OMG we're under contract on a house. We were out with our real estate agent and getting disappointed because anything that wasn't a fixer had something wrong with the location. This was the very last house we looked at and we loved it. It's just a few minutes walk from the shops and restaurants in downtown Ballard. Nate can walk to the connector and I can walk to my bus stop. It's the smallest house on an expensive street which is smart from an investment standpoint.
The inside definitely needs work. The floors REALLY need to be refinished. Several windows need to be replaced. Many of the appliances could go at any moment. The electrical and plumbing are in need of updating. The sewer needs to be fixed. It's a shame that it wasn't well taken care of because the house itself is great. It has really high ceilings and a really nice floor plan that fits our needs perfectly. We're really excited to work on it over the next few years.
So I've watched a lot of these home buying shows on HGTV and still didn't really understand how stressful the process is. They often end the show with the offer getting accepted and you assume after that it's smooth sailing. It's been over a week since our offer got accepted and I still feel like everything could fall apart at any second. The negotiations for repairs were stressful because this is an estate sale. I felt the seller took us asking for repairs as an insult to his late parents, which was something I didn't expect. For us it's a business transaction and an exciting time, but it must be difficult selling your family's home for less than you think it's worth.
Now we're worried that something will go wrong with the appraisal. There are so few sales in that neighborhood (I think it's a good thing that people don't want to move?), coming up with fair market value was difficult. Our lender assured us that it would be fine and we wouldn't knowingly have overbid on a house so hopefully all goes well.
We went to Home Depot yesterday to start adding up the costs of all of the things we need or will need in the first year. Turns out things that we need aren't that expensive if we do them ourselves, but if we hire someone labor costs won't be cheap. With that being said, Nate's dad is visiting a week after we move in and my parents are visiting for Thanksgiving. We're hoping they can teach us how to do some of the easier projects because we are clueless about this stuff. We actually tried to buy some tools yesterday and gave up. What is the difference between a $100 drill and a $400 drill? LOL we have a lot to learn. If all goes well, closing is on Sep 25th. I'll keep you posted.