|
Moving Stories Continued...
06-05-2006, 04:45 PM
|
#1
|
Recycles dryer sheets
Join Date: Mar 2006
Posts: 54
|
Moving Stories Continued...
Well since my last post I've been busy. I took off to our new city and bought a house over the weekend. It's more money than I planned on spending(190K), but my goodness you get alot more house for about 25K more than I was planning on.
My agent summed it up best. "For an extra 25K you get about 60K more of a house" He isn't kidding. I went from an ok area with a fairly good house to a great area and within two blocks of a two schools with a great house that only needs some flooring and paint.
So that got me thinking, how often does this occur? Does every market have thresholds were the houses go from 'ok' to 'OH MY!' for only 20K more? Or is this just an odd local thing?
I look forward to everyone's stories.
CF
__________________
Warming up to FIRE while trying to avoid the cold!
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
Re: Moving Stories Continued...
06-05-2006, 04:56 PM
|
#2
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,022
|
Re: Moving Stories Continued...
Quote:
Originally Posted by Canadian FIRE
So that got me thinking, how often does this occur? Does every market have thresholds were the houses [you] go from 'ok' to 'OH MY!' for only 20K more? Or is this just an odd local thing?
|
It's universal. Happens at auto dealerships every day. Just ask CFB.
__________________
Numbers is hard
|
|
|
Re: Moving Stories Continued...
06-05-2006, 06:35 PM
|
#3
|
Recycles dryer sheets
Join Date: Feb 2006
Posts: 403
|
Re: Moving Stories Continued...
Canadian - what city was that in?
|
|
|
Re: Moving Stories Continued...
06-06-2006, 07:10 AM
|
#4
|
Full time employment: Posting here.
Join Date: Apr 2006
Posts: 897
|
Re: Moving Stories Continued...
Quote:
Originally Posted by Canadian FIRE
So that got me thinking, how often does this occur? Does every market have thresholds were the houses go from 'ok' to 'OH MY!' for only 20K more? Or is this just an odd local thing?
I look forward to everyone's stories.
|
Yeah, similar thing happened to me. *Spend 80-90 for total junk? Or spend 117 and it was totally remodeled on the main level and basement. *Slam dunk. *Lotsa similarities compared to what you experienced... we kept trying to stay around 100k ... all junk. * The decent ones were 110, the "excellent" ones were 135+. *Got lucky and found one the sellers were really tryin' to move, at an in-between price.
-CC
__________________
"There's those thinkin' more or less, less is more, but if less is more, how you keepin' score?
It means for every point you make, your level drops. Kinda like you're startin' from the top..." "Society" - Eddie Vedder
|
|
|
Re: Moving Stories Continued...
06-06-2006, 07:23 AM
|
#5
|
Thinks s/he gets paid by the post
Join Date: Oct 2004
Posts: 1,719
|
Re: Moving Stories Continued...
Quote:
Originally Posted by Canadian FIRE
Well since my last post I've been busy.* I took off to our new city and bought a house over the weekend.* It's more money than I planned on spending(190K), but my goodness you get alot more house for about 25K more than I was planning on.
My agent summed it up best.* "For an extra 25K you get about 60K more of a house"* He isn't kidding.* I went from an ok area with a fairly good house to a great area and within two blocks of a two schools with a great house that only needs some flooring and paint.
So that got me thinking, how often does this occur?* Does every market have thresholds were the houses go from 'ok' to 'OH MY!' for only 20K more?* Or is this just an odd local thing?
I look forward to everyone's stories.
CF
|
Congrats on the new house. It sounds like you're really pleased with your purchase -- and that's the most important thing. As for "okay to OH MY!", that doesn't happen all that much in higher-priced housing markets. With that said, the key in high-priced housing markets is to focus on "potential" and the costs associated with reaching that potential. For example, if you find a 1970s (or earlier) house in a great school district, it's not likely to be showcase quality. The carpets, kitchen, bathrooms, etc... will need to be remodeled to various degrees. Yet if you educate yourself on what it might cost to put in new carpets, kitchen cabinet refacings/new linoleum, and the like, you can often find a real gem of a house that only needs $10-15k of TLC to shine. Although nobody likes to part with that kind of money out-of-pocket, you will have the advantage of customizing your new house to your tastes, rather than the tastes of its prior occupant(s). To ease the pain, you can (and should) remodel things on a "rolling" basis. It's hard to tackle the remodeling of different types of rooms at the same time, while still holding down a full time j*b.
Not to hijack this thread, but I think "okay to OH MY!" happens more often with cars and similar purchases. For example, you can go from a Hyundai to a Honda for 20% money, and you'll definitely notice a large difference in quality.
__________________
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
|
|
|
Re: Moving Stories Continued...
06-06-2006, 10:33 AM
|
#6
|
Recycles dryer sheets
Join Date: Mar 2006
Posts: 54
|
Re: Moving Stories Continued...
