I just turned in rent for my final month in this apartment. It came with the realization that "Wow, we're really doing this." Tommy has voiced his concern that I will miss this place once I'm gone. And, while I have enjoyed these apartments, there are SO many things I am NOT going to miss about them that I don't foresee that happening. Besides, that whole home-attachment thing usually happens to people with much deeper roots than Kiera and I have ever had the opportunity to plant in the ground. I've had twelve "homes" since I got my first place at 17 (and most of those moves were from one city to another), so I know better than to invest feelings into places.
My apartment was kind enough, given my 2+ years as a stellar resident without so much as one late rent payment, to raise my rent $110 for the month of August, since it's out-of-lease. While I expected some rise, I was a little shocked that it was that much. And the check for $910.34 I wrote out today (rent + water, which is paid to the apts) solidified my decision to buy a home. My rent + ins. + taxes won't be near as much as my rent in this much smaller apartment. Of course there will be some additional expenses for repairs, but honestly the apartments haven't fixed even one non-critical maintenance request I've had, so that doesn't balance much against it.
[Backtracking a little]
I did fill out my paperwork for my mortgage last week. That was an unexpectedly emotional day. I think the stress of the entire transaction (I feel like I'm the one who's supposed to have the knowledge because I keep having to drive the process, even though I have NO experience in this) was bottled up and came raging out at the very moment I was looking at the numbers. And I began to cry. Not your typical, tears in the the eyes crying, but bawling, hyperventilating crying. Part of it was the numbers--and being terrified of using all the money I have towards a down-payment and closing costs, and part of it was the compilation of the stress (see preceding sentences), and part of it was just that I was so embarrassed that I had begun crying that it made me even more emotional. But the loan officer I was working with was super nice about it and when I went back the next day, I was completely okay with the numbers and signed my life away. Well, not my life but certainly a good portion of my income for the next 30 years. Keep in mind that, for someone who has never financed anything (car, furniture, etc), acquiring that much debt in one single transaction is incredibly overwhelming. So with all that being inherently known and with the support of my home-owner friends who reassured me that crazy is just part of the process, I'm feeling like my breakdown was nothing out of the ordinary and it's time to move forward (emotionally). If I weren't the person I am (thoughtful about finances), I wouldn't have had the breakdown...but then again, I wouldn't have negotiated a killer interest rate or minimized my closing costs or (probably) had enough money to put down to avoid PMI. So it's a good attribute--it just sometimes leaves me in angst more than others.
Another look at the numbers and I realize that not only can I afford this house, I can afford to pay it off in 10 to 15 years, which is exactly what I intend to do! :)
Once we move in (mid-to-late August), I'll have a few things to do to the house (it is not turn-key ready), but once we get all that done, I'll post some pics. Also, Jana is planning a house-warming party for me mid-Oct (she has to have her stem-cell transplant and recover first), so there will be more details of that in the upcoming month.
The appraisal and pest inspection is set for Monday, so hopefully everything will go well there and then we should be 100% in the clear with no additional hurdles to overcome.
More updates to come, but things are looking really great! :)
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