Buying a House

H wants to move closer to his work in the coming months. Depending on how close we get, it'll add 1-4 miles for me, which could mean the same commute up to 25 minutes more (obviously I'd be pulling for not increasing my commute; I'm also looking for jobs in that area). [Edit in response to comment: The freeway up there has some ugly traffic, which is why 1-4 miles could mean an extra 25 minutes, but it's possible I could avoid it by leaving the house/coming back at a particular time] Our lease expires in May, and the landlord has agreed to let us go month to month.

H's mom has offered to give him a lump sum to purchase a house. Neither of us is exactly sure how much that will be, but probably between $200-300k.

He has no credit and no debt. I personally think he should only spend whatever his mom gives him, and not take out a mortgage (with no credit, I don't even know if he could?). Where he works is a fairly cheap part of SoCal, so I think it will be doable. He's leaning toward a house, and I think he'd like to stay in it for maybe 5 years (I don't know what will happen in those 5 years, but it's probably still pre-kids age for both of us). But he doesn't seem to want to talk or think about the whole process, he just wants it to magically happen. I've sent him some Redfin links, but otherwise I know very little about what's the best course of action. Find a realtor? Stick with Redfin?

There are a lot of things going on for me from May-July, so my main concern is that our living situation is stable during that period. That would either mean leaving at the beginning of May, right when the lease expires, or doing month to month until August. I know he really hates his commute, but I also don't want him to rush into buying something just to quickly fix that issue.

Any advice?


Michelle said...

I would definitely not rush into buying a house. We were a little rushed and it's not a good feeling.

Chocolate & Chants said...

That's a nice lump sum, but I *personally* wouldn't rush into buying a house. Getting ready to buy a house/buying a house requires a lot of research, and it sounds like you guys are just throwing around some ideas for now. Owning a house = a huge responsibility. Just the fact that he magically wants it to happen perhaps shows he's not ready for it?

Also, 1-4 miles isn't that much of a difference (unless those 1-4 miles are total gridlock during rush hour).

Whatever you guys plan on doing, good luck with it!

- Chantalle (

fred said...

Buying a house is a great goal for the New Year. Make sure that resolution has some back up with a life insurance policy. You can get a quick and easy quote from IntelliQuote in just minutes. Find out how little it could cost to keep (and protect) that home for future generations.

Calvin said...

Well, there's no need to hurry yourselves in moving to a new house. It’s best to know all there is about the vicinity of your target house so that you can weigh these in along with the other pros and cons of living there.

Calvin Mordarski

Complete Digital Products said...

Buying a house is a huge undertaking, make sure that you get Debt Consolidation if you need too.

cruzcarlopaydayloans said...

Getting a house is one of the investments that most people are trying to have. With this, people will be able to get a good place to live in for their entire life. One can use simple loans in fulfilling these dreams.

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Mica Blake said...

I agree with Chantalle. You shouldn’t rush these kinds of things because it’s a lifetime investment. You might regret it big time if you go for it now. The best thing to do is to evaluate your financial status first. If you’re not stable, then it’s best to wait and work hard until you’re okay.. That way, you’ll know for sure if you can handle paying for mortgage. Anyway, I wish you guys good luck!  
Mica Blake

takeshi007 said...

Your lender will require a home appraisal anyway. But that's just the bank's way of determining whether the house is worth the price you've agreed to pay. Separately, you should hire your own home inspector, preferably an engineer with experience in doing home surveys in the area where you are buying. His or her job will be to point out potential problems that could require costly repairs down the road.

Buy to let mortgage advice

Unknown said...

Well, getting your dream home does not magically happen. It requires a lot of hard work and perseverance. It also follows a lot of processes that needs to be done carefully. You also have to make sure that you are in a better financial status once you start with your mortgage. It might cost you everything if you rush into this. Remember, planning is everything. Good luck! =)

Rodger Ciliberto

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