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Advice: to offer or not to offer.
So my DH and I been (seriously) saving to buy our first house for about a year, but I got laid off in January so we stopped looking. I was working 16 hours (sometimes more) a week at that job. I do have a small part-time job that I work 8-12 hours a week now that I started in December to boost our savings, and it pays about $2.50 less than the job I had. I was trying to figure out what I 'wanted' to do, but I'm about to just take what I can get. My husband is in decent paying job that is less than secure in this economy (what job isn't though?).
This week a house in our ideal neighborhood, in fact, our ideal street came up for sale. I went to the bank yesterday, and we were easily pre-approved for it. The mortgage going to be about $1040/month, which is twice what we pay in rent now. We can easily put 10% down, but we don't even have 20% in the bank. After closing costs we'll only have about $5,000 in the bank. Because of the neighborhood it is in, it will not stay on the market long at all. We're going to go see it tomorrow and they're having an open house on Saturday.
We love the outside of the house. It already has a privacy wooden fenced in backyard, which is a must since we have a dog. The current owners renovated the house: replaced carpets and counter tops at least. Its actually one of the houses that we've seen and said we really liked. Its on the same street as my in-laws, which is what we want.
The issues are I don't have a decent job, and we don't know if we can really afford it. We did the math, after bills we'll have about $1,300/month for groceries, necessities, pet supplies, etc. We don't know it that is too much of a risk. We already know we won't be able to buy furniture, but we don't want to have to try to sell it a couple months after just because we over extended ourselves and didn't have a cushion.
We have asked for advice and we get about a 50/50 response. So what is ya'll opinion?
Re: Advice: to offer or not to offer.
I know it's hard but do not do it! You are not working much and your DH isn't in a stable job. If you are already concerned about affording it, it's not a good sign. You'll likely have increased utilities, maintenance, and there are always
It sounds like you guys have worked really hard to save and plan for a house. I totally understand how hard it would be not to jump on your ideal house when it comes on the market.
The worst thing that could ever happen though, is to ruin your cr
I think you are over reaching! I know it's disappointing, but it's better to live in a smaller house or something that needs some work to be done (that you can do gradually over the years). Not having enough cushion and money in the savings you ar
Bummer... It sounds like it is out of your range right not.
Hold on and get settled. There will be something great for you when it is time!