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Old 09-29-11, 07:15 AM   #1
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Sigh...Disagreement with the Spouse over Housing

So my wife and I were out looking for a new place over the weekend. With the youngest gone and the oldest hopefully leaving soon, I was thinking of a small two bedroom fixer upper. Maybe a little cottage,

Then we happened to pass this house.

http://www.realtor.com/realestateand...ex=GA539480526


And my wife fell in love even before she saw the gorgeous interior. Now I'm a tightwad and my wife's a bit of a spendthrift, so you can imagine where this conversation went. The only problem for me is that my wife is somewhat right, it's a beautiful house in the perfect location, but there are so many better deals out there.

Then the cheapness kicks in, this house was purchased on April for 61,000, based on my estimates they probably put 50 to 70K into a total remodel but even if got it for 190K they would still be making 60K profit from me. I'm not sure I could live with myself if I let that happen.

And my wife is now calling and I bet she wants to talk about the house...sigh.
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Old 09-29-11, 07:22 AM   #2
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That's why you never-ever-ever go to look at a house that is over your budget.

Now you have to sell her down. If the kids are leaving, you don't need a 4 bedroom Mc Mansion. Just look at the yardwork and upkeep that will require. You want a nice house, with low maintenance that will free up your time, not gobble it up.

My recommendation? Pull out of house hunting completely till all the kids are gone. Let things chill. While you wait, have some talks and nail down exactly what you want in a house, and put it down on paper. Cost, square footage, amenities, closeness to bike facilities, nature...
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Old 09-29-11, 07:24 AM   #3
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talking points: who wants to clean 2200 sq ft? granit countertops STAIN. the professionaloly landscaped lawn looks like sh** - just imagine what it would look like with YOU taking care of it! what are the annual taxes? Watch Holmes on Homes & just THINK about all the shortcuts the "flippers" took to mask problems & save money... those things are hidden until they fail. Good luck!
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Old 09-29-11, 07:26 AM   #4
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That's why you never-ever-ever go to look at a house that is over your budget.
Well that's part of the problem, it's well within the budget but I'm too cheap to spend that much when a few neighborhoods over there's a smaller uglier house for half the price. I think you may be right perhaps we need a break from looking.
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Old 09-29-11, 07:28 AM   #5
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Well that's part of the problem, it's well within the budget but I'm too cheap to spend that much when a few neighborhoods over there's a smaller uglier house for half the price. I think you may be right perhaps we need a break from looking.
She'll win eventually.....just get it over with and concede.
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Old 09-29-11, 07:48 AM   #6
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In a similar dilemma. My aunt passed away almost a year ago, and now my cousins are selling her house. It's huge (more than we really need), in nice shape and in a great neighborhood. The only reason it's even tempting is that my cousins are selling it cheap just to be done with it, so I could pick it up for about 1/4 less than what it's probably worth.

The flip side is I would be back into a 30 year mortgage when I only have 5 years left to pay on my house. I don't really like my house and it needs a lot of work, but not having a house payment is compelling.

So far my practical side is winning, but I must admit it's a struggle.
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Old 09-29-11, 07:58 AM   #7
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Any home can be made beautiful. If you were to buy the cottage, how much money would be available to remodel/decorate to her taste and would she like to manage the projects? (I almost wrote "how much money would you let her have? ... and my "spidey sense" went off the charts! Something like that would be life threatening - and justifiably so.) Would it be worth it? Or is she just thinking about a larger home for the future grandkids?

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Old 09-29-11, 08:04 AM   #8
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Any home can be made beautiful. If you were to buy the cottage, how much money would you let her have to remodel/decorate to her taste? Would it be worth it? Or is she just thinking about a larger home for the future grandkids?
My wife is the kind of person who wants to buy a house and have me immediately start tearing it apart, she's more of the move in and have to do as little as possible. We're pretty much complete opposites in this respect.
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Old 09-29-11, 08:05 AM   #9
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She'll win eventually.....just get it over with and concede.
this...
and we can both throw eachother a house warming party
I just got an offer on my house in Johns Creek...just need to convince the wife to accept it.
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Old 09-29-11, 08:06 AM   #10
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this...
and we can both throw eachother a house warming party
I just got an offer on my house in Johns Creek...just need to convince the wife to accept it.
I hope you made a tidy profit.
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Old 09-29-11, 08:08 AM   #11
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House is a bargain! In Portaland Oregon we spent 325K and it is a cheap son of a batch in comparison, you get 1,000 more square feet more than us! I'm so jealous! And you probably won't be spending friggin 300 dollars (3.8 APR) a month on property taxes!

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Old 09-29-11, 08:10 AM   #12
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I hope you made a tidy profit.
nope...this is the older house...will actually be losing about 20g's....but 20/16 is 1250/yr....a lot cheaper than rent would have been. I stand to make a killing on the new house if prices ever go back up. Had a RE agent look at it and attempt to market it even without a contract. At the price he was wanting to sell that one at, I'd be in the 6 digit profit without even getting the C.O. yet.
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Old 09-29-11, 08:18 AM   #13
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nope...this is the older house...will actually be losing about 20g's....but 20/16 is 1250/yr....a lot cheaper than rent would have been. I stand to make a killing on the new house if prices ever go back up. Had a RE agent look at it and attempt to market it even without a contract. At the price he was wanting to sell that one at, I'd be in the 6 digit profit without even getting the C.O. yet.
Based on the location you're certainly right. That's the thing about this house. Just 1.5 miles from the Marietta Square in a very desirable area. When the market picks back up it'll be a hot property.
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Old 09-29-11, 08:23 AM   #14
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House is a bargain! In Portaland Oregon we spent 325 and it is a cheap son of a batch in comparison, you get 1,000 more square feet more than us! I'm so jealous! And you probably won't be spending friggin 300 dollars (3.8 APR) a month on property taxes!
And check out it's location just 1.5 miles from the historic square and the court house. I could sleep late and still ride my bike to court.


