Tuesday, May 22, 2012

Adventures in First-Time Home Buying: Ponying Up the Money

Saving My Money to Buy a Dream

I'll be honest, when I decided to purchase a house I knew about having money for a down payment and closing costs, but was naive about other expenses.  I've never been good with managing my money nor have I been good at saying "no" to others who ask when it comes to fundraisers - raising funds to provide wigs for bald squirrels? If you asked, I probably donated to your cause.

Sunday, May 06, 2012

Adventures in First-Time Home Buying

I've been meaning to gather my thoughts since March on this topic to share my adventures in first-time home buying. Yes, at 42-years-old, I have not had the pleasure of owning my residence and going through the process of becoming a homeowner honestly scares me. Both from a long-term commitment and financial perspectives. A 30-year mortgage means I'm tied to it 'til I'm 72???

Since leaving home for college, I haven't lived in one place for more than four years, right now I've just hit my four-year anniversary with both my employer and residence. Am I ready to plant some roots?

I'm in the inspection and assessment process right now of a Southwest Florida home. Since I'm seeking a USDA loan (yes, the United States Department of Agriculture offers 100 percent loans for those looking to live in what they consider "rural" areas), the process is a little more "regiment" (i.e.: nerve-wracking!) compared to if I was a cash-buyer or conventional loan. Since the Southwest Florida real estate market is hot, I was lucky to have an offer accepted.

Stay tuned for cheers and tears from this first-time home buyer.