Market Friday: Major Purchase!
Our son and his wife have struggled for many years now. They are smart, sensitive and awake, not really a recipe for financial success in the rat race. They have been knocked down over and over, but they get back up, dust themselves off and pull together for their little family. At this point, they live in an apartment that is really too small, plus there are recurrent "pest" problems, and people have tried to break down the door in the middle of the night. They are stuck. Rents just go up and up, they are never going to be able to save up enough for a down payment... a lot like how we struggled when we were young. We know that a lot of marriages fail over financial strain and we do not want to watch our granddaughters put through that if we can do anything to at least try to prevent it. So, we did this.
Taken with my cell phone after we had looked at three houses, sat and had breakfast and all agreed this is the one.
It is not fancy, it is not on "snob hill" but it is a cute little house with lots of great features. There is a fenced yard and even a covered patio so they can get some outside time all winter. But that is the product we purchased, not the market...
Here I am signing the offer, which was countered and we accepted the counter offer:
I am not a fan of banks but this payment is about half the least expensive rental we could find. The rentals now want first, last and a deposit. The down payment was not much more, it just made no sense to rent in this market. So we expanded our real estate portfolio... and hopefully provided a bit of stability for our kids and grandkids.
The office does not have photos of the properties it offers plastered on the walls like so many real estate offices. They had cute pictures of castles hung instead:
Some even had the floor plans on them:
All photos in the office were taken by @fishyculture with her cell phone, including this one which she says should be the next addition to our portfolio...
Thanks to @dswigle for hosting this photo challenge!
Good on you for sacrificing for your family .
Thank you. It is not much sacrifice, we worried about them constantly where they were. We all will sleep better now!
Yeh I can imagine so it's a win all round
Looks like a very exciting day of home shopping. Great job taking care of the children.
Love
Wow. I am so excited for all of you! Those baby girls are going to love having their own yard! Congratulations everyone!!
thanks. yes they will.
What a super #MarketFriday love the photos of all the building plans, I like the house you selected as well looks like a real happy family home to keep your daughter and her family safe for years to come. Fascinating reading, enjoyed this one very much.
#thealliance
Thanks! I appreciate your input, I know many people think I should let them "take their lumps" but I just can't be that way.
You are a great person... i really amazed you care about your family... people like you hard to find this days.☺👍
I appreciate the understanding very much. My wife and I were both "kicked to the curb" as teens, and we just can't do that to our kids.
What a wonderful thing to do!! Looks a lot like where I am living now and how exciting it will be to make it their own!!
The stress level in their family immediately dropped. They were in a pretty bad situation.
It sounds like it! Scary to be in a situation like that..I hope they get to move in quickly!!
Thank you. Me too!
This is a really sound investment for you and your family. It helps the kids and grandkids. I have done something like this for my boys because renting in the economy just doesn't make any sense. I bought the boys small pieces of land that they can build on and be able to grow some of their own food too. This is a cute little house and will make them very happy.
Thank you! It is nice to hear encouragement from other parents. We have been told we "enable" them by well intended friends. Enabling them to have a roof over their head seems like a good thing to us.
If you were buying drugs to feed an addiction then it would be enabling! Helping them get a leg up is just looking out for the future generations!
That is sort of how we see it. We did not have kids to watch them perish, we wanted to toss our genetics into the future. A little nurturing increases the odds that will play out.