Found 2 we like, but as always there is a dilemma (still one more to check out). I even did a ranking system based upon 9 criteria and they come out even (with slight advantage to 1 that had a bonus factor)
House 1
Positives
Great location
Good resale value later on (great county, low taxes, good school system, very low crime) we don’t plan on kids however
Close to my family
1.5 acres of land, not entirely flat, but decent
love the style of house
Negatives
small kitchen
bad interior layout of rooms, bathrooms, etc
basement could be better
needs maybe 10k worth of work (appliances, flooring)
at the upper end of our price range, outside at current price
30 mile one way trip to work (I don’t mind driving, but close is always nice)
House 2
Positives
Great potential
good kitchen
built in book shelves (this is actually a big plus for both of us)
fireplace
2 living rooms
X-Factor (2 car garage with room for a car lift)
decent basement unfinished
Very low priced
Negatives
not sure on potential resale value, may not be the best
high county taxes in comparison about $1,000-$1500/yr
close to work (5 miles)
train tracks 200ft out the back door (don’t think it’s frequent though)
needs about $30k in work done (but still great price and well within our budget)
road into the house is dead end, with only enough room for 1 car (maybe 5 houses on street)
Have you looked at a lot of them? My wife fell in love with the first couple of places we looked at, and I kept telling her to reign it in. Not sure about your area, but there were a lot of places going at very competitive prices when I bought in March.
I went for a conservative price range that will be manageable now and in the future as cost of living adjusts upward, taxes rise and other unpredictable “shit happens” factors come in to play, rather than pushing the limits of what was affordable. As millions of people have found out in the past couple of years, mortgaging your future for your present is not a good idea.
I’d go with one that has the most realistic bottom line now and in the future, rather than worrying about resale price projections. Any place will appreciate to some degree. Whether or not you will be there for it as an owner is not guaranteed.
Also, when I say resale value, I really mean, desirability of the area leading to a faster sale.
I do want to live in a place that I know we will be able to save quite a bit each month, rather than being strapped for cash in the event of major repairs or something.
We’ve looked at maybe 12-15. One more to check out that looks promising, only thing is it’s a short sale
I’d go with house two. The look of the house, yard and detached garage are appealing. The big plus, of course is the much lower price. It gives you the spare cash to make changes the way you want them to be made. Part of buying a house is the intangible once you’ve examined your list of pros and cons. The minute I walked into the house I’m in now, if felt like my home and I have no intention of leaving even now, 11 years later. It’s had its’ issues and warts but the feeling of coming home to a home you love, is very good.
I like the 2nd house. When we bought our house, we made sure we could handle it and all our bills on one salary. This was probably the best thing we ever did, because when I was laid off, at least we didn’t have to worry about the house.
[quote]pushmepullme wrote:
I like the 2nd house. When we bought our house, we made sure we could handle it and all our bills on one salary. This was probably the best thing we ever did, because when I was laid off, at least we didn’t have to worry about the house.[/quote]
[quote]pushmepullme wrote:
I like the 2nd house. When we bought our house, we made sure we could handle it and all our bills on one salary. This was probably the best thing we ever did, because when I was laid off, at least we didn’t have to worry about the house.[/quote]
[quote]pushmepullme wrote:
I like the 2nd house. When we bought our house, we made sure we could handle it and all our bills on one salary. This was probably the best thing we ever did, because when I was laid off, at least we didn’t have to worry about the house.[/quote]
good point[/quote]
Also means a lot of cash for savings and play.[/quote]
yeah, 2 important things.
We also owe a ton in student loans, so it would be nice to pay those off ASAP
House two seems to be way better. 70k cheaper and 5 miles to work? You’ll prob save on gas the money you’ll be paying in taxes and you wont have to drive that far. Could even bike to work.
we decided (just tonight) to put an offer on the 2nd house.
wouldn’t you fucking know it 30 mins later I get an email update that it went under fucking contract. SOB!!!
the 1st is just way too out of our range along with not as good of a fit. There is one more to check out that looks very promising, but it’s a short sale
