House Purchase Advice

[Ryan T]

So after looking for months and months we finally found a place we really like (were renting the townhouse we are in), made an offer, they accepted it, signed, got our loan and now we are just waiting on the inspection and everything to go well, then close which will be around the end of April. It's a 3 bedroom, 2 bath, 2 car garage on a little over half an acre in a nice subdivision. I'll start a project thread once we get the ball rolling on it. This is a project/starter home. The day we close we are going to rip all the carpet out of the entire house and everything is getting hardwood floor. The lenolium (sp?) in the bathroom is being taken out and we are putting in tile. Then paint, then move all our stuff in. It'll probably take us a week to get the floors and paint done. Then it's just little bathroom updates, kitchen updates, etc. Our plan is to live in it for 5 or 6 years then sell it. Given what we paid for it (older lady lived there and recently died, her daughter is selling the house) and what other fixed up houses in the neighborhood sell for we should make about ~$30k.