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Buyer’s Remorse (A Tale of Two Houses)
Posted: 02 October 2009 08:12 PM   [ Ignore ]   [ # 26 ]
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stepping_up - 03 October 2009 02:00 AM

Since you are able to do all your improvements at once, I think when you move in and make it your home, you will likely feel better. We have had to do things in drips and drabs. We did interior paint, flooring, new baseboards and opening a wall before we moved in and had to buy appliances. Spiffing up the yard came next and this year we have done some pavers and a patio and finally got some blinds, but nearly everything else has been put on hold. The exterior is still the color of pistachio ice cream and the kitchen is horrendous. At least your house will be remodeled and painted how you wanted before you move in.

As much as it seems like I’m complaining, what I found is that you just get used to it. I really enjoy visualzing and dreaming of what we could do if we had the money. Little by little it gets there and it becomes what you envision.

One of the things that makes me feel better about it is that my husband really likes the house. Does your husband feel remorse too?

No, my husband has no regrets. He feels bad that I’m not happy, but that’s it. He thinks I’ll come around once the remodeling is done.

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Posted: 06 October 2009 09:44 AM   [ Ignore ]   [ # 27 ]
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In case anyone is interested, I just found out that the condo sold for over $30k more than we paid for our house.

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Posted: 06 October 2009 09:57 AM   [ Ignore ]   [ # 28 ]
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traceimage - 06 October 2009 04:44 PM

In case anyone is interested, I just found out that the condo sold for over $30k more than we paid for our house.

I don’t know what your construction costs are… but if it’s within that amount… that’s a bonus!

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Posted: 06 October 2009 11:14 AM   [ Ignore ]   [ # 29 ]
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irvine_home_owner - 06 October 2009 04:57 PM
traceimage - 06 October 2009 04:44 PM

In case anyone is interested, I just found out that the condo sold for over $30k more than we paid for our house.

I don’t know what your construction costs are… but if it’s within that amount… that’s a bonus!

Unfortunately, we’re gonna end up spending more than this on our renovations. But still, it makes me glad to know that at least we paid less for a house than those buyers paid for a condo.

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Posted: 06 October 2009 11:31 AM   [ Ignore ]   [ # 30 ]
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traceimage - 06 October 2009 06:14 PM
irvine_home_owner - 06 October 2009 04:57 PM
traceimage - 06 October 2009 04:44 PM

In case anyone is interested, I just found out that the condo sold for over $30k more than we paid for our house.

I don’t know what your construction costs are… but if it’s within that amount… that’s a bonus!

Unfortunately, we’re gonna end up spending more than this on our renovations. But still, it makes me glad to know that at least we paid less for a house than those buyers paid for a condo.

See, aren’t you glad that you didn’t buy that condo?  I really feel that once you move in and the place is completely remodeled the way you want it, you’ll be a happy camper.

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Posted: 17 November 2009 03:46 PM   [ Ignore ]   [ # 31 ]
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Hey listen, I know all these guys are trying to make you feel better…

I bought a brandnew home two years ago. First I loved it then I started loving it less and less. I started having late buyers remorse… I hated it more and more. I was working more than I should to pay for everything..  Incl a $1k/month HOA/tax bill… I started hating my life… Work work work, no time to enjoy the home and ugly neighbour hood. No time for my races and sports I love…

So barley a 1 1/2 years later I decided to sell… For a good loss, close to $75k… I moved back to my old decent condo, nothing special but at a 1/4 of the cost… I know do again what I really enjoy… And my old cheap condo is doing just fine for me because I’m barley ever there anyway…

My point is… What’s important to you living a happy live and do what you like (which might be spending a lot of time at home)

if you move in and you still hate the house… Sell it, move on take the loss, don’t stay it in because you are ‘stuck’

I felt stuck, one day I woke up and said f.. it, I’m unhappy… Let’s change it…

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Posted: 17 November 2009 08:39 PM   [ Ignore ]   [ # 32 ]
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Interesting perspectives, thanks for sharing. I am in the market myself so I found this thread particularly helpful.

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Posted: 17 November 2009 09:13 PM   [ Ignore ]   [ # 33 ]
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how can I have missed this thread?  Trace.. thanks for sharing… yes, I have similar visions of gutting out a few LBC homes we been in.. the location might be great, but the thought of spending thousands of dollars, waiting for months and finding a reputable contractor all bring me back to reality…

a couple of questions… did you have a contractor in mind before you bought?  Did they take a look and quoted before you bought?  How is the project now?  It’s been a few weeks, any update?

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Posted: 17 November 2009 11:03 PM   [ Ignore ]   [ # 34 ]
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You know there’s really 3 general kind of buyers out:

1. Buyers looking for a turnkey property where they can move-in right away without doing anything with the home
2. Buyers that don’t mind doing some minor upgrades and/or TLC to the home they buy (majority of buyers)
3. Buyers looking for a bit of fixer so they can totally transform it into their dream home (minor of buyers)

So at the end of the day, it all depends on what the buyer’s goals are for the home are.

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Posted: 18 November 2009 12:30 AM   [ Ignore ]   [ # 35 ]
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roundcorners - 18 November 2009 05:13 AM

how can I have missed this thread?  Trace.. thanks for sharing… yes, I have similar visions of gutting out a few LBC homes we been in.. the location might be great, but the thought of spending thousands of dollars, waiting for months and finding a reputable contractor all bring me back to reality…

a couple of questions… did you have a contractor in mind before you bought?  Did they take a look and quoted before you bought?  How is the project now?  It’s been a few weeks, any update?

No, we didn’t have a contractor when we bought the house, so we spent about 2 weeks finding a contractor after we bought it. We also had a wedding on the East Coast right after closing escrow, so that delayed us even more with getting started.

Oh gosh, how is the project now…I think I’ll be about 87 when it’s done! It’s taking forever. Nothing’s really been done except wiring and plumbing, so no visible improvements yet, although supposedly our cabinets have been made. Now if only we could get them installed! Right now we are waiting for the city inspection. That’s what is holding everything else up. Hopefully it will happen this week.

I’m still beating myself up for buying this house. I really think we should have bought something move-in ready. Oh well, lesson learned!

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