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Today, a single mom shares how she had almost given up on owning, when a surprise financial gift allowed her to buy in an up-and-coming area of Orlando, Florida.
The basics
Age: 37
Pronouns: She/her
Marital status: Single with a daughter
Occupation: Instructional Systems Designer
Household income: $87,000
What was your home experience when you were growing up?
My parents were divorced. My mom always owned, and my dad always rented. I always thought homeownership was a given. Then, I got older and realized how expensive life was. For the last 10 years, buying a home seemed unrealistic.
When did you start thinking about buying?
I’d been estranged from my mom for a few years, and then we reconnected. I was surprised when she gave me the money for a down payment. That changed everything.
What was your living situation at the time?
I’d been renting a condo, and luckily, they were letting me rent month to month.
How long did you look before finding your home?
About five months. I started looking in April. I closed in September.
Did you have any non-negotiables?
My list was short. I wanted to be in Orlando and didn’t care all that much about which part of town so long as it felt safe. I did need to be close to my daughter’s school, and we needed two bedrooms and 1.5 baths.
How many homes did you see in person?
At least 30 in person, all with an agent. Most of them needed major, major work. The search started to become depressing. The longer I searched, the more I realized that I couldn’t afford the areas that I really wanted to be.
Did you make any other offers?
I made two other offers. With one, they let me know they had another offer. They were trying to get me to offer more money, and I just couldn’t. I think they weren’t telling the truth because after I passed, the home stayed on the market for many more weeks. With another home, my mom really liked it and pressured me to put an offer in before I saw it. I did because it had good bones and was in a good location. But then I saw it in person. I took one look. It was disgusting.
How did you know this was the one?
By the time it came on the market, I had been searching long enough to know what to expect. The home was within the areas that I liked enough and it was in better shape than everything else I saw in my price range. The sellers had also just put on a new roof and installed new air conditioning, a new water heater, and a new drain field for the septic.
What was the offer process like?
The home hit the MLS, and within two hours my mom texted me the listing. I happened to be off of work that day. I called my Realtor®, we met there within 30 minutes, and were the first to see it. I put in an offer that night, and mine was the first. The next day they had three more.
What happened next?
My Realtor called the other Realtor, and shared my story—that I’m a single mom who had been looking for a long time. The other Realtor suggested that if I raised my offer by $3,000 that the buyers would likely accept. We updated the offer, and they accepted.
Was the entire down payment the gifted money?
Yes, but the initial amount my mom gave me wasn’t enough. When she saw the homes that were available at the lower price points, she gave me another $50,000 but was clear she couldn’t go any higher.
Were there any issues with the down payment being a gift?
It was a non issue. The mortgage is through Navy Federal and was very easy to work with. It never came up.
What advice would you give prospective homebuyers?
It’s a roller coaster of an experience. I would tell people to be patient, even though I almost gave up. I lost heart toward the end and started looking at rentals.
Do you like the area of town you bought into?
It’s definitely up and coming. It feels like it will be a good investment. I have a few friends in the neighborhood, so it’s nice to have them nearby.
What do you love most about the house?
The whole house is filled with windows. When I open the blinds, there’s so much light coming in. That brightness feels so good.
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