Buying A Home

[wonka27]

Alrighty...here she is!!!

We have agreed in princple to the purchase of a home

It ended up not being that tough! We put an offer in on Friday morning. Basically, we gave them $4K more than their asking price, but asked them to give us $8K in settlement assistance. Net result...a $4K lowball offer. They came back with $5K in settlement assistance, and all appliances except for their kitchen refridge (we get W/D, stand up freezer in basement, older refridge in basement, dishwasher, and very old stove! I was fairly happy with that, so I asked them to accept only $1K deposit instead of our original offer of $2K, and they were ok with it. Bottom line...the ball is now in motion. Hopefully the home inspection goes well, and if it doesn''t, they agree to some kind of terms.

As far as financing, closing costs will be much easier on us because of them bringing money to the table. Get this, the person we are going to work with on our mortgage is told us we should count on 6%/7.75% on an 80/20 piggyback. Well, I called her last night and she told me she gave us an over estimate on those numbers to be safe...and that if we were locking today, we would have been .375% lower (which equates to about $50-$60/mo.). Hopefully they hold out just a little while longer!!!

Anyway, there you have it. It is a nice house...needs some updating over time...but was well kept and the way it is now is certainly more than livable. The green room with paneling will be painted though

 

[sevens one]

Congrats Wonka

 

[aljdewey]

YAY - Wonka. Whew! You DO move fast, don't you! hehehehe




I'm hopeful that we'll be right behind you. We've been angsting back and forth, and I think we're coming to the realization that we're just going to have to stretch our comfort zone a bit to get what we ultimately want.




Will report back when I have more to share! In the interim, congrats! When's your closing date?

 

[wonka27]

Thanks

Closing will be on or before December 17th! They had us choked on that one...and it will hurt a little at closing. I wanted Nov 30th to avoid the prepaid loan interest and to lock in the rate quicker, but no dice. They are an older couple in the process of building in a 55+ community. Their house won't be ready until Mid December, so they couldn't budge. But I'm alright with it too...since I'm a teacher I will be off for a week shortly after that and will be able to get a lot done!

I don't want to say we got a bargain, but honestly we got a seemingly sturdy house $5K below their original asking price. Kind of odd in today's market. The house has some handicap fixtures to it that I think were a turn off to others...but I see them as undoing a few screws and removing! As long as the home inspection goes well, we will be set! This place has a lot of potential for when we have the money to sculpt it into our perfect pad!

Al - Keep us posted! This was a fun, frustrating, and exciting time. Luckily for us, it was shortlived! I'm not too picky and neither is she. You have to see the potential in a home, not what it looks like today. We got a home with potential, but is perfectly move in condition as is. As my realtor said, it just has a bit of a tired look at the moment, but nothing that can't be fixed down the road!

 

[aljdewey]

Good point about the seeing the potential of a home, not what it is today. Unfortunately for us, that's a little less applicable.

Rich and I are THE furthest thing from Bob Vila. We can do the basic cosmetic stuff, but we are completely clueless about major type renovations...i.e. moving walls around, etc.

Here in New England, many of the older homes have fieldstone foundations....which we don't want. We want poured concrete.....less prone to flooding and less prone to the dirt in the cellar that comes with fieldstone. We also want a newer home (10-15 years). We want city/town water, which only some of the newer homes have. (Development up here in the last five years has gone so crazy that a significant percentage of the buildable land is in areas where city/water hasn't been installed yet. The city just can't keep up with...or fund....the additional infrastructure.)

Another reason older homes are out for us: we want central air at some point, and that means the house we select must at least have forced hot air heating (unless it's brand new, in which case many are roughing for central air even in homes with oil/baseboard heat). A garage is a must on our list, too.

Lastly, we entertain quite bit at the holidays, and I've never really had enough room to do that in the places I've rented. It's pretty important to me to have a fairly good sized living room.....one that houses the 8-ft, fat, wide Christmas tree I like to get every year. Tree-decorating at my house is an event....all the friends get together and we trim it together.

We also are looking at this similar to our diamond purchase......we don't plan to "upgrade". We aren't having children, so we won't need a bigger house. We will, however, be living here for 30 years, so we want it to be flexible and age with us. Hence, first floor laundry was important to me, as well as a formal dining room (which could be converted into a bedroom if one of us became unable to manage the stairs).

Lots to think about, but I think we're running down the home stretch. Keep your fingers crossed.

 

[wonka27]

Yeah, those are all great points!

I was very happy to see the central air was installed in the house! God only knows how well the unit will function (was upgraded in 96...and I don't know the life expectancy), but at least installation part is done, just a matter of replacing the unit when it dies. A lot of the other things you mentioned, we were looking for too...except I kind of liked the idea of the house from the 50's or 60's. The brick houses just look like they are fortresses. Hopefully we won't have to upgrade either...but I think the house we got with some updating over time would be a very hot item. It is less than a mile from the major highway in our area and believe it or not, you can walk to the big mall, yet, you don't even know it is there where we live! Also, the Olive Garden is right there too

Keep us posted Al. Your going to do great with your house. You know what you want and are extremely well researched. It is just a matter waiting for the one you want to pop up on the market!

