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Now we are really in trouble

February 14th, 2011 at 10:22 am

We took the family to look at houses yesterday. Our plan is to move into the best school district in the area in the next 1 to 2 years.

And of course, we found a house we adore on the first trip out. We have agreed to discuss logistics-- selling this one, staging it, etc.

Anything with two toddlers is crazy.

We will no matter what be losing money on this place, but we have 100 percent equity, so no matter what we make we will be able to put that toward paying down the next place.

Still, it's depressing. We paid 154k, put 40k into serious upgrades and maintenance, and the realtor says we need to list in the 130s, because the house is small. UGH!!!! Even if we waited until the market were up, we wouldn't get our money back.

We plan to look at more houses, but if this one still sticks with us-- do we go for it? Or do we stick to our original plan?

5 Responses to “Now we are really in trouble”

  1. MonkeyMama Says:

    I can't answer for you, but that's kind of how it is been for us. It's always one of the first homes we see. (We've bought 2 homes and LOVED them both - none of this house shopping for months/years business).

    I presume *no house payment* gives you a lot of flexibility.

    Personally we bought our *forever house* before kids so we wouldn't have to move with kids. Wink That said, I don't think it will get much easier between now and 1-2 years later. It is what it is. Imagine moving while pregnant, or with a newborn, and it will seem easier. I am astounded by the number of people I know moving with newborns. Not sure I could do it!

  2. MonkeyMama Says:

    P.S. "Hasty" house buying aside, there are always other fish in the sea. Go with your gut, but don't get too caught up in it if it doesn't work out logistically. There will be more houses.

  3. creditcardfree Says:

    I think I would stick with your original plan...because there are always other houses.

  4. ThriftoRama Says:

    There are always other houses. It is true. We have to crunch numbers this week, take another look, look at more.

    I will say we are like MonkeyMama, When we know, we know, and we've never regretted it. We aren't indecisive. We have a list of what we want. This is all of it.

    There are other houses, true. But, this has a gigantic lot-- half an acre in an area where a quarter or less is common, and is less than half a mile from the elementary school and three parks. And, hubby can bike to work.

  5. LuckyRobin Says:

    As someone who rushed into buying a house the first time, and pretty much throwing all our careful plans out the window, I would highly reccommend against rushing into it. I'm not saying don't do it, but just make sure it is what you really, really want. You only just started looking. Maybe it's perfect. Maybe it is everything you want. But maybe there is an even better fit. We didn't stick to our original plan and we have always regretted it. Despite getting a home inspection there turned out to be a lot of hidden flaws in a house that at first seemed perfect and if we hadn't been in such an all-fired rush towards homeownership and started looking too early just to "see what was out there," we might have paid better attention.

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