This month Kathy Streib and Carol Williams are hosting the April Challenge titled "Tell Us About Your First Home Buying Experience." I have only purchased two homes in my lifetime, and I am presently living in my second home which I purchased in 1981. While the two purchases were under very different circumstances, the two were very similar in that each one our offer was accepted right away and closed quickly.
After 4 years in the Navy, I decided it was not the career choice for me, so on September 28, 1974 I received an honorable discharge, and began my civilian life once again. My departure from the Navy was soon followed by marring my to be forever wife in October 19, 1974. After a very short honeymoon, we I packed up a Ford, Pinto station wagon with our belonging, and began our trip across country, from San Mateo, CA to East Providence, RI.
Less than a year later friends at church were selling their home in Barrington, RI. We did not have any intention of purchasing a home at the time, but we decided we would take a look at it. The house was perfect for us. The house sat on a .25 acre lot, and it had 3 bedrooms, one bathroom, Living-room, kitchen, a one car garage, and was selling for $27,500.
It did not take my wife long to look at me and say I want to buy it. We had no clue what we were doing, and this was a FSBO. However, we trusted our friends and documents were drawn up. I do not remember anything about financing, or being represented by an Attorney, but in September of 1975 we moved into our first home.
We were very happy with our new home, and had great neighbors, but in just two short months our furnace stopped working. This was not good since November is the start of the colder weather in RI. Fortunately for us the house was built on a foundation with radiant heat, so the house stayed relatively warm for a couple of days, which was enough time for us to make arrangements to stay with my parents, and schedule a replacement furnace with our oil company. Luckily in the 4 years we lived there this was the only major issue we had with the house.
In 1978 I took a job as a salesman with a Material Handling Company who would be my employer for the next 26 years. However, the condition on taking the job was that I had to move to CT to cover the state for them. They gave me up to a year to get familiar with the territory before I needed to relocate. So in August of 1979 we put the house on the market for $42,000, and the house sold a week later.
I do not have any pictures of the house, but the one in the feature photo above is how it looks today, and according to Zillow and Realtor.com it is now estimated at $404,800. I am amazed at what the house is valued at today, and wish I could have kept it a little longer so that I could have gotten some of that additional equity!!!
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