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Here's my dilemma... I have a very specific architectural style (mid-century modern 1950-1970) that I am looking for in a specific area. Since these aren't on the market often, should I sell my place and rent until I find one? That way I would be ready to immediately make an offer. On the downside, I'd have to move TWICE or at least move most of my stuff to storage while I'm renting. I would also have to find a place without a long lease. But I also don't want to find the perfect house and miss it because I haven't sold mine.
I think my place will sell reasonably fast but you never know. It's one of the lowest priced properties in a hot neighborhood. The bigger problem is that I've really only seen one acceptable house in the area I like in the last 5 months. I noticed you are in Denver...I'm talking about Evergreen.
If you are truly dedicated:
1. I would suggest you scout out potential properties
2. Write down the addresses
3. Send the owner a letter saying you would be interested in buying; to call you when they could be interested in selling.
4. Repeat every 3 or 4 months
Thanks! I've driven around and found some I like and was thinking about doing that. I'm not putting mine on the market until February/March so maybe I'll start doing that around January. A lot of the places I like seem like haven't been touched since 1970 so I'm guessing they may be the original owners who are now in their 70's or 80's. Of course they may never want to leave...can't say I blame them.
Glad to see that their are others out there with cool taste in houses! I have a mid-century in Charleston, SC and they are getting harder and harder to find. Very cool architecture.
We just did exactly what you're thinking of. We didn't want to deal with the stress of trying to coordinate selling and buying at the same time, with all of the potential issues. We sold our house in June (priced right and very lucky, sold in a day, closed in a month!), and moved into an apartment with our 4 year old and 2 cats, with a six-month lease. I would highly recommend going this route! A bunch of our house stuff is in a local storage, and our apartment is great--big rooms, laundry in the unit, large balcony. After owning a house for so long, the feeling of freedom in renting is actually kind of refreshing...kind of makes me feel young and carefree. As far as house-hunting now, realtors are practically drooling when they hear we have nothing to sell. All in all, for us it was a fantastic decision.
I've been renting over a year and found it to be the best decision for me. I've placed a few offers and am not worried about interest rates, rebounds, or any of the other reasons people suggest "now is the time to buy". Never be in a hurry to buy a house in todays market.
Thanks for all of the advice. I think I will probably plan to rent if I haven't found the perfect house by the time my place sells. That way there is no pressure. If I can find a month-to-month lease it would be ideal but even 6 months wouldn't be too bad. And you're right "inthepines", the mid-century houses get snapped up quickly these days!
I've been renting over a year and found it to be the best decision for me. I've placed a few offers and am not worried about interest rates, rebounds, or any of the other reasons people suggest "now is the time to buy". Never be in a hurry to buy a house in todays market.
Same here. I've been renting for 18 months but in a declining market that has to get worse before it gets better (as the unemployment rate is getting worse and the banks are finally unleashing all the foreclosures they have been holding back). I think you are better off investing overseas where currencies aren't plumetting and renting while waiting until we are done bottoming out.
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