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Housing Update

So, yesterday I went out and checked out my first set of homes. And found this really nice condo and asked to see it again. It's got a great location. 1/2 KM from a grocery store, backs onto a golf course, and there are some power lines at the back which means the backyard is way bigger than it should be.

I went through a dilemma last night, because I knew I was interested in that one place, but real estate moves fast and I was afraid if I waited I'd miss it. And there was this other property, in the same neighbourhood as the one I missed out on last weekend but it's not doing any showings until next Wednesday. Should I wait for the other house? Or go for this one? I ended up sitting down with a calculator and looking at my finances. The one that isn't showing until next week is $40,000 more and would really be pushing my budget. Even though it's a freehold in the suburbs I decided that I didn't want to put myself in that kind of a financial situation, not if I ever want to have money to do things (like Bluesfest! Ani Difranco! LIVE, OLP! I *have* to go).

So today I went and saw the condo again. I decided that I still really like it, and want to put an offer in for it. Thank god I have a realtor, because he did some research and discovered that the place is really over priced at the moment. Right now it's listed as $177,777 and I thought maybe I'd end up with $175,000. Turns out when the current owner bought it two years ago, she paid $153,000 for it. The last two units that sold at this condo address went for $150,000 and $155,000. Now these weren't ones that backed onto the golf course, and some in the neighbourhood have sold for $175,000 but in different parts, and they probably had work done on them. This place is nice, and there's anything major that would need to be done, but I would definitely have to paint pretty much everywhere. I don't think the current owner has painted anything but the bedrooms since she moved there and on a lot of the walls dents and nicks have been filled in but where never painted over. And the kitchen is looking a little tired and pretty much all the carpet would need to be replaced sometime in the near future. So we're thinking of putting an offer in for $165,000.

I really hope I get this one, but I think I have to be prepared to walk away too if the buyer isn't willing to come down in price.

In other news, my sister is down visiting this weekend with the baby :D


( 12 comments — Leave a comment )
Apr. 24th, 2009 03:00 am (UTC)
That book I recommended says that it's important not to get overly emotionally attached to a place. I think it's good to be prepared to walk away if the price doesn't work for you. Also, it's good to not go over budget - being house-poor can become really frustrating (I've heard).
Apr. 24th, 2009 11:28 pm (UTC)
My Realtor is coming over in about 15 minutes. We're going to make the offer, but given the information I have, I don't think the current owner is going to accept it (she very well might, but I think I have it built up in my head that she won't so that I won't be too disappointed if

Ok, I started writing this before the realtor came over, and now I'm even more nervous because it came down to a best offer situation. I'm hoping to win, but well, I have an appointment lined up for Sunday to view some other places. So. Either way, I'll end up with something I like. :)
Apr. 24th, 2009 11:57 pm (UTC)
Good luck! It's nerve-wracking waiting to hear if the offer is accepted (I just went through all of this relatively recently). I have to admit that I lost out on one house because there ended up being competition. I was sad at first, but it ended up being for the best because 1) it needed a lot of work 2) the asking price was a little high for me to begin with. But it was still this crazy emotional rollercoaster in some ways.

(Still, I ended up with a better house at a better price).

Anyway, it's true - you'll end up with a house, and something you like, one way or another! But I hope you do get this one.
Apr. 25th, 2009 01:04 am (UTC)
God, my sister was saying she just waited in the car while the seller read over the offer. I kind of wish that was what was happening for me right now. Before when I put an offer in that I expected her to counter on, I wasn't as nervous because I figured she'd have to think about what to counter with. But now I'm all nervous!

it ended up being for the best because 1) it needed a lot of work 2) the asking price was a little high for me to begin with. But it was still this crazy emotional rollercoaster in some ways.
Yeah, I kind of went through that last weekend. Not that I got to the bidding stage, but there was a place I was really interested in, but it was getting to the top of my budget. It sold before I really had a chance to get too attached to it though. A few days later I sat down and took a hard look at my finances and decided that places in that price range were just too much for me.

Ahh well, if it's not this house, I'm going to go check out some others on Sunday.
Apr. 24th, 2009 03:25 am (UTC)
I hope you get the house! Be sure to show pics if you do :)
Apr. 24th, 2009 11:29 pm (UTC)
Well, I put the offer in tonight. Someone else had already put an offer in tonight, so it was one of those "best offer" things.

But if you'd like to see the one I put an offer for, it's here.
Apr. 24th, 2009 05:15 am (UTC)
There's also always the possibility you'll find another one you really love.

When Mum was house hunting last year, she found she *really* liked but then found out there had been a fire (she's weird about fire) not long before. She ended up turning away from that one but found the one we're in now which she loves even more. So, if you don't get this one (I have my fingers crossed for you), maybe you'll find a better one.
Apr. 24th, 2009 11:37 pm (UTC)
I have my fingers crossed too, but someone else had made an offer tonight, so who knows what's going to happen.
Apr. 24th, 2009 04:14 pm (UTC)
*hopes* Good luck getting it, and kudos to your realtor for spotting that! :D

Also: BABY! XD
Apr. 24th, 2009 11:47 pm (UTC)
Baby baby! He kept yelling and giggling as I was trying to go through the offer. :D
Apr. 24th, 2009 10:06 pm (UTC)
I'm glad to see that you're making considered decisions despite the ridiculous URGENCY of real estate. You'll end up with the best possible home for you.
Apr. 24th, 2009 11:24 pm (UTC)
You obviously haven't seen my most recent post. I put an offer in tonight only to find that someone else has, so now we're in a competitive bidding situation. I'm going to know by tonight if I win or not. :S
( 12 comments — Leave a comment )

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