Ryder Family Farm- Southern Illinois | We are holding our breath because we may have found OUR house…
We to a big leap of faith, quit our jobs are moved to the the heart of the Shawnee National Forest to follow our dreams of self sufficiency and to make a go of living off the land… Can we help you feed your family?
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We are holding our breath because we may have found OUR house…

We are holding our breath because we may have found OUR house…

Hopefully I am not jinxing us here but I just wanted to spread the upbeat news. With all the crappy happenings a bit of good is always nice, even if it is a bit premature…

So, we did look at a home we liked today! I mentioned it yesterday briefly (I was trying not to get my hopes up). Well today we saw it and loved it. It is actually a home similar to ones we have already toured. The catch is this one is $200 less that those other homes like it AND the owner is offering a lease purchase option.

It is smaller than we would like but it is newer, clean and could possibly be OURS! Here is a photo of the front of it.

The layout has the master bedroom upstairs, loft style overlooking the kitchen.

See that round window at the peak of the roof? It shines light in to the master bedroom.

There is a master bathroom upstairs also, then there are two rooms downstairs in addition to another full bathroom, the living room and the kitchen.

The other great feature we love is the sun room. We’ll use it as an office. Yay we could have an office and a nursery for Tater!

All in all we like it, it’s not the 4 acre farm house we have always dreamed of owning but it is a good first time home that is livable immediately and gives us the possibility to gain some equity for that future purchase of acreage and a farm house.

We are going to get in to hashing out the nitty gritty details with them soon. For those of you just tuning in we couldn’t get financed thanks to some credit report errors and a student loan that is almost back in positive status (1 month to go baby!)… So we’ve been looking at lease/ purchase options in case something fitting comes along. Renting and throwing your money away is just sucky…

Anyway, the gist of it all is that we will have to make a big down payment on the place upon moving in, then we’ll be allowed to lease the home from the owners for a set period of time. During the set period of time we are working like crazy to get our credit in order and to keep it all looking good for the mortgage company, then we will apply for a mortgage to buy the home at the end of the lease term.

The cool thing about a lease purchase option is (a percentage of) the money you pay while renting, plus any down payments made come off the total purchase price of the home once you do get your mortgage and buy the place.

It is nice because then you are leasing a home but not totally throwing your money away since some (or all of the money paid, depending on the contract terms) will come off the total purchase price of the home.

Say we agree to lease/ purchase a home for $112,000 and the owner agrees to apply 100% of our $5,000 down payment towards the purchase of the home, that brings the home’s purchase price to $107,000.

Then if we are given a 12 month lease option and $775 of each month’s rent goes towards the purchase price of the home we’ll be paying another $9,300 towards the total purchase price during the 12 months of leasing.

This knocks the price down even more to a whopping $97,700 when it is time to get that mortgage. Pretty sweet huh?

So, yeah we are pretty happy that the owners like us and are willing to consider the options with us. It is looking like the possibilities are good with this one but it is not set in stone yet.

Oh, we still have no idea about the status of our current lease but are basically just planning to leave anyway. I am almost certain our crappy landlords have voided the lease with their failure to address issues we’ve notified them of. If we need a lawyer to prove it then we will get one!

So yeah, that is the news. Yay for positive prospects (it’s about time)! Oh and my choir buddy, Scott MacIntyre made it through to the top 12 on American Idol. I am so happy for him, he deserves it! Way to go Scott!!

And…. it seems we should be getting ready for those “easter bunnies” afterall. Our rabbit, Maybelle is building her nest and is acting funny. I’ve got the camera ready to capture those little baby bunnies, now who wants one? Seriously I can’t keep them!

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  • melissa
    Reply

    That is so great. I love that house, it looks really nice from the outside and like you said, it’s a great home to start off in.That’s a good price for a house. Yeah , with your landlords actions, I think they have not fulfilled their obligations , so I wouldn’t be worried about just moving out. I’m glad things are looking up for you guys. Baby bunnies are sooo cute. I remember one easter, my cousin brought me and my lil sis 2 bunnies to my house. She talked my dad into letting us have them. We where sleeping when she came, so my dad put my baby bunny on me and woke me up but told me not to roll over, and I opened my eyes and saw the cutest baby bunny ever…. An Easter I will never forget. We are putting an Easter basket together for Adam with alot of goodies to send to him in Iraq. He’ll be suprised and happy.
    I watched American idol and saw Scott go through. I hope he goes far.
    Today Riley held out his arms and said ” Ma”. It’s not the full “momma”, but it’s pretty darn close. I was so excited. He’s only 6 months and babbles like crazy, he might be an early talker!!!!

    March 5, 2009 at 6:50 pm
  • i hope this works out. i know you guys want to get somewhere and feel settled before the baby comes. i’ll keep my fingers crossed.

    Mitzis last blog post..On My Mind

    March 5, 2009 at 7:14 pm
  • Hooray! Crossing fingers for you.

    witchypoos last blog post..Whelmed

    March 5, 2009 at 9:16 pm
  • It looks so cute and clean and so un-moldy! I hope things work out so you can get it.

    Karens last blog post..Finally! I Have Cookies!!!

    March 5, 2009 at 9:42 pm
  • Wow– That house looks great! I really REALLY hope you get it. All that sunshine!

    Hyphen Mamas last blog post..Oh, Brother!

    March 5, 2009 at 10:56 pm
  • I’ve got my fingers crossed for you too!

    March 6, 2009 at 5:19 am
  • Starr
    Reply

    This house looks great! Good luck and forget about your landlords there is no way they are gonna take any action against you anyways if they can’t even tell you how to pay your rent!

    March 7, 2009 at 1:53 pm

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