I can't believe Steve and I are going to be moving at Thanksgiving again this year. I have decided that this is the last time we are going to move during the Holidays.
My dad's bank foreclosed on a house and he suggested that we buy it. After much thinking and praying and looking at our budget numbers, we decided to go for it. I know crazy, huh? The mortgage payment is will only be about $100 more than our current rent payment. Steve's theory is that when we are ready to move to Texas, we can sell it and make a killing in Equity. It is a 3 bedroom, 1 bath, with an attached garage. It has a nice big back yard too. The house was appraised before it was foreclosed on for $60,000 and we are buying is for $40,000 with a 20% down payment. My parents offered to gift us the down payment because their parents did that for them when they first started out. I love my parents.
I can't help but here Dave Ramsey in the back of my head. He says never buy a house until you have an Emergency Fund, you are out of debt, and have a good down payment. We have our Emergency Fund and are working on getting out of debt, and thanks to my parents we have a down payment.
The house is all electric, so unfortunetly we need to buy a new dryer and a new stove since they are gas. We are going to try and sell them. The house needs a little work, mostly cosmetic. Steve is excited because he gets to use his tools. Anyone surprised? It is going to be a busy couple months. Please keep us in your prayers, as we try get all the money together we need to make the move and to fix the new house. We also need to keep our heads together and prepare Thanksgiving and Christmas.