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Old 03-07-2018, 04:08 PM
 
169 posts, read 91,712 times
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Why not rent it out?
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Old 03-07-2018, 04:21 PM
KCZ
 
1,557 posts, read 769,979 times
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When you move, find something to rent. That way you can get to know the area and if you like it and decide to stay, then you can take your time looking around for a house that suits you. Don't make the same mistake twice. And remember that you're still going to have to hang drapes and rearrange furniture in your next house too.
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Old 03-07-2018, 04:47 PM
 
Location: Blue Ridge Mntns., NC
10,253 posts, read 14,109,677 times
Reputation: 8775
Quote:
Originally Posted by bpollen View Post
Thanks. Yes, might be best to wait a full year. Although I don't think I'll make money on the sale.

I'll do a list. So many things to do.

As for a good friend, that's not going to happen. I don't belong here. There is no social life here. People do things with family (in my age bracket). However, I will be joining the gym and getting back into a normal life routine. But as far as a friend...that is not going to happen here. I'm a friendly person and chatty, and the people are nice, so that's not the issue. I just don't belong with the lifestyle. I do know a couple of people here from years ago, but we no longer have anything in common. One has sadly become an alcoholic (probably from the boredom here).

As for the dreary winter, that was actually much better than the summer. The summers here are almost unbearable. My back yard becomes a swamp with all the rain, so when I walk out the back, I get hit with a wall of humidity. I can't stop sweating even in a/c. So the winter was quite enjoyable, esp since there were a couple of freezing spells.

What's good about it:
1. It's an attractive house. (not beautiful, but attractive. Old-looking rustic sort of reddish brick, french style architecture with highly pitched roof)
2. It's in a growing area near a newly constructed park w/playground and boat launch.
3. I am able to go to the park every day (it's 3 mi. away) for me and my dog to get a little walking in (I can't walk in my neighborhood...it's a dead end, and too many loose dogs).
4. The utilities are low
5. It seems to be insulated well.
6. Whirlpool tub (I have intentionally not used it at all; I'm afraid it won't work right, and I can't afford to get more upset than I am.)
7. Quartz countertop in a neutral color. (Everything in the house is neutral. Boring, dull, bland neutral.)
8. Open LR/Kitch/DR area.
9. Solid oak wood built-ins in utility room and LR (I hate built-ins, but other people seem to like them; and these are high quality)
10. The paint is professional, spray job, done well.
11. Nice windows that go low to the floor.
12. Upscale neighborhood, I guess.

So I guess I have to be prepared to take maybe a $15,000 hit for r.e. fee + moving costs + closing costs. Very upsetting. I really did it this time.

I think that would be better than having to pay for a new a/c or roof, or both, because then, even if I get more for the house, I still had $19,000 for the a/c&roof.

I'll plan to sell it next spring. I'm making improvements, so maybe it'll sell. I'll have to take the loss. Punishment for my mistake. I'll have to make that money up in other ways somehow. No more pets, used instead of new car for my next car. I could get a part time job, but I don't think that would make a dent in it.


First settle down and write out the things you like/love about the house like your #1 to #12 above. Now write out the minimum improvements, reasonable decoraint you could make to attract a good buyer. If the market is still good where you are, try selling it by owner after you get a bonafide appraisal. It doesn't sound like you were pressured into buying the house; more that you just made a hasty decision. It's not the end of the world.

Get yourself motivated to sell it and give it a try, you have nothing to lose. You don't have to explain to potential buyers why you are selling, that can be confidential unless you alone want to disclose it. Don't get mired down in some sort of depression, realize that you can do this, it's been done many times before -- you're not the first one to make this 'boo boo'.

Best wishes.
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Old 03-07-2018, 05:01 PM
 
Location: NC
6,081 posts, read 7,047,947 times
Reputation: 12054
Once you have decided to move, and it sounds like you have, simply do the minimum to the house to make it acceptable to a new buyer. Do you need to put up drapes? Maybe not. Unpack? Maybe not. Go back to working out a target area to move to that will have better prospects than you have now. You don't want to just go from frying pan to fire. You want assurance that the new location will have what this one lacks.

BTW, many of us older folks are in a similar social position, since retirees don't have automatic common interests to help them integrate into a community. Work and kids are great for meeting people and we are past that, for good or for bad.
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Old 03-07-2018, 05:25 PM
 
570 posts, read 222,840 times
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I wouldn't count out meeting new people. You might find a friend where you least expect it. When I have moved to a new area, I've found it takes at least a year to feel like I fit in and find people with common interests. Who knows, you might make a friend like you who also hates the area with whom you could commiserate with

In regards to selling your house, do a lot of research before you sign a contract with any realtor. There are more options to sell nowadays than there used to be and there is also a lot of variation in realtor fees. The realtor I work with in my area only charges 1% to sell vs. the normal 2.4% for my area. They don't do open houses but in my market, we don't need them. You might be able to shop around and find opportunities like that where you can save money when you sell. You will still need to pay the buyer's agent out of the sale proceeds so any chance to reduce commission cost on your side would help.