 

[fire&ice]

I was wondering what was happening.

Congrats. You have made a good solid purchase. You are right, brick rancher homes built in the 50's & 60's could usually withstand a nuclear bomb (and some were indeed built for such - you may want to poke around the yard - any rooms off the garage? - you are probably too young to remember the trend for bomb shelters

) Also, this is very good age to buy. It's just prior to all the new fangled construction which was built to cut costs. You may have heard about the class action lawsuit regarding flexible PVC piping for plumbing! They replaced *all* the pipes in my parents house. But the house is new enough to avoid a major overhaul. You can't beat a brick house. Unless they are super high end, most built recently are brick facade. One of the benefits is that the brick holds heat. It will keep you toasty warm. I don't know precisely what you mean by "upgraded" in '96 regarding the heating & cooling systems. If they replaced the unit in '96 correctly, you should be good to go for at least 10 years *if* you change the filters a lot. And, you already have the duct work & wiring. Our Trane was guaranteed for 10; but, we are on our 16th year with only one service call. As I said, we change our filters regularly. It's good it's brick as heat pumps aren't the warmest of heating sources. We have steam radiators in our old house. With reversing the ceiling fans, I am TOASTY (I'm cold natured). Though, your ceilings probably aren't that high which will help.

No Wonka, people don't see the potential. It's truly amazing what a little paint & just fun spiffin up people overlook.

I like the covered back porch. And the yard is mature. Get rid of those curtains & let some light in (but not until you found something else)! The windows are those weird sizes, etc they used back then. I'll have to give some thought to some window treatments. They should be tight (but some are prone to leaking (check for moisture around the sill). This can usually be corrected by adding a sill above the window on the outside. Personally, I love a galley kitchen. It's very functional. From the pic, I love those cabinets! They look custom & appear to be solid birch? They also go to the top of the ceiling. Birch & flush cabinets are quite popular now. I like the "period" pulls. You can play that 50's style up (like the hipster you should be

) If they have a nice overcoat, then 409 works wonders if they have some grease coating (always do a test spot as murphy's oil soap may be more appropriate). Suggestions: look into pricing an under top counter exhaust fan (though it looks like the vent may be too low). Also, since the fridge is going, seriously consider a "counter" fridge. They are much less deep - BUT - will really free up space. They are more expensive; but SO much more cleaner looking (my husband's cheap; but, the architortural look was too appealing). Some of the appliance stores will let you have free financing though. Trust me, you don't need the extra fridge space (been there. done that.)

What kind of paneling is that in the bedroom? Will it stay? Is it period to the house (the reason I ask is that is could be hiding something - not necessarily something sinister- but worth checking)? Regarding paint colors - remember dark colors contract - light colors expand. BTW, Sherwin Williams have a whole palette for mid-century mod homes. The way they were intended to be painted. S. Williams have palette for all home types. We used the Arts & Crafts pallete for our little bungalow.

Nice Tile bath! I would play *up* the earthy tones w/ cool plants, maybe an oak seat, a nice "stenciled" boarder & a shower curtain much like the one that exists sans the fru-fru at the top. The biggest mistake people make is trying to make things something they are not (like some pastel bathroom) rather than getting the design working with you & for you. In other words, play it up.

I can't get a handle on what kind of flooring. Are there hardwoods under the carpet?

One red flag I do see. What's up with the drop in ceiling tile in the one room w/ the exercise equipment? It doesn't look like that is the ceiling through out the house. What up top of the ceiling tile? If you have plaster walls, the ceiling may have had a leak & that's a way of covering up.

Also, do you have base board heat throughout or just as an alternative source? Or are they not functioning & just never been removed. Something to look into w/ your inspector. Make sure they go over exactly how the house is heated & cooled. If you have central air, you should have duct work. Base board heating would have been a period way of heating. Not the best though (good as an extra source).

Finally, I don't need to tell you to 86 the geriatric handrail out front either. My Mantra - monkey grass! monkey grass! It's a great boarder for the sidewalk. I'll show my hubby the pics & see if he can't Yenta his way into more suggestions.

I do like the mature trees, especially in the front!

At the end of day, go slow. Live with it for a while & just see how it can become yours. Though I'm with you on 86'in the handicap stuff.

Sincerely, Congrats! Hope all goes well.

 

[fire&ice]

----------------
On 10/24/2004 10:42:10 AM aljdewey wrote:

We want city/town water, which only some of the newer homes have. (Development up here in the last five years has gone so crazy that a significant percentage of the buildable land is in areas where city/water hasn't been installed yet. The city just can't keep up with...or fund....the additional infrastructure.)

Another reason older homes are out for us: we want central air at some point, and that means the house we select must at least have forced hot air heating .

----------------

I'm confused. Most older homes here are in the city & as such has city water & sewer. What kind of sewer & water do these non city hookups have? We have city water/sewer (obviously in our city home) & drilled well & septic in our country home. Quite frankly, it's no big deal. In fact, the water quality is "spring like" in the country. Not only does the city water have a yucky taste, it doesn't come out of the facet at a nice cool temp & we have to pay an arm & leg for the priviledge! Free in the country (and we bring jugs of water to the city home)! Also, the city infrastructure is so old sometimes it's not reliable. Just something to consider. I'm a never say never gal though. We have super human plumbing w/ our septic. In the 16 years we have been here, we had it pumped once (and the guy said we really didn't need it). And, I can count on my fingers when the toilet (and only the toilet) has backed up.

