So my current boyfriend and I are looking at buying a home. We’ve actually been at this for about a month now. We’ve finally put a bid in for one home that we’ve agreed is the best for our situation. The home is more expensive than we’d like, but is being sold for much less than what it’s honestly worth. The asking price is $98k and the realtor stated that the comparable houses in the area have recently sold from $100k-$110k.

We’re pre-approved for up to $104k loan (is that a mortgage?) so the asking price was within our budget. The reason we went with a house so high up in our budget is that we won’t need to pay for anything else once we buy it. The other houses that we’ve seen either have absolutely atrocious basements that would be useless except for well sealed storage on top of plastic pallets (they’re stone with mortar, several have water in them seasonally and several have areas of dirt floor), or the houses had no air conditioning (something we need since my boyfriend needs to run a lot of computers for work). Since this house had everything, then we needn’t pay for anything about the house with our own money as it would all be contained in the loan.

The last tipping point, though, was my brother’s comment about people selling right now. Though someone might end up taking a $20k hit on selling their current home, the market is still good for buying and they might be able to purchase a home at $30k-$40k lower than what the home is really worth due to the current market. My brother stated, in the end, it’s still a savings of $10k-$20k. So my boyfriend and I figured we’d get this one while it’s “hot” and hopefully, whenever we decide to move, it will be a seller’s market again!