Friday, February 22, 2008

Offer Accepted

Well, my offer for the new house was accepted, no counter-offer or anything. That makes me wonder just how low I could have gone. And it is also leaving me seriously wondering if I am doing the right thing.

For instance, I love the house I'm in now. The new one is almost 1/2 the size and it is next to the highway. Plus, I will have actual neighbors. Here is my current home:

And then there is the pool that I would be walking away from. This picture is from the pool party I had last summer, and I plan on having another this summer, just with more people, plus booze. If you are reading this, you are probably invited....

So here is the issues that I need to work through. I like the idea of living in Raleigh. And this house is considerably less expensive, leaving me with about 10k of mortgage plus whatever fixin' up I do. But I really love this house in the country. Even with the pool needing some repair, as it sprung a leak last spring.

But I've borrowed some waders so I can go in while it is low and patch the hole.

I really don't know what I want to do. At present I am continuing down the path I originally started, which is purchasing the house. I had also expected to spend the next 2-3 months fixing it up to get ready to move into. That will take me into the summer, and that's when I can hold my pool party.

I have about 1 week to make a final decision on whether I want to go through with the deal, or back out and get a refund on my earnest deposit. It will be inspected next week, and the offer indicates that if repairs are more than $2000, the offer can be rescinded. There is at least that much in repairs if done by a professional.

The idea I am toying with right now is to go ahead and make the purchase. There are several things that need doing that I can do myself. It can be my learning place for home remodeling. Those could be my weekend projects. It also gives me lots of blogging material as I do the projects...something this blog could really use.

That also puts me into the city during the weekend so that I can socialize and meet more folk. Plus, when there are events and parties that occur during the week in Raleigh, and there are quite a few, I can go to them and then crash overnight at the house. And there is a certain cachet in being able to say "want to go to my place in the city or to my country home."

It'll be a bit of a stretch financially, but there is the renter. He's been there for 6 years now, and I am sure quite comfortable. The rent covers almost covers half my mortgage payment.

In the end, it'll cost less than an apartment would, gives me a place to live in the city, and allows me to keep some of my current lifestyle like the pool and peace and quiet when I need that.

I still need to think through a lot of this. What I've written seems to just scratch the surface of the whole deal. I'm excited about doing it, plus stressing big time. I've changed my mind about 27 times today about it. But I will come to some decision, eventually.

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