Are they doing bored wells (you will see a big ol drum around the house)? If so, they can be problematic. I would stay away from those. Though quite a few people out here exist with them no problem. Or, is the developer supplying some sort of private system?

Also, you can add a forced air heating and cooling system. Yeah, at an expense; but what if the cost of the house (less expensive) outweighs the cost of installation. In two story they duct through the bottom of the house for 1st floor & attic for second floor. Trust me, it's not rocket science.

BTW, our little city house has no air conditioning. Since, at this time, we (a.) don't live there 24/7 & (b.) don't plan on living there permantly, we didn't want to go through the expense. We are actually quite comfortable with window units & you know I'm a Southerner w/ our heat in the summer! Come to think about it, our first house just had window units. I never remember being uncomfortable; but, we have very large ceilings.

Just some things to consider outside the box.

Good luck.

 

[fire&ice]

Also, pertinent - what's the ampage of the electrical service & is it breaker or fuse box?

 

[fire&ice]

And, Will the mortgage company require Title Insurance?

 

[aljdewey]

----------------
On 10/25/2004 12:33:43 PM fire&ice wrote:

----------------
On 10/24/2004 10:42:10 AM aljdewey wrote:

We want city/town water, which only some of the newer homes have. (Development up here in the last five years has gone so crazy that a significant percentage of the buildable land is in areas where city/water hasn't been installed yet. The city just can't keep up with...or fund....the additional infrastructure.)

Another reason older homes are out for us: we want central air at some point, and that means the house we select must at least have forced hot air heating .

----------------

I'm confused. Most older homes here are in the city & as such has city water & sewer.

I think you misread my comment. Yes, the older homes nearly all have city water/sewer, but we don't want an older home. We want new. Of the *new* homes, some are connected to city water/sewer, and some are not. That's what I meant....when we look at just the new homes, only a portion of them are connected. The rest of the new construction is occurring in areas where city water/sewer lines haven't yet been laid (because they cannot keep up with development)

What kind of sewer & water do these non city hookups have? We have city water/sewer (obviously in our city home) & drilled well & septic in our country home. Quite frankly, it's no big deal. In fact, the water quality is 'spring like' in the country. Not only does the city water have a yucky taste, it doesn't come out of the facet at a nice cool temp & we have to pay an arm & leg for the priviledge! Free in the country (and we bring jugs of water to the city home)! Also, the city infrastructure is so old sometimes it's not reliable.

I'm sure the water quality in the country is "spring like", but that's because it's in the country. It's not surrounded by industrial and commercial entities that taint the water supply. In the cities we are looking at, many of the aquafers tend to be quite high in sulfur...so the well-water you'd shower with/wash clothes in has a rotten-egg smell.

Additionally, in a city environment, you have to worry about what your neighbors may be doing that affects the ground and leaches into the water supply. My friend is a plumber in this area. He has seen two cases in a neighborhood in the last year where the children mysteriously began getting sick. Turns out an auto shop moved in down the street last year, and some of the oil/antifreeze leaked into the ground and leached into their water supply.

While we could and potentially would consider septic, it can be very expensive to replace a leachfield here.....to the tune of $20K. Septic systems up here can take a beating with brutal winters and ground freeze. The reality is that two of us shouldn't stress the system the way a family would, but for resale purposes down the line, many folks have an aversion to private sewage.

Also, you can add a forced air heating and cooling system. Yeah, at an expense; but what if the cost of the house (less expensive) outweighs the cost of installation. In two story they duct through the bottom of the house for 1st floor & attic for second floor. Trust me, it's not rocket science.

If the house already has forced air, it's not that much expense at all...only 2K or so to put in the condenser, coil, etc. However, if the house doesn't have duct-work existing, it costs nearly 10-12K and they have to rip up the walls to install it, and we have to LIVE through it during that process. Now, if I could get the house of my dreams for $280K, I'd be willing to put up with living through that to save a bundle. That isn't the case, though....there's only about a $40K price diff between the older homes that need serious renovation and newer homes that have more of what we want. By the time we update the kitchens, install ductwork, update bathrooms, etc in an older home, we'd spend that $40K anyway, so there's really no "savings".

BTW, our little city house has no air conditioning. Since, at this time, we (a.) don't live there 24/7 & (b.) don't plan on living there permantly, we didn't want to go through the expense.

