Wednesday, September 8, 2010

Every Queen Needs a Castle

They say every queen needs a king... for some that may be true but I think what a queen really needs is a castle. Laura and I have been working for the last few weeks on claiming a castle for our very own, not by the traditional siege, sack and pillage method but rather the hard way: with a home loan. I just have one question... why doesn't anybody ever tell you how stupidly complicated it is to buy a house? I suppose maybe if more people knew what a convoluted headache it is they wouldn't even bother starting the process.


Photo by Laura

Well let me be the first to tell you this is insane! It's not like buying anything else. You may think you have an idea but you really don't. Even buying other things on credit or with a loan like a car isn't even close to this. Before you even start considering looking at houses you need to go to a bank and get a loan pre-approval to find out how much money you can actually get for a home loan. After filling out a small mountain of paperwork this can take about to week to even hear back about. Then you can start looking at houses, which is it's own kind of insanity. Houses can look great in pictures, and when you go there you find out that it was photographed from the one angle that looks good or that it ends up being much smaller than it looks. Others are on great pieces of land but the houses themselves are nothing you'd want to live in. And then there are the ones that are very nice but you come to realize they're not nice enough for the neighborhood that you'd be stuck in. A good thing to remember, if there's anything wrong with the house itself, that can be fixed. You can't fix where it is.

If you're lucky enough to find a house you like in a location you can live with that is in your price range that's when the REAL nightmare starts. Anybody who thinks they can do this alone needs to just check into a nut house right now. GET AN AGENT! Somebody who knows what the heck is going on and will hold your hand through the process is worth their weight in gold. So then comes the even bigger mountain of paperwork and the initial offer. Unless you're made of money you're going to offer less than the asking price. Then the negotiations happen to actually settle on a price the seller will agree to. Oh and as a fun little item to nag at your paranoia, at a time up to this point another buyer can swoop in with a better offer or cash in hand and snatch the house out from under you.

Photo by Laura

If the seller accepts your offer it's still not over. Next comes the inspection. Then possible re-negotiations based off what the home inspection reveals. Then the massive slog of closing which involves a small army of bankers, realtors and lawyers who wrap everything up in red tape. All so you can sink into the single biggest debt of your life. Why do we have to jump through all these hoops just to go into debt? Just take my money please! For the record Laura and I have made an initial offer and are waiting to hear back about that. That really is all the worst part. The waiting, the down time between each one of these steps really drives you crazy. Keep your fingers crossed for us.

2 comments:

  1. Who would have thought it would be such a hustle "just" to get a house?

    ReplyDelete
  2. It's such a standard thing: everybody needs a place to live. One would think it'd be more routine than this.

    ReplyDelete