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Housing Update
So, yesterday I went out and checked out my first set of homes. And found this really nice condo and asked to see it again. It's got a great location. 1/2 KM from a grocery store, backs onto a golf course, and there are some power lines at the back which means the backyard is way bigger than it should be.
I went through a dilemma last night, because I knew I was interested in that one place, but real estate moves fast and I was afraid if I waited I'd miss it. And there was this other property, in the same neighbourhood as the one I missed out on last weekend but it's not doing any showings until next Wednesday. Should I wait for the other house? Or go for this one? I ended up sitting down with a calculator and looking at my finances. The one that isn't showing until next week is $40,000 more and would really be pushing my budget. Even though it's a freehold in the suburbs I decided that I didn't want to put myself in that kind of a financial situation, not if I ever want to have money to do things (like Bluesfest! Ani Difranco! LIVE, OLP! I *have* to go).
So today I went and saw the condo again. I decided that I still really like it, and want to put an offer in for it. Thank god I have a realtor, because he did some research and discovered that the place is really over priced at the moment. Right now it's listed as $177,777 and I thought maybe I'd end up with $175,000. Turns out when the current owner bought it two years ago, she paid $153,000 for it. The last two units that sold at this condo address went for $150,000 and $155,000. Now these weren't ones that backed onto the golf course, and some in the neighbourhood have sold for $175,000 but in different parts, and they probably had work done on them. This place is nice, and there's anything major that would need to be done, but I would definitely have to paint pretty much everywhere. I don't think the current owner has painted anything but the bedrooms since she moved there and on a lot of the walls dents and nicks have been filled in but where never painted over. And the kitchen is looking a little tired and pretty much all the carpet would need to be replaced sometime in the near future. So we're thinking of putting an offer in for $165,000.
I really hope I get this one, but I think I have to be prepared to walk away too if the buyer isn't willing to come down in price.
In other news, my sister is down visiting this weekend with the baby :D
I went through a dilemma last night, because I knew I was interested in that one place, but real estate moves fast and I was afraid if I waited I'd miss it. And there was this other property, in the same neighbourhood as the one I missed out on last weekend but it's not doing any showings until next Wednesday. Should I wait for the other house? Or go for this one? I ended up sitting down with a calculator and looking at my finances. The one that isn't showing until next week is $40,000 more and would really be pushing my budget. Even though it's a freehold in the suburbs I decided that I didn't want to put myself in that kind of a financial situation, not if I ever want to have money to do things (like Bluesfest! Ani Difranco! LIVE, OLP! I *have* to go).
So today I went and saw the condo again. I decided that I still really like it, and want to put an offer in for it. Thank god I have a realtor, because he did some research and discovered that the place is really over priced at the moment. Right now it's listed as $177,777 and I thought maybe I'd end up with $175,000. Turns out when the current owner bought it two years ago, she paid $153,000 for it. The last two units that sold at this condo address went for $150,000 and $155,000. Now these weren't ones that backed onto the golf course, and some in the neighbourhood have sold for $175,000 but in different parts, and they probably had work done on them. This place is nice, and there's anything major that would need to be done, but I would definitely have to paint pretty much everywhere. I don't think the current owner has painted anything but the bedrooms since she moved there and on a lot of the walls dents and nicks have been filled in but where never painted over. And the kitchen is looking a little tired and pretty much all the carpet would need to be replaced sometime in the near future. So we're thinking of putting an offer in for $165,000.
I really hope I get this one, but I think I have to be prepared to walk away too if the buyer isn't willing to come down in price.
In other news, my sister is down visiting this weekend with the baby :D