Bob and I have decided not to buy the house. We were so close to closing. So close until it all fell apart.
Almost two weeks ago, the mortgage loan company called to discuss the appraisal report. Apparently, the mold in the basement was so extensive that there was potential for the structure of the basement to be completely destroyed and the only way to find out was to have a structural engineer come in and assess the damage. This meant more $$$ out of our pockets when we didn’t even own the house yet. In addition to the assessment, depending on the extent of the damage, we’d have to apply for a different kind of loan – one with a higher interest rate. Again, more $$$.
A couple of hours later, our lawyer called to tell us that there was judgment on the house in the amount of several thousand dollars. Long story short, even more $$$ from us.
In the end, it just wasn’t worth it.
We’d gone through so much with this house. Much more than what I’ve mentioned here. We’ve put a lot of time and money (lawyer, inspection and appraisal fees) into it and for us not to be getting it in the end was/is heartbreaking. For months, I’d been imagining us in this home: a pink and grey-themed nursery for the little one, shiny new appliances, new paint jobs and just generally more space for everyone. All superficial, I know, but it was disappointing nonetheless. So when Bob brought up Plan B, moving into his old apartment in a different part of Queens, I was less than thrilled about it, in spite of the prospect of being able to save even more money. I’ve mentioned it before, but for those that don’t know his old place is owned by his family, so of course with a “family discount” the rent is basically pennies (and it includes some utilities). We also have the added bonus of having his mother next door and his grandmother downstairs, should we need their help or they need ours. But the thing that kept bothering me was the idea of moving into yet another very small space, now with a baby on the way. Not to mention, the not so-convenient location, public transportation-wise. But after a few days of thinking on it and discussing my concerns with Bob, I’d come around to the idea and have made peace with it. I’m even kind of excited about redecorating his old bachelor pad into a cozy family home and chucking a bunch of stuff we don’t need (I’ve already started and it feels GREAT). What’s even better is that in about a year, probably two, we are going to be able to afford a slightly bigger, better home (one that doesn’t have mold problems, fingers crossed) provided the housing market doesn’t pick up too drastically. There’s also the potential for Bob to pay off his school loans in the meantime. We’re just going to have to get really crafty with our space. Hence, I’ve started a new Pinterest board called Space-Saving. Because everyone knows a Pinterest board makes it a creative and fun challenge!
So that’s what we’re doing. We get to stay in Queens for a while longer, which is great. We have lots of family and friends nearby (many of which who have already offered up their generous babysitting services!), which is super convenient. And even though things didn’t go as planned, we are going to make this work. I’m confident that no matter where we end up, we’ll be together and we’ll be happy and that’s really all that matters.