The Linden Blues.
Eager to find our new home, impress a new employer and get settled in a new town, we quickly searched for and found a home to call our own. Without the help of a realtor and without funds to make a down-payment, we made a full-price offer on our first official home.
Our little slice of heaven.
We loved our little place on a lake. Great neighbors and wonderful town. Our 80-20 loan was not that wonderful...
Three years later, my husband was asked about moving back to the west side of Michigan in the next couple years.
We hadn't built any equity, but we made a few updates to our home and optimistically put our house on the market. We weren't in any rush, but four years, one renter, a temporary duplex and a difficult short-sale process later we were no longer homeowners. In the end we lived in the house for less than half the time we owned it...and sold it for half the amount we paid.
We learned about housing markets. We learned a lot about living in Michigan during the great recession. We learned a lot about adjustable rate mortgages. We learned a lot about going it alone. We learned.
Next time: Kids, more kids... and a place we could truly call home.