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Tuesday, April 7, 2009

Home Purchase Plan - How I faired

Back in January I developed my Home Purchase Plan (HPP for short). I listed exactly what I was looking for in my new home including my needs and wants. I printed up my HPP and carried it will me everywhere. I especially took it with me when I went house hunting with my agent. I had a momentary relapse (I'll explain more on that on another post) but got back on track and stuck to my guns. I ended up with a beautiful house that fits all my needs and wants.


The home I want:

Price: $0 -> $190,000 $180,000

Ideal Monthly Mortgage (including taxes, PMI, HOA, & hazard): $1200 (max $1300) $1310

Location: Surrounding Orlando Area Check

Bedrooms: 3+ 4

Bathrooms: 2+ 2

Square footage: 1700 s.f. + 1810 sf

Year Built: 2000+ 1998

HOA: $100/month max $150/yr


* A-rated school district Check
* Quick access to major highways Check
* Good daycare Check
* Nice neighborhood Check
* Shower stall Check
* Backyard Check
* Large kitchen with pantry and lots of cabinet space Check (I have TWO pantries)
* Large master bathroom Check
* Walk-in closet in master bedroom Check


* Garden tub Check
* Family room and living room Check
* New stainless steel black appliances (a girl can dream can't she!) I bought them myself

I only had to bring $5300 to closing since I had already put down the $1000 earnest deposit. My closing took about an hour. I got into an arguement with my agent about an hour before the closing. Oh how I wanted to smack the sh*t outta him. Still do.

My total monthly payment is $1310 which includes $216/month for property taxes and $64/month for hazard insurance. Due to a stipulation in the bank's addendum to the contract we had on the house, I had to redo my points and was able to lock my rate at 5% instead of the 4.875% as I previously hoped. I'll explain that what happened in my Dos and Donts.

I am currently in the middle of getting my house painted. I didn't want to unpack my boxes only to have to move everything again so all my stuff is currently in my garage. I wish I could have taken more days off. I have so much to do and so little time.

Alright I am off to bed.


Fabulously Broke said...

That is inspiring.. really. You are so ORGANIZED :)

I took that mini list of "Checks" near the bottom and put it in my list of things to remember when i buy a home.

Kahnee said...

I wish I had been that organized when I bought a house.

velvet jones said...

Good stuff. I'm taking notes and very interested in the agent drama!

Jerry said...

It's a great idea. Everyone should have a layout of exactly what they want and need. If it's in writing it leads you to think more clearly when you're actually looking at the house. Sometimes people get shopper's amnesia as soon as they step into a house. I hope you don't have to pay Private Mortgage Insurance. It's a waste, in my opinion.

Dimples said...

@ Fab
Thanks. I stay organized. LoL. Stick to your list whatever it may entail.

@ Kahnee

Girl I am a Capricorn. Cant help it. I am just as organized when I go grocery shopping. LMAO


Girl wait till I tell you what that mofo.........


@ Jerry

Unfortunately I do. Dont worry though. I got some tricks of my sleeves to get rid of it.

Sistah Ant said...

I'm glad you got most of what you wanted!

from the desk of said...

looks like you did good in finding your dream home...congratulations on your new home and as always thanks for being truly do inspire me.

jackychain said...

Hat’s off. Well done, as we know that “hard work always pays off”, after a long struggle with sincere effort it’s done.

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jackychain said...

I appreciate the concern which is been rose. The things need to be sorted out because it is about the individual but it can be with everyone.

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structured settlement cash said...

My closing took about an hour. I got into an arguement with my agent about an hour before the closing.