Quote:
Originally Posted by macdaddy
Canadian - what city was that in?
|
Regina, SK
It's a 2 story split.* 1550 sq ft and a perfect layout for a family home.* I will be slowly updating it.* Similar houses are going for 208K in the area and I got in at 190K so I can stand to drop in some cash.
How do you post a picture to the site? I got a nice shot of the outside.
Interesting, I never thought about the car comparison, but it works.* Keep it coming.
CF
__________________
Warming up to FIRE while trying to avoid the cold!
|
|
|
Re: Moving Stories Continued...
06-06-2006, 04:21 PM
|
#7
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
|
Re: Moving Stories Continued...
Quote:
Originally Posted by REWahoo!
Quote:
Originally Posted by Canadian FIRE
So that got me thinking, how often does this occur? Does every market have thresholds were the houses [you] go from 'ok' to 'OH MY!' for only 20K more? Or is this just an odd local thing?
|
It's universal. Happens at auto dealerships every day. Just ask CFB.
|
Oh Jeez Louise...
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
|
|
|
Re: Moving Stories Continued...
06-06-2006, 04:31 PM
|
#8
|
Moderator Emeritus
Join Date: Feb 2005
Location: San Diego
Posts: 5,267
|
Re: Moving Stories Continued...
REW, you keep pushing CFB's buttons and he's going to take a certain fruit's name in vain again!
Whaddya expect CFB, you think a board full of tightwad LBYM is going to let you actually enjoy your money??
|
|
|
Re: Moving Stories Continued...
06-06-2006, 04:46 PM
|
#9
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
|
Re: Moving Stories Continued...
I have money?
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
|
|
|
Re: Moving Stories Continued...
06-07-2006, 06:15 AM
|
#10
|
Recycles dryer sheets
Join Date: Oct 2005
Posts: 60
|
Re: Moving Stories Continued...
May be I should move to Canada. Where I live for an extra $20K you can may be get $10 (not, not a typo, I mean ten dollars) worth of "extra" house".
I can't find the crying icon
Lena
|
|
|
Re: Moving Stories Continued...
06-12-2006, 07:49 PM
|
#11
|
Recycles dryer sheets
Join Date: Jun 2006
Posts: 322
|
Re: Moving Stories Continued...
Hi
Being an Rei guy I think its the other way around. You go below a certain number and suddenly roofs are optional ...Or was that plumbing.
|
|
|
Re: Moving Stories Continued...
06-12-2006, 08:23 PM
|
#12
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
|
Re: Moving Stories Continued...
With no roof, you dont need plumbing. Water just magically appears from time to time.
I'm still convinced that indoor plumbing was some guys idea to impress a woman. It makes absolutely no sense at all.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
|
|
|
Re: Moving Stories Continued...
06-12-2006, 08:33 PM
|
#13
|
Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
|
Re: Moving Stories Continued...
Quote:
Originally Posted by Cute Fuzzy Bunny
I'm still convinced that indoor plumbing was some guys idea to impress a woman.* It makes absolutely no sense at all.
|
Maybe not from an engineering perspective, but when's the last time you used outdoor plumbing in the middle of the night/winter? That leaves an entirely different type of impression!
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
|
|
|
Re: Moving Stories Continued...
06-12-2006, 08:38 PM
|
#14
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
|
Re: Moving Stories Continued...
This probably isnt a good time to relate how often I pee in the back yard...
And then theres all the times the dogs want to go out to the front yard at night...i'm already there...
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
|
|
|
Re: Moving Stories Continued...
06-12-2006, 10:16 PM
|
#15
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
|
Re: Moving Stories Continued...
When we lived in 'Houston' [Clear Lake city], we foiund we could buy a house with a pool for the same price as one without a pool. We bought 'with'. I suspect that things have not changed in 20 years.
El Gitano
__________________
I have outlived most of the people I don't like and I am working on the rest.
|
|
|
Re: Moving Stories Continued...
06-13-2006, 04:09 AM
|
#16
|
Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 2,713
|
Re: Moving Stories Continued...
A lot of RE articles talk about pools as a potential negative: many buyers don't want the added maintenance, utility costs and insurance/liability.
As far as indoor plumbing is concerned, does anyone else have a dog that is perplexed by the fact that you poop/pee in the house and not way the hell away somewhere? I swear our dog thinks we are mentally deficient (for that reason, there could be others... ).
I've always lived in areas with kind of 'anomalous' housing markets, but if I think about the area I grew up in which is a bit more 'homogenized', I'd say, yes.. 10% more will get you something 'everyone else' doesn't have. I assume it's a function of the local labor market and salaries that keep a 'cap' on what you can effectively charge and what people are likely to do in terms of improvements/additions. Also local custom.. I think about Somerville, MA where the prices started going up and up, for the same triple-deckers with either asphalt or vinyl siding (or worse, asbestos). Few buyers or sellers, however, felt the need to "go upmarket" and spend extra to replace the chainlink fence with wood, or to put on wood siding, despite the fact that the houses were going for half a mill.
P.S. congratulations on your new home, Canadian FIRE! May you enjoy it for many years to come..
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|