It's been a big week at my house~~

[leebee]

What a crazy week! DD/SIL/7yo moved in with us 2.5 years ago. He'd just totaled his car with no $$ to replace it and their rent jumped from $900 to $1300 (which is what we pay for a mortage on a 2100sqft home). With DD in grad school (so no income), they were stuck between a rock and a hard place, so we invited them to stay with us, which would help them save money and get back on their feet (the little guy was 5 at the time). I envisioned they'd be with us for several more years, but early this week, SIL bought a car! 2010 Subaru Outback with 125000miles on it for $5200! We are socially acquainted with the sellers, so I felt OK about this. HOWEVER... last night DD/SIL announced that they bought a house!! Sellers came down $25K in asking price, DD/SIL put up another $10K on their downpayment (which dropped their mortgage interest rate to 6.2%) and they are moving out by the end of the summer (IF the inspections go well). MY HEAD IS SPINNING!!! I'm so happy for them! Fingers now crossed for the inspections, and the drudgery and stress of packing!!

 

[slo]

Outstanding!
Good for them!
I wish them all the best!

 

[Southernmiss]

Congratulations to all on the big news!

Looks like their living with you has given them the jumpstart they needed!

 

[Beezle2]

Wonderful news Congratulations to them and much success in the future!

 

[Kitty 34]

What happy news, Leebee!

 

[jo-jo]

Where are they moving? Not to far from you I hope. The little guy is sure going to miss you.

But wonderful news. You have the perfect example of how "let us help you for a bit" works. Too many stories of move in for a bit to save money, but nothing is ever saved.

 

[Disneybuckeye]

What great news. How exciting!

 

[Meriweather]

That is wonderful news!! Best wishes to them.

 

[where_else]

Congrats to your whole family

 

[tvguy]

Good luck. And WOW, rents are low where you live. My daughter owns half a duplex. 3 bedroom, 1 bath 919 square feet. Her payment is $1,000 a month. The identical duplexes around her rent for $2,000 a month. She bought because she couldn't afford to rent.

 

[Micca]

Super happy for everyone involved, Congrats to all!

 

[cabanafrau]

Congratulations! Entry into the housing market at this time is challenging, to say the least. Awesome news!

 

[HeatherC]

Congratulations to all! Sending good vibes all goes well and smooth with the move!

 

[flyingdumbo127]

Hug Leebee and congratulations to all. Than you for the extra kind difference you have made to your DD, SIL, and their child. Thanks always for also making a kind impact in our lives too.

 

[mjkacmom]

Good luck. And WOW, rents are low where you live. My daughter owns half a duplex. 3 bedroom, 1 bath 919 square feet. Her payment is $1,000 a month. The identical duplexes around her rent for $2,000 a month. She bought because she couldn't afford to rent.

My son and daughter each pay $2000 a month for one bedroom apartments, making it a big difficult to save up $100,000 for a down payment on a home.

 

[tvguy]

My son and daughter each pay $2000 a month for one bedroom apartments, making it a big difficult to save up $100,000 for a down payment on a home.

Another wow. My daughter got into her house 5 years ago for $12,500 down. I thought that was a lot since my wife and I got into our house for $5,500 .....but that was in 1983.

 

[robinb]

Congratulations to them. Give yourself a nice pat on the back for being a soft place for them to land and regroup. Their success is as much yours are theirs.

 

[The Mayor]

That’s great news. Congrats to them and to you for helping them out!!!

 

[Clifton Tesh]

6.2% on a standard 30 year fixed rate mortgage on a house that costs $225,000 (lowest average cost in the US) = $271,100 of interest paid.

Not counting all the other fees that come along with home ownership, that's a grand total of $496,100 paid for a $225,000 property.

That's freaking crazy.

I do not understand the joy of home ownership.

 

[AnnaS]

Nice!! Congratulations to all!!