I am going insane trying to buy a house for the first time. Financing is not a problem, but I don't want to be buried by my house payment, so I've set a somewhat restrictive (but not horribly so) price limit. I expect to have to compromise in this price range, but am having a hard time figuring out where.

For example, I will find a house I like, but it will be in so-so repair (my talents are limited in the realm of home repair). I will see a not-so-great house, but it will be in tip-top condition. I've found a house I'd love to live in, in a busy downtown area I'd hate to live in. Sometimes a house is pretty good all around, but tiny.

For those of you who've bought your own houses, what are the things you wish you hadn't compromised on? The things that, in the end, you wish you'd held out for?

All advice welcome!

Aderyn

My big compromise was to live a a busy street. It's in a nice residential area, but a commercial street feeds into our residential street. Subsequently, a new freeway and the additions of several traffic stops really diverted the traffic and slowed the remaining cars down. So, it's not so bad now. I got lucky.

But, I still think the old rule of "location, Location, LOCATION" is the way to go. Given some time and money, you can change just about anything except the location.

Also, a smaller home in a nice area tends to appreciate in value relatively faster.

__________________
~~~Teelbee
Back to GOAL!!!
start weight: 176/goal range: 137-134/now: 138
Reached goal in Aug. 2003 - 4rd year of maintenance.

Well, if you have kids, then the downtown thing is out. The busy street house we nixed when we looked the first time.

Last house, we opted for the one that had the features I wanted with a moderate amount of work. Dh is a cabinet maker, so he built me a new kitchen. The house was too small, but we couldn't afford any more. We used 2/3 of the garage and made it a "den."

This house, we wanted square footage!!! Our realtor finally just typed in footage as her search term without asking for certain features because we'd been looking for so long. Our current house was actually sold and we still hadn't found what we needed -- had "lost" three houses during the process due to various circumstances beyond our control... When she did that search, this house popped up. It was listed as 1 bed, 1.5 bath but around 3,000 sf!!!

Yes, it was a mess. The basement was trashed and so was the back yard. It didn't have a heating system (the former occupants stole it!) We took our contractor friend with us, and he evaluated the house and told us what was urgently needed to be fixed. We low-balled the offer and demanded a lot. It was a repo, so after many offers and counters we got what we wanted at a darn good price :great:

The kitchen and living area of my home are gorgeous. The basement was beyond nasty, but we muscled out carpet, stripped and sealed floors, re-routed gutters and had the yard professionally landscaped (there was a giant pool-sized hole!) We also had to have a heating system put in and some foundation work done. Much work we did ourselves, in fact, I personally removed the carpet...

...hardest nastiest job I've ever done in my life, but I did it!

Anyway, a year later the neighbors frequently tell us how much they appreciate all we've done for the house.

All the extra work has cost us about $6,000, fyi. Some of that was figured into our loan -- we had to have a heating system immediately. I recently did some looking around and as close as I can figure, we've "gained" $35K to $75K on our investment in a year :cool:

That is my experience. I hope it encourages you!

In my own case, I agree about location. We found the perfect new house for our needs when we bought it 16 years ago, one amenable to adding an in-law apartment with kitchenette for my parents, in a nice enough neighborhood and still within our means. However, our back yard abuts on a major highway. Although our house is relatively soundproof--and I can't see the highway (fence, berm, landscaping), I long for a quiet yard where I can hear the sound of birds--not cars, brakes, and the inevitable bass rumble of testosterone-hyped subwoofers. Not to mention the pollutants.

My next and hopefully last home will be quiet, indeed.

There is nothing like being in the right place. And if the price is right and you can afford a remodel (and have the stomach for the hassle it inevitably brings) plant yourself where you really want to be. Anyway, that's my .02!

__________________
BC
LC Since 1998
Highest Weight 172
Current 104-108

not that i bought an actual house but we bought a moduler home... it was a repo... BEST INVESTMENT.. was hardly lived in.. only issue was w/ sideing when they repoed it they striped the sides and yanked the carpet up and away they went.. well when we tried to reseem the carpt it didnt go together as nice as we would have liked but it is off white... and i have 2 small children we will be replaceing that in few years anyway... the sideing will proly have to see 1 more winter till we can afford to have it resided.. DH put the sideing up as best he could would have been better if they would have taken their time and actualy had all the pieces.. i like my "HOME" beacuse it is like a blank slate .. i can add on to it change things ect.. we are actualy drawing up a new floor plan for our kitchen.. MAN is it gona be difrent.. but you wouldnt belive the beautifull HOUSES i have seen form out of a trailor/doublewide DH's best friends' dad.. has a 4 bed room HOUSE now when all he started out w/ was a trailor.. 2 car attached garage a den, computer room a sun room , huge liveing room laundry room , BIG kittchen dinning room and breakfest nook.. AWSOME house.. but then agin he built most of it on himself when he was a bachlor/ newly married.. ohh how i love his house..

I didnt have to look for a location beacuse my father owned farm land and when one of the previous farm houses burnt down left for a nice place w/ sewage and water just need to tear out the old foundation .. and well that never happend.. we umm coverd over it.. and now it is located just under where our garage is going to be... where our cars are parked..

i have 1 neighbor but a modert buisy road due to farm trafic.. and people useing our road as a way to another road.. but if i wanted to walk out in my t-shirt and undergetichums.. to grab the paper in the morning i dont have 100's of people passing by.. only bad thing.. no neighbor kids for my kids to play w/... closest neighbors asides from the minintes that live down the road are all older people.. only bad thing..

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01/02/04-248{ 4/29/04- 218} 6/30/04- 204
7-05-04 198 8/30/04 - 190 (got lost after that-)
4/03/08- 261 -
Goal-140-145

DH and I bought our house 9 yeasr ago. As you can see I live in the Boston area, and I work downtown. Even 9 years ago housing prices within a decent commute of the city were outrageous. DH wanted land, and easy access the the highway (he was in sales at the time), so I compromised in order to get a house at a decent price, and ended up with a commute that lasts, most days, between an hour and an hour and half ONE WAY. Also, I had always lived in a fairly urban environment, so moving to the sticks has not improved my social life in any way. But, my house is pretty (the kithcves is awesome) and has appreciated HUGELY, so when I relocate, I will get what I really want.

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Jen



179/179/120

Because my Dear Partner and I lack extensive home improvement skills (we can do a few thing but niothing major) and the funds to fix up a fixxer-upper, we compromised by getting a fairly new home in the burbs with no major problems. We would much prefer an older home with character in the country or closer to downtown, but this is what works for us now.

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Renee
1/19/04
261/220/160
41 lbs off
60 lbs to goal



Race to 199 Challenge
Labor Day Challenge: Focusing on the Journey
Personal Goal: 199 by 12/31/05

We are probably living in our last home. Who knows? Kids grown and gone. We bought for location. We live in a condo with 4 bdrms and 3 baths. It backs up to a lake and our view is simply spectacular from living room windows that sweep from wall to wall and ceiling to floor.

This time our only requirement was to be on water. We knew we needed space for gkids to come and play, as well as low maintenance since neither one of us can repair and don't want to do yard work. We searched and searched around the State for places. Saw small homes on lakes, other condos, apartments, all manner of dwellings.

We have renovated the kitchen to create more space (it was a galley kitchen, small and dark). We will renovate one bathroom and do some maintenance painting, etc. Our investment has more than tripled in four years!

We do have neighbors both upstairs and on the other side of us. Luckily they are all friendly. We have worked to socialize so that we won't be surprised by anything. We have Christmas parties, and deck parties in the summer. But, neighbors this close is what you sacrifice to live in a condo.

Peace, Peg

Thanks, everyone! The variety of answers you've all offered has really helped me think about my choices. Part of the challenge is that I'm moving to an area that is not near where I live now, so it's a big time investment every time I go to look at houses. Fortunately, I have a great realtor helping me look in the area I hope to relocate to. I'm going looking again on Monday; cross your fingers for me! Maybe I'll get lucky and the dream home will be there waiting.

Aderyn

Good luck on Monday!

House hunting is so crazy. You get this weird anticipatory feeling all the time .... like you might WIN something! ...like you're at a slot machine and 2 barrels have winners, but you're excited and waiting eagerly to see if that 3rd barrel will be IT!!! JACKPOT!!!

__________________
~~~Teelbee
Back to GOAL!!!
start weight: 176/goal range: 137-134/now: 138
Reached goal in Aug. 2003 - 4rd year of maintenance.

