OT I have a house!!!

[andalusian]

They accepted a different offer. Damnit! Back to the drawing board. It's a wild market out there folks.

That's a bummer. You might have to just ride it out until the market goes back to some normalcy - but keep on trying.

When we moved to the San Diego area and tried to purchase a house before the start of the school year - we made maybe 10 offers - none were accepted, most of the places would sell to someone that would offer up to $100K over asking price (that was 8 years ago). Luckily at the time, this was mostly because people wanted to move before the school year, we just accepted at the time that it was not going to happen and got a long term rental. Around December we ran across the place we got as the buyer had to back out - at the time no-one was looking for a house so we managed to get it for a reasonable price. Hope something like that happens for you as well.

 

[Shaboid]

That's a bummer. You might have to just ride it out until the market goes back to some normalcy - but keep on trying.

When we moved to the San Diego area and tried to purchase a house before the start of the school year - we made maybe 10 offers - none were accepted, most of the places would sell to someone that would offer up to $100K over asking price (that was 8 years ago). Luckily at the time, this was mostly because people wanted to move before the school year, we just accepted at the time that it was not going to happen and got a long term rental. Around December we ran across the place we got as the buyer had to back out - at the time no-one was looking for a house so we managed to get it for a reasonable price. Hope something like that happens for you as well.

Yeah, we are luckily in a position where there isn't major urgency. We are looking at duplexes so my brother and his gf have their own space and I';d have mine. Since it will eventually turn into a rental property for us, we are mainly only concerned about cashflow down the road. We're going to be saving money over renting, no matter what, so the property price is less of a worry. Just gotta keep at it! Something will come along, but to be completely honest, I'm feeling a bit dejected today.

On to the next plan!

 

[andalusian]

Yeah, we are luckily in a position where there isn't major urgency. We are looking at duplexes so my brother and his gf have their own space and I';d have mine. Since it will eventually turn into a rental property for us, we are mainly only concerned about cashflow down the road. We're going to be saving money over renting, no matter what, so the property price is less of a worry. Just gotta keep at it! Something will come along, but to be completely honest, I'm feeling a bit dejected today.

On to the next plan!

Understood. Just keep plugging at it. As I said, it took us a long time to find a house - we have seen so many houses - it was very dispiriting when we lost one, but honestly, it was worth it - and our perseverance has been worth it - despite all the pain that comes with an old house - we absolutely love what we ended up with.

 

[ABM]

Congratulations, crandc! What a change from what you had related awhile back regarding your leasing woes! No you get to have all new headaches! Home ownership is awesome. Hope you enjoy your new home to the fullest!

We just sold our home last year and have purchased a new home half its size. We don't want to climb stairs anymore, and want to be near our extended family. So far, so good! We sold a lot of stuff in the process, but, after all, it's just "stuff"! Pretty liberating, actually.

Anyway, congrats again. Hope you have a great kitchen!

 

[Shaboid]

Putting another offer in today. We were mostly looking for a duplex, but we found a 3,600 sq. ft. house with a finished daylight basement that we will be converting into a dual living situation. Finger's crossed that it all goes smooth!

 

[RR7]

Putting another offer in today. We were mostly looking for a duplex, but we found a 3,600 sq. ft. house with a finished daylight basement that we will be converting into a dual living situation. Finger's crossed that it all goes smooth!

good luck!

 

[MARIS61]

Congratulations on your realization of The American Dream of Home Ownership!

The very pinnacle of Capitalistic Achievement.

Your decades of voting to tax others is coming for your money now.

 

[Orion Bailey]

Good luck. It is crazy out there. Some friends just sold their house for 90K over asking, and it's a relatively small house on a busy street.

and they will likely pay as much over on their next howluse, negating all this increased value as being any actual profit.

 

[Orion Bailey]

Putting another offer in today. We were mostly looking for a duplex, but we found a 3,600 sq. ft. house with a finished daylight basement that we will be converting into a dual living situation. Finger's crossed that it all goes smooth!

We bought a house with an unfinished basement and built an adu downstairs. be careful. You likely wont get the money out of it you put into it. If you can find a home with an adu already, you will likely be better off monetarily.

 

[Shaboid]

We bought a house with an unfinished basement and built an adu downstairs. be careful. You likely wont get the money out of it you put into it. If you can find a home with an adu already, you will likely be better off monetarily.