If I were talking about a secondary home, I'm not sure the air would be as important to me. However, we DO plan to live in this home 24/7 and DO plan to live there permanently. That changes things. I'm nearly 40 now. I can conceivably deal with hauling around window A/Cs for another decade or two, but I'm quite sure I won't enjoy doing that when I'm 60. So, thinking ahead becase we ARE permanently there, central air is a must-have for *us*.
----------------

 

[fire&ice]

----------------
On 10/25/2004 3:39:44 PM aljdewey wrote:

----------------
On 10/25/2004 12:33:43 PM fire&ice wrote:

----------------
On 10/24/2004 10:42:10 AM aljdewey wrote:





I think you misread my comment. Yes, the older homes nearly all have city water/sewer, but we don't want an older home. We want new. Of the *new* homes, some are connected to city water/sewer, and some are not. That's what I meant....when we look at just the new homes, only a portion of them are connected. The rest of the new construction is occurring in areas where city water/sewer lines haven't yet been laid (because they cannot keep up with development)

In the cities we are looking at, many of the aquafers tend to be quite high in sulfur...so the well-water you'd shower with/wash clothes in has a rotten-egg smell.

Additionally, in a city environment, you have to worry about what your neighbors may be doing that affects the ground and leaches into the water supply. My friend is a plumber in this area. He has seen two cases in a neighborhood in the last year where the children mysteriously began getting sick. Turns out an auto shop moved in down the street last year, and some of the oil/antifreeze leaked into the ground and leached into their water supply.

While we could and potentially would consider septic, it can be very expensive to replace a leachfield here.....to the tune of $20K. Septic systems up here can take a beating with brutal winters and ground freeze. The reality is that two of us shouldn't stress the system the way a family would, but for resale purposes down the line, many folks have an aversion to private sewage.

In two story they duct through the bottom of the house for 1st floor & attic for second floor. Trust me, it's not rocket science.

it costs nearly 10-12K and they have to rip up the walls to install it, and we have to LIVE through it during that process. Now, if I could get the house of my dreams for $280K, I'd be willing to put up with living through that to save a bundle. ---------------

----------------

Obviously we have completely different terrain. Where in the world are they getting the water supply that is not either a. from a treated damned reservoir or b. from a deep drilled well supply. NEITHER should become contaminated. I've never seen anything but. The people who have bored wells *do* have a contamination problem when it either doesn't rain or rains too much; but, that doesn't seem like the water supply you refer to. Yes, many water supply have sulfer in them. It occurs naturally. In fact, in my brother's country house, it stunk until they installed a nice water filter. It's not really harmful. It does stink though. And, occurs all over. I'm really curious why the water supply would be so bad? Our health dept would go balistic. Is desirable land that hard to find?

I really don't know how well your area perks. But, 20K sounds unreasonable. We paid 3k (for 3 baths). Granted you have to have the land for the septic field to occur naturally. Is that why it's so expensive?

Regarding the heating and air, I ask you - you said you were looking at possible two story - don't these homes have crawl spaces (or basements) and an attic? You don't have to tear any walls down. We've done it many times. You duct in the attic down. You duct in the crawl space up. This may require a two system heating/cooling (which I recommend to anyone); but, the system didn't break the bank. The only places they had to go through was breaking the surfaces where the actual duct went. I'll respect that either of you are no Bob Villa - but once you get the duct floor plan - it's quite easy.

So, what you are saying is that you are looking for nearly new construction. Don't houses up there automatically install air conditioning. There's not a house that's been built in the last 30 years or so that doesn't have central air. And, it's always some type of forced air. Our's is a heat pump because we have no other alternative unless I want some horrible looking propane tank on our land. For the most part, heat pumps are used because our temp is quite moderate. Though, hubby is seriously considering Geo-thermal wells. He'll wear me down one day. But, as long as my little world isn't rocked, I'm happy with what I have.

Given your situation, as explained, I think ponying up more money is probably a good idea. It doesn't seem like you are finding any that is fitting your bill. It seems like you would prefer to find a move-in. And, your not looking to make money quickly on a sale; but a home you can live (and be happy in) for a long long time. As long as you can keep your other expenses down, you really can usually afford more house than the banks ratios. We really thought we were stretched w/ building this house years ago. We didn't have any other debt. And, we didn't go crazy furnishing the house. Helped a lot! You do grow into a house very quickly. You get used to making those payments & it's not painful or stressful anymore. And, you already have set up house. What kept start-up costs down on our second was window treatments that already existed (not curtains - but something to keep your neighbors from knowing your every move), ceiling fans, very few light fixtures that were butt ugly (and the ones inexpensive to replace) & the appliances. We requested that the washer & dryer be left also. This is where it seems that negotiations will help you. Obviously the built ins have to stay; but, you can negotiate yourself a full service house before you move in. And, some benefit to buying a nearly new house that someone had lived in - or the model. Heck, I had one friend that was an even better horse trader than I. She negotiated some of the "perfect" furniture & rugs. Some of this can go on if you have a house inspection that turns some stuff up (as it will). Our inspector came up with a few thousand in "problems". We knew about most of them; but, he came up with a foundation problem that didn't exist. We even tried to explain that to him, as we were very familiar with how the other homes (built by the same builder in the 20's) were built, that it wasn't a problem. It was an acceptable (and rather redundant) way of doing the pillars. Of course, the chicken little in me had to get an opinion of two structural engineers & a brick mason

(all friends). That said, it was amazing that they paid nearly all of the money for the repairs (even the bogus one). They cut us a check. This on top of an already discounted price. We never even asked them. Our realtor just kept quiet about the issue. That's how crazy the post 9/11 market was for about a few months. Nothing was moving. Granted you may not be that kind of position; but, they want the sale to consumate. I'm not saying don't be fair. But, realtor's have reduced their commision & sellers ponying up at the ninth hour.

