Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Found a house we love...
But it's at the top of our price range AND our house doesn't go on the market for another 3 weeks!
This is the first home we've seen that I would be sad about not getting. It's exactly what we are looking for, but we'd want to finish the basement shortly after moving in, as the "play" space in the house is significantly less than we currently have, and we'd have lots of toys without a home. So combine that with the fact the house is already at the top of our price range, and I'm freaking out a bit.
I need someone to talk me down.
Re: Found a house we love...
The house sounds exciting! I might try to get estimates for finishing the basement after it's on the market just to get an idea of how much it would cost.
How did you find out about the house if it's not even on the market yet?
We have increased our price range after looking at houses b/c we realize that what we want costs more. That said, our new price range is consistent with what our lender feels that we can comfortably afford and we're not looking as high as we're pre-approved for. We don't want to be house poor.
So, if this is the high end of what you've decided you're comfortable with then it might be ok. If this is the max you would be qualified for...then I'd be nervous. People get approved for too much, IMO.
Also - I know plenty of people who have ended up with 2 mortgages. Some for over a year. You might need to talk to your realtor about how fast you can expect your house to go based on the market and similar sales.
The house we love is on the market. OUR house doesn't go on market for another 3 weeks. Then we still need to get an offer!
As for price, it is at the top of what we feel comfortable spending. I have no doubt we will qualify for a mortgage.
Since we finished the basement in our current house, we have a pretty good sense of what that will cost. We are looking at how we can come up with that money while paying a bigger mortgage and still maintaining a comfortable emergency fund.