I love Green Lake. I love how walkable it is, and all the restaurants & coffee shops & pubs & parks I can easily get to – but I had been renting for quite some time and as a real estate broker, I couldn’t justify my rental situation any longer. I’d been wanting to purchase for a long time & make that leap into homeownership, but I also knew I wouldn’t settle for owning a home I didn’t want or love just for the sake of owning it.
And so my 30th birthday came this past June – and I had always thought I’d own a home before I was 30. It woke me up and I actively started looking – and found a small, mostly cosmetic fixer that I adore in Maple Leaf.
It says something about the condition of the market when real estate brokers are making moves and purchasing – interest rates are creeping up and pricing some of my clients out of what they want. Home prices aren’t just creeping up – they’re growing like weeds and people who purchased just six months ago already have a substantial amount of equity in their homes.
Now I live in Maple Leaf – and I have been there for two weeks. I tore up the carpet in my new home to expose the original hardwoods which I will soon be refinishing. I just tore a wall down between my kitchen and dining room, which will open things up. I have new cabinets on order, new appliances installed, and am plumbing in a dishwasher. Most importantly, I’m gaining a tremendous amount of satisfaction in doing a lot of the physical labor myself.
I just went through what a typical first-time buyer goes through. Of course, being a broker for eight years, I knew the process thoroughly and was prepared for everything – but there’s still stress, and panic, and a wave of emotions. Now, “I know exactly how you feel.”
If you’re currently renting, I encourage you to look at your monthly rent versus mortgage payment right now. Seattle rents are becoming some of the highest in the nation, and interest rates, although rising, are still low. WHY HAVEN’T YOU BOUGHT YET? It’s a serious question – if you’re paying more in rent than you would in a mortgage, renting just doesn’t make sense anymore.