That's good advice. The goal for the basement will be sort of an optional ADU space. It already has a wet bar so I plan on just expanding on that. I haven't actually walked the property as I was on vacation when it was available and we had to move fast, so we'll see what happens. I'll probably have a few questions for you once I actually get in there. One thing I did notice from the pictures though is that every single wall in the basement has wood paneling. Soooo much wood paneling.

 

[RR7]

and they will likely pay as much over on their next howluse, negating all this increased value as being any actual profit.

They already bought their new home last fall, so they are seeing the profit benefit them, but thanks, I also have a general understanding of how the housing market works.

 

[Orion Bailey]

That's good advice. The goal for the basement will be sort of an optional ADU space. It already has a wet bar so I plan on just expanding on that. I haven't actually walked the property as I was on vacation when it was available and we had to move fast, so we'll see what happens. I'll probably have a few questions for you once I actually get in there. One thing I did notice from the pictures though is that every single wall in the basement has wood paneling. Soooo much wood paneling.

Right on. Hit me up anytime and good luck.

 

[Orion Bailey]

They already bought their new home last fall, so they are seeing the profit benefit them, but thanks, I also have a general understanding of how the housing market works.

Then You would know they are an extreme anomaly. Its an extremely low percentage of people who can buy another home without selling the one they have.
So for almost everyone, no real profits gained.

 

[Shaboid]

Offer accepted! Time to move this conversation over to the "The OFFICIAL Home Remodel Thread"!!

 

[ABM]

Congratulations, crandc! What a change from what you had related awhile back regarding your leasing woes! No you get to have all new headaches! Home ownership is awesome. Hope you enjoy your new home to the fullest!

We just sold our home last year and have purchased a new home half its size. We don't want to climb stairs anymore, and want to be near our extended family. So far, so good! We sold a lot of stuff in the process, but, after all, it's just "stuff"! Pretty liberating, actually.

Anyway, congrats again. Hope you have a great kitchen!

Thanks for liking this, Lanny.

 

[Lanny]

Thanks for liking this, Lanny.

As a person, I like everything about you.

 

[Chris Craig]

We bought a house with an unfinished basement and built an adu downstairs. be careful. You likely wont get the money out of it you put into it. If you can find a home with an adu already, you will likely be better off monetarily.

It looks a lot nicer down there. Why wouldn't it increase the value you if your house?

I know for outside ADUs you have to have a permit for them to be legal. Do you need a permit for an ADU inside your house?

 

[Orion Bailey]

It looks a lot nicer down there. Why wouldn't it increase the value you if your house?

I know for outside ADUs you have to have a permit for them to be legal. Do you need a permit for an ADU inside your house?

you should see it now! Basically our theatre room.

the value doesn't equate because its non essential.
For example taking a one bed two bath home and adding a second bath and bedroom will increase the value close to the costs to add because a second bathroom is needed much more.
A second kitchen is not needed Nd so the full costs to install usually dont get covered in the estimated value. Its what my real estate agent explained anyhow.
He told me i could add a garage for less money and increase the house value more than the cost of the garage, because its deemed essential.
but if i took a one car and expanded to a two car, not gonna get my money back.

We spent 60k building the adu and got an updated appraisal showing a 35k increase in estimated value. I wasn't very happy. Lol.

 

[Chris Craig]

you should see it now! Basically our theatre room.

the value doesn't equate because its non essential.
For example taking a one bed two bath home and adding a second bath and bedroom will increase the value close to the costs to add because a second bathroom is needed much more.
A second kitchen is not needed Nd so the full costs to install usually dont get covered in the estimated value. Its what my real estate agent explained anyhow.
He told me i could add a garage for less money and increase the house value more than the cost of the garage, because its deemed essential.
but if i took a one car and expanded to a two car, not gonna get my money back.

We spent 60k building the adu and got an updated appraisal showing a 35k increase in estimated value. I wasn't very happy. Lol.

I see

Ouch.

Interesting because it seems like if someday you sold and somebody was looking and saw you had a theatre, they would be willing to pay more, if they were in to having a theatre. But, I guess the estimated value is the value.

Does it work the same say like for example Rasheed Wallace's place when he lived here, had a basketball court, a pool, and a theatre. That doesn't make it worth more?

I guess it's worth more because he lived there. Maybe. Maybe it's worth more to someone interested in having those amenities.

So a houses value is really only in how big it is, how many rooms and bathrooms it has?

