Real Estate ? What would you do...
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| Tue, 11-21-2006 - 3:58am |
As some may know, dh and I have been thinking of selling our townhome (which we fully gutted and remodeled about 2 yrs ago) and buying a new one. We want a house, but the way prices are here, we are not willing/able to spend half a million and up on a small house...SOOO a newer townhouse it is lol.
Anyway, here's my question. The townhouse complex we live in consits of only 5 units, its small, but nice. The area is being revamped, and more developments are being built, shopping malls are within walking distance, and bus routes are very easy ect. The person that bought unit #3 (the middle one) is almost done renovating it (they bought it to flip it). From what we've seen, it's very similar to what we did to our place 2 yrs ago...same colors, same counter tops (we have ours coming in a few weeks) same renos period.
We first thought that we would wait until they sold to see what they got. then we'd list. BUT, dh was thinking, that what if we wait until the day they list (find out what they are asking,) then list our place the next day for more, and compete.
In our favor, although our renos are 2 yrs old, we have every warranty for things from flooring, to appliances (and everything has been done, dh just had the master bathroom overhauled this past weekend lol).
We have the following that they do NOT have...
we are an end unit,
our yard is about 4 times as big as theres,
we have a fire place (they don't),
we have better sun exposure,
we have the over the range exhust to blow food cooking smells outside (no other place here has that lol...thanks DH),
we have an extra carport (covered)

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Hmmmm.....such a dilemma!
I think it's a great idea to list them at the same time, esp considering yours has more upgrades. I think if you wait until the other one is sold, that's one less potential buyer for yours. What if there's a bidding war on THAT townhouse? The one with the most cash will win it and that person won't be available to elevate the price of yours. Does that make sense?
G/L with your decision.
Erin
Lesley..I agree with Wendy and Erin....the facts are...the housing market has changed....and whatever you can do to get the money you want in the time you want out of your home...you need to do.
P & PT....
Rhonda!!!
BTW...if your dh did all that renovating.....(sp) I am going to go get my DH one of those 1-2-3 books you were talking about yesterday!!!!!!
Speaking from someone whose looking for a home.
If you are going to move anyways, here is the best time to do it. I am sure they will be advertising big time and you can use that to show yours as well.
Good luck.
Do you have a realtor/friend in the business you could bounce these ideas on??
Yay!! That's awsome, Lesley. I'm excited to hear the details, the act of home buying is stressful, but kinda entertaining. Dh and I are geeky and watch House Hunters almost everyday on the HGTV network.
Erin
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