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Old 09-29-11, 08:29 AM   #15
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talking points: who wants to clean 2200 sq ft? granit countertops STAIN. the professionaloly landscaped lawn looks like sh** - just imagine what it would look like with YOU taking care of it! what are the annual taxes? Watch Holmes on Homes & just THINK about all the shortcuts the "flippers" took to mask problems & save money... those things are hidden until they fail. Good luck!
^ This.

Although the countertops look more like the granite/resin composite, which won't stain. Also, that looks like a lot of house to buy after the kids are gone. I would have liked it when the kids were home, but can't see buying into it. I'd be more interested in some land for a serious garden than a house. But that's just me.
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Old 09-29-11, 08:29 AM   #16
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If you have the means, I'd grab that house up. It's in a great location, it's a nice looking house, and it would make your commute a breeze.
What's not to like?
You even have room for when the kid boomerangs after college.
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Old 09-29-11, 08:31 AM   #17
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In a similar dilemma. My aunt passed away almost a year ago, and now my cousins are selling her house. It's huge (more than we really need), in nice shape and in a great neighborhood. The only reason it's even tempting is that my cousins are selling it cheap just to be done with it, so I could pick it up for about 1/4 less than what it's probably worth.

The flip side is I would be back into a 30 year mortgage when I only have 5 years left to pay on my house. I don't really like my house and it needs a lot of work, but not having a house payment is compelling.

So far my practical side is winning, but I must admit it's a struggle.

Any chance you could squeeze a 15 year mortgage? Interest rates tend to be a bit lower, payments not all that much more...
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Old 09-29-11, 08:33 AM   #18
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You even have room for when the kid boomerangs after college.
Please no.
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Old 09-29-11, 08:34 AM   #19
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Please no.
Sorry....I just believe in preparing for the worst.
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Old 09-29-11, 08:35 AM   #20
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It has a kitchen sink that looks like a kidney! Pass! But, it has a totally clear, huge shower door. Yummy. Tough one....
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Old 09-29-11, 09:38 AM   #21
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Well that's part of the problem, it's well within the budget but I'm too cheap to spend that much when a few neighborhoods over there's a smaller uglier house for half the price. I think you may be right perhaps we need a break from looking.
How much would you spend fixing up the smaller, uglier house? How long would it take? How do you feel about living without a bathroom or kitchen for several months?

I did a pretty comprehensive remodel on my current house when I bought it several years ago. I don't know if I'd want to live through all of the dust, dirt and having strange workmen roaming around the house again. Remodeling always has issues come up that you didn't expect. I had to redo electrical wiring and drywall that I wasn't planning on because a previous owner had cut corners when they did work on the house.
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Old 09-29-11, 09:45 AM   #22
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How much would you spend fixing up the smaller, uglier house? How long would it take? How do you feel about living without a bathroom or kitchen for several months?

I did a pretty comprehensive remodel on my current house when I bought it several years ago. I don't know if I'd want to live through all of the dust, dirt and having strange workmen roaming around the house again. Remodeling always has issues come up that you didn't expect. I had to redo electrical wiring and drywall that I wasn't planning on because a previous owner had cut corners when they did work on the house.

Well I'm pretty handy but I'm also pretty cheap and pretty busy, so a serious remodel would probably take years as I would insist on doing everything I could myself. I see your point.
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Old 09-29-11, 09:48 AM   #23
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Good luck with your decision...at least you have the money, which gives you options...nicer than not having any!


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House is a bargain! In Portaland Oregon we spent 325K and it is a cheap son of a batch in comparison, you get 1,000 more square feet more than us! I'm so jealous! And you probably won't be spending friggin 300 dollars (3.8 APR) a month on property taxes!
Heh...jealousy is relative; the taxes on moderately priced homes here is more like freakin' $600-700/mo...it's all relative, I guess.
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Old 09-29-11, 10:07 AM   #24
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If you have the means, I'd grab that house up. It's in a great location, it's a nice looking house, and it would make your commute a breeze.
What's not to like?
You even have room for when the kid boomerangs after college.

woops... didn't even think about that.
maybe you DO want the bigger house
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Old 09-29-11, 12:18 PM   #25
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The other thing to think about given that the brats are just about all flown the nest is that you are reaching the age where climbing stairs all the time gets to be a pain in more ways than one. It looks like given the style of the house the bedrooms are up stairs and the laundry is down, this leads to having to climb those stairs more than once or twice a day. I, for one, am thinking a single level abode will be a good thing in a few more years when I get even older than I am now. The other thing as a couple of posters have pointed out this may be a flip and you need to find a home inspector to give it a once over ala Mike Holmes. If you don't know who he is look him up and watch a couple of his shows, they are educational. I know a couple of inspectors who say he does go a little overboard but has definately open the eyes of the buying public and has helped to thin out the herd of fly by night inspectors.
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