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I bought a fixer. We had to replace the roof (there were holes), the a/c (didn't work), water heater, garage door, and pump the septic tank just to make it habitable! Couldn't get financing or insurance until those repairs were done so went without it for 2 weeks, it was scary. We tore out all the carpet and refinished the floors, repainted the entire house, removed & replaced all the window treatments, replaced a window, replaced all the light fixtures. We spent $25,000 on NEEDED repairs, and still haven't touched the bathrooms and kitchen. The kitchen has harvest gold cabinets with daisy laminate countertops! It's not a fixer anymore, though. Now it's an updater, as your hubby calls it.
To get a huge "deal" on a house, you have to have cash and a lot of courage. The only deals out there are the houses that need tons of work. Painting and light switch covers and light fixtures are nothing.
Last edited by coastal chic; 11-23-2014 at 08:47 PM..
Question to everyone please answer it's something my husband and I keep going back and forth about
He says we bought an updater. a house that needs updated but with the money we spent which is $113 square foot vs $122 square foot average comps
I say how can we spend as much as we did when we could have got a fixer upper for a lot less. there is no difference between and updater or fixer upper right? he says a fixer upper is usually trashed but this place needs all new everything that is the same thing?
GET OVER THE PRICE PER SQUARE FOOT!!!!!!!
Knock it off. I don't know how your husband puts up with this nonsense every day! We all get it. You hate the house. Well, life isn't always fair. Suck it up, buttercup. It's what you have for now. MAKE THE BEST OF IT! Or be miserable, but stop trying to bring everyone else down with you.
And updated and a fixer are not alike at all. Clearly, you've never seen a real fixer. You can't even get a mortgage with many of them.
ok that makes sense and we Definatly bought an updater, everything is functional and well maintained. some needs replaced very soon but still liveable
I really hope I can come back to this post in 6 months to a year with positive news.
Hopefully that happens. Right now, you're coming across as petulant, whining about things you WANT as opposed to things you NEED. You don't need to make the cosmetic updates to the house; you want to make the cosmetic updates. There's a vast difference between those two.
Everyone has suggested that you live in the house for a bit and see if things change, as well as see a professional therapist to help you understand why you're feeling so high-strung over this purchase. Another poster had a great suggestion, considering the season, that you volunteer at a soup kitchen or the like; maybe then you'll start to appreciate what you do have as opposed to constantly lamenting what you feel you don't.
Probably the best thing you can do, however, is stop posting in this thread about how unhappy you're feeling; every time you post, you're probably winding yourself up further into a more and more negative state. Start spending more time with your family and exploring your new home and neighborhood, and less time posting how miserable you are; doing the former might get you back to being happy again, whereas the latter just keeps you in a negative headspace.
Last edited by berniekosar19; 11-23-2014 at 09:16 PM..
Hopefully that happens. Right now, you're coming across as petulant, whining about things you WANT as opposed to things you NEED. You don't need to make the cosmetic updates to the house; you want to make the cosmetic updates. There's a vast difference between those two.
Everyone has suggested that you live in the house for a bit and see if things change, as well as see a professional therapist to help you understand why you're feeling so high-strung over this purchase. Another poster had a great suggestion, considering the season, that you volunteer at a soup kitchen or the like; maybe then you'll start to appreciate what you do have as opposed to constantly lamenting what you feel you don't.
Probably the best thing you can do, however, is stop posting in this thread about how unhappy you're feeling; every time you pose, you're probably winding yourself up further into a more and more negative state. Start spending more time with your family and exploring your new home and neighborhood, and less time posting how miserable you are; doing the former might get you back to being happy again, whereas the latter just keeps you in a negative headspace.
what is the longest I need to stay? I have been here for 1 month and I want out now. I did buy a house with outdated everything. Carpet, floors, fixtures, pink walls, old kitchen, I only bought it thinking I had $25,000 off the comps to be able to put back into it. I also feel like I picked the house too fast Like I impulses and we paid So much for it and I see houses that are better gojng for less and I want this to just be over with.
No no no. What math is that?
You liked it when it was imaginary Monopoly money?
"Thinking you had $25,000 off the comps"?
WHAT does that mean?
WAIT. YOU thought you were going to get a HOME EQUITY LOAN to do these "updates"? On FAKE equity that wasn't there???
OH...I get it now.
