2010 has already been a year of surprises. And so far the biggest surprise of all is our family's decision to house hunt here in Michigan. I guess I always knew that we would end up living here for a while, especially now that Ford has agreed to pay for MBA school, but I was still unprepared for this very permanent gesture of purchasing a home.
So far the process has been very enlightening. It is amazing how complex it is to buy a house. Everyone wants in on the action. The bank wants to rob you with interest. The government wants to kill you with taxes. The insurance company wants a piece of you as does the inspector, the appraiser, not to mention your "friend" the real estate agent. Whew! What a mess. We have basically decided to live off ramen noodles and get our kicks watching library movies for the next year to help finance this whole deal. Or win a game show.
Well, we have already been out to see a few houses, but nothing to get too excited about. It's hard because we want to stay very frugal, but it's amazing what a few more thousand dollars can get you. I am already nervous to negotiate prices and make an offer. I mean this is big money we're talking about. I feel way to young for all this grown up business of house buying.
Crazy times. Well I'll try to keep you all updated on our search. Oh and I still am going to post pics from Christmas (hopefully before Easter) If anyone has any advice on home buying or know of a good buying agent I'd love to hear from you!
10/23/2017
6 years ago
We loved our agent, Holly Koch with Preview Properties in Brighton. This is our third home purchase and she is by far our favorite on either the buyer or seller end. toddandhollykoch@previewproperties.com 734-395-6556
ReplyDeleteWe had three days to find a home, and a horrible closing that got messed up, and she was still patient.
Just be patient and don't be afraid to shop around as far as your agent goes. It's a big process so you'll want to be working with someone you trust and that you're comfortable with.
ReplyDeleteDon't be afraid to make offers. There are enough people wanting to sell their house that they might accept a low offer. If they don't like your offer they'll more than likely make a counter offer to you. So I'd shoot low because the worst that can happen is they'll tell you no and you'll get an offer from them. After you look through enough houses you'll get a feel for what is priced right and what it over-priced.
Also, they extended to dealine for the first time homebuyers credit, if you want the $8000 and close on a house before the deadline. However, there are a few things they don't mention to you about it that are important to know. First of all, you must live in the house for three years or you'll have to pay the credit back. Second, there has been so much fraud involving the credit that last we heard the waiting period was 5 months before you'll receive the money. When we first applied we were told the wait was 4 weeks. Anyway, some programs let you use the credit in advance by borrowing against it, forming a second loan with an outrageous interest rate. That way you can use the $8000 for a down payment or for closing costs. They'll tell you that you'll receive your tax credit before your fist payment is due so you can essentially pay off the second loan before interest starts accumulating. But, I wouldn't do it since the wait is so long to even receive the money. I hope that makes sense. We were told we could purchase our home that way, but we didn't feel right about it and boy am I glad we didn't do it. If you have any questions just let me know. We're pretty fresh in this process having just bought our home in July.
Sorry for the super long comment. I hope it helps. Have fun :)
Rach,
ReplyDeleteI still say that you guys should not buy a home in Michigan and come and live in highland.
I think we're due for more pictures/video of Baby K. 我们都很爱小K。
ReplyDeleteI love the picture of you and Tim on the right side of your front page. Your hair is gorgeous and Tim's never looked better.
I think it's funny that Kev said your hair is gorgeous. Nice, but funny.
ReplyDeleteHOLY BIG NEWS! buying a house is serious business! Congrats to you for making that decision, but that makes all your family out west a little sad.. or at least me :) We will definitely have to come and see you this summer... Love you guys and good luck!!!!