Sunday, March 4, 2018

a little debt to a lot of debt:buying our own place

You guys, let's get so real, this has been the longest two months of my life. I truly don't know that I looked forward to my wedding as much as I looked forward to this life event. 
Okay, a condo. But that's part of the story.
In January I wrote about my word of the year which was patience. The year of 2018 was supposed to be a time of saving money and being patient until we could buy a house. 
Then. We looked.
Never look.
Just kidding, we are extremely glad we did. But you know. Never look.
Our friends actually got us looking because they were about to buy a house, and the logic they had for getting into a house and building equity (let me just casually throw in the word equity here, like an adult) in a place that's growing like crazy made total sense to us.  This hadn't come out totally of the blue, we had been talking to a loan officer since last year to try and figure out what we wanted to do. Last year we didn't look, we just tried to figure out what we could afford, how much of a down payment we needed, etc. But after multiple conversations with our friends we were like yeah, this totally makes sense.  
So we started looking. Turns out, you qualify for houses you can't actually afford! We qualified for a $450,000 house, and thinking we were super responsible and budget friendly, we were looking in the $350,000 range. We were looking for our forever house! 
SPOILER: No way in hell we can afford a $450,000 house. We know that now. But that could have been sketchy sketch sketch. 
We found some places we loved, but after crunching numbers for what felt like eternities we realized we probably wouldn't be able to travel (or eat, put gas in our cars, pay our phone bill, etc). That wasn't okay with us(especially the eating part)
So we stopped looking, somewhat to the conclusion we would rent for a year or two longer.
I mean, I told Mark we were done looking. 
I still looked, because hello, welcome to me. 
Out of curiosity I started to look at options that were muchhhhh cheaper. Those muchhhhh cheaper places were actually very nice. Sure, you may have to share a wall with someone, but you could also go on more than a few vacations a year(and ya know, eat)
Through this process I realized that we 100% did not need to be looking for our forever house. We are 26, our plans are for sure going to change, we won't want to be in a place forever and what were we even thinking! We also learned, thanks to many phone calls with my Dad, that your mortgage should only be 25% of your gross monthly income. Thanks Dave Ramsey! (Don't let yourself be oversold, it's super dangerous and I get anxiety thinking about what would have happened if we would have gotten the $350,000 house) 
Once we figured that extremely obvious fact out, things went very fast. As in, the next day we had an offer in on our place.
That's the thing with Utah County, and maybe just Utah in general, things go quick. Like, we had an hour to decide, quick. Luckily it was really obvious, but it's a super stressful process because you have this place you LOVE, and you don't want anyone else to have it, but it's the biggest decision you have made up to this point in your life and so you kind of want to think about it, but also Brady the realtor needs to know right friggin now!!!!!(we trust our realtor and there were other occasions he told us we would be fine to have some think time, but this was not one of those times).
So, we put an offer in. Something much more affordable and the best part, brand new. We are the first people to live there. They just finished a few weeks ago. 
So we had all of this adrenaline and we were ready to move fast and close this sucker up when..
(brakes, like a sound effect, ya feel?) 
Yeah, turns out buying a house takes a real long time. It was weird because at first everyone was like "k, hurry! hurry! hurry! let's go!" and then as soon as we committed everything slowed right down, to the point that sometimes I had to be like "soo...we still buying a house and stuff?" but once a week or so we would get a cute little video from our loan officer (who has been wonderful and I would totally recommend her if you need someone) telling us what was going on with our loan, so we were assured that things were moving forward. 
Even though things were moving forward, it still didn’t feel like a sure thing. They even told us not to buy furniture or get too excited until we were a few days away from closing, so we window shopped and tried really hard not to get excited, which was not super easy. The further along we got in the process that harder it was to be patient in our basement apartment that we outgrew. 
Luckily, we eventually got the "this is a pretty freakin sure thing" and we were able to start getting excited! 
We got to our closing date, successfully closed and got the keys the next day! That was on Tuesday, and we have spent the entire week moving our stuff in! Last night was the first night we slept here. Last night, we got a cheat meal from R&R, I took a bath that was in my own place for the first time in over 6 years, we laid on our couch and watched TV. It felt so perfect, and we are so truly happy to be on our own.

I wanted to leave on one last thought...
I was kind of embarrassed for people to know that we bought a condo. I didn't want to tell anyone, purposefully trying to leave it vague so that people didn't judge us. It was then I realized that social media has GOTTEN TO ME.  I would never consider myself a person who gets jealous/plays the comparison game with social media. I don't really get jealous to the point of detriment about people's clothes, cars, children, food, travels etc. but apparently I was playing the comparison game with houses.
I have realized that I have seen so many people my age that I follow buying houses, big houses where they don't have to share a wall with anyone. I was so embarrassed by our condo, humiliated by the fact that it was all we could afford. I didn't really know anyone who bought something as small as a condo, at least I wasn't seeing it online, so I felt like we were not normal for only being able to afford a small place at the beginning. Then I realized that building a shiny, brand new house when you are 26 is the thing that is not normal, as in, it's not for everyone.  It's been a very good life lesson for me. That is why I wanted to post a lot about our place, to show that someone can be excited for this point in their life, even if we do share a wall with a stranger. This is a big life moment, and it deserves to be celebrated too. I hope this very obvious thing can help someone in the future!

Speaking of helping, when we were trying to buy our place, we had so many questions and there just was not any adequate resources online that helped me to feel confident as we went through this process. I want to write a post of questions that can hopefully help some of you that are buying for the first time.
If you want to submit a question, click here. I'm hoping to get that up next week!

Thanks to everyone for being excited for us! We are on cloud nine. Here are some pictures from our listing, I'm excited to get it all finished and take some pictures. 

bedroom 1

bedroom two


 photo riley-sig_zps51d1cb9c.jpg

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