Post # 1
So, we’ve only been house shopping for 2 months, but we’ve seen ~40 houses. Pretty much every single house that’s come on the market in the relatively small area where we’re looking. In May/early June, there were 2-3 new house on the market each week, but things seem to have slowed down now, with no new houses on the market during the past 3 weeks.
In June, a house came on the market that I LOVED, but we weren’t able to see it until it had been on the market for 2 days, and the night we saw it and fell in love (I tried not to, but it was perfect!), they accepted an offer (apparently they had several). I was totally heartbroken. Since then, we haven’t found anything close, despite raising our budget by 100k.
The current inventory is getting smaller and smaller… before there were 3-5 house that we really liked, but didn’t adore, and now they’ve all sold. There is one house remaining that we like a lot, but it does need a lot of updating (new flooring, new kitchen appliances, new kitchen someday) and has a few things we don’t like (basement doesn’t have a walk out and has a low ceiling). It’s been on the market around 130 days. We do like the location though – good neighborhood, great schools, decent lot. We won’t have the cash to do much updating anytime soon, so I guess I’m feeling “eh” about moving from our updated townhouse to a dated bigger house… it doesn’t really have any features right now that I am excited about, except maybe the fireplace.
I would probably just wait it out, except that I am currently 5.5 months pregnant wand we really wanted to move before the baby comes. If we bought right now, we’d probably be in the house by the time I was 7-7.5 months pregnant, which would be about the latest I’d want to move. Just worried that if we don’t buy now, it will be hard to house shop in the winter with a baby and we could end up not moving and missing out on low interest rates.
Hmm… what would you do??? I was up all night thinking about this!!!
Post # 3
Try not to rush things through for the baby. Hard I know, but despite all the craziness of a newborn its better than spending out on a new home you aren’t that fussed for.
Hold on tight, and your perfect dream house will be just around the corner – hopefully before the baby arrives.
Good luck! 🙂
Post # 4
- Wedding: October 2011 - Bed & Breakfast
If you want to PM me about your search area, I may have some thoughts. Mrs. BritishBroccoli is also really in the know about MD real estate for a different part of the state, so she may know something about your search area if I don’t.
The fact is that house hunting in some parts of MD is really, really hard, unless your budget is $650k+. We had a set search area with very little housing stock to choose from in the under $500k price point. Like you, we had to wait it out as houses in our search area very slowly trickled onto the market. It took us 18 months to find the right house at the right price with the right sellers. I know you just want to be done with it, but patience is truly your best option.
Don’t settle for a house that doesn’t meet your criteria and makes you feel meh. If you do, you’ll resent the house and mortgage payment every month, and that just sucks. But when you hold out for the right house, making that mortgage payment actually feels good, and you’ll find yourself grinning from ear to ear every day on your drive home from work. It’s so worth the wait.
Post # 5
@lucyh2bee: @lovekiss: – Thank you both! I am trying to listen to your advice!
The other contributing factors are that 1) I plan to only work part-time after the baby, and I don’t know if we’d qualify to buy without first selling our house if I wasn’t working full-time… we could always sell first, but with the way the market is, it’s nice to be non-contingent buyers (or at least not contingent on a house sale – of course we’ll have contingencies for the inspection/appraisal/financing)… and 2) My husband has OCD/anxiety issues and is not doing well with the idea of a bunch of baby gear in our townhouse, or with the idea of my parents coming to stay for a month when the baby is due (they are driving out from Oregon, coming 2 weeks early and staying for 2 weeks after – he wants them to come, but is worried we don’t have the space)… I think more space would make things a lot easier on him (and me, in turn). Also, my dad is ridiculously handy and has offered to install hardwood floors and do all kinds of other updates during the month that he visits, if we already have a new house… it would be nice to take advantage of that!
Another house did come on the market yesterday that looks pretty good… we’re going to see it tonight.
@lovekiss: I’ll send you a PM. Thanks!