The Inside Out of Buying your own home.
We have seen it many times at Accession Finance... You've found a house, you loved it, you made an offer subject to finance, and you trusted us to get it over the line. And we did!
This time it was our turn. We didn't mean to buy a house, we weren't even in the market! But there was an open for inspection of a house that caught our eye right near Tim's office and the school we wanted to send our boys to, so we went to have a look. And we knew it needed to be ours right away, so we made an offer and 8 little (gut wrenching!) days later, it was ours - subject to finance of course.
We have done this before for our clients, but we still live in the same home that we built for ourselves before we got married, at the age of 24 and 22. We purchased an investment property without emotion a few years ago, so this was the first time we have made an offer on a property that we really REALLY wanted in a very long time. And we felt all the feelings!
With the finance being sorted out, it was being on the other side of the equation, being the buyers and also being sellers that we really started to get a sense of the roller coaster ride our clients go through. I've broken this up into stages:
Stage 1: Joy - Part 1
You see the house and you love it. You start to picture yourself or your family in the home, walking to the local shops, attending the local schools, walking your dog down the tree lined streets. And then you make an offer.
Stage 2: Fear
The stage between the offer being made and the offer being accepted is pretty awful. If you're going to auction, then this phase is short, maybe less than half an hour from your initial bid to when the winner gets the house. In a private sale, the waiting phase can be longer. In selling our house we have seen other techniques used to motivate the seller to reduce the wait time ie - the 'we're headed to another auction this weekend' Either way, the fear of missing out, after you have imagined your new life in the house is awful.
Stage 3: Sadness
When you start packing up your old home. Oh there were some tears as we began the process of decluttering - getting rid of toys that the kids no longer play with. 'Remember when you walked me over the threshold or when we brought our boys home from the hospital.' *Big BIG sobs
Stage 4: Anger
While you're waiting for finance to be approved.... If you use Accession Finance, we can take care of the anger stage for you, as we deal directly with the lender and will find the lender that has the best chance at getting the finance over the line. Otherwise it can be awful just waiting.. waiting... waiting for a decision that may or may not be in your favour. Tim does a great job of taking the ride with the buyers, and getting our own loan over the line was definitely a great insight into what our client's experience. It's also a good idea to arrange a pre-approval if you're considering making a purchase within 6 months.
Stage 5: Disgust
When you're packing up boxes and getting ready for the big move and you find an old sandwich or a piece of fruit that resembles a science experiment.
Stage 6: Joy - Part 2
Now we're back at Joy, when the boxes are packed, you've been accepted into the school you liked for the kids and you move into your brand new home. We're still a mouldy sandwich and a relapse to the sadness phase away from moving in, but we're so so happy that the house is ours and we are so happy to be in the business of helping our clients really embrace the joy of owning their very own home.