Gurl you missed the entire housing bubble of the past decade. People thinking THAT way caused that problem.
I couldn't understand WHY you were so MAD about "the comps". Now I get it. You thought you were going to go get the house appraised AGAIN for even MORE then take out loans to update that house. But now you can't so you're stuck in the house with no MONEY to do the updating? OK I get it now. NO SOLUTION.
no I never planned to get a loan I thought I got a deal on it so then eventually I would put up to $25,000 I to it and feel good about putting money I to it. I put 20% down otherwise I would have kept some out but that's not what I wanted to do
no I never planned to get a loan I thought I got a deal on it so then eventually I would put up to $25,000 I to it and feel good about putting money I to it. I put 20% down otherwise I would have kept some out but that's not what I wanted to do
STOP! Just stop. You made an emotional decision to buy a house not a business decision as you should have. The one you passed up, the flip house, would probably be causing the same feelings. You'd be looking at the chrome faucets and crying about not getting brushed nickel. The granite would be too busy and the appliances the wrong make. The shrubs in the yard would be in the wrong position and the roof would be the wrong shade of gray. You will NEVER find your "perfect" house - it does not exist.
From what you say, this house meets all your needs, just not all your "wants" today. You knew going into the deal there were changes you'd want to make down the road, so change them as you go down the road.
Forget about the price per square foot - it means nothing! You don't buy a car by the pound and you don't buy a house by the square foot. The sooner you get that out of your mind the sooner you'll be able to start to live in the house and plan on what tweaks you'll make and when.
"You can't always get what you want. But if you try sometime, you just might find, you get what you need." - Sir Michael Philip Jagger, 1968
Well, there is nothing really you can do at this point. You need to wait and when you will list your house you need to male sure your agent will stress out you are moving and this is the only reason why you are selling.
I recently had an argument with one agent you was pushing the price and comparing to recently sold house very similar to house in question and my husband told him - if someone paid $X for a house it doesn't mean there are others who would pay that much.
Just keep in mind real estate market is up and down, and by the time you went under contract that was a good deal, but some time later it might not be the case anymore. As for now change as much as you need to get over your hate for this house and live there.
P.S. I would like sellers lenders to compare prices by sq. ft. because we might get a great deal by going this way
Question to everyone please answer it's something my husband and I keep going back and forth about
He says we bought an updater. a house that needs updated but with the money we spent which is $113 square foot vs $122 square foot average comps
I say how can we spend as much as we did when we could have got a fixer upper for a lot less. there is no difference between and updater or fixer upper right? he says a fixer upper is usually trashed but this place needs all new everything that is the same thing?
I think you are misunderstanding your situation. Although looking at Active Comps (similar properties currently available for purchase) can be interesting, the appraisal relies on comps of sold properties which are then adjusted, up or down, to make those properties similar to the subject property (your house). If you will take some time to look at your appraisal, look at the sold comp properties they used and then look closely at the adjustments they made. For example, there might be a sold property that has already been updated and the appraiser subtracted X thousands of dollars to account for the difference between that house and yours. In other words, if your house had been updated and in the same condition as the comp, your house would have appraised that much higher. As I said before, you paid $1500 less than the house was worth in it's current condition without the updates. That means that updating your house would make it worth more. You seem to think that your house is only worth what you paid whether you update it or not. Your husband appears to be right, and those adjustments in the appraisal will help you see it, I hope.
That's your good news. The bad news is that you paid too much IF your plan was to fix it up and flip it. More good news....that's not what you planned! If you plan to be there for 4-5 years, it makes sense to fix it up for your enjoyment and it will be worth more because of the improvements, too.
1. No one needs to know how much you paid for your home.
2. You buy a home for a place to live not as an investment. As an investment it is not that great of instrument for making money. Houses cost so much to own and operate.
3. Never, I mean never use your house as a piggy bank.
4. After you sign the papers and it becomes yours, forget about how much you made or lost on the deal That deal is done and you do not have any recourse. Signing day was in the past. The future is no longer a part of signing day.
5. Next time you buy something study it out in your mind, pretend lets say that you are in a theater and you are watching you make the decision to buy a home, car, or what ever. See how it plays out as you watch the "movie". Think about what would be the worse possible scenerio and the best possible outcome. Proceed from there.
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Like I impulses and we paid So much for it and I see houses that are better gojng for less and I want this to just be over with.
