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House Buying Anxiety

Posted on 7/27/09 at 2:46 pm
Posted by jglass3lsu
Member since Jan 2007
881 posts
Posted on 7/27/09 at 2:46 pm
The wife and I offered asking price on a home. Then we learned that another offer was turned in above asking. Our offer was accepted. Getting anxious as this is by far the largest purchase I've made to date.


House

We can afford it, and the wife really likes. Good idea or bad idea?
This post was edited on 7/27/09 at 2:47 pm
Posted by TigerinATL
Member since Feb 2005
61435 posts
Posted on 7/27/09 at 2:56 pm to
$344k for 1586 sq ft built in 1953? I don't know too much about Houston real estate, but unless you got it way below list price or you work nearby I'd say you probably could have gotten a much better deal in the Houston area.
Posted by LSUtoOmaha
Nashville
Member since Apr 2004
26574 posts
Posted on 7/27/09 at 2:58 pm to
quote:

$344k for 1586 sq ft


That's well over 200 a square foot
Posted by jglass3lsu
Member since Jan 2007
881 posts
Posted on 7/27/09 at 3:04 pm to
I guess should qualify our decision making process. We both want to live inside the loop, and would like a freestanding home which does not require renovation.
Posted by LSURussian
Member since Feb 2005
126942 posts
Posted on 7/27/09 at 3:05 pm to
If you and the wife are happy, don't look back. Enjoy your new castle!
Posted by TigerintheNO
New Orleans
Member since Jan 2004
41157 posts
Posted on 7/27/09 at 3:06 pm to
quote:

built in 1953


make sure whoever does your inspection is good
Posted by barry
Location, Location, Location
Member since Aug 2006
50337 posts
Posted on 7/27/09 at 3:09 pm to
Thats a nice home in a nice part of houston and at a decent price for the area. I myself am not buying another new or renovated house again until i build my dream house where i plan on planting my arse for 10-15 years at least.
Posted by AUFanInSoCal
Orange County
Member since Nov 2007
1616 posts
Posted on 7/27/09 at 3:35 pm to
Got some really nice upgrades with that house. Congrats.
Posted by Zach
Gizmonic Institute
Member since May 2005
112406 posts
Posted on 7/27/09 at 3:49 pm to
quote:

but unless you got it way below list price or you work nearby I'd say you probably could have gotten a much better deal in the Houston area.

+1
That price sounds really high.
Posted by lsugradman
Member since Sep 2003
8544 posts
Posted on 7/27/09 at 3:53 pm to
Over 200/sq ft is pretty much the standard for decent Houston neighborhoods inside-the-loop.
Posted by Zach
Gizmonic Institute
Member since May 2005
112406 posts
Posted on 7/27/09 at 5:24 pm to
For a house almost 60 years old? Really?
Posted by jglass3lsu
Member since Jan 2007
881 posts
Posted on 7/27/09 at 6:24 pm to
The lot accounts for almost 3/4 of the value of the property.
Posted by 8thyearsenior
Centennial, CO
Member since Mar 2006
4280 posts
Posted on 7/29/09 at 2:17 am to
Your exit is TC Jester, not Shepherd. Please alert your neighbors that choose to get off at Shepherd and take the left on 11th and frick up traffic.
Posted by Fat Man
Gotta Luv Cov ... ington
Member since Jan 2006
7057 posts
Posted on 7/29/09 at 7:56 am to
quote:

We can afford it,


Evidently many of the decisions you've made in life to this point have been good decisions. Congrats.

quote:

and the wife really likes.


Always a good thing.

It looks like whoever remodeled the home did a really good job. Granite in kitchen is a must, in the bath is lagniappe.

Plantation shutters are ridiculously and surprisingly expensive. Not having to cover those windows = saved $$$.

Really nice yard. Don't know Houston market, but sounds like a very good area, which I find to be better long term than a "good deal" in a lesser location.

All in all, well done.
Posted by Meauxjeaux
98836 posts including my alters
Member since Jun 2005
39851 posts
Posted on 7/29/09 at 2:09 pm to
BAD IDEA!






...to blast all over your future home address on TD.COM that is.
Posted by Martavius
Member since Nov 2005
16019 posts
Posted on 7/29/09 at 2:15 pm to
You guys get way too hung up on this price per square foot stuff. The land values in sought after in-town areas in major cities is through the roof.
Posted by Loubacca
sittin on the dock of the bay
Member since Feb 2005
4017 posts
Posted on 7/29/09 at 2:25 pm to
quote:

You guys get way too hung up on this price per square foot stuff. The land values in sought after in-town areas in major cities is through the roof.


not to mention getting so ben out of shape on the age of the house. my house was built in the same year and the quality of the materials is 10x's better than that of most new houses.
Posted by Martavius
Member since Nov 2005
16019 posts
Posted on 7/29/09 at 2:27 pm to
My house was built in 1954 and the wood in the studs is so dense that if you don't drill pilot holes, you can't drive a screw into them. They just break off.

Square corners and what not are a completely different story but that fricker is solid.
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 7/29/09 at 9:05 pm to
Reminds me of my first purchae. Had just moved from BR into Arlington VA. I knew prices would be much higher but was a bit apprehensive about offering $225/sf. I got it and moved in.

My first HOA meeting one of the officers was looking over recent sales and commented that someone had bought a place at an amazingly high price, the highest in the neighborhood ever, in fact. It was, of course, mine. Scary.

But that was in 2002. The current appraised value is about $440/sf even after the bust. A couple of years ago comps were around $500/sf. So sometimes it works out anyway.

Get over the jitters and get into your new home! So long as you can make the payments it's all good.
Posted by hedgediver
LSU
Member since Sep 2004
2093 posts
Posted on 7/29/09 at 9:11 pm to
Are you still in the Arlington area?

I am interning in McLean right now and have the opportunity to get on full time so I may be moving up to N. VA soon enough
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