode. :)

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  14. I love home ownership. It's wonderful to be able to paint your walls and put in as many nail holes as you want! Of course, the downside is when something breaks, or leaks, there's no one to call and force to fix it, and it usually costs a few thousand dollars! Also, our last apartment had wonderful walk-in closets and a swimming pool. House has tiny closets and no swimming pool. Oh well.

    We bought a house that would accommodate two children. But if we end up with three, we'll have to sell before they're teenagers. It'll be too crowded, and we'll need more than two bathrooms definitely!

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  15. Congratulations!! I'm so excited you're moving to Austin...maybe I'll actually be able to meet you in person! :) If you're up to living outside of the city (in Leander, Cedar Park, or Round Rock) there are some great homes out there. You guys should check out Avery Ranch...I'm in love with some there!

    Good luck :)

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  16. Congratulations! We took a long time with our first purchase. The second time we also had a long distance move. We flew in, house-and-job hunted over a five-day period and then moved back a few weeks later into our new home and new jobs. Talk about fast! We found that a good agent was invaluable and that we had to be really honest about what we wanted in a house because, as this was our second house, we knew we wanted to be in it for the long-term. We took a digital camera to take pics so we could review them each night and we took a notepad to take notes for easier comparison. We knew what we were and were not willing to deal with (major repairs were out; older houses also out; Chapin wanted a pool but I thought that was dangerous for Pumpkinhead so we compromised on a large yard with room for a pool later; etc.)

    Good luck!

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  17. Good luck! It is great you are living somewhere that you can actually afford a place. Home buying in L.A. is a long ways off for us, even with both of us working.

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  18. I completely understand you on the desire for the perfect house! Our house has 5 bedrooms (1 is a guest room, 1 we use as an office) but needed some work - we couldn't afford a modern house in a good neighborhood with good schools. However, we love that we could stay here, happily and comfortably, until we are 80. Yeah, I don't have the granite countertops of my dreams (yet) but we are looking forward to renovating and updating. We love being able to paint the walls whatever color we want, chuck the nasty carpets, have a swing set in the yard, room for a dog (or two), space for a piano, and a room filled with nothing but toys. We did make some compromises (no walk in closet for me) but we are very glad we got a house that would not have an expiration date whereby one more child would cause us to be uncomfortable. Like you, we want 3 or 4 children one day and in our house, that is possible.

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  19. I give you credit trying to buy a house long-distance. We went the easy route and just rented for a little bit until we found a house when we moved from Chicago to DC. At least it's familiar territory! :)
    And I'm with ya...it might be worthwhile to push for a 4-bedroom especially since with the market the way it is, you might get a better deal buying a 4-bedroom right now than in a few years (we did that too...did a stretch to buy 4 bedrooms when we only had 1 kid at the time).

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