Some of you have asked me for the purchase price of my home and I wasn’t willing to reveal then. But now that I’ve closed escrow, it’s OK to reveal. I bought the Plan 2 of Stoney Creek single detached for $460K. Factoring the 6% from StanPac ($27,600) and $3,000 rebate from my realtor, the adjusted purchasing price would be $429,400. Most of StanPac options are overpriced by at least 20% vs. fair market value but since we wanted a move-in ready home and couldn’t wait another week or two, we nearly maxed out the credit. Options that came with the home are; granite countertop, cultured marble in bathrooms, home security wiring, home theater wiring and few other minor things. Options that I used the credit for are; upgraded paint, wood & tile flooring, washer, dryer, fridge, epoxy flooring for garage, concrete rear patio, additional home theater and security wiring, and a few minor things.
In all, I paid $185,500 to escrow, $184,000 down payment (40%) and just $1,500 in overall closing costs. $276,000 is financed through StanPac with 4.875% for 30 year fixed at 1.75 points. My monthly mortgage payment is about $1461. I know there are better rate out there today but when I locked up the rate 3 weeks ago that was the best rate. Escrow officer filled out the state housing credit form and I just had to sign. However the federal housing credit is my obligation.
I do experience some bottleneck and slow down driving to work (near Montgomery Field) and back via 52. However it’s nowhere near as bad as the I-15 commute to/from San Marcos, where I used to live. It takes me just 15-20 minutes each way.
I love the proximity to Home Depot, Lowe’s, Wal-mart and Target. This past weekend I made multiple trips to these stores, as if they’re just around the corner (which they are…just a few additional corners).
