You all warned me, but I was certain it would be different for me…

posted 3 years ago in Home
Post # 2
Member
42522 posts
Honey Beekeeper
  • Wedding: November 1999

alt_bride:  Don’t get discouraged. All of those people out there who own their own home got started somewhere.

Post # 3
Member
692 posts
Busy bee

Have you thought about buying a duplex or a place with an in-law apartment? That would offset some of the mortgage and allow you to bump up your budget, although you would have to qualify for that higher mortgage. They do take the rental income into consideration when deciding what they can lend you.

 

Post # 4
Member
6017 posts
Bee Keeper
  • Wedding: October 2013

 

I could have written this post!! We ran into the same exact problems. It was either shitty houses, small houses, or houses waaay out of our price range. There weren’t any “middle-ground” houses. You know, size we were looking for-maybe needed some work-but not a complete fixer upper. I still get listings every single day from my realtor but absolutely nothing has caught my eye. The ones that have are short sales and we really want to avoid those. It’s really discouraging. We’ve actually pretty much put a hold on house hunting…unless something amazing comes along by some miracle. Hopefully y’all will have better luck. Crossing my fingers for you because I know how hard it is!

Post # 5
Member
1779 posts
Buzzing bee
  • Wedding: June 2014

alt_bride:  I was feeling the same way. We searched online for months (8ish) before any homes we were even interested in seeing popped up within our budget. We disliked them all. So we eventually decided to move our search to a larger area rather than just our hometown and we found our dream home. Maybe try expanding where you would be willing to buy?

Post # 7
Member
9137 posts
Buzzing Beekeeper
  • Wedding: November 2013 - St. Augustine Beach, FL

alt_bride:  Take your time, save more money to put down, and keep an eye out for short sales.  Unless you are building your own home, it’s takes a while to find something already built that will tick all or most of your must have boxes.  Think of what you will need over the next 5-7 years and make up a list of minimum requirements and then some would love to haves under that.

There is nothing wrong with a fixer upper so long as the work that needs to be done is something you and/or your spouse can do yourselves.  I learned how to paint and lay tiles in order to save money on my old fixer upper.  The work isn’t perfect but only I can see the mistakes and I’m proud of the projects I was able to complete with my own two hands.

Post # 8
Member
2878 posts
Sugar bee

alt_bride:  Be patient. I find that most first owners tend to rush things, they hunt for a few months and get impatient and buy out of ”love at first sight” instead of being rational and wait for the right one at the price they want. FI and I have been looking on and off for houses for the past 2 years, nothing serious though, but out of all these options, we haven’t found a house we liked, can you imagine ? It alwats had something off (the price, the renovations needed, the way the rooms were disposed or the square feet ratio, the lack of intimacy, too close from the rails (lots of trains around here, etc.). I think it’s a good lesson for me who was so impatient to get a house before meeting my FI, it made me realize that it’s such a big investment that I need to be happy with our purchase and when we are truly ready to buy (meaning we  have more money for a downpayment, right now we have about 10% but we would like to get to 15% or even 20%), we agreed that we would wait up to a year or 2 if that’s what we needed in order to have the perfect house for us. 

Your money isn’t lost while you’re hunting. You can save even more and that’s a blessing in disguise. Really, just let your head take the decision and not only your heart. The market wants to get to your heart because that’s when you’re willing to spend extra cash on something (or pay more than your budget because ”it’s the one”… like wedding dresses !).

Post # 9
Member
1400 posts
Bumble bee
  • Wedding: June 2014

We house hunted almost every weekend for 10 months before finding the right house. In that time, we were also able to significantly raise our budget. So chin up, be patient, compromise some but not too much, and it’ll happen 🙂

Post # 10
Member
2368 posts
Buzzing bee
  • Wedding: June 2014

 It’s ok! We went through the exact same thing. Keep in mind that this winter has been brutal, and spring inventory isn’t on the market yet.  Also remember that not all renovations need to be completed asap. If you have functioning living space, kitchen and bath, you can update it as you go.

Post # 11
Hostess
9919 posts
Buzzing Beekeeper
  • Wedding: May 2014

alt_bride:  you must be in the GTA.  My FH and I have been thinking about buying a home about a year after the wedding – but the prices terrify me.  We’ll probably end up way over in the west end (we’re west anyways) in order to get anything worth having.

Post # 13
Hostess
9919 posts
Buzzing Beekeeper
  • Wedding: May 2014

alt_bride:  lol – KW is practically the GTA these days.  I used to live in Guelph, we were there for 3 years and then FH got a job in Mississauga.  The commute made him a cranky POS so I decided we were moving and I would commute for my final year of school.  We now live in Mississauga, and will probably end up buying in Milton (which is still insane – but less so than Mississauga) – FH refuses to consider going north of the 401 to Brampton, he’s not hearing of it (even though it’s cheaper). We’re both east coasters, FH’s family lives in a very small town where his brother bought a house (granted about 800 sq ft of house, but still a house) for just under 60k. 

Good luck with your search – I’m sure you’ll find the perfect house 🙂

OR find Scott McGilvary and get him to come renovate you an income suite!

Post # 14
Member
6274 posts
Bee Keeper
  • Wedding: October 2013

 

alt_bride:  how long have you been looking?  the year i bought my house, i started looking in november and found the perfect house in march, i saw 50 houses.  my realtor told me she had clients that look over a year. 

the good news is that, spring is just around the corner and many people put their houses on the market in spring.  winter is a deadtime for selling, especially if people have kids.

good luck!  don’t get discouraged.  you will know when you find the perfect house for you.

Post # 15
Member
228 posts
Helper bee
  • Wedding: July 2014 - Backyard

I am sorry this is so hard! SO and I often wonder how do other people do it? We have decentish jobs, multiple college degrees (that only makes us bitter) and we still can’t afford anything reasonable. REASONABLE. We are not looking for a McMansion! Just some solid walls with enough room to breathe. 

Hang in there and try to be patient. It will happen!

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