Just as with diamond buying you have a totaly different approach than me.

Good luck. And, just pick one!

 

[aljdewey]

Obviously we have completely different terrain.

Hehehehe - you can say that again.

Where in the world are they getting the water supply that is not either a. from a treated damned reservoir or b. from a deep drilled well supply. NEITHER should become contaminated. I've never seen anything but. The people who have bored wells *do* have a contamination problem when it either doesn't rain or rains too much; but, that doesn't seem like the water supply you refer to.

For those that aren't city water, they are bored wells. Consider that we don't just deal with rain or no rain....we also have *serious* snow seasons. That means spring melt-off. It also means that our roads are regularly treated with salt/sand, which is then plowed into yards and seeps in the the ground. There are many factors at play up here. Trust me, I've learned more than I ever thought I wanted to know about having one's own well vs. city water.

Yes, many water supply have sulfer in them. It occurs naturally. In fact, in my brother's country house, it stunk until they installed a nice water filter. It's not really harmful. It does stink though.

I didn't say I thought it was harmful; I said these are reasons why we'd prefer to purchase a home with city water/sewer.

I really don't know how well your area perks. But, 20K sounds unreasonable. We paid 3k (for 3 baths). Granted you have to have the land for the septic field to occur naturally. Is that why it's so expensive?

It may sound unreasonable, but that's the cost. Two of my New Hampshire co-workers have just spent approximately that much for leachfield replacement on their older homes. And yes, the land is prohibitively expensive. A lot that would formerly go for $50K a year ago is now costing $100K...double!

Regarding the heating and air, I ask you - you said you were looking at possible two story - don't these homes have crawl spaces (or basements) and an attic? You don't have to tear any walls down. We've done it many times. You duct in the attic down. You duct in the crawl space up. This may require a two system heating/cooling (which I recommend to anyone); but, the system didn't break the bank. The only places they had to go through was breaking the surfaces where the actual duct went. I'll respect that either of you are no Bob Villa - but once you get the duct floor plan - it's quite easy.

Again, all of that would be worthy of consideration if we could reasonably do some of it ourselves and doing so would result in a significant savings overall. If the duct work was the ONLY thing missing and that made the house $70K less, it would be worth it. But we're finding that's not usually the case--usually the kitchen/bath is quite outdated too, and by the time we factor the cost of adding ductwork AND updating other rooms, it's no savings. That's why we've focused on newer construction.

So, what you are saying is that you are looking for nearly new construction. Don't houses up there automatically install air conditioning. There's not a house that's been built in the last 30 years or so that doesn't have central air.

HA - not where I am. There are several $400-425K homes going up right now with NO central air. They don't automatically install central air here. It's New England, for God's sake, home of the legendary "rough it" frugality! Because heat is used nearly six months of the year here, economical heating is key, which typically means baseboard. (Oh, and also because it's a moist heat). Central air IS more standard (but not automatic, as you say) on new homes selling for $450-$475K and up, but not in the range we're looking in. Plus, right now, the costs of land are SO high that they builders are trying to eek out as much as possible with as little investment as possible, which means no duct work. They know it'll sell anyway, so why bother?

As an example: one of the houses on the market right now is 1672 sq. ft. on 3.48 acres of land......6 room, 3 br., 2.5 bath colonial, fireplaced family room, first floor laundry. It has forced air heat, but no central air and NO garage, and has a family room (which we don't give a crap about) and no dining room (which we DO want) and it's going for $398,900! Crazy.

Given your situation, as explained, I think ponying up more money is probably a good idea. It doesn't seem like you are finding any that is fitting your bill. It seems like you would prefer to find a move-in. And, your not looking to make money quickly on a sale; but a home you can live (and be happy in) for a long long time. As long as you can keep your other expenses down, you really can usually afford more house than the banks ratios. We really thought we were stretched w/ building this house years ago. We didn't have any other debt. And, we didn't go crazy furnishing the house. Helped a lot! You do grow into a house very quickly. You get used to making those payments & it's not painful or stressful anymore.

That's what we're trying to do. We prefer to find a "reasonably move-in" and stay there for a long time. I'm sure we can afford more than the banks say we can, but you're talking to two people who LOATHE debt. We are struggling between what we'd *ideally* like to pay for a mortgage and stretching some. I've commented to Rich, though, that I think we just have to do what it takes - whatever that is - to get where we want to be. Our biggest problem is more FINDING what we want. A good percentage of the new construction is 2400-2400 s.f., and we just don't want that much house (to take care of or to pay for). It's a bit more challenging to find newer homes in the 1700-1850 s.f. range....and with smaller plots of land.

