Tag Archives: home buying

August 2025 – $451k and Pending Home Purchase

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12/9/24 End of Year Preduction

Almost 8 months I predicted I would have $455k net worth by the end of the year. Currently I am about a stone’s throw away from that or up $66k from the start of the year. My goal is closer to $2M come retirement age. That doesn’t necessarily have to be all investments though, one could argue I should diversify just a little bit.

Home purchase updates:
1. Offer made on a home, final selling amount is down to about $351k, my mortgage payment estimage is just under $2,900 including insurance, taxes, and interest. I originally offered full asking price before asking for another $3k which will be covered by a concession made with the agent’s commission.
2. Concessions – There are quite a few including: Replacing 24 year old microwave with stainless steel model, redoing tile in the bathroom to replace cheap fiberglass, replacing defective dishwasher, (didn’t ask for it but cost prohibitive to repair) fixing or replacing the garbage disposal, replacing flex pipes under sink with PVC, installation of a dryer vent in the garage, have a licensed plumber do needed repairs to fix low water pressure, have HVAC system serviced by licensed professional, adding ground and neutral wires to the sub-panel box, cleaning out gutters, repair a damaged sewer cleanout cover
3. Massive cleanout of clothes that either don’t fit or were out of style. Bf helped me with the majority of packing. 90% of things I am not actively using right now are packed away.
4. Setup – Water and electricity switched over, Pest control appointment made, alarm system provider chosen,
5. Furniture delivery date set, ordered a loveseat, sofa, bookcase, and swivel chair from Nebraska Furniture Mart for ~$1,030 plus a $140 shipping charge. I ordered the furniture 4th of July but the prices dropped since then so I was able to place a new order through a super helpful store associate. The chair was on clearance for a whopping $80. If I had just that item shipped it would’ve been $140 to do so but with the other order they were able to just get it added to that.
6. Moving company and time + date selected
7. Electric lawnmower, blower, and trimmer tools purchased. Got an incredible deal for all 3 from Lowe’s. $566 less card cashback and 2% cashback from an affiliate link
8. Bf isn’t moving in with me right away but we decided on $ a rough amount he would contribute toward the payments that would be win-win for him as well as me. Utilities I said could be TBD but planning to cover on my own.

The main thing I’m trying to do right now is make sure not to overextend myself. The lawn equipment I sold some investments to cover. I also pulled $10k from my Roth IRA for a first time homebuyer credit where I won’t have to pay a penalty to the IRS. I really debated for a while whether I should run lean and just let that money grow or keep it as an emergency fund to help me sleep better at night. I chose the latter. Having less than 2 months of cash in hand is cutting it dangerously close. With mortgage payments being roughly $1600/mo more than my rent I knew it would take me significantly longer to build up reserves.

Other notable things this month

-I dropped about $471 on my car after driving hard in the rain caused the plastic undercarriage piece to unlatch from the car and drag on the ground. Also decided to get an alignment at the same time. They had my car for 8 days which I wasn’t thrilled about.
-We saw a lovely artist Mereba live in concert. She’s fusion of different genres, R&B, Rap, Soul, Folk music. Very unique experience, definitely recommend.
-4th of July pool part with friends despite the rain, coincidentally was at Home Depot buying gloves to help bf move into place when the fireworks went off. Got some really good shots in.
-Went to New York for work and saw family for a few days. It was a low budget trip to me. Flights, hotel, meals covered by work during the 3 day period. Then time with my parents doing dinner / eating out regulary and putting on 8 pounds which I subsequently lost in a week.

7/30/20257/1/2025Difference% Change8/3/2024YoY Diff% Change
401K$ 360,084$ 348,738$ 11,3463.3%$ 271,447$ 88,63732.7%
Roth IRA$ 49,304$ 57,216$ (7,912)-13.8%$ 42,544$ 6,76015.9%
Brokerage Accts$ 1,805$ 3,710$ (1,905)-51.3%$ 3,520$ (1,715)-48.7%
Cash$ 35,018$ 23,743$ 11,27547.5%$ 3,759$ 31,259831.6%
HSA*$ 4,901$ 4,691$ 2114.5%$ 3,617$ 1,28435.5%
Total$ 451,113$ 438,098$ 13,0153.0%$ 324,888$ 126,22538.9%
Credit Cards$ –$ –$ –#DIV/0!$ –$ –#DIV/0!
Auto Loan$ –$ –$ –#DIV/0!$ 7,497$ (7,497)-100.0%
Net Total$ 451,113$ 438,098$ 13,0153.0%$ 317,390$ 133,72342.1%

They say a lot can happen in a year and it’s true. I never would’ve imagined my net worth would be up $133k in a year. Compounding is a powerful force. At this rate if the forces behind my come up continue I will break $500k NW in 2027, $600k in 2029, and $1M in 2032.

