BudgetHouse Renovator Series Introduction

A New Budgeted Lifestyle

I am currently on a life-changing journey that I hope will prove informative and interesting to those who have the fortitude to follow me on this trek. Recently moving out into the country, I suddenly find myself dealing with issues indigenous to a “frugal lifestyle.

Something that now dominates my life is the lack of extra spendable income. In the past, finagled all sorts of ways to create dollars and cover expenses. I was a General Contractor for most of my working years. That business took its toll on finances. Workman’s comp, federal and state taxes, license fees, equipment repairs, and other expenses were a burden. It is very difficult to be a self-employed entrepreneur and set money aside for retirement.

This is Part 1 in the BUDGETHOUSE RENOVATOR series that involves the search for, location of, and unique auction-style purchase of my home in the country. This article is the Introduction. The series includes dealing with a foreign based auction house and escrow to help facilitate this transaction. Also, I show how I worked with a mortgage broker programmed to process my “specialized” combination FHA 203k Program  loan. This loan included funds to buy and also repair my house. Part 2 is the “Secret FHA 203k Program for Home Buying”.

I decided to wait until the age of 69 to start collecting on my Social Security. I found out quickly that I had to do a massive reset on my budget. At that time, I was living in an old apartment building. I brought it back from the dead back in 2003 in South Florida. It ran it’s course and I’d finally had enough. I wanted out of there and away from traffic, noise, and the high cost of a downtown lifestyle.

It was my desire to retire in a house away from the harshness of city life. I did not want to leave the state because I hate living in freezing environments. I desired to move somewhat further north away from where I had spent the last 6 years.

So this house-finding story is part of the new arena that I have entered. Looking for and finding my retirement home is the most challenging event I have ever faced. But for the grace of God, it would not have happened. 

I had started to collect Social Security and was facing a tight monthly income. Buying my house seemed like an impossible task. That also goes for someone with more substantial resources than mine. But it got done and I want to share what I went through and what is happening now.

I am starting this series as a developing (and ongoing) story that will include many individual steps that I took. Steps to look for, find, purchase, and renovate my house. It would take the help of a  special Federal Government program that few people know about.

This is my “Budgethouse” and I feel that it will be the last house I own and live in. It has been an incredible story. I hope you will join me in this still developing saga that, I believe, will continue to evolve.

My next article in Part 2 is entitled Secret FHA 203k Program For Home Buyingand will show the first steps in this adventure.



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