And, you already have set up house. What kept start-up costs down on our second was window treatments that already existed (not curtains - but something to keep your neighbors from knowing your every move), ceiling fans, very few light fixtures that were butt ugly (and the ones inexpensive to replace) & the appliances. We requested that the washer & dryer be left also. This is where it seems that negotiations will help you. Obviously the built ins have to stay; but, you can negotiate yourself a full service house before you move in. And, some benefit to buying a nearly new house that someone had lived in - or the model. Heck, I had one friend that was an even better horse trader than I. She negotiated some of the 'perfect' furniture & rugs. Some of this can go on if you have a house inspection that turns some stuff up (as it will). Our inspector came up with a few thousand in 'problems'. We knew about most of them; but, he came up with a foundation problem that didn't exist. We even tried to explain that to him, as we were very familiar with how the other homes (built by the same builder in the 20's) were built, that it wasn't a problem. It was an acceptable (and rather redundant) way of doing the pillars. Of course, the chicken little in me had to get an opinion of two structural engineers; a brick mason (all friends). That said, it was amazing that they paid nearly all of the money for the repairs (even the bogus one). They cut us a check. This on top of an already discounted price. We never even asked them. Our realtor just kept quiet about the issue. That's how crazy the post 9/11 market was for about a few months. Nothing was moving. Granted you may not be that kind of position; but, they want the sale to consumate. I'm not saying don't be fair. But, realtor's have reduced their commision & sellers ponying up at the ninth hour.

I agree with everything you've said above. My comments to Wonka were to explain the thought process that went into OUR trying to find a house and what WE are finding right now, today, in OUR market. I can appreciate what you're saying, but the "post 9/11" market has changed. The reality I'm dealing with is: there are 20 other couples on any given day who are in the same boat we are....looking for a decent buy in our price range, and we're all running out (race-style) to see a house the *second* it lists.

My comment to Wonka was "we want a *newer* home"......I didn't say it had to be brand-new.

Just as with diamond buying you have a totaly different approach than me. Good luck. And, just pick one!

Of course I do.....but our unique market and the exact time that we're in it dictate that it needs to be. Look, if we were buying this house last year, no problem....there were a TON of homes in our price range that fit what we want. BUT, since we live north of Metro Boston, we are in a VERY competitive market where "commutable" communities are pushed to capacity. A home we could have readily afforded last year has gone up $60-70K in *twelve months*! People here are opting to update their homes instead of selling them because it's so insane.

Just pick one.....that is what we're trying to do. We have to find it first....one that isn't built on the edge of a 30-30-ft drop, or right next to the marina with a convenience store across the street,.....or isn't on a street that is incredibly narrow and steep (potentially dangerous in the winter), or one that doesn't back to low-income and subsidized housing.....or doesn't back conservation land the equivalent of swamp land.

As soon as we find it, BELIEVE ME, we'll pick it.

 

[wonka27]

Wow ladies, have fun...this is quite a discussion

Thank you both again for your input. It has been very enlightening. There is just so much to digest, much of which has yet to begin. Fire, you have so many great thoughts about what you saw in our soon to be (pending all else goes well) home that I haven't even begun to consider. I think when it comes down to it, we took the..just pick it attitude! Four solid walls, relatively newer roof and a lot of potential to be brought out in time. And even with the potential factor, it still looked a heck of a lot better than half the stuff we saw in our brief, but filled time at looking around. We saw about 10 homes in a little less than a month.

Ok Fire...let me see if I can touch on some of the things you mentioned for starters.

Kitchen Cabinets - No clue here on the wood. I need to learn about wood...seriously! From the pic, I didn't like them, but it really looks a lot better in person. The knob thingys need to go though...we both agree there. There is some kind of coating on them that are chipped, and generally I just don't like them. Sarah has already been talking about giving them a good cleaning to see what we have!

Porch - Very cool back porch. Three people have already prompted me about adding a BBQ pit of some sort. It is roomy enough for a bit of entertaining. I only wish the door was out back to it, instead of around the side. Maybe one day I'll be able to do something where it wraps around to the side door with a roof to cover...so if the weather is ugly, people can get back to the house without getting soaked.

I don't know much about paneling either (a trend is forming about my knowledge of home things here

), but the plan is to paint over that whole room. The darker color green with that paneling just doesn't work. We will probably just go over the paneling for now with paint, and reevaluate down the road.

There are hardwood floors down there! One day we'll have to see what we have and the salvageability of it.

The funky room with the drop ceiling is actually the finished family room in the basement. Not much to look at now, but in time we can reevaluate there. The good thing is even if we completely redo it, the groundwork is there with the electric, etc. It will serve its purpose for a monthly card game for now!

The bath appears to be original. I was generally happy with it, considering I've seen some pretty hideous tile out there. The thing I don't like is the toliet and sink are pink. Oh well...what can ya do. The extra shower stall in there is very interesting. People have suggested using that regularly and just the tub/shower on occasion for the purpose of making cleaning easier.

I will certainly talk to the inspector about the heating. All I know was that the house was nice and warm when we were there, so whatever makes the heat go is working

(See my simplicity here when making decisions...if it works, I'm good!)

I hate to say it, out of everything, Sarah likes the handrails out there. They sort of fit in and are quite sturdy. Given the walkway up to the house is sloped, it may be helpful in the winter. We'll see what happens there. The ramp aside of the house will stay for now, as it really doesn't bother anything. The chairglide to the basement will be removed ASAP along with the few hall/room rails. Those shouldn't be much of an issue!

