Friday, February 08, 2013

A contender

I've been laying here, eyes open, since 4 am. My dog just grunts and stirs then finds a new position curled next to my leg. I have been either staring at the ceiling or browsing the home decorating section of Pinterest on my phone.

My mind will not shut off.

The house hunt yesterday proved successful. The house in Trinity Park proved to need a lot more love and money than I was able to provide.

A second home in Northgate Park had much more square footage and potential, but an add on had a lot of visible damage and no telling what was not visible.

But the third, also in Northgate Park, was just right.
Brick bungalow in Northgate Park, Durham.

It's true that you can feel when the house is a right fit. As soon as we walked inside we had a really positive vibe.

The house appeared to be in very good shape. The two bedrooms were a decent size but the closets were so much larger than expected. The bathroom vanity and toilet seemed very low to the ground, but it was clean and also a good size for the home.

The kitchen was workable, but that would be my main project. I would reconfigure the workspace and cut off a narrow passage to the hall and add counter and cabinet space to open it to the eat in dining area.

There was a large laundry/pantry/mudroom off the kitchen and leading to the fenced in backyard with carport and shed. It even came with a doggie door!

Now comes the hard part, what I hate the most. Deciding on an offer price. I hate the process of negotiation. It stresses me out.

Is it priced right? Too high? What is a good offer? Do I ask for closing costs?
Then because I'm doing a 203k loan, I have to include the cost of my renovations into my borrowing amount. I have a specific total borrowing g amount that I want to stay under. So can I purchase the home, plus make the renovations all under that amount? If I put more for down payment will I stretch my cash reserves too thin?

All. The. Stress.

Plus add to finding a home inspector, a general contractor to write up the proposal for the renovations and being realistic as to what I am capable of doing myself.

I am excited. And nervous. And cautious. Oh, and excited.

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