how much is reasonable for this new home? (Millcreek, East Millcreek: mortgage, lawyer)

[SouthernBelleInUtah]

Originally Posted by hueimo

kwm03160, thanks for taking out so much time to always answer my questions. what motivates you to answer on this forum? it's very nice of you....thanks again. I do know a realtor, but didn't sign any contract with her, she showed us 2 homes when we visited SLC couple months ago...the builder agent said I'll only get the basement built without extra charge if I don't have a buyer agent, so they can save that commission for building the basement....

THey must have built the rough basement b/c the house is finished. They probably are talking about sheetrock, flooring, lighting, etc. I'd buy the house as-is and later have a general contractor build out the basement as you want it. A buyer's agent is always good to have, get them to sign a contract as "buyer's agent" then they are only allowed to represent your interests, not the builder's as well.

You're tlaking about $12K for buyer's agent commission on a $400K home, more or less, and that buys you a lot of sheetrock and paint!

[bijagirl]

I wouldn't live in the Millcreek area, nor would I send my kids to school there. Just personal opinion. Also it's RARE to find a property without a basement in Utah, so I'd walk away from someone that doesn't want to include it in the price. If you don't want to be right in the midst of it I would recommend you look at Davis County or out in South Jordan, Riverton, Herriman, Bluffdale, Draper...etc. There are so many new houses in these areas with a great school system, and many of them are investors that want to get them sold. So you may have the basement unfinished when you move in, but you should be able to get a house for $350,000 or less with four bedrooms with no problem and getting the basement finished would be about $20K - $30K depending on the space. Our basement was only about 800 square feet and we did a bedroom, office, new laundry room (so that we can convert the current laundry into a mudroom), a full bathroom, closets and a movie room with surround sound for only $26K. So keep your options open and keep looking.

Best of luck

[Lmejh]

What's wrong with Millcreek?

[hueimo]

Originally Posted by bijagirl

I wouldn't live in the Millcreek area, nor would I send my kids to school there. Just personal opinion. Also it's RARE to find a property without a basement in Utah, so I'd walk away from someone that doesn't want to include it in the price. If you don't want to be right in the midst of it I would recommend you look at Davis County or out in South Jordan, Riverton, Herriman, Bluffdale, Draper...etc. There are so many new houses in these areas with a great school system, and many of them are investors that want to get them sold. So you may have the basement unfinished when you move in, but you should be able to get a house for $350,000 or less with four bedrooms with no problem and getting the basement finished would be about $20K - $30K depending on the space. Our basement was only about 800 square feet and we did a bedroom, office, new laundry room (so that we can convert the current laundry into a mudroom), a full bathroom, closets and a movie room with surround sound for only $26K. So keep your options open and keep looking.

Best of luck

thanks for the info. what's a mudroom? and yes, what's wrong with millcreek? I didn't even know that this house is in the millcreek area..

[hueimo]

Originally Posted by bijagirl

I wouldn't live in the Millcreek area, nor would I send my kids to school there. Just personal opinion. Also it's RARE to find a property without a basement in Utah, so I'd walk away from someone that doesn't want to include it in the price. If you don't want to be right in the midst of it I would recommend you look at Davis County or out in South Jordan, Riverton, Herriman, Bluffdale, Draper...etc. There are so many new houses in these areas with a great school system, and many of them are investors that want to get them sold. So you may have the basement unfinished when you move in, but you should be able to get a house for $350,000 or less with four bedrooms with no problem and getting the basement finished would be about $20K - $30K depending on the space. Our basement was only about 800 square feet and we did a bedroom, office, new laundry room (so that we can convert the current laundry into a mudroom), a full bathroom, closets and a movie room with surround sound for only $26K. So keep your options open and keep looking.

Best of luck

how's about Holladay?

[SouthernBelleInUtah]

A mudroom is generally the room just inside the door to the outside, usually the back door, where you take off your boots and hang your coats. The mud comes from the boots. I haven't seen too many mudrooms in SLC houses-well, actually none-maybe b/c we don't get a lot of muddy, slushy snow and certainly not a lot of rain.

[Lmejh]

Anyway, nothing is wrong with Millcreek. Didn't you say you bought a home on 1300 East hueimo? That is considered Millcreek. Holladay is the same, and as it is everywhere on the east side of Salt Lake, the farther east you go the more upscale the area is.

[hueimo]

Originally Posted by Lmejh

Anyway, nothing is wrong with Millcreek. Didn't you say you bought a home on 1300 East hueimo? That is considered Millcreek. Holladay is the same, and as it is everywhere on the east side of Salt Lake, the farther east you go the more upscale the area is.

it's 3540 S on 1300 E. we didn't buy it, because we just moved here for a month, still not sure about the areas, schools and market...

[drsevrin]

I also have to add- there is nothing wrong with Millcreek. I grew up in Millcreek and after spending a number of years living out of state and elsewhere in the valley, settled back in Millcreek. The schools in Millcreek in my personal judgment are as good or better than what you'll find in South Jordan, Draper, West Jordan, etc. Olympus and Skyline High Schools are very highly regarded, as are some of the elementary schools - particularly Eastwood and Canyon Rim. Others may be as well - that's just my anecdotal experience. The Stepford-suburb neighborhoods like Draper, South Jordan, Herriman, etc. are far too sterile for me . . .

[wamamma]

Originally Posted by SouthernBelleInUtah

THey must have built the rough basement b/c the house is finished. They probably are talking about sheetrock, flooring, lighting, etc. I'd buy the house as-is and later have a general contractor build out the basement as you want it. A buyer's agent is always good to have, get them to sign a contract as "buyer's agent" then they are only allowed to represent your interests, not the builder's as well.

You're tlaking about $12K for buyer's agent commission on a $400K home, more or less, and that buys you a lot of sheetrock and paint!

I agree with SoBelle. You really should get a buyer's agent, unless you can find another way to pull comparable sales on that street in the last six months. The market determines the price, not just the location. Supply and demand.... I live in a neighborhood where everyone has decided to sell. I would say 1 out of every 3 homes are for sale. That dictates the price as well as the size and quality of the home. Just a few blocks over, someone might get more for the sale of their home than they would on my street because so many are available. Therefore, it would be very difficult to get a good opinion from this board as to the value of that home. One or two streets away could change a price by tens of thousands of dollars.

Don't let the seller's agent bully you into not getting your own agent. You should really find out what they mean by "finishing" the basement. I agree with SoBelle, it is probably just a roughed in basement. Which means studs, roughed in plumbing, roughed in electrical. There is a certain amount that must be roughed in, dictated by code, anyway. I doubt that they mean they will sheetrock, mud, tape, and install lighting for that price. It just seems you would be better off with your own agent, even if that means they will not "finish" the basement.