House Hunting: When Do You Start To Settle? (square footage, agent, housing)

[Jedi5]

Been house hunting for about 2-3 months now and we are still at nothing.
If it's not one thing we don't like about a house then it is something else.
If a house doesn't have a train in the back yard then it backs up to a high way. It is not on a corner lot then it is outside our desired commute.

I know we're not being picky and the "perfect" home is not out there, I know that. And like many here, we have our must have and wish list.
On our must have: 10-15 minute commute to work, newer home, and decent size back yard.

We found 2 houses that had our must have. But guess what... One had a train that ran right in their backyard and the other backed up to the highway.
A few others that we liked were out of our desired 10-15 minute commute by another extra 10-15 minutes. Now that might not sound like a lot to some but in these Chicago winters... those extra 10-15 minutes could be an additional 2 hrs on the road.

So my question to all is...

At what point did you guys settle on less then what you wanted?
For example you went from 3000sqft to 2500sqft. Or maybe that 3 car garage went to a 2 car garage.

[Gretchen B]

Absolutely do NOT settle when it comes to location, especially a train or a highway. Resale will be close to impossible. However a little further from work is something specific for you personally, and you'll have to weigh that carefully.

Have you thought about looking in a slightly higher price range? I'm not trying to push you above your comfort zone, but if the Chicago housing market is anything like most parts of the country, many sellers are willing to look at an offer. In fact, here lately I've been very careful NOT to exclude a home that's a little above our "top dollar" price, especially if it has everything my clients are looking for. I have been shocked to sometimes find that a couple months later the seller lowers the price to well below where we'd been looking.

In this market, I feel that most sellers would prefer to have an offer, even if it's low, versus no offer at all. Of course, I'm still talking within a fair market value range. A good buyers agent will run comps to present with the offer showing that the buyer is making a reasonable offer.

My philosophy is to find the house you like best and make your offer. The worst that can happen is that you'll have to "settle" for something you like less, but at least you gave it a shot . . . and sometimes you do end up with the house you really like instead of your 2nd choice.

[Racelady88]

I have been looking for 19 months. I refuse to settle. I know what I want, and I know it is out there. Your house is out there too.

[Smokipenelope]

I'm in the process of possibly doing the same thing - but as I "settle" I'm getting some things I was not expecting.

Where I am settling is buying now vs. later (we had wanted to wait for new construction to be built, but with the market the way it is now who knows if they will ever start) so I am looking at a resale in the same community. I don't even know if I'll get it if I make an offer, but if I did I would be settling on an interior unit instead of an exterior, and a smaller living space then I would have liked. In exchange I get an extra bedroom and a laundry room, so I am hoping it all works out for the best (if it is even happens).

[gizmobizmo]

Originally Posted by Jedi5

Been house hunting for about 2-3 months now and we are still at nothing.
If it's not one thing we don't like about a house then it is something else.
If a house doesn't have a train in the back yard then it backs up to a high way. It is not on a corner lot then it is outside our desired commute.

I know we're not being picky and the "perfect" home is not out there, I know that. And like many here, we have our must have and wish list.
On our must have: 10-15 minute commute to work, newer home, and decent size back yard.

We found 2 houses that had our must have. But guess what... One had a train that ran right in their backyard and the other backed up to the highway.
A few others that we liked were out of our desired 10-15 minute commute by another extra 10-15 minutes. Now that might not sound like a lot to some but in these Chicago winters... those extra 10-15 minutes could be an additional 2 hrs on the road.

So my question to all is...

At what point did you guys settle on less then what you wanted?
For example you went from 3000sqft to 2500sqft. Or maybe that 3 car garage went to a 2 car garage.

Maybe you should make a list of things you want in a house. Include everything. When you finish, make a separate list of items from the first that are MUST-HAVE's. Location should be number one, followed by what is important to you. Is an updated kitchen more important than storage space? Maybe a pool would be nice but a three car garage would be better.

There are certain things about a house that either can't be changed or would be very costly to change. For my list of must have's, I would concentrate on things that would be hard to improve upon.
1. Lots of storage space.
2. Big closets in the master bedroom
3. A good sized master bathroom
4. A 3 car garage

Certain things can be changed or improved upon. If a house has the square footage, location, number of rooms and storage you want, the other things can be changed to adjust to your liking.
1. Rooms can be painted or re-carpeted in colors of your choosing.
2. Bathrooms and kitchens can be updated
3. A fence can be installed later

Keep looking. You'll find the house for you.

[kevcrawford]

As some have already said, don't settle on location. You might want to reconsider the "newer" home criteria. My home is 28 years old and the reason I bought it is because it's constructed much better than a lot of these production homes out there. Homes built longer ago were built to last. Now, production home builders (for the most part) are trying to knock out as many as possible and move on. You can find some very updated older homes and be perfectly happy.

[Jedi5]

We've looked and looked at homes within the time frame we'd like for our commute. The homes we really liked, had something major we didn't like. The homes with nothing major... well, they are just so outdated. Something out of the Brady Bunch. I swear I keep waiting for Alice to come out and say dinner is ready.

No, if we were to settle, it is going to be on our commute. All the nicer homes with what we are looking for are outside our commute time frame.

Or just buy and older house that comes with a maid... Alice was a nice lady, right?

[Smokipenelope]

Would either of your companies be flexible on your working hours to allow for a better commute? A girlfriend of mine was looking at a 2 hour commute with how far outside of the city she moved, but by changing her hours half an hour she missed the worst of it. I believe she had to agree to check email when she got home just to make sure she didn't miss anything, but overall she has a much better quality of life because of it.

[dogmom]

Is the perfect house out there?? I doubt it, would definitely make a MUST HAVE list..Location is first, personally I would rather have an already lived in home as opposed to brand new...you can always change colors, carpets, paint, etc..you can update landscaping, but the location is what matters.

Whatever you find, as long as it has 'good bones' then you have a good start.. Good luck!

[scone]

IIWY, I'd focus on the lot and the neighborhood-- the house can easily be changed, but trains and nasty neighbors will always be there, and that will bother the next buyer when you resell.