This one is perfect...

[ScrimpAndSave]

...but considering the fact that I only have about $6,000 budgeted toward buying a house...it is too expensive.

::cries::

Assist-2-Sell, North America’s Leading Discount Real Estate Company

[Broken Arrow]

Oooh look at that! I like the fascade, and it has a nice little curb appeal too. I'll bet it looks pretty at night too.

Uh, sorry. Probably wasn't helping. It does look rather charming.

[ScrimpAndSave]

It is GORGEOUS! It looks tiny in the photo...but it is actually a reasonable size at 1300. It's beautiful inside and out..hardwood flooring...

::sigh::

It has been on the market since June and was originally listed at $240,000.

If I got it for $210,000 with sellers assist (have them pay closing costs), I could put 3% down with an FHA loan. That would make my PITI around $1500 a month...too much for my measly $50k a year. My salary does go up $7,000-$8,000 a year though...


Ugh. This breaks my HEART.

It's totally move in ready.

[meatloafkend]

Over priced! That's all I have to say (although it is breathtaking)

[LivingAlmostLarge]

Charming. I can't believe what people can buy for less than I sold a 1 bedroom condo for! Geez I need to move.

Also why is it a duplex? Is it not a single family?

[DebbieL]

That house would be$400k here (in a bad neighborhood), and probably well over $500k in an average/good neighborhood. Feel better now, lol?

PS - Incomes aren't high here either. Average household income in the 60s.

[ScrimpAndSave]

No. Doesn't make me feel better. I'm a teacher...work my ass off...and still can't afford a house (that isn't a crack house).

Yes, it is a single family home...it is a cape cod and I think the "duplex" was a mistake. It was $240,000 in June...then $235,000 and now it has lowered to $229,000. I am assuming that people will take it off the market before they lower it a lot more.

Oh well. I will keep an eye on it.

[kork13]

Originally Posted by ScrimpAndSave

No. Doesn't make me feel better. I'm a teacher...work my ass off...and still can't afford a house (that isn't a crack house).

Yes, it is a single family home...it is a cape cod and I think the "duplex" was a mistake. It was $240,000 in June...then $235,000 and now it has lowered to $229,000. I am assuming that people will take it off the market before they lower it a lot more.

Oh well. I will keep an eye on it.

I understand on that.... my mother's been a teacher all her life (in, through, and since college), and it was only after 10-15 years doing it that she could have truly been able to care for my family on her own salary if the need arose. And as for the work, she does K-2 mostly, so she'd be bringing home papers, worksheets, and stuff like that ALL THE TIME just to go over them for her kids. I have alot of respect for teachers because of how hard i saw my mom work for it, and yet still enjoy it so much.

As for the house, what could help is if you showed a bit of interest, they might keep it on the market longer, perhaps lowering the price to encourage you buying it. If it's been on the market for a long time, they likely are getting a bit antsy to sell, which could play in your favor... And I agree, looks like a beautiful home.

[ScrimpAndSave]

Kork13, thank you for your post. I know I am coming off as a brat...but I am a music teacher and have 750 students. Although I truly love my students, I cannot believe how difficult the job is.

The good thing is, I have a decent teachers contract. I don't make much this year - but I have more $ coming my way. In 5 years, I will be at $85k.

Until then...I am living at home and saving. I would love to own this home though. It is EXACTLY what I want in an amazing school district and neighborhood.

[aevans1206]

Originally Posted by ScrimpAndSave

Kork13, thank you for your post. I know I am coming off as a brat...but I am a music teacher and have 750 students. Although I truly love my students, I cannot believe how difficult the job is.

The good thing is, I have a decent teachers contract. I don't make much this year - but I have more $ coming my way. In 5 years, I will be at $85k.

Until then...I am living at home and saving. I would love to own this home though. It is EXACTLY what I want in an amazing school district and neighborhood.

Geez! 85K!!! I won't even get there if I'm lucky! And I work for a large metropolis!

(teacher here too...understand your pain, but not too much. 85k???)

[ScrimpAndSave]

Aevans1206 - yes 85k...but not till the 2012-2013 school year.

So, I won't be buying a home comfortably for some time.

My salary looks like this:

(Not counting $2,400 each year for a committee I am on)
2008-2009: $50,296
2009-2010: $59,525
2010-2011: $67,232
2011-2012: $75,849
2012-2013 $84,894

[kork13]

well, if this house has really struck you, the other option would be to move on this house, support the mortgage payment for the next few years with other savings, then banking on the higher salary, you could replenish those savings later on and as you say, comfortably own the house.

However, there is a fair bit of risk in this, and that "support from other savings" would have to last 4 years, so probably wouldn't be the wisest choice for you right now........

[ScrimpAndSave]

No Kork you are right...it probably isn't the right time for me.

I have a plan to live with Papa Bear (paying him $400 a month rent) and then buying around January 2011. If I wait till then, I will have approx. $90,000 in my savings account.

Right now I have $6,000.

So it is either:

Buy a house immediately with $6,000 in savings with a salary of $52,000.

Or

Buy a house in January 2011 with $90,000 in savings with a salary of $70,000.

Hmmm...not a hard decision...I'm just so damn impatient!

[disgruntable]

That's a beautiful home. Keep up the hard saving and you'll own it one day!