Renting is something that we knew we didn't want to do for long (as frugal as the two of us are together; throwing our money away to rent with no return was useless). Our ultimate goal: find a house we could put some TLC into, "flip it," and sell it for enough profit to have a down payment for some land where we could build a house.
We could have NEVER predicted in our wildest dreams what we would go through before we found the perfect realtor and the perfect house (that fit our shoestring budget).
Our search for a house was quite minimal at first (due to us not being engaged played the biggest part in our slow start) where we started looking for houses around Louisville close to the apartment we were in at the time (roughly August 2009) which was conveniently located 10 minutes from UofL's campus (a big deal for two full-time students). A handful of houses seen and a realtor that stiffed us on showing us a house we were extremely interested about later we were derailed on our house hunt. School took priority and our house hunt remained idle for roughly 6 months before we started hunting again.
We got ahold of another realtor when we completely changed our house hunt for houses in Shelbyville. Getting engaged and moving back home helped us realized that in the end (after college and once we were married) we wanted to live in Shelbyville. It's where we both grew up and we both think it is where we will always live. The 2nd realtor that helped up during our search was friendly and seemed to care but was extremely hard to get ahold of we were never sure why but, after struggling to get just a couple house showings with her we decided to part ways and take the house hunt into our own hands. (Final conclusion on why we couldn't get ahold of her was the dollar value of the houses we were looking at. We were obviously looking at houses under $125k and that was well below her average sale price. That being understood on our end we knew we needed to find someone who had interest in US finding our first house that fit us BEST and not just forcing us into a house that would END our search.
A few days after we decided to search on our own we finally got in contact with a realtor, who from start to finish, was PERFECT (was flexible with our schedules, we could contact anytime and actually get ahold of her, built our house hunting knowledge, actually CARED about what we wanted in a house, and most importantly was PATIENT!!! Buying a house is a big-time life changing decision and we wanted to make sure we got the right house before we decided 100%. A shout out to LISA PHILLIPS for being the best realtor known who is extremely helpful, knowledgeable, and patient (3 things
extremely hard to find in a competitive industry as real estate is.) When I say patiences, I mean PATIENCES, Candace and I viewed/researched into roughly 30+ houses that caught our eye, were in a good location, had an appealing price, and/or had an amount of land (enough to have a garden; my dream) that was alluring to us. Oh, I almost forgot, a place that had potential for making money on after the sweat equity we were willing to put into. Through those standards in a house we were looking for, Lisa kept pace with us the whole way and never got discouraged from our fickleness to decide 100% on a house that we would be excited about but the final approval from our parent's would not pass 100% surety.
With the hunt in full and many houses failing to receive 100% approval across the board; we find THE house. This house had it all: land (with garden potential), all brick, under our price range, sweat equity possibility, and in an area that after few years from now could be easy to sell a house in. After we (Candace, her parents, my parents, and I) racked our brains about being 100% we informed Lisa we were ready to offer... and come to find out so were
5 OTHER buyers. Lisa, keeping her modus operandi (words I learned this semester that stand for what you hear detective's refer to as "m.o."), she informs us that when multiple offers are on the table the most appealing bid typically wins. With that info on our minds we now had to come up with the best offer (thinking of repairs and what we wanted to earn down the line) so we decided on an amount a few thousand OVER the asking price which we thought set our offer apart more than any other offer because surely no one would offer much more than what we did on that house.Thinking we had the house because of our confident offer we started brain storming what we would do to the house and we took a trip to Lowe's to start pricing different items we would need to purchase (that confidence came back to bite us where the sun don't shine.) We lost THE house. Someone offered more than we did. Completely crushed and disheartened we put the serious hunt off for a couple weeks. When we finally got over what had happened and started realizing that THINGS HAPPEN FOR A REASON we started finding other houses we liked again and would continue to explore (in the back of our minds we secretly kept hope between the two of us that something would bring the first house we fell in love with back to us).
A few weeks after our search picked back up from the "debbie downer" incident with our "1st House Love," we found another one. The one we quickly fell in love with it's charm. It was an older home with hardwood floors throughout (a characteristic we knew we could bring out in the house from just refinishing my parents hardwood floors two weeks prior to viewing this house), old woodwork, a basement, sweat equity potential, "grow in to" potential (we could be comfortable there with 2 kids,) AND it was up the street from my parents, to some that wouldn't appeal, but I did because it would save me money; I could do without cable, washer and dryer, and dinner on most nights by just going to my parents when needed :-). So we were set once again with approval from both parents that this house was IT... and best of all we were the only buyers putting an offer in. I sign the paperwork for the offer to be submitted and it is sent in.
Then the tornado of emotions start the very next day...
Lisa calls me and that hope that I mentioned eariler came back to life!!! She informed me that the listing agent on our "1st House Love" contacted her to see if we were still interested (of course we were) in the house because the financing fell through on the previous buyer (the person who's bid was higher than ours). Not jumping on the opportunity, I told Lisa I would need to talk it through with Candace because we had fallen for the house up the street from my parents just as much as our 1st house. Lisa then let's me know that the house is going to be open to US ONLY and if we offer the asking price the seller would cover the closing costs.<-- that right there sold me on giving up our 2nd love for our 1st but, this decision was going to be made between Candace and I together. We talked through it and after tough deliberation we decided to go with the house that we FIRST fell in love with and lost and now getting back.
Through all of this Candace and I learned so much but we took 2 main things from the ride of house hunting: 1. THINGS HAPPEN FOR A REASON and 2. PATIENCE PAYS. Patience on our end as buyers paid off in the long run because our first offer on our 1st house was above the asking price by a few thousand. When the house came back on the market, we were essentially forced to give full asking price which we were fine with doing because that price was almost $10,000 LESS than what our first offer was on the house leaving us to honestly believe from now on that THINGS HAPPEN FOR A REASON!