I have yet to put an offer on the home. I really want this home and feel as if this is the home for me. The issue I am having is the asking price and what I can actually afford. The sellers want $238K. Initially, I posted I was going to offer $199,950. Well, I have had a change of heart in regards to the amount I actually want to offer. Having spent the last two days plugging numbers and plugging numbers again and again, I decided against my initial offer amount. Offering $200K would leave me with a monthly payment of approximately $1500 a month (most likely more than this). That is nearly $300+ more than what I want to spend per month. I want a life outside of having a home. Meaning I do not want to be 'house poor'. To some folk $1500 is not a lot of money to spend on a mortgage. But it is all relative people. For starters, I am doing this solo. Secondly, I would like to continue to save money every month. I know that with a home comes extra financial responsibilities. Unexpected maintenance occurs. **SIGH** I really want this home. I really want this home.
I have decided to tell my sis/realtor I want to offer $183,500. **YIKES!!!** Yep, I am going as low as I possibly can. The home is in a really nice neighborhood and the properties are well kept. The sellers may tell me to go fly a kite. The sellers may be anxious to get rid of the properties. Luck could be on my side. I have been told by several financial 'gurus' to put my home search on hold for 4-6 months because by then, I will be able to get any home I want because the market will be greater for home buyers. I am confused!!
What would you guys do? Would you wait the market out? Would you risk letting 'theee' home sit around and possibly get snatched up by another buyer? I am at my wits end. Stay tuned for updates people...
Tuesday, October 23, 2007
Update on theee house...
Friday, October 5, 2007
Eliminating monthly debt...
Well it just occured to me, I have yet to give an account of my monthly bills. I attempted to create a lovely spreadsheet like I have seen on so many PF blogs, but fell terribly short in doing so. I couldnt figure the software out, so I chose to do it the old fashion way until I learn the google document software.
An-T-wayz, my monthly bills consist of:
- rent-400 (WHAT!!! I stay with my mom...for a few more months)
- 105-auto insurance
- 89-home phone which includes DSL
- 89-cell phone
That's a total of $683 a month. Not bad. Not bad at all. Well, I am happy to say that I have ALREADY cut that number down to $642!! That's $41 bucks a month I am saving. Here's what I did. I took the liberty of calling Cingular, (now the new AT&T hehehe) and changed my mobile plan. I WAS paying 59.99 (phone plan) + 14.99 (wireless bundle) + 7.99 (7pm Nights & WkEnds). I am now paying $39.99 (phone plan) + $7.99 (7pm Nights & WkEnds) a month. I got rid of all the bells and whistles. I was not using them. I barely talk on my cell phone EXCEPT the weekends and those minutes are free!! I was really wasting a lot of money there.
I also tried calling my local phone company to make changes to that service as well. But being that I made these calls while driving AND looking for hair salon, I decided to put safety first and I will pursue the home phone service price cut Monday of next week.
On another note, I have been very bad this week. I have been eating out like nobody's business AND buying hair products like I have the hair length of Lady Godiva. I will not buy anything next week!!! I will not buy anything next week!!! I will not buy anything next week!!!
Although I fell off track this week, overall I have surpassed my expectations since beginning my financial freedom journey. Y'all have NO idea. I think I was in an emotional funk this week and that had an effect on my spending. I have always known whenever I get in funky moods I tend to overspend. But since beginning this intentional financial journey, I am more aware of the monies leaving my person. At one point while in the Beauty Supply Store, I left the store without purchasing anything in my basket. That is when I had an A-HA moment. But that A-HA moment didn't occur today while I purchased yet ANOTHER deep conditioner. HAHAHA!!!
Although I didn't spend NEARLY as much as I have in the past, the monies I did spend could have been put to better use. **SIGH**
