Friday, August 04, 2006

HUD for 100...please?!

Buying a house isn't all that much fun. Not when you're destitute anyway. Alright, we're not destitute, but trying to buy a house makes me feel that way.

Recently a saw a picture of someone's new home under construction and it made me a little jealous. Not that it was big because after living with our coach in his spacious home I've decided that is too much square footage for me to take care of. And it’s not because it’s new because I'd rather have an existing home that has some character and big trees in a well established neighborhood. I'm jealous because they can afford it.

Bob and I both work hard and make fairly good money; especially when you take into account the lack of degrees we hold. So why when we're looking for a home can't we find anything in a nice neighborhood and that isn't falling apart? We're really looking primarily in West Valley, though we'd love something in Taylorsville. We have awesome credit and the only debt we have is our car. We're not looking for anything too big or too lavish. But man our choices are limited. We've been looking mostly at foreclosure and HUD homes because that is all our budget will allow.

I am confident that if we're patient we'll find something that works for us. It’s just a little depressing in the mean time that two very hard working people who have tried to be smart financially can't afford a reliable roof over their heads. It makes me really wonder how people out there less fortunate than us make ends meet. It is upsetting to me that while interest rates, housing costs, gasoline, health care, and energy costs are all rising (some quite rapidly) that wages remain stagnant and in many companies (airlines for example) they are taking pay cuts. Though I'm not sure many CEO's would say they are feeling the pinch.

Bob wants to be a fireman (starting pay around $30,000); I want to stay at home with our kids- is that even realistic? Thankfully we pay our tithing, we know how to be frugal, and my mom taught me to reuse sandwich bags. We'll work it out. But not everyone out there is as lucky as we are.

Please, post a comment, I like reading what people have to say about the topic, or what I wrote.

5 comments:

Anonymous said...

What is the significance of the "100" in this title? And sorry you didn't get that first house, but I know you didn't want to pay THAT much for that little place! Be patient . . . I agree. something will work out that will be just right for the two of you at this stage of your life. xoxo Mom
PS: remember to check out lonsberry.com

heidi said...

I know it's frustrating, and I am SO glad Jon and I bought our house when we did, otherwise we wouldn't be livin' in it now!
I think our generation wants it all now. We don't stop to think that what most people have, they've had to work for over a period of years. You guys are still young. Ask mom, or Bobs parents when they got their first house, or what their first car or place was like. Some people are fortunate to be rich, but most of us are in now, or have been in your same boat.

Anonymous said...

Agh! Qwet yer wynin, wee wun!

Okay, more seriously, house hunting does take massive amounts of effort and searching when looking for something "in your price range." That said, I have no idea what that range is. However, I might suggest considering the possibility of something just outside of your "range." Now don't puke, just consider it. And I mean only SLIGHTly out of that range. It's generally pretty easy to get an INTEREST-ONLY LOAN, which is a loan where you do what it says, pay the interest only. Any financial advisor can tell you that with the equity you'll have in your home with an IO loan, you can invest it (or have someone do it for you) and make plenty enough to pay the principle with ease.

Granted, I've just thrown a lot of financial jargon at you, but dive into it! See what you can learn. A lot of people's problems these days is they usually do things the traditional way cause that's what they know. In such times of trial and tragedy, at home and abroad, the unconventional thinking can dig you out of lots of holes, without actually doing the shoveling. Maybe a condo would be better for just the two of you. Lower overall cost, but cozy for two, and still property you can own...crap, I sound like such a salesman.

Bob's gonna be a fireman?! Mmm, even more yummy! HA! And I know you'll ask, so I'm doing well. Med-school in two weeks?! Psh, as if you expected any different. Peace out!

-James Davis
james_davis0@hotmail.com
401-226-8651

Anonymous said...

Don't be snide, dearest daughter .(referring to your response #2)

Alicia Farmer (Jordan) said...

I know what you are going through. We have been looking for a long time now for a house but when we first started looking we were being really picky but it seems in this market you can't be picky. We are kicking ourselves for not buying a house that we liked but we looking to see what else was out there. That same house sold for 20k more than what they were asking when it first went on the market. But you will find something I promise (this is the same thing I have to tell myself)!