My hubby and I purchased our first home together back in 2006 right before we got married. S we’ve been in it now for over 10 years. Don’t get me wrong it was a great starter home.
But 11 years, 3 boys, 2 cats later; we are busting at the seams.
It is time to figure out when to move. Plus we got Aden into the school we wanted within our county but there is no guarantee Gavin will get in since we go Aden in to the lottery system (you apply to have your child transferred into another school within your county if you are not happy with the one you are zoned for or whatever reason and they picked on a lottery basis depending on spots they have within your desired school).
So we have about 3 years before Gavin starts school to get this all figured out. No huge rush but a little bit of one.
This is not a new topic for Joel and I, it has come up over the years and we’ve slightly discussed and then it falls back to the way side. There was even one time, we made an offer on a new build but we could not get the #s worked out with the builder so we opted out.
Well lately we figured it is time to at least have more serious conversations – got to start somewhere at some time. Right?
We don’t want to ding our credit by getting pre-approved as we know we are not at the point of selling/ purchasing within the next 30 days. But it would be nice to have an idea of what range we can afford.
So this weekend the light bulb goes off for me and I’m like… There must be a calculator online to give us that idea. (I know it would not be perfect, but an idea is all we are looking for and it is better then knowing nothing.)
That was a bust. Why you ask. I tried one calculator and it gave an amount, so I was like ok let’s try a different calculator just to see if I’m getting the same #. Nope.
In all I tried 10, yes 10 different calculators and I got a range from as low as $105 (which seems super low) to as high as $245 (hmmm). Talk about crazy. I used all the same #s for each calculator.
I told Joel and he was just as confused as I was so we decided to go about it a little different. We are going to look at $ coming in and $ going out. See if there is any where we can make some changes. See how much we could add to our current mortgage that could be our new monthly. Then my super smart hubby can figure out about what price of a house we can purchase/ build.
He’s a #s man. Loves to do math.
So we will be doing that over the next few days. Hopefully.
House hunting/ buying/ selling/ building, can get complicated.
Do you sell first?
Do you buy first and hope to sell quickly?
When looking at houses you find things you like, you don’t like, you can live with.
I think one of the big issues is the whether to sell first or not. You hope you can sell and but simultaneously but I’m not sure how often that actually works out.
If we sell first, we do have the option of moving in with my parents (for the time being) (cheaper than an apartment since apartments cost more that our mortgage), but would we find a new place fairly quickly. Or would we all be getting on one another’s nerves because it seems as if we have been there forever.
If we buy first, we don’t want two mortgages at the same time. Who know how long it will take to sell current place. It could be quick, it could take a while.
If we decide to build (which is a dream of mine – I also know it might not be feasible at this time, so I don’t have my hopes up), I guess we could try to sell while being built and hope it sells just prior to completion. If sells prior, there is the option of living with my parents for a short period. If it doesn’t sell, then we are stuck with 2 mortgages, which means one of us might need to get a part time job until the current place sells.
I’ve had my dream house plans picked out for years now. Joel likes them as well. Did you know it cost a small fortune to obtain those plans with the ability to make changes to them? Guess if we are able to build at any point in our lives, we will just have to see what plans local builders have.
The houses in our neighborhood do tend to sell fairly quickly but would it ours sell quickly. So many ifs, ands and buts when selling/ buying a house.
All this gives me an idea why some people stay in their current place and either make it work or build onto their current place to make the room they need.
Unfortunately, out current place just can’t work much longer for us and if we build on we will never get the $ back as the houses in the neighborhood we live in are not selling for that high.
So it seems as if is coming down to two things:
- We need to win the lottery. Guess I need to start playing.
- We need to find that $ tree that others have seemed to have found but kept secret/ hidden/ cloaked.
It will happen I know and I think we are more determined at the moment then we previously were. I can definitely see why we would go back and forth on the topic so many times; you get excited and discouraged at the same time.
So the first step is to sit down and figure out the #s especially since the online calculators were NO help at all. Once we have the #s we are comfortable with (we don’t want to be house poor) we can start looking, getting info on if building is an option for us.
Wish us luck.
PS – Did I mention that Aden keeps telling us that he wants a pool at our next house. :0