This is by far the scariest thing I have ever done in my life. It's probably the most exciting, too.
Dan and I put an offer on a row house in Lawrenceville last week. Lawrenceville, if you aren't familiar, is one of those up-and-coming neighborhoods that used to be pretty sketchy, but has really turned itself around over the past decade. Or rather, people came in and turned it around.
We've rented in this neighborhood for the past 3 years and loved it. We knew we wanted to buy eventually, but the right opportunity was hard to come by. Houses were either $50,000 and in need of $100,000 in renovations, or they had already been gutted and flipped and listed at $200,000+.
Just to give you an idea of growth in the area, the house we made an offer on last sold in 1973 for $10,000. The current seller listed the house at $160,000 in early 2014. Home values in the area are projected to rise another 7% over the next year. Now you know why everyone is talking about Pittsburgh.
So we're doing this thing. Pending a successful inspection, appraisal, and loan process, we will be homeowners in December. There are so many projects we have buzzing around our heads, as well as obstacles ahead of us, that I feel it is only right to share them with you. We're going to need some cheerleaders over the course of this adventure.
And we might need you to remind us that this, above all else, is an adventure.