Yes, to answer the question everyone was asking. There is a lot of work going on in our house. And the landlord and I have reached an oral agreement to buy the house … no handshake or signed documents – not yet! But I definitely tend to.
The following has led to:
- I’ve been thinking about a permanent home for myself for a long time. And I’ve decided to stay in this area. The cost of living is very low, which would 1) allow me money to travel and run a household, and 2) when it is time for me to work less (many years still away) I could easily work part time and myself feed.
- COVID has really addressed how unsafe our lives still are. I know the kids are all on their way for the next few years, but I want a sense of continuity for them … a home that they know will be there.
- After talking to my father, if I really wanted to consider getting a house inspection done, his advice was so that all the cards are on the table and I know everything.
- Had a very open conversation with my landlord.
I think that sums it up. So here we are …
After my dad and I sat down with the inspection report, he identified three things he suggested that I need to fix the landlord so I can consider buying:
- New roof
- Electrically rebuild and upgrade (it’s still a fuse box so it becomes a protective box)
- New air conditioning
- We have a bathroom remodeling underway too but that was because the nearly 70 year old bathroom was falling apart and it was time. It should be done this week or the next at the latest. It was brought down to the bolts and completely redesigned, I selected everything and monitored every step. I really like the contractor. Pictures will come.
He (the landlord) and I sat down and came to an oral agreement. (I’m really unsure about how to negotiate.) But I think we both got away satisfied. And we’re moving forward at both ends. I want to buy this house.
- A new air conditioning system was installed within a few days.
- The roofer was here and even had all the supplies delivered. Not sure when he will start but everything is here including his ladder.
- And there were several electricians on the road, but as far as I know he hasn’t hired one yet.
- I checked mortgage lenders and it was very frustrating.
I think I’ll have a pre-approval letter in hand early next week and then we’ll formalize a sales contract. I will elaborate on that once we have a formalized agreement and move forward. We (Turner and I) had plans to update the house and are pretty excited.