Teelbee, you are SO right! That's just how I feel every time...this is it! This time the right house is just waiting for me to get there! Just need to pull that handle one more time!

It's such a disappointment to look at houses on the Internet and then go see them, too; talk about "anything can be anything on the Net"! I'm telling you, most realtors could get jobs in creative photography if the property selling thing doesn't work out.

Aderyn (aiming to hit the jackpot Monday!)

That is so right about the photos! I do worry when they DON'T post a photo though!

At one point we were looking for some land a few years ago. One place was a cliff the other was a swamp

I sent my realtor an Internet listing for a place on the river...when we got there, I mean to tell you, it was ON the river! When my sister looked out the bedroom window, she said "I feel like I'm on a houseboat." You're right, though, no picture at all is even worse!

Also, listing phrases I've become scared of include:
"needs a little TLC" (translation="about to be condemned")
"wonderful large lot" (="house IS condemned")
"convenient location" (="the only house left in the middle of the mega-mall district")
"cozy" (="no room larger than 8 x 10")
"full of character" (="older than the hills")
"ideal starter home" (="as compared to starting out in a pup tent")

However...I did see one on Monday that's got me thinking...
Aderyn

LOL Aderyn!! Keep us posted!!

__________________
BC
LC Since 1998
Highest Weight 172
Current 104-108

Hi Aderyn,

I'm actually a REALTOR in SC and your question comes up often with my buyers. Some of the variables are similar with what buyers are looking for in a home. Many of my first time home buyers know that this purchase will NOT be their last. Now keeping that in mind, my opinion is not to sacrifice resale value. Location is important. However, each need is different and what may be an acceptable sacrifice to one may not be acceptable for another. I know I'm not being too much help. I guess my best advice would be to ask your real estate professional to assist you in making the best decision. Be honest and upfront with your agent. The more information he/she has, the better assistance he/she will be. It takes time to sort out which needs are important and can not be compromised.

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Kelli (LCing since 01/01/03)
Restarted 02/09/04 @ 155.5