We've been saving toward a house, with plans to move next summer. We love our ward and feel settled here, but this neighborhood is overpriced for the size of the houses and lots. We've been looking at a certain section of Rose Park dubbed "Sugarhood" because it's the same age as Sugarhouse but it's on the wrong side of the freeway, so the houses cost $100K less.
Now this house shows up. And it's just within the high end of our price range. We might have enough for a down payment, but it will take all of our savings. I'd been planning to keep a $5,000 buffer in savings for emergencies, and that will take a long time to reaccumulate if we buy now.
The house needs some work, but it's move-in ready. According to Patricia, the floor under the tub needs to be reinforced, and the loft bedroom isn't heated. The plumbing is industrial grade and shouldn't be a problem. I don't know about electrical or the roof. We're going to make a low offer and see what they say.
PROS
It's in our ward, and we like it here
We like the school
It's cute
The back yard is big for this neighborhood
It has an established garden, and Patricia had chickens
It's fully fenced
CONS
It's small. Our sofa and love seat won't both fit in that living room.
It has only one bathroom in an awkward location--off the kitchen in the back of the house
It's on an alley street between an apartment parking lot and a condemned house
Atticus may be the only deacon in our ward
SO... all you veteran home buyers, I'd like your input. We can find a cute house with a good back yard and garden in Rose Park for $40,000 cheaper than they're asking for this house. Maybe even with 2 bathrooms and a finished basement. I know it's financially more prudent to wait until we've saved more money and are better prepared to buy. Sugarhood isn't a bad place to live. Cute streets with brick houses and sidewalks and trees and families.
But it's new. We'd have to reestablish ourselves there, make new friends, find our niche. There are more kids, but is that always a good thing? There were plenty of kids in American Fork, but that didn't guarantee a good experience for anyone.
I guess the trade off comes down to this: live where we like at the edge of our means or live where we *might* like below our means.
Do I start manifesting that they'll accept our offer?
3 comments:
I haven't looked at the house pictures yet, because there's enough in your description to convince me it's not a good fit...yet.
1. Bathroom. You and your guests will use this room every single day, several times a day. You will regret its size and inconvenience every. single. day.
2. Immediate neighbors. Apartment parking lot = noise, high turnover. Condemned house = constant worry/concern about the future of the property and how that affects your future. Buying a house is a commitment to the neighborhood and the people in that neighborhood. You will need to form and maintain long-term relationships with these people you haven't met yet, whether you end up liking them or not.
3. There are other cute yards, gardens, chickens, and fences. There are other cute houses. Don't commit to an offer on this house until you've seen several other houses in this ward and other wards. You will not regret spending time looking other places. If this house is truly the one for you, then looking at other properties will cement that into your mind.
4. I literally fell in love with 5 houses, one at a time, swearing that THAT house was the one for our future family every single time. Then we looked into it further with an experienced Realtor and discovered that it was a lovely house, just not a good fit for our needs and family. The house we ended up buying was not my first pick. We saw 2 dozen houses over a couple months. Then the choice was clear.
Good luck with your hunt!
*sigh*
I know you're right, Suz. But still... it's an affordable house on a good sized lot IN OUR WARD. That doesn't come up very often. It's really hard to pass up the location, even with its faults.
I had inquired about the house when the original owner died, then later decided it was too small and didn't want it anymore. Now that it's on the market, though, I'm more drawn to it than I expected.
I've made an appointment with a realtor our friends have bought and sold 3 houses with, and we're looking into how much we're pre-approved for. We'll look at other houses. We don't plan to rush into anything.
I've looked at the pictures now. It's dang cute. Right up your alley, actually. You could easily make that place fit your family's personality and I would be thrilled to visit you there. I have significant reservations,yes, but it's pretty darn cute.
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