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A retelling of my life in DC and all the stupid ass sh!t I get myself into...

House Hunting

The past few months have found me house hunting for something nice, safe, and not insanely priced in my area. Let me tell you, that is no easy task! Taking into account my requirements, the miss' requirements and adding in financial restrictions deff. makes this a task. Also, I'm betting that the interest rate is set to go up soon. And for every 0.250% jump in rate, that's approx $15/$100k borrowed increase in monthly payment. Now, that might not seem like much but in a housing market that is already very expensive every little bit helps!

On a whim, we drove past a new construction development this past weekend. They were open, so we walked around a few properties. Fortunately, or unfortunately depending on how you look at it, there was one there that fit just about all of the wants/needs on the list! The catch, it's at the tippy top of the budget. So, now we get into the waiting game to see who needs who more. Do we want this place more than they NEED to sell it? That is the 1/2 million dollar question. If the developer can bring the incentives and offer the same unit for what it sold last month or less and the bank can play ball with a better interest rate, I think we'll be there!!

This is still a TON of money, but a house is supposed to be one part home one part life style and one part investment, right?


posted by Cptn S.A. Ho @ 9:55 AM,


At Wed Mar 02, 01:07:00 PM EST, Blogger Mr. X said...

If you buy new development, you will probably overpay and end up regretting it in the future.

Caveat emptor.

At Wed Mar 02, 02:48:00 PM EST, Blogger Cptn S.A. Ho said...

Is this true for all new dev? The units I've been looking at are inline with the prices in that area.


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