Dec. 11th, 2012

tuzemi: (Default)
Long long time ago,
In a galaxy far away,

...well you know the rest. Weird Al rocks.

Back in the old place I had a job that royally sucked but was nailed to because we Had A House. Then came a new employer and corporate relocation and we became renters again, and after pulling every spare cent of house equity (which still didn't cover our improvements but hey) and living so much cheaper in our apartment because we weren't going to Home Depot buying stuff for it, we cut my school loan debt by 50% and mostly eliminated credit card debt. We're on track to pay off the rest of school in 3 years and finally be free.

But last week we started running some numbers. There are places around here that foreclosed in 2008-ish, then got some serious upgrades, and are now on sale for 40% less than our old place. And the loan rates are under 4% - which is really freaking low. We could in theory be in a house with a lower monthly payment including tax and insurance than our current rent.

If I assume that I will have 12-18 months of employment (big assumption I know, except that I've never felt this good about any of my jobs before), then it becomes in our economic best interest to buy. And if I lose my job before then, a house payment in this area is actually about the lowest cost of living in the entire damn country that is still safe, not totally boonies, and has a decent mix of other jobs for both of us to apply to. And part of our Ireland trip finances included gathering up some cash which turns out is actually enough to cover the down payment.

We've been looking at a particular house for over 8 months it's been listed. I signed a formal offer on it last night.

I'm nervous of course. But hopeful too.

The saga begins again.

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tuzemi

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