Real Estate ? What would you do...

iVillage Member
Registered: 11-13-2003
Real Estate ? What would you do...
14
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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Avatar for me_n_my_gals
iVillage Member
Registered: 03-26-2003
Tue, 11-21-2006 - 7:51am

Hmmmm.....such a dilemma!

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iVillage Member
Registered: 01-31-2006
Tue, 11-21-2006 - 8:44am

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

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iVillage Member
Registered: 10-13-2002
Tue, 11-21-2006 - 9:08am

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!!!!!!

iVillage Member
Registered: 03-27-2003
Tue, 11-21-2006 - 9:56am

Speaking from someone whose looking for a home.

iVillage Member