How a single black mother purchased her dream home
How a single black mother purchased her dream home. The truth is she didn’t do a lot of research. But, her desire to own a home motivated her to search long and hard for a home to purchase. Besides providing a stable home for her family and moving out of the projects, Sharon wanted to show her kids home purchase and living the American dream was possible.
A Facebook post
After connecting with a realtor online and seeing homes in Long Island she quickly found her home buying budget limited her to small, old homes which required a lot of work. Sharon never sat with a loan specialist before seeing homes and her realtor never bothered to ask for a pre-approval letter. As time went by Sharon felt let down and imagined a life where she would pay rent forever. However, via Facebook she continued to search and connect with realtors willing to show her houses within her price range. Continue reading how a single black mother purchased her dream home.
Taking a chance
Sharon never gave up her dream of home ownership and on a whim decided to look at homes outside of her general area. That search took her to Middletown, NY. Most people in NYC will say the same thing when they hear the city on Middletown mentioned to them. Middle what? As many of us did when we first heard of her plan to purchase a home in Middletown, NY. However, the house was beautiful and the price was just right.
The road to home ownership can be long or seem impossible to some. Having a budget and knowing your numbers is very important. Simply dividing the purchase price by 360 (30 year mortgage) will give you a rough idea of what your minimum payment could be but it does not take into account other expenses.
We always recommend planning for a home purchase the following way. Saving and budgeting 12-24 months. House search and closing 30-90 days,
How a single black mother purchased her dream home
Sharon was surprised at how much her monthly payment increased when taxes and insurance were included. She was also surprised by her first large water bill. Most people don’t pay water bills in NYC apartments. However, Sharon was able to purchase her dream home as a single black mother. She accomplished a dream our mother had but was never able to obtain.
Today we all gather at her big beautiful home for family dinners and bdays. I’m committed to helping other single black mothers purchase their dream homes. At the time of her purchase Budget Build Buy was just an idea. However, today Budget Build Buy is a resource for others to create a plan and to purchase a home in 12-24 months.
Are you ready to buy your dream home?
