DD and BF have started looking for a house in commuting range to Philly. I can’t talk about other locales but here it is a sellers market here . She asked the Mrs and I to come along to see a couple of the houses. $350,000, their initial budget, buys a starter home. The first house we saw was small and I’d swear everything that was done was done wrong. You’ve no doubt heard that saying “God is in the details” well the devil is in shoddy work and poor quality materials. The realtor asked me what I thought. “I said there is a hole in the sheetrock behind the electric imitation gas stove. The deck has an illegal 9” step 6 feet long. I saw that in the first minute” There was that and so much more. The second house was a flipper but the investors did the bear minimum. Bottom line - both houses the bones were wrong and they had insurmoutable flaws. No deal.
On Sunday we saw a $400K beauty but by the end of the next day there were 7 offers, 2 were full price, cash offers. They were significantly higher than previous ‘comps’. I call it a ascending bottoms. I explained to the DD that she needs to be ready to pull the trigger quickly. I can understand her frustration. Her and the BF are better off then most, good salaries and a nice down payment.
I have no fear of fixer uppers, The Mrs. and I brought one and redid it all. We however went top drawer - whatever we bought and replaced was quality. A fixer sure but there must be potential. We looked at 25-30 houses before we found that little Cape Cod fixer. We lived there more than 10 years-it was a little house but I loved it. We bought less than we could afford and i never regretted it.
I’m glad I am not the one house hunting.. how did we ever do it? So much stress. A few weeks ago I suggested they rent for a while and move to a lower COLA and get off the treadmill.
On Sunday we saw a $400K beauty but by the end of the next day there were 7 offers, 2 were full price, cash offers. They were significantly higher than previous ‘comps’. I call it a ascending bottoms. I explained to the DD that she needs to be ready to pull the trigger quickly. I can understand her frustration. Her and the BF are better off then most, good salaries and a nice down payment.
I have no fear of fixer uppers, The Mrs. and I brought one and redid it all. We however went top drawer - whatever we bought and replaced was quality. A fixer sure but there must be potential. We looked at 25-30 houses before we found that little Cape Cod fixer. We lived there more than 10 years-it was a little house but I loved it. We bought less than we could afford and i never regretted it.
I’m glad I am not the one house hunting.. how did we ever do it? So much stress. A few weeks ago I suggested they rent for a while and move to a lower COLA and get off the treadmill.
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