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 Buying a house
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| Author | Topic: Buying a house |
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Ishabett Member |
posted 07-15-2005 03:58 PM
  
I could have a great opportunity to buy a house. I am a single parent and I do not recieve any child support. I work at a law firm as a legal assistant but believe me I am not making a whole lot of money. The who wants to sell the house has already found a mortgage company and he will pay all closing costs and he if necessary will put the 10% down on the house for me to get it. My credit is ok, I mean it is not the greatest and it is not the worst. But the company is willing to try anyway. The is only $48000, it is 3 bedrooms 11/2 bath. It is only 1178 square feet but it is 1 1/2 stories. I like the house. I only have one child and I have NO plans on expanding my family in no way, shape or form. My boss said that I should look for a bigger house but I know that I cannot afford a bigger house and I like this house. Yes it is small but I don't have any friends that visit my mom's family does not live any where close to this city and my Dad's family could care less about me. If they see me they speak. I am not buying a house for entertainment but have peace and quiet because I live in government housing. It is a town house but my neighbors and I don't get along. My daughter loves the house. Is 1178 to small of a house to live in with one child? the electrical wiring was just re done this year along with the plumbing and painting and the roof is only 3 years old. Am I getting ripped off. If this is not enough information please let me know I will answer all questions. I need all the opinions I can get. Thanks |
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Bluebird Member |
posted 07-15-2005 08:48 PM
If the size of the house is enough for you and your daughter, that is all that matters. Everyone has different space needs-- look at some of these mansions that people live in. Who needs all that space?? You do need to hire a home inspector (independent of the seller). You'll want someone who has your interests in mind to inspect the house. Ask people you know to refer you to someone. I wouldn't ask the seller to recommend someone. It's really important that you be present for the inspection and that you listen carefully to what the inspector tells you. If you could have that done before putting a deposit on the house (if you even need one-- sounds like the seller might be offering to pay that), it would be best. I'm a little leary of a seller who wants to give you money down and pay the closing costs. Is this person a friend of yours, a relative? It is so generous, it sounds suspicious. You don't mention where this house is located. The price you indicated is very inexpensive for a house that size. Do your homework-- maybe ask a trusted friend to look into things with you. I don't know what else to say-- except be very careful. Good luck. |
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MN110 Member |
posted 07-15-2005 09:18 PM
Ask your employer to recommend a lisenced realitor. Since you work in a law office, you may have a good resource to find a good one. I wouldn't consider buying a home with out having a professional realitor who is looking out for your best interests. |
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bonkers Member |
posted 07-27-2005 12:09 PM
Agreed! Be careful, you don't want to get into a thirty year mortgage with a house that you have to spend more in repairs than you do in mortgage! Have it inspected! Actually, I don't think a bank will give a loan on a house without an inspection. Congratulations though, I did the same thing last year and it feel wonderful! I too am a single mom with no child support and it is possible! I don't know where the house you are looking at is located, but I paid three times that price for a three bedroom two story, 1700 sq ft. Good luck! |
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