Today, Nick and I signed the next 25 years of our life away.
On this little beauty…
No, you’re not imagining things. Yes, it’s the same house I’ve been showing you pictures of for the past two years. It’s the same house we’ve been living in since we moved to Weirton two years ago. But we’ve been renting this house for the last two years, and today, we bought it.
We absolutely lucked into this because our landlord is an awesome lady who isn’t interested in owning this house any longer. She doesn’t want to pay taxes or homeowner’s insurance, and she doesn’t want to be responsible for repairs, etc. It just so happens that my husband is an extremely handy individual, so repairs aren’t a huge issue for us (*knock on wood*). And taxes and insurance, although additional expenses, are totally worth it to us… to be able to say we actually OWN our home and to know that we aren’t “throwing away” rent money each and every month.
Oh, back to the reason we’re so lucky… We’re very lucky because our landlord owns the house outright, and she’s holding 100% of the financing for us. I’ve heard horror stories about how stressful it is to buy a house, with all the red tape and paperwork, etc. And we had none of that. We simply met with the seller a few times, sat down and agreed on the terms, and then signed a contract. And now we’re homeowners.
I think we got the house for a very decent price, considering it’s a nice, solid, brick home in a great neighborhood (with the best yard in the neighborhood, too!). And she offered us a ridiculously low interest rate that we never would’ve gotten from a bank. She even let us decide the length of the contract… initially, we were thinking 20 years, but we increased it to 25 years so that we could lower our payments some. Now, our mortgage payment is actually $100 LESS than what we were paying her in rent… which will cover the insurance and taxes.
So, we’re pretty excited. I’m not sure I really “feel” like I just bought a house because it was sooooo simple and stress-free… not that I’m complaining! Nick and I have lots of plans for our new house. It’s definitely not our “dream home,” by any stretch of the imagination… but it oooooozes potential. And… it’s ours! 😉