The trees....oh I am in a world of hurt when it comes to raking (investment will be made on a blower at some point). The one maple has surface roots, which will make mowing tough, but they are nice. Sarah doesn't like the gigantic tree out front. That sucker is huge!!! It may one day go in lieu of something a little more practical. But I like the trees overall...I think it gives a nice look to the landscape...like someone didn't just plop the house there yesterday.

Time will make this puppy great...no doubt about it. First we need the furnature and other stuff to make a house work. I am expecting to get an upgrade on my charge at Kohl's to platinum for the massive purchases that happened the last two weekends!

By the way, we're using a company called Cardinal Financial for our mortgage. The lady we are working with is tops! I've called her several times the past two weeks at night and on the weekend and she never flinched at taking the time to answer my questions and plug in numbers for closing costs. At the end of the day, the four places I talked to were all in the same ball park with the loan and closing fees, but she never rushed me like the other guys. Today we locked in on the 80% portion of the piggyback at 5.875%. Not too bad for 0%-down! The 20% part we must wait until we are approved. But that one doesn't matter quite as much.

Thanks again...will keep you posted on the progress!

 

[fire&ice]

Wonka - regarding the leaves - my husband uses what he calls "more power". It's his favorite toy. In fact, mr. cheapskape has two of them. Ask for one for the holidays from respective parents. They are not expensive at all & are truly fun to use. BUT AGAIN, going back to the ampage - that's important. You may not have enough power to operate it. Make sure your inspector stresses the system.

But, do not. I repeat - do not get rid of the trees in the front.

I know these houses well. They are not the best presenters on their own. That tree is there for a reason. Try to picture the house with out it. I could be wrong; but, it probably looks a ton better with it. Plus trees are real insulators of noise, glaring sun light & privacy. Trimming the tree may be a nice way of having the best of both worlds. Keep in mind that tree work is quite expensive. Always make sure you have someone who is licensed.
I love the changing colors of the smaller (maple?) on the right. What type of tree is directly in front?


Wonka, re-read - I *like* the pulls on the cabinets.

. I'm a purist whose speciality is moderne design. I can't tell from the pics if they are worn though. But, if you choose to replace them make sure you don't get ones that are colonial looking on a modern design cabinet set up. Kinda like wearing purple with red. Some times it works; but, usually it doesn't. Also, keep in mind that nice pulls are not cheap. And, before you replace, try a little brasso on them. As far as the "chipping" of the finish, you have two options - refinish or try to refurbish (the latter is obviously easier). See what a little murphy's oil soap does with some bowling alley wax follow up. Always do an inconspicuous test spot. Don't use polyurethane.

Pink? from the pic the bathroom fixtures look beige. Am I reading that the tile is beigey & accent tile brown? And, are they larger tiles (4x4?). If yes to both, the wall tile probably aren't orginal (the pink fixtures - yes). Again, try to work with it not against it. I also didn't see what you meant by tub & shower. You have two separate entities? Yeah, we only use one bathroom for the cleaning issue. But, we use the others on occasion if we both need to shower.

Ah, the ceiling tile in the basement - makes sense. Yeah, a very cavernous card room or nice exercise room. Consider making the living room your family room. We never use our living room. Since we have both family & living rooms in the country, we turned our living room into a reading room. In our little house, we use the living room as both. But, we have no TV in there. I guess what I am saying - use the rooms you have the way you want. In other words, a bedroom doesn't have to be a bedroom.

Wonka, seriously, the *last* thing I would be thinking about is furniture. It's the biggest way people get into ridiculous debt & don't have the money to fix the things that are important in the long run. Honestly, while I know many people aren't into antiques, nearly new furniture is like a nearly new car. Like cars, new furniture will be worth significanly less once you walk out the door with it. Estate sales, community newspaper adds, yard sales, flea markets, antique shows, malls & shops are a great way to furnish a house little by little. And, I know my neices & nephews are always hitting me up for my cast aways. Ask around with your relatives. Perhaps more priority is a lawn mower & leaf blower - you may want to see if the older folk want to sell what they have in terms of lawn equip. Since they are moving to a retirement community, they may not need it anymore.

Economize should be an easy concept for you as it translates to all aspects of this house.

 

[fire&ice]

----------------
On 10/25/2004 7:34:24 PM aljdewey wrote:




----------------

I wouldn't buy a home with a bored well either. You are at the mercy of man & his environment. We all know the tract record on that.

Ours well is drilled through the rock to get to clean water. It's *much* more expensive than a bored well; but, not cost prohibited. Way back, ours was a guaranteed 200 feet down (I think) for 4k (this included all the stuff). They hit a really good line at 70 (again I'm going on recollection). But we are clay & then rock - natural for hitting the springs through the rock. That is why hubby is so keen on geo-thermal. The start up cost is what gets me (we need two more wells). But, your heating & cooling costs are nearly nil. Though this doesn't solve your septic problem. Again, most of our terrain is *very* perkable. I just can't imagine a 20k job unless it involves toxic waste clean up.

We must have stricter building codes. We don't have developments w/o it's own independent water & sewer or city/county water & sewer. Or enough land to have your independent system w/ drilled well & septic. It's the renagade house w/ a bored well. I know during the drought here. Some of those wells went totally dry.

