Related Posts Plugin for WordPress, Blogger...

Monday, March 11, 2013

Lucky Clover

At the beginning of January, Kev and I fell in love with a HUD (government-owned) house. Kev caught it online on a HUD site before it even went live via MLS. It showed a lot of wear in the photos, but after walking through, we decided to put a bid on it anyway. The thing about HUDs is that you don't get to negotiate; you make a bid and hope you get picked as the "winner." Homes are sold as-is and they are sometimes in wicked bad shape (like this one). But the beauty is that this particular HUD home is in an amazing neighborhood. It's a classic scenario of buying the dumpiest/cheapest house you can find in the kind of neighborhood you never thought you could afford.

Kev and I swore we'd never buy another fixer-upper. We didn't get to enjoy the upgrades Kev made to the Pink House, and that left me pretty bitter. All those sacrifices to get it done! All that money spent! And not only did we never get to live in it all perfect and finished, but we sold the house for what we paid for it. Wah-wah.

But with this HUD, it has so much more potential than the Pink House. It has FIVE BEDROOMS. People, that means my shoes will get their own room. Having so much space, we decided it was worth a shot.

The bids for this house were accepted over MLK weekend, and we waited patiently to hear from one of our realtors. The holiday delayed things, but eventually I got a call that we didn't get the house. And then three hours later I got another call that we did.

We were pre-approved for this house, but there was still a lot of paperwork and red tape to push through before we could close. Our lender was amazing and figured out a way to approve us for a conventional loan despite some problems with the house. It worked out so Kev's company can act as the contractors for the repairs while our money is in escrow. Translation: we're going to save a crapload of money by avoiding an FHA loan.

So while this house may not be move-in ready, we're hoping it will be worth it. I see us staying here for a long, long time, which will make the next few weeks more bearable. Kev will be spending all his free time making improvements on the house and we plan to move in before April rent is due. It has a good layout, hardwood floors, tile, a two-car garage, fenced backyard and so much more going for it.

We closed on Friday and I couldn't stop smiling. We went over to the house to change the locks and I just walked around it by myself, imaging where things will go and how we'll enjoy the place. And while I'm not looking forward to packing and moving AGAIN, I'm looking forward to being in a new place where we can feel settled.


  1. Our first house was a HUD home. One nice thing about fixer uppers is you can make them exactly how you want :)I dont blame you about being bitter with all the work Kevin did in your pink house & not being able to enjoy it :( This time you'll get too though!

  2. Love the house! man what would it be like to have a two car garage?! we woulld just take one garage :) the kids were surprised with how big aspen looks now! You guys will make it beautiful and contrats on the conventional loan!! too cool!

  3. So exciting! That IS a great neighborhood. Congratulations!

  4. Congrats again! Looking forward to seeing what you guys do with it! You need to come up with a new name for your home improvement posts, PHriday was such a good one. :)

  5. It may sound silly, but I have been agonizing about what to call the house. Obviously, my main concern is that it's awesome, but I also want to make sure it doesn't say, "HEY WE LIVE ON X STREET IN X CITY!!"

    We're really excited. I lay awake at night thinking of the projects and how amazing the house is going to be.

  6. YAY! :) So happy for you's gonna be awesome!

  7. That is amazing. I love the detail in the one picture. I actually want a fixer upper I just lack the ability to fix it up. I am so happy that you have found a home to settle in. Thank you for your kind words on my post. I am truly at a loss and we are leaning towards staying in state, but we shall see how things pan out.


Thanks for stopping by!