Selling within a short amount of time is hard because, unless the market is strong, and you bought low and/or it appreciated since purchase, you will probably end up eating any closing costs you paid when you bought such as loan origination fee, inspections fees, appraisal fees, title insurance, etc. If you can stay a little longer, you might be able to break even or a little better.

Is there anything you could do to the house in the meantime to make it your own so you feel more happy and comfortable that might also help you when you go to sell it? Minor cosmetic upgrades etc.?
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Old 03-07-2018, 05:32 PM
 
Location: NC
1,789 posts, read 865,424 times
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Quote:
Originally Posted by JanND View Post
And, never buy a house out of desperation and haste again. Take your time, get to know the area for at least a year....then you'll know where you want to buy.

ETA: Having read your description your house sounds very nice. I don't think that you'll have a hard time selling it. If I was as miserable as your say you are, I'd put it on the market this spring. Hang in, you'll be fine.


Good luck.
I don't think she purchased the house in haste. I believe she looked for a year or more before finally deciding on this house.

bpollen, try not to over analyze on the next house. You killed yourself agonizing over every little detail on every single house you looked at. You blew off any real estate agents because you felt you could do a better job on your own. It would have helped to have that voice in your ear (from a real person, not your anxiety) talking you through things. I feel badly for you. You spent so much time and stressed yourself out so much and now you still regret your purchase. Buying a house is very stressful, don't make it more so by over analyzing every single part of it.

We purchased our home 2 years ago. It's not perfect and it won't be my forever home, but it's a cute cottage with magnificent views. We will be able to rent it out as a vacation rental down the road, but for now we make due (the neighborhood is great, gravel road, just a few houses and wonderful dog walking - because there isn't any real traffic and my dogs can be off leash on the top of our mountain) because we aren't miserable. Just not in our forever home, that's all.
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Old 03-07-2018, 05:32 PM
 
987 posts, read 284,579 times
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At least you have convinced yourself and can speak with conviction when you tell relatives it isn't a good idea to move near them.

Good luck.
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Old 03-07-2018, 05:37 PM
 
10,276 posts, read 6,523,579 times
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Quote:
Originally Posted by bpollen View Post
I bought a house last summer, after househunting in different places for over a year. I ended up buying in Louisiana after unsuccessfully trying to buy a house in Tyler TX (the r.e. market there was horrible...I even offered full list price cash offer & didn't get it). So in desperation (I had to move because of my rental), I ended up buying a house in La. near relatives...they were subtly putting pressure on me, and I was renting in the area.

I hated it right away and realized I'd made a mistake after the purchase. But people told me it's buyer's remorse, to give it time, etc.

It's now eight months later, and I hate it more than ever. I go to sleep every night thinking how much I hate it here. I hate the area, the house, the people (some of the people are fine). I have sunk into a depression such that it's hard for me to get things done. The least issue with hanging drapes sends me to bed in despair from having to handle one more "issue" with this house and area. I still haven't hung the drapes (there's an issue with the hardware...the lazy prior owners hung all the hardware without anchors, so they have to all be rehung properly, and it messes up the walls...which are painted a COLOR so will not be able to be matched...it's a mess).

I'm not even unpacked all the way. I'm having an "issue" placing my furniture and things, and then I'm thinking I shouldn't unpack all the way, since I hope to move to somewhere else.

My question is: I guess I can expect to take a hit on the price when I sell, right? I'll be selling, if someone will buy it, within a year of buying it.

How do I buy a new house without moving out of my current house? Do I wait to get a contract on my house, then hurry up and travel to the new city and buy something in a hurry? How does that work?

I totally screwed up. So I need to correct my mess. I didn't get a great deal on the house. You think odds are I can get the same as I paid for it, at least? Interest rates are going up, so that will be an issue.

Has anyone else made a mistake like this?
Maybe it would be best to stop dwelling on the negative and be grateful you have a home and a roof over your head. home values are increasing as values are rebounding to the pre housing crash level and above in many areas and rents are going up fast. Also maybe some counseling would help, you are stressing yourself out over drapes.
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Old 03-07-2018, 05:42 PM
 
Location: Long Island
749 posts, read 673,720 times
Reputation: 501
It can't hurt to list it. You may be surprised what you might get. Definetly find a good realtor local to the area, who can price it right (sounds like a growing area, so higher makes sense). Zillow has created this trend of non local realtors who rarely know the area the listing is in, but get high exposure by paying a fee to be listed on that listing. You want someone local that will get the most for you and sell it at the right price. That may be worth the extra 2% commission in my book.
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Old 03-07-2018, 05:43 PM
 
10,276 posts, read 6,523,579 times
Reputation: 10857
Quote:
Originally Posted by bpollen View Post
.

Agents will tell me I can get more for it than I can. That's how they work in this area. So I can get a CMA, but I might be better off doing my own.
If an agent tells you they can get more tell them if they bring you that "more" full price offer you will sell, otherwise they are wasting their time. You are the one who decides what to sell the house for, but you better hope it appraises for the higher price.
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