 

[aljdewey]

----------------
On 10/26/2004 10:43:39 AM fire&ice wrote:



Wonka, seriously, the *last* thing I would be thinking about is furniture. It's the biggest way people get into ridiculous debt & don't have the money to fix the things that are important in the long run. Honestly, while I know many people aren't into antiques, nearly new furniture is like a nearly new car. Like cars, new furniture will be worth significanly less once you walk out the door with it. Estate sales, community newspaper adds, yard sales, flea markets, antique shows, malls & shops are a great way to furnish a house little by little. And, I know my neices & nephews are always hitting me up for my cast aways. Ask around with your relatives. Perhaps more priority is a lawn mower & leaf blower - you may want to see if the older folk want to sell what they have in terms of lawn equip. Since they are moving to a retirement community, they may not need it anymore.

----------------

1000% agree with F&I on this one. Furniture isn't nearly as important, and it can come slowly over time. My parents have changed their "look" with furniture 6-7 times in the nearly 30 years they've had their house, and I was previously the happy recipient of the castoffs. As long as you have a bed to sleep on and a place to sit, upgrades to those things can always come down the line.

Once we finally get a house, I know we'll want to change the living room and bedroom furniture....but I've accepted they aren't the top priorities, and we'll get to it only after we've taken care of things like the lawn mower, etc., etc....must haves that we don't have at all.

I honestly find decorating over time more satisfying. It's wonderful to see a place take shape.

 

[fire&ice]

----------------
, and we'll get to it only after we've taken care of things like the lawn mower, etc., etc....must haves that we don't have at all.

I honestly find decorating over time more satisfying. It's wonderful to see a place take shape.----------------

Yeah, the lawn mower will make you money in the long run. You don't have to pay someone to mow your lawn. And, most towns have restrictions on how high the grass can be. Though you can always get a goat.

Agree w/ the second statement as well. A house really beomes a home over time.

Al, I am seriously posting challenged - the whole first part of my post disappeared. It was a response to the bored well. Reader's digest - wouldn't have one. The water supply is at the mercy of man & his relationship to his environment. We all know that track record.

 

[aljdewey]

----------------
On 10/26/2004 11:43:37 AM fire&ice wrote:

----------------
Though you can always get a goat.

Al, I am seriously posting challenged - the whole first part of my post disappeared.

----------------

Hahahhahaa -

- LOVE this idea. Although somehow I don't think I'll convince Rich that picking up after the goat is more desirable than mowing the lawn.

Don't worry about the posting challenged - freaky things seem to be happening with it. My point on the water was a rather broad one anyway.....for a number of reasons, our *preference* is city water, and we've eliminated considering any new construction that doesn't have it.

It's like any other feature....one person's "must have" is another person's "luxury - not needed but wanted".

 

[wonka27]

Quick update

Home inspection came back with a few issues, namely some electrical work that may need to be updated, but we accepted the house as it was (except they are paying for some furnace work and all code infractions).

We found out the house appraised for the amount of the loan today. As far as I know, the major obstacles have been disposed of, and we will be owners of a home by the end of the year!!!

 

[aljdewey]

YAY, Wonka!

One good update deserves another: I really, REALLY thought we'd have signed the P&S agreement by now, but a good portion of the land is conservation, and my attorney is VERY familiar with the stickler nature of that, so it's taken a bit longer.

However, I anticipate we will be signing the P&S tonight, and we are closing on 11/30. Whew!

 

[wonka27]

That''s great news! I hope it all goes well for you

 

[noobie]

Congratulations to both of you! It''s a wonderful time in your lives. I have just two words for you, actually four:

MONEY PIT HOME DEPOT !!!!

Seriously, enjoy it. Home ownership can be very satisfying (frustrating, satisfying)

 

[aljdewey]

Wonka, haven''t heard from you, but your anticipated closing date was today, and I''ve been thinking of you and wondering how it''s going.

We closed two weeks ago on 12/3 and moved last Thursday. Whew! I don''t want to do THAT again for a reeeeeeeeally long time. Moving stinks.

To date, we are walking around a bunch of boxes as we try to sort what is critical and what comes next, but we are elated. It still hasn''t really sunk in that we are *homeowners*.....that will likely come when the first mortgage payment is due...hehehehe.

Hope all goes well with you; what an exciting time for you both! Impending move and impending engagement - YAY! Check in with us and let us know how it''s going.

 

[hoorray]

Congratulations on your new home Al! That sure went quickly! (To me at least -- probably felt like eons to you

.) I hate moving, but love to see the progress I''ve made over time and how the home evolves. Take pictures periodically. They are fun to go back and look at.

 

[wonka27]

Sorry!!! Very busy lately!!!

Closing on Monday

More to come...

 

[Kamuelamom]

Wonka, congratulations! The home looks great and I can''t wait to see the rest of it.

F&I,

! LOL at the geriatric rails! Maybe it''s a code there? I know we have ADA codes here too that don''t necessarily make stuff look "nice" but according to the law, it''s a gotta do. Sorry if you talked about that somewhere in this thread, I didn''t really read it through completely.
I''m just so happy for Wonka! Good luck Al, hope you find something soon, too.