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I understand your frustration. One of my sons lived in a town home development. We couldn't even visit because of lack of parking anywhere near his home. We'd have to park on the major road leading into the development 6 blocks away or double park and hope nobody hit us or the cops didn't ticket us.
In your case, I'd do the math. See how much you stand to lose if you sold now and could afford a home in an area better suited to your needs with a driveway or parking pad. Maybe the reno's you did would raise the price of your home? Not having a parking space is a pain in the butt but as others have said, have your groceries delivered, but I'm taking into account that you don't feel safe when you're walking home. . Safety is important. Nobody knows how long your neighbors will be working from home so it's a tough decision to make. Good luck! and keep up updated please.
I can have my groceries delivered and have started doing that occasionally so I don't have to carry the heavy stuff. Changing my work hours isn't an option, unfortunately, though I wish it were. The pandemic has led to increased crime downtown, and I am not always feeling very comfortable walking several blocks from my car to my house at night.
Why not get a cart that is foldable to put in trunk of car, or.A Foldable wagon So you can put groceries in it making it easier on you
I would look around the neighborhood and see if you could rent Space in someone’s driveway. The longer you can stay in it the better off you will be financially.
I bought a house 11 months ago in a city I relocated to due to my job (rented an apartment for about a year before buying). I had about 40K of renovations/updates done right after closing, mostly to the kitchen and master bath. I had the work done while I was traveling for my job, so didn't actually start living in the house until afterward. Well.. turns out I really do not like living here. The house is in a downtown area and I didn't realize street parking would be such an issue. I can rarely park outside my house and generally have to park several blocks away. A lot of people seem to rarely move their cars due to working from home (Covid), which may explain why it never seemed like parking was an issue during the initial visits to the property before all this started. I don't like having to carry groceries so far, or walk home from my car in the dark (I still have to commute to work, and get home pretty late). It might seem like a small thing, but the parking situation is driving me nuts.
I know I should have thought harder about this before purchase (this is my first house). Off-street parking was actually on my list of "must-haves", and I guess I compromised because I otherwise liked the house / location and I let myself be swayed by my realtor. There always seemed to be plenty of easy parking out front during my house visit trips. It is not an option for me to add a driveway due to the property layout.
I am not really sure of the best path forward. If I sell now, I don't think I will get back the full cost of the renovations and will be out realtor/closing fees. I also guess I would have to consider capital gains tax (though with the cost of improvements and fees, I would probably show a loss anyway). There are not many properties on the market in my area right now and they seem to be selling fairly quickly, so it may be a good time to sell.
I could also rent the house and probably cover the mortage/expenses for it that way, but being a landlord is not very appealing to me.
Anyone have a similar situation where they sold (or considered selling) a house very soon after buying it and care to share their story? Any advice for my particular situation is also appreciated.
One lesson to be learned here is not to invest in major renovations until after living in a house "as is" for a while; you may decide you can live with the property as it is OR (as you did) decide you don't want to live there at all! Personally, I wish I had rented out my former house instead of selling it and just lived in this one for six months or so on a trial basis. It didn't take long for the novelty of the new location (downtown, also) to wear off and for me to realize I had a higher quality of life in a more rural setting, but too late then.
I think it's ridiculous that we make the largest purchase of our lives without so much as a "test drive," and I'm surprised it doesn't go sideways more often than it does. Mostly, I think we all just make the best of it. That's what I'd recommend for you, especially after making such a huge investment in renovations, unless you think you can sell it for more than you've put into it. If so, wait it out two years so you won't pay capital gains taxes.
Exactly how far from your front door do you have to park? The collapsible cart is a solution re: groceries, but it sounds like walking home in the dark is a greater concern. Do you feel the neighborhood is unsafe and you're in danger doing so?
The local crime rate is, sadly, another factor we have to consider when choosing a house.
Last edited by otterhere; 09-14-2020 at 09:35 AM..
Not everyone is cut out to live in the city. It goes over my head when people complain about parking because I've never minded having to walk a bit extra. As a woman when alone I just make sure I have pepper spray or mace and am up to date on self defense if the area calls for it. I agree with backpacks, bags and carts for heavy things. If people didn't visit because they were unhappy with the parking we always could find another place to meet. In normal times, cities have all kinds of amenities and restaurants for that. Living within walking distance of a place where patrons can park was a great solution if my guests wanted a quick trip to check out the new renovations. We have lived in 8 different urban areas over 10 years while renovating or investing and have had every permutation of neighborhood and parking its possible to imagine. None of that ever bothered me.
I don't know the OPs location but it sounds like they just aren't adjusting to an urban way of life and are really still dependent on their car. I might take this time to get some exercise and be a little creative about my needs and errands. But if thats just not you, you want a totally different lifestyle, by all means look into selling. You will need to do it quickly....many people are rushing to close deals before the election. If you are still unsure, I would chalk this one up to life experience and suck it up. In the next place you will have a far better idea of what you want.
Trust me, I would add a parking pad if I could. However, the house is on a very narrow lot (so there is no room on the sides) and the historic code in the area doesn't allow parking pads in front of the house. No access to the backyard from the street either, so putting a pad or garage back there isn't an option either.
How is your trash handled? If the garbage trucks can't collect in front of the house, they have to collect in back, no? It's a city so certainly you have trash service of some sort.
How is your trash handled? If the garbage trucks can't collect in front of the house, they have to collect in back, no? It's a city so certainly you have trash service of some sort.
They collect from in front of the house. We put the cans in the grass area between the sidewalk and street, and they pull the cans out between cars and leave them on the street after emptied. Not a great system.
If you have to park far away all the time, people with showings will notice this right away.
Right, if Covid work-at-home is still in effect when you're selling, potential buyers will have the same problem. If I were you, I'd get the market analysis, but if you're not going to recover your investment, I'd wait til Covid's over and see if the parking problem eases up.
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However, the house is on a very narrow lot (so there is no room on the sides) and the historic code in the area doesn't allow parking pads in front of the house. No access to the backyard from the street either, so putting a pad or garage back there isn't an option either.
