Michael on May 25th, 2010
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At long last, my wife and I finally bought a home.

You: You started looking a year ago, no?

This round, in New Hampshire, yes.  But we also looked to buy a place in Chicago during 1999 and in New Jersey in 2002.

You: So it took you ten years to buy a home?

Sort of.  But we weren’t looking the entire time.  Still, it’s a milestone we’re very much looking forward to enjoying.

You: So what took you so long?

When we almost purchased a condo in Chicago, we were slightly outbid at the last moment.  Then I graduated business school, got married, and took a couple of months off before starting my job.  Honestly, we got distracted and knew we were going to move to New Jersey so we simply stopped looking.

You: What happened in New Jersey?

We planned on renting for a short time while we figured out what neighborhood we’d like to live in.  A bit later we bid on a home and, despite having the highest bid, did not get the home because of some error on the part of the selling agent.  We figured we’d try again – but never did.

You: Why not?

Two reasons.  First, I became exceptionally busy at work and the town we were looking to move to was 45 minutes from where I worked and where I lived.  I simply couldn’t make the time.

You: What was the second reason?

I became very bearish on housing.

You: Really?

Yes.

You: Can you prove it? It’s like your claiming that you predicted today’s stock market activity.

No, I can’t prove it. But it is the truth. Anyway, I was wrong.

You: Wrong?! How so?  Housing prices have plummeted since then.

Prices have plummeted since 2005, yes.  But we were looking during 2002.  So I was a bear a bit early.  Anyway, when we came up to NH in 2005, we also wanted to rent to learn the neighborhoods.  All the while home prices kept falling, albeit slower here than in CA, AZ, NV, and FL.  Also, mortgage rates were low and getting lower so the pressure, financially speaking, wasn’t really on.

You: So what finally got you into a home?

Our desire.

You: Seriously.

Okay, that and the fact that our oldest starts school in the fall and we really wanted her to start with the group of kids she’d be with for a while rather than make her switch at some point. (Of course that’s still possible, but at least it’s not something we’re planning on doing.)

You: So what next?

We had the inspections last week.  We’re signing our names a million times for the mortgage paperwork.  We’ve researched insurance companies and learned a lot about both septic and sewer. Turns out, no one wants our shi– er, stuff we flush.  Lots of details to research and prepare for.  But we’re very excited to close in just foiur weeks.

For those new to our housing search, here are some educational backgrounders:

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