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Were We Worried When Buying Our New House? Great Question!

Some of you may know that I run monthly giveaways for my newsletter subscribers (if you want in on that, sign up in the right toolbar).  All my subscribers have to do to enter to win is to comment on a monthly giveaway post.  They can leave any comment at all, but I do ask for questions so that my “Ask Crystal” part of the newsletter doesn’t get extremely boring. Great Question Erika at Newlyweds on a Budget asked a fantastic question last week and my answer just was too long for a newsletter, lol: I have been curious to ask…you guys decided to purchase a new home right around the time the whole google slaps happened. Did it not make you nervous that maybe your online income wouldn’t be as stable? or did you get nervous to make such a huge purchase with the uncertainty? Were We Worried? Short Answer:  Yes, we were pretty worried but we ran the numbers, could make it work, and decided to go ahead anyway. Long Answer Here was the whole situation.  We signed the contract to have our house built on April 14, 2012.  We had made nearly $16,500 in March after expenses, so … Read more

Closing Costs for a New Home – Here is Your Arm and Leg…

Buying a new house is so hard to budget for! There are all sorts of unexpected and hidden fees in the process. I'm planning on buying a new home and having this list of what to expect to pay in closing costs is perfect for figuring out our budget and if we can afford our new house. Repinning this one for later!

Since the new closing date of October 4, 2012 seems to be an actual, realistic day, I’ve been going over all our numbers to make sure we are really on target for the move.  I’ll take some more pictures to post for you on Thursday as they finish up all of the big stuff (yay!!!), but in the meantime, here is where we are standing before closing on our new home: New Home Numbers Closing is going to be expensive.  The builder offered us 3% of the final home price to put towards closing costs or the price of the house as we saw fit, so we took 1% off the total price of the home and sent 2% to the closing costs to help us out a bit.  So the final price of our new home will be about $260,000.  Our loan amount will be about $208,000.  Here are how the closing costs are breaking down: 20% down payment – $52,000 Loan Fees from the Lender – $2180 Loan Fees from the Title Company and Builder ($410 might be waived) – $3830 Prepaid October Interest – $635 Homeowner’s Insurance for one year – $1122 Property Taxes for the rest of … Read more