Saturday, April 21, 2007

Buying a House Is a Big Deal

Add this one to the category of "live and learn". Many of you know that we have had our house on the market for over a year. We bought our house in Hurst/Ft. Worth almost four years ago now, and this is one that I would like to have back. We didn't know a lot about our neighborhood beyond the fact that it had a house that we thought was the right size that we could afford.

Now that we have decided that it is time to move on, we face quite a dilemma in trying to get it sold after over 13 months on the market now. We are priced just above our tax value, but there is new development in our area just a couple of blocks away. Mix in a buyer's market, and you get 13 months with a sign in the yard with zero offers.

I was reading Amy's blog entry yesterday, and she described the simple pleasure of having trees in her backyard. We didn't really give a lot of thought to that back when we bought, but we wish we had.

To the first time home buyer, I would offer this. Make sure you know what is important and that any house you are considering doesn't have any potential deal breakers down the road. One thing is certain; selling a house is not like waiting out a lease on a house or apartment. If the right buyer doesn't come along, your wait to move on is not bounded. Buying a house seems like the second most durable relationship that you will enter after marriage. Don't enter it lightly.

Until next time...

1 comment:

Anonymous said...

You're dead on on this one. We were fortunate to have a realtor who made us think, what do you see when you look out your back door and front door. 2 potential houses (one probably bigger and more remodel potential than our current) were nixed because one had a road that dead ended in our front door and the other had power lines and a grocery receiving dock behind it.

great references the relationship it takes when you buy a house.

Also, make sure you get a good inspector. Ours stunk and we got hosed on a few things. (thank God we have a Galen at our church). The inspectors are scared to go into the attic. You DON't BE that's where dangerous modifications lurk and potential big ticket repair items hide.