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Excited. Maybe Buying Home

post #1 of 17
Thread Starter 
OK. So after hearing a coworker talk about buying a home and them having horrible credit I decided to do a search for financing for those with bad credit. I found a few people and put in a request for a loan. Well one called back and said I could get a loan! It has to be a rural place. And around $60,000 dollars for the payments I'd need. The interest would be a little higher than normal but I expected that since my credit isn't that great.

But, I found a place for $50,000 dollars that looks lovely. I put in a request to view it.

It's 3 bedroom, 1 bath. Eat in kitchen, Den and 3 acres.

It obviously needs work. But just maybe... we can do it.. and it's only 20 minutes from town. So that wouldn't be so bad.

We have also decided to go see a loan officer in town that helped my mom buy her place. We haven't saw him in years and I hear he's got some new lenders that may be able to help us. If he can find something with a lower interest rate that would be great too.


It's still early obviously.. But I have my hopes up that I can do this! I'm trying not to get too excited. I know they can still steal my thunder and I'll be all depressed. But I just can't help it... Can't gain if you don't take a chance.
post #2 of 17
What a cute place! I wish houses were that cheap around here

Sending all the positive/good luck/house buying vibes possible!
post #3 of 17
Wow, that's so exciting! That house would sell for $350,000 CDN ($300,000 US) in Victoria, BC. I hope it all works out for you!

Cheers, from
SwampWitch
post #4 of 17
Quote:
Originally Posted by SwampWitch View Post
Wow, that's so exciting! That house would sell for $350,000 CDN ($300,000 US) in Victoria, BC. I hope it all works out for you!

Cheers, from
SwampWitch
Thats how much it would be here too!
post #5 of 17
That's really cute! You'd never find a house for that price around here!
post #6 of 17
Thread Starter 
Really! Wow. There's lots of places here like this. Their all starter homes and most likely it's gas heat. But we can fix it up a bit and in a few years if we run out of room we can either add on or resell. If I get it I plan on putting a fence up for my dog and any future dogs we have. Plus a meditation area where I'll have a little pond so I can hear running water and a comfy place to reflect. I see great potential!
post #7 of 17
Quote:
Originally Posted by SalemWitchChild View Post
Really! Wow. There's lots of places here like this. Their all starter homes and most likely it's gas heat. But we can fix it up a bit and in a few years if we run out of room we can either add on or resell. If I get it I plan on putting a fence up for my dog and any future dogs we have. Plus a meditation area where I'll have a little pond so I can hear running water and a comfy place to reflect. I see great potential!
Thats whats great about a little cute home like that for a good price, you can add on and add more value to the home, so if you do resell, you'll get a nice profit!

I hope it all works out out for you!
post #8 of 17
A starter home - and I mean a real fixer-upper - would start about $150,000 Canadian around here. We're not in a high market because we are so far out of the big cities like Toronto and Ottawa, but homes are still not cheap.
post #9 of 17
Wow, good luck!! How exciting!! I hope it works out for you

BTW, you could MAYBE get a shack here for $50000
post #10 of 17
Maybe an outhouse!
post #11 of 17
Thread Starter 
lol. Well maybe y'all need to move to KY.
post #12 of 17
That could be an option! But I think they have rather stringent immigration rules for the US!
post #13 of 17
That's really awesome!! Having a bit of land around you is really a nice thing.
post #14 of 17
Sounds good! And wayyyyy different in price than around here! DH and I have been looking and I think a simiar home, from the description and picture, would go for at least $200,000 here.... it sucks!

Let us know what you think when you get to see it!
post #15 of 17
What a CUTE house. If th porch is wide enough I can totally imagine a porch swing, some nice bushes and roses in the yard...

post #16 of 17
Thread Starter 
Quote:
Originally Posted by emily_325 View Post
What a CUTE house. If th porch is wide enough I can totally imagine a porch swing, some nice bushes and roses in the yard...


Sounds wonderful. But I have a totally black thumb...Maybe mom would help.
post #17 of 17
What a cute house!
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