House Disappointment

posted 2 years ago in Home
Post # 2
Member
2455 posts
Buzzing bee

Stephanie8904:  Awe that sucks. I know it’s just a vent and you probably don’t need advice but just remember your renos may have improved the home’s value! And it’ll be easier buying a new house when you have one to sell. Maybe it’ll take a little longer than you expected but don’t worry! Happens to the best of us!

As for the place feeling small, I’d pinterest some awesome temporary/DIY storage ideas for toys and baby stuff 🙂

Post # 3
Member
221 posts
Helper bee
  • Wedding: April 2014

Usually when you’re upgrading homes (as in you already own one and want to buy a better home) all of your down payment comes from the equity from your current home. I have sold two homes and am living in my third. I only had a cash down payment for my very first home. You hopefully built up quite a lot of equity by renovating and have paid down some of the prinicple on your mortgage which gives you even more equity in your home.

In my opinion, it’s easier to upgrade houses than to get into owning your first home. If you’re this annoyed you should get an appraisal done. Some realtors will do them for free hoping to get your listing, otherwise you can pay a couple hundred bucks to get a professional appraisal done. Maybe it will ease your mind on when you can afford to look at bigger/better homes.

Post # 4
Member
2302 posts
Buzzing bee
  • Wedding: June 2015

get an appraisal done – see what your house values at now! you may be surprised and your down payment for a new house can come from the equity from this house. 

Post # 5
Member
509 posts
Busy bee
  • Wedding: September 2013

I could have wrote your post, except I’m pregnant with baby #2. I don’t think we will ever make back the money we have been putting into it. 

Post # 6
Member
364 posts
Helper bee
  • Wedding: November 2013

 

Stephanie8904:  I know the feeling!  We aren’t entirely in the same situation but we do feel 100% stuck.  My husband and I both owned “starter homes” before we ever met and both bought at the height of the market before it all crashed.  Now we are stuck with two homes that do not work for a family at all!  We rent out my townhome and currently live in his home.  We are expecting our first baby and I don’t know where the heck we are going to fit the baby in!  We have a two bedroom, one bathroom home, but the second bedroom is in the dungeon basement and it kills me to think of our new baby down in the dungeon.  Its a 1950’s home so there isn’t even room in our room for a crib.  We, of course, are still under water on both homes, so we are totally stuck!!!  I have had so many breakdowns over it, but I have learned there is nothing we can do, so I am trying to make the best of our situation until we can sell of of the homes.  But I feel your pain, I really do!!!

Post # 8
Member
3756 posts
Honey bee
  • Wedding: April 2014

I would definitely see what you have for equity in the house with what you’ve paid so far and the upgrades you’ve made. You might be surprised and have more than you think to put towards a new larger home.

Post # 9
Member
57 posts
Worker bee
  • Wedding: August 2013

I understand that “trapped” feeling. When DH and I started to think seriously about babies, we put our tiny starter house on the market and it say for almost 6 months with no real interest. It was brutal. It was agonizing, frustrating, and 6 months may not seem like a long time, but when you’re watching all the other homes sell… very, very hard. I had just about given up when we got an offer, and we made back our upgrade investments and then some. Look at things like the yard, the curb appeal of the house. That’s all we did, and it went a long way in selling the house.

 

I agree with the others, tally up what you’ve spent, have a realtor do a mini appraisal, go to the bank and see what your options are.

  • This reply was modified 2 years, 2 months ago by  sherry17.
Post # 11
Member
102 posts
Blushing bee

My husband and I have lived in our small, 2 bed/1 bath home for just shy of five years. We have two young children. I find that we have to declutter and go through toys and clothes often to keep things in order.

I think we’re different than most in that we just don’t get the need for a ton of space. Our kids are boy/girl, 2.5 years apart and share a room. It works. When they’re older we’ll make other arrangements (we have a finished basement) but for now it’s actually perfect. 

We’ve put a little money into our house, but we are not rich by any means. We’re underwater so even if we wanted to buy a bigger house we wouldn’t be able to so we make do with what we have. We live in a great neighborhood that’s safe and in an excellent school district. We bought our home as a place to live and not a piggy bank so we’re happy. 

 

Post # 12
Member
829 posts
Busy bee

“We have flooring for our kitchen, I just haven’t gotten around to installing it yet.”– YOU haven’t gotton around to it? How much of the rennovation is your husband doing? It sounds like you have a lot on your plate right now with a baby and if he’s dumping all the home improvement projects on you, this just isn’t fair! He need to help out more! It does NOT matter if he wants another child right now [of course HE would b/c he doesn’t realize how much work it is!] the situation is not good for another child. Tell him NO! not until you get this house done and move into a new home accomodating of another child.

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