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Homeowners and Landlords

So what I’m hearing is that what we are going through right now is what (most) every home owner out there has been through.  All the emotions. All the uncertainty. All the fear. We have found a house that we think will meet our needs for now. We’ve made offers and counter offers until we have come to agreement on a price. Now we’re in our fifteen day options period.

What we were looking for is a three bedroom in a decent neighborhood for half the price of anything we’ve seen on the market. Fat chance. What we have found instead is a three bedroom house with an attached one bedroom apartment that can be rented out. So now we’ll be home owners and landlords. The contribution from the renter will help us make our monthly payments and will, in a sense, allow us that three bedroom in a decent neighborhood for half the price of what we’ve seen anywhere else. We think it’s a good thing. And perhaps, when it’s time for us to move on to the next house, we can rent out the top floor to a family and make the whole thing a rental property. But one step at a time.

We’ve got our lender all squared away. The lender has ordered the appraisal, we’ve scheduled the home inspector for Friday, and we are driving to Fairbanks on Thursday for doctor’s appointments and to see the house again. We’ve been told by some that we’re getting screwed, we’ve been told by others that we’re getting a great deal. I’m guessing that the truth, as usual, is somewhere in the middle.

Though the house is not all we’ve ever dreamed of, we’re so concerned about everything going right and everything working out for this house that we’ve wrapped ourselves up in wanting this house.  We’re getting excited.

Posted on Thursday, May 22, 2008 at 01:00AM by Registered CommenterBrian Rozell | Comments2 Comments

Reader Comments (2)

Congrats on finding something that suits ya'll. Teddy and I have owned our own home for almost 3 years and sometimes I still pull into the driveway and think, "This is MY home." It is a cool feeling and I hope it never goes away!
May 22, 2008 | Unregistered CommenterMel
Congrats!!! No matter how much you worry about this and that, you'll make the best of it and eventually all will be fine. See you soon!
May 22, 2008 | Unregistered CommenterDad (Opa)

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