Hey Everyone! I'm Eric and I'm here to share my story of "moving up" to my second home as part of Freddie Mac's Spring Homebuying Season Blog Series. If you missed our first series from Nicole, a first–time homebuyer, read her story here.
And So It Began.
The Dr. delivered the big news: "You're having twins!" I almost fainted, repeating to myself for the next several months, "Two at once?" and "Where are we going to put these babies?"
Six months later, our quaint, two–bedroom home quickly turned shades of pink with toys overflowing in our living area and high-chairs filling our small kitchen.
One year later, it happened. We were hit with a 3.5–foot snowstorm and we were stuck inside for EIGHT days. The girls were climbing the walls, as were we. At the same time, my wife and I looked at each other and said: "We need to more space!"
Within hours, we were online and began the introductory search for our next "perfect" home. As with our first purchase, we carefully jotted down our bucket list of wants and needs. What a difference between our first and second–time homebuying searches!
With all of our wants, we knew we were quickly off to the suburbs for affordability reasons alone.
Our next steps:
- We called our lender and shared all of our updated financials and our target mortgage payment. Within 24 hours, we received our pre–approval letter that outlined how much we could afford.
- We called our realtor and shared our "bucket list." Within days we began looking for our new home, 30 minutes outside the city.
We had a much stronger grasp of the homebuying process and vocabulary our second time around. However, with this transaction we had a big decision to make: To sell our home first, or make an offer. Find out in my next blog post what we decided to do.
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