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Old 12-02-2018, 05:48 PM   #1
Aviza
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Default Goal of owning my own home

I have a few steps to take before that can be real. Like living on my own. I already have a stable job but need to work about 1.5 more years. Still building my credit. Though it's passable now.

Living with my mom for now. But thinking more and more about moving on my own. Doing that goes against my family but I think I will have to just bite the bullet for my own growth and development. I'll think about it. When I had excellent credit I tried to go from mom's to my own place, they said I lacked rental history. Always something.
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Old 12-02-2018, 05:51 PM   #2
downandlonely
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Default Re: Goal of owning my own home

I've thought about owning my own home, but found that I prefer renting an apartment. It means that I don't have to do any maintenance. If there's an issue with the plumbing, air conditioning, or heat, the maintenance staff fixes it for me at no extra cost. In my opinion, living in an apartment is a lot easier when you're single (unless you're really good at doing home improvements around the house by yourself).
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Old 12-05-2018, 08:32 AM   #3
rechu
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Default Re: Goal of owning my own home

^^ My husband and I are buying a house and decided on new construction, mainly because of that reason. Many used houses here are not well-maintained and we didn't want to have to deal with the expense and hassle of renovations or significant repairs along with a house purchase.


We will have to get a handyman to do a few things before we move in, of course. But the house will have a 10-year warranty, so after that we shouldn't have to deal with much in the way of repairs. And, if it is a construction issue, it will be covered.


We wanted to put down 20% to have lower payments and a better interest rate. It took a while, but saving consistently we got there. Hopefully you will be able to too. Try and set aside something every month!

Last edited by rechu; 12-05-2018 at 08:41 AM.. Reason: Added text
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Old 12-05-2018, 10:03 AM   #4
Emily Fox Seaton
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Default Re: Goal of owning my own home

That is a very good goal. I own my own home. For me it also started out as a goal. My family got the house they owned via it being my grandma's home that my mom lived in. So the family had never done a "regular" purchase and sale of a home. I was quite intimindated but wanted to learn the process. Now I know the process.

Also the value of my home has increased a lot since I purchased. You won't get that with renting.

My advice:
- no matter what you think it will cost to do this, double it. It was shocking to me how many extra costs came my way.
- get a good mortgage broker. One of my first deals fell through because my mortgage broker didn't pay attention and was trying to do something the underwriter wouldn't go for.
- get a good real estate agent. My first real estate agent was an absolute idiot. She actually refused to make an offer on a home for me because she said I shouldn't make an offer without seeing the unit. As I mentioned to her..I lived in the same complex - so I knew more about the unit than most people. I ended up going with a buyers broker only who was also an attorney. He was great.
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Old 12-05-2018, 01:20 PM   #5
Aviza
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Default Re: Goal of owning my own home

Thanks guys. Maybe I'll hold off on the newer car and really focus on getting my own place. I like to paint and stuff, can't do that in an apartment. Also I got linked into down payment assistance. So I'll save what I can but this will make things happen faster. I can do subsidized apartments temporary but the thought of forever is depressing. I'm actually looking into less expensive nice apartments. I had a nice one before my break, but lost it. Darn I really liked that place even still. Keep looking things will come up at the right time.
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Son: 14, 12/15/2009 R.I.P.
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Diagnosis: Bipolar with Psychosis. Latuda 80 mgs.
Roprinole 5 mgs. x3/day
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