Buying a house is STRESSFUL!

posted 2 years ago in Home
Post # 2
Member
47253 posts
Honey Beekeeper
  • Wedding: November 1999

anon1227 :  That doesn’t actually sound too bad. Many people make dozens of offers before they secure a house.

Buying a house involves spending the largest sum of money in your life, so it’s bound to be stressful. You will get through it.

Post # 3
Member
1435 posts
Bumble bee
  • Wedding: March 2018

Sucks that they won’t replace the septic pipe but I guess it’s better to know going in then to find out after closing and be blind-sided. I’d rather know that they didn’t try to fix it themselves with potential shoddy work and have it break again lol It shouldn’t be that much to fix/replace the pipe. We had to pay 10k to replace our sewer pipe at my old house that was clogged with tree roots and that included part of the towns property-ugh. As for the moles, you can probably find a natural deterrent to keep them at bay. 

Been house hunting 8+ months and 10 offers in and none accepted in a sellers market near us. Averaging 2 open houses a weekend plus private showings-F house hunting, we feel totally deflated by the process 

good luck and wish you the best at closing-the stress will end soon! 

Post # 4
Member
161 posts
Blushing bee
  • Wedding: May 2014

It sucks that they won’t replace the pipe, but it is great that your offer was accepted! You have to think about how much it’ll cost to replace and how much of a headache that might be, but also how much of a headache turning away from this house and finding another one. Really depends on the market you’re in.

In the market I’m in, we was lucky to have an inspection – most people do without one. And we did find sewer problems. The previous owners decided to fix it for us (luckily) and I’m not sure if we would have decided an extra 10K immediately for pipe bursting was worth it. (Based on the way our property is situated, it would have been more for any other way of replacing the pipe). We were in a situation where we were looking for a house but weren’t in a huge rush. We wanted to move, but there was nothing that was driving us to finalize something quicker (like a baby on the way, moving to a new city for a job, lease being up on a rental, etc.)

Post # 5
Member
8463 posts
Bumble Beekeeper

 anon1227 :  I paid $10k over asking price for a house that needed a new roof and foundation work immediately (plus a million other problems that weren’t as pressing). That was 5 years ago and it’s considered a steal because our market is so hot. It sounds like you are also in a hot market so if the house is good and only has one repair I’d say you did pretty well! 

Post # 6
Member
1954 posts
Buzzing bee
  • Wedding: October 2013

🙋🏻‍♀️

We put 3 offers on houses over a span of ten months and our 4th one finally got accepted. It was 12k over asking (hot market). The seller did a few repairs (took care of mold in the attic and resealed the roof) to a tune of about 6k. The second week we were living here, our pipes exploded. Between drywall repair and repiping the entire house, we sunk in about 10k. That’s in addition to replacing the furnace and water heater before we even moved in! 

I feel your pain girl. 

Post # 7
Member
1745 posts
Bumble bee
  • Wedding: August 2017

The market you’re in sounds pretty hot, which is probably why they aren’t very flexible.

I bought my house a few years ago, there was no previous water damage disclosed, but when my insurance agent was getting my home owners policy together before the closing day, they discovered a sewer backup claim from severa years ago. Turns out they had all the damage fixed, but hadn’t put in a sewer back flow valve to prevent it from happening again, so my insurance wasn’t going to cover sewer back up.

Because it wasn’t disclosed and it was in the week before closing (we had a short close of < 4 weeks, and the house had been on the market for 10+ months). I told my realtor I was going to walk if it wasn’t fixed, sellers ended up paying for it but it delayed our closing by 3-4 days. 

So… if the market in your area isn’t hot you can always threaten to walk away and see what happens. But if it’s a hot market with potentially lots of interest and you love everything else, it may be worth just sucking up.

Post # 8
Member
743 posts
Busy bee

I’m not a expert, but I don’t think this sounds that bad. All houses have some issue to deal with. Do you know of the 3000that the seller went down will pay to fix the issue? Our house had hail damage that would have caused it to be rejected by our loan. But our agent suggested the seller put a claim on the insurance, and we got a whole new roof. I just about had a stroke when they told me about the roof, I thought that was it. I guess when something is meant to be, it works itself out. We bought our house against all odds in a market where houses were selling in a matter of hours, it was SO hard.

I’d probably go through with it too. But I would do all you can to see about getting estimates on what you are getting into to fix the problem, and try to get more than one, just in case.

Either way, good luck with your new home! It’s stressful to get a new house, but over time it becomes your home.

Post # 9
Member
3007 posts
Sugar bee
  • Wedding: September 2008

Ugh, it is totally stressful! There is always something that needs work on a house. Always. We had some dry rot on ours that’s been a hassle to fix. And we also have gophers who are so cute but they are destroying the garden so they need to go. 

Sewer main problems are really common but expensive to fix. Did you look into whether the $3000 would cover it? That sounds a little low to me but we live in a high COL area. 

Post # 10
Member
704 posts
Busy bee

Buying a home is a bummer, but that doesn’t sound too bad to me. 

We had 3 rejected offers. We waived all contingencies, offered almost 300k (sigh, you read that right!) above ask, and then spent 25k in repairs (sewer stuff, rat proofing..) on our home. Our rejected offers were similar, but we lost to all cash offers. Nuts.

This was my first home. No regrets, we did what is standard in our market and don’t feel like we overpaid, at least not relative to the area. We are lucky to own! Every year just gets worse.. 

Congrats on homeownership! You are now building equity with every mortgage payment. There’s always a few hassles, but on balance, I’m sure it’s an overall great financial decision for you!  

 

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