 

[Orion Bailey]

I see

Ouch.

Interesting because it seems like if someday you sold and somebody was looking and saw you had a theatre, they would be willing to pay more, if they were in to having a theatre. But, I guess the estimated value is the value.

Does it work the same say like for example Rasheed Wallace's place when he lived here, had a basketball court, a pool, and a theatre. That doesn't make it worth more?

I guess it's worth more because he lived there. Maybe. Maybe it's worth more to someone interested in having those amenities.

So a houses value is really only in how big it is, how many rooms and bathrooms it has?

it will make it worth more but likely not as much more as the cost of the install/upgrade

 

[Lanny]

It looks a lot nicer down there. Why wouldn't it increase the value you if your house?

I know for outside ADUs you have to have a permit for them to be legal. Do you need a permit for an ADU inside your house?

You need a permit for most projects. You do not need a permit for existing fixtures or structures getting repaired or replaced. Anything new requires a permit. In Oregon the home owner and dweller can do the work but must have it reviewed by an inspector via the permit. Don't know about California.
In Oregon you must have a permit for additional circuits or outlets, additional plumbing fixtures, drain lines and so on. Check with the plans inspector if in doubt.

 

[Shaboid]

Offer accepted! Time to move this conversation over to the "The OFFICIAL Home Remodel Thread"!!

Appraisal came back a week before we expected, over the sale price, and "there are no special conditions or requirements which need to be met to uphold the opinion of value". I'm taking that as the financing will be accepted. We are moving up closing a couple weeks. I can't really believe it. Is this real life? What did I do to deserve this good fortune???

 

[crandc]

Been hauling multiple loads daily. Movers will only need to move furniture, electronics, heavy appliances, and about 30 boxes of books. I already moved 9 boxes of cookbooks.
Tomorrow Lucia and I will pack what we need for overnight stay. Since she will have to be closed in her room alone during the move, I hope at least becoming a but familiar she will be less freaked out.

 

[stampedehero]

Congratulations, my friend. Good luck to you!

 

[Shaboid]

I'm all moved into my place. Only took a weekend because after moving to Florida and back in the past 5 years, my possessions are pretty minimal. Excited to have a whole house to fill up with useless shit now -__-

 

[crandc]

All packed, ready to go, and no Lucia. She's a cat. She doesn't come when called. Usually comes home shortly after being called but not today. She knows something is up. All I can do is wait.

 

[ABM]

Dogs and cats seemed to have an inate ability to ascertain some type of change. Somewhat akin to my dogs' knowing a vet trip is in hand, even though I don't say a word.

 

[crandc]

Hardly innate when much of the house is in boxes.

When my neighbor got home, Lucia emerged to greet her. I scooped her up, put her in carrier and headed out. But in my hurry I didn't latch it securely, the door of the carrier popped open and Lucia ran out. I made a flying tackle, just missed her and she went over the fence to next yard. I decided to move all the stuff in the car and hope she would calm down by the time I returned. I dropped off the load, headed back, by now heavy traffic. Lucia was inside meowing to be fed. I gave her some food and after she ate got her successfully into carrier. Showed her her room. She first huddled behind toilet, then in shower stall next to litter box. I got new charcoal filters for her cat boxes but no idea where they are. Can't really unpack without furniture. I was by this time totally grubby so hit shower. And all my pajamas are still in old house. I found one slipper but not its mate. Possibly in car. Do have two clean T shirts. And an old hippie can eat dinner sitting on the floor.
Lucia has emerged and is sitting with me. I made up a bed of sorts on exercise mat.
Tomorrow meet movers and will have furniture.

 

[crandc]

Everything is moved. Tried to set up TV and gave up in despair. They detached everything. Found Roku but not cord for TV. Can't find Amazon streaming device. Tangle of wires that are stereo and TV. Also computer but think I can figure it out. Was hoping to sit back and watch some TV tonight.
Best thing to wait until morning. Start unpacking boxes in library. Possibly missing items ended up in one of them.
Poor Lucia left alone in strange place for hours.
Have my Bose stereo so can hear a little music. Haven't had proper meal since lunch yesterday.
Part of me wants to sit down and have a good cry but that solves nothing. Wish I knew a nice techno wiz.

 

[ABM]

For next time, whenever that is, all small electronics, connections, remotes, etc. go with you in your vehicle. Well awy from the other moved items.