Tuesday, December 8, 2015

House Story

Our House Story | How years & years of browsing homes finally paid off when we purchased a foreclosure in need of some serious love!

Read our house story!

I’ve been a fan of fixer uppers for a long time.

When the housing market collapsed in 2008, our area was hit with tons of foreclosures.  At the time, my husband worked for a general contractor & got to work on several foreclosures.  I absolutely loved seeing the transformations & became a huge fan of fixer uppers.

I then made it my mission to buy a fixer upper.  For years & years, my husband & I toured many houses that had seen severe neglect.  We tried to purchase several homes, but we could never get the logistics quite right.  Money was a huge part of it.  At the time, foreclosures were all about cash buyers & getting a bank loan on a foreclosure can be tricky & usually the seller didn’t want to wait around for a bank loan when they have someone with cash in hand.

In the summer of 2015, we finally started getting serious about home buying.  We started working exclusively with one realtor & she requested a list of what we were looking for in a home.  We had finally accepted defeat & decided to go the traditional bank loan route with a 20% down payment & a 30 year loan.  No more of those fixer uppers!  We were going to buy a real house that didn’t have any problems qualifying for a loan.

I can’t remember what exactly I put down on our list of house desirables, but I do remember adding a little thing at the bottom that pretty much said:

‘…& any foreclosures!’

In the meantime, we contacted banks & got preapproval letters…

& then settled on a foreclosure in a cash deal!

We kind of stumbled upon our house by accident.  It was a foreclosure in our home town.  We toured it a couple times & decided to put a bid in on it, not expecting much because of our past failures at trying to buy houses.  Imagine our surprise when our bid was accepted (It’s my conspiracy theory that we were the only people bidding on this house!)!  We then got our finances in order & purchased our home in late 2015!

Some foreclosed houses are still very nice despite going through possible years of being uninhabited.

Our house was not that lucky.

We could tell there had been a few feet of water in the basement at one time, which pretty much ruined the furnace & hot water tank.  Our water pipes are also all burst from not being winterized in time.

On the upper levels of the house, the floors are severely pet stained & overall, the house is quite outdated.  There are approximately one million things to do!

It’s going to take a lot of work to get this house back to being a home!  The good thing is that it didn’t seem like anything we couldn’t do ourselves so that’s why we decided to take on this project.

I can’t wait to see how it’s going to turn out!

Our House Story | How years & years of browsing homes finally paid off when we purchased a foreclosure in need of some serious love!

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