Sharing a few pictures…

I had a 70 year old woman that lives on the same block I grew up on who I haven’t seen in 25 years suddenly take an interest in who I was dating. I posted a pic of my great grandparents from around the 1930s and she in all caps had the nerve to ask what would they think if they knew you were gay. Her son is special needs and her other son died in his sleep when he was 7 so she of all people shouldn’t try to tell others how to live their life. Nope. Before that she commented on a pride related post of mine saying she didn’t know I was gay even though I’d been out 21 years at that time. The son also left me a voicemail on fb messenger saying we’ll always be friends but don’t be promiscuous or something to that effect. Just blocked them both. The moral of the story is life is too short and life with peace not drama. Someone I worked with died at age 40 just a day or 2 earlier, I was her boss around 2007/2008. Managing her with a chronic health / lung condition was very challenging but she was still a very kind-hearted person who made lots of friends along the years. I wish the best to her husband and family. The service is about 4 days and 1600 miles away I def won’t be able to attend. Death has become all too familiar over the years, I still like to think in terms of what’s possible in life and living to the fullest.

Signing off, I should be asleep now. This is all uncharted territory for me and I’m taking it one step at a time. I desperately am craving the additional space. 5+ years working from home in my 1 bedroom or living room in a 700 sq ft. is tough. Over a decade living here in general. I’m just done. They never fixed the spot where the water leaked, tub looks so rundown. A friend came by to drop over boxes and was like I can’t believe you stayed here that long. I never invited her over though I’ve known her for about 4 years. No one can say I didn’t sacrifice.

Buying a House! – $438k – July 2025

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Wake up, wake up, wake up
It’s the first of the month (wake up, wake up)
So get up, get up, get up
So cash your checks and come up (get up, get up)

So yeah it’s July 1, 2025, the month of June was a jam packed one. My bf and I went to Porto, Paris, Versaille, Leeds Castle, and London all on one trip. As non world-traveled person I was a little overwhelmed with the notion but decided to plan ahead as much as possible. I call this a once in a lifetime trip. I took over 1,900 pictures, these are some of the better ones.

7/1/20255/31/2025Difference% Change7/1/2024YoY Diff% Change
401K$ 348,738$ 328,591$ 20,1476.1%$ 273,612$ 75,12627.5%
Roth IRA$ 57,216$ 53,866$ 3,3506.2%$ 42,536$ 14,68034.5%
Brokerage Accts$ 3,710$ 3,278$ 43213.2%$ 3,079$ 63120.5%
Cash$ 23,743$ 26,917$ (3,174)-11.8%$ 3,222$ 20,521636.9%
HSA*$ 4,691$ 3,523$ 1,16833.1%$ 3,799$ 89223.5%
Total$ 438,098$ 416,174$ 21,9235.3%$ 326,248$ 111,85034.3%
Credit Cards$ –$ –$ –#DIV/0!$ –$ –#DIV/0!
Auto Loan$ –$ –$ –#DIV/0!$ 8,853$ (8,853)-100.0%
Net Total$ 438,098$ 416,174$ 21,9235.3%$ 317,395$ 120,70338.0%

Onto the monthly financial updates, I am up 5.3% or $22k thanks to my savings and an uptick in the market. My HSA is asterisked because I don’t think I fully captured the balance in previous months. It’s a good amount on paper and I’m glad the number is going up. To be up $121k or 38% a year just blows my mind though. When I started this blog 13 years ago I was just trying to get to breakeven. My how times have changed. A few days ago I chagned my 401k contribution amount to get the match. No more, no less. It may slow my progress a bit but shit I have some other short term priorities.

So as far as the home buying process is concerned. Let me run it down.
1 – The townhouse I liked but had reservations on due to the fact it was a townhouse with an HOA with a small driveway and over 2200 sq ft. Just too much space for 2 people if you ask me. Not to mention the expected utility costs. Also the adjacent unit was under renovation and who knows what the neighbors you share a wall will be like.
2 – The house I really really fell for. It had a pretty new roof, lots of natural light, vaulted ceilined. However the elderly man had mobility issues and was adamant about doing a leaseback where he’d rent from me until the time the property was sold. Looking back maybe that was a blessing in disguise, it was under 1300 sq ft and a 2/2 and the seller actually raised the price the same day I made my offer. Wild. Then we discovered it needed some major foundation work. Plus there were issues with improper drainage which was apparent with the mud in the backyard and there wasn’t any grass on the property just mulch. So that was a bust, lost my inspection money but got the earnest money back relatively quickly.
3 – House I currently have an offer on. Inspection was supposed to happen yesterday but wasn’t told the bathroom was going to be ripped apart prior to the inspector showing up. Oops. So it might happen today or possibly another day. This property has the foundation work already done along with renovations. Closing is supposed to happen early August. Really hoping third time is a charm. I’ve seen over 15 individual properties and driven past an additional 10 before ruling them out. No duplexes, nothing that looks like someone died or was tortured in the home, nothing with major foundation work needed. It’s a 3/2, over 1500 sq ft. a deck, privacy fence. I’m excited but also a bit cautious about the process especially managing it on one income the first year. One way or another I’ll be out of this apartment by late August.

I will need about $19k at closing, plus the cost of movers, paying the homeowners + car insurance upfront of ~$3,200 and maybe buying a new couch. So let’s say $6k between now and then. Hence why I’m temporarily pulling back on the retirement, maybe until the end of the year and ramping back up for 2026. Six month emergency fund target is $18k and it’s going to be challenging to hit with one income contributing to the mortgage.

On a positive note the bathroom remodel looks pretty nice, that just got finished today. Pardon the dirt inside, that’s leftover from the construction. Beforehand it was this cheap fiberglass stuff that was attached to the wall securely but tapping on it felt cheap and made me think ok how long is this going to last. This also will help with resale value. Also I likely won’t be doing any major home repairs in the first year or so. The big thing as long as it’s in my power to do so is not to put any expenses on credit cards that won’t be paid in full over the course of a month.

I’m supposed to get a detailed inspection report soon likely tomorrow or Saturday. Took notes of things called out by the inspector.
1. Water pressure – low, also some leaking near water main. Gave demo of bathtub and sink water running at same time, sink dropped to a trickle. Is it a major plumbing issue or something minor?
2. Insulation in attic – not fully insulated, makes A/C work harde
3. Electrical box – Safety concerns no ground rod and wiring for some of the outlets
4. Carpenter ants – frass in front bedroom window – needs to be treated.
5. Washer dryer hookup – No vent from where the dryer would physically be, currently located on other side of the building. 
6. A/C 5 ton unit should be 2.5 so may be oversized for the house – inspector to lookup and verify
7. HVAC system not intaking enough air for the unit, temp drops too quickly without dehumidifying the ai
8. Roof – minor damaged from tree branch exposed fasteners
9. Leak in the master bedroom ceiling – Staining but not sure if root cause was fixed
10. Dishwasher – Kitchen – Doesn’t open fully without hitting the oven due to the narrow clearances / handle sticking out of bottom tray. Dishwasher was originally on the opposite side of the sink and moved over.
11.Garbage disposal – not functioning in the kitchen likely needs to be replaced.
12. Microwave – Have addendum for stainless steel, still see the white microwave in there as of 7/4

Foundation looks good but was told I will likely will see cracks in the walls over the next year as it settles. Inspector recommends leaving it for a year then doing the surface-level repairs. There is another home I was going back and forth on but hate the kitchen and kitchen layout though I do like the solar aspect of it. Everything has tradeoffs, I still like what I see overall. though in current state I’d give it a 6.5/10, getting fixes for some of the big items would bring that up to an 8. I don’t want the hassle of trying to address things myself plus some of the basic things will really lower the appraisal of the seller doesn’t address. I haven’t hit the buy button on furniture or appliances yet but weighing different options. I have a couple factors working in my favor but we’ll see. I still want out of this apartment. Fingers crossed on the third one being a charm. My option period ends in under a week. 😬

Anyway thanks for reading this if you’re still out there. Happy 4th of July! Pictures below taken 7/3/25 at a nearby Home Depot parking lot as I was going to buy work gloves. Peace out.