Monday, August 08, 2011

The Time Line

July 3 - We receive letter from apartment manager informing us of terms for new lease we will face Sept 1.

July 4-7 - Many discussions with the wife. Lots of tension as I am simply unwilling to pay as much as they are asking to rent.

July 8 - Wife leaves town for a trip that was already planned but it gives us some cooling off time at a fortunate time. It is also 1st night that she is gone that it dawns on me that I could buy condo such as this, pay 3% down. Principle + Interest + PMI + HOA would be less than current rent. Additionally recovery point for down payment vs. 1012 rent was 19 months

July 9 - Wife is out of town so demon child and I go to look for new apartment. We look at The Domicilio which at the time was asking $250/month less than rent increase we were facing. Pluses were it was nice enough that wife would not whine. Negatives were that there were a lot of college students in place since it is adjacent to Santa Clara University. We also look at an apartment near demon's high school, wife will hate but kid could safely walk to high school.
I also present kid with idea of buying to get her buy in I take her here. Logistics are difficult but they had 1 home that was ready to move in so thought could time.

July 11 - Kid takes wife to see apartments we looked at as well as new homes. Wife is not offended by new home nor 1 apartment. But Domicilio is now asking $75 more/month.

July 12 - After explaining thinking about condo and how it makes more sense to buy than continue renting, wife gets enthused about looking for a house. Because she doesn't fucking listen she looks in Los Gatos.

July 16 - I meet with real estate agent (along with wife and demon who met him on 14th) , he is going to take us to see numerous houses in Los Gatos but we include one house in Santa Clara I am insistent upon and 2nd house in Santa Clara he finds. All houses in Los Gatos have multiple aspects demon hates, at least one aspect my wife hates, I am trying to be open minded but don't want to commute from Los Gatos. We see house in Santa Cara I wanted to see, wife likes. We see other Santa Clara house, it is comical how blatant it is that it is flip. Cheap paint, lowe's stickers still on windows, "loft added which is converted attic and stairs are as steep as pull down attic stairs. We decide to get reports on 1st Santa Clara house. Demon cheers. Wife may not listen to me but listens to Demon child downright giddy about not wanting to change schools.

July 19 - Offer made

July 22 - Counter accepted

Late July normal gathering of paperwork hassle to get loan approval, plus selling all stocks to make sure I have enough cash freed up for down payment.

Aug 5 - Papers signed, checks written, wire transfers completed.

Aug 8 - seller signs upon return from biz trip.

Aug 11 - keys.


The Poker Meister said...

Congrats on the new house, Bayne.

Shrike said...


Hopefully the stocks were sold prior to market meltdown. :)


Kristen said...

Congrats! When is moving day? And how about posting a picture of those new keys, eh?

Josie said...


Bayne_S said...

stocks were sold 2 weeks ago

jamyhawk said...

Congrats. Possibly best time ever to buy.

lightning36 said...

Sounds like a solid decision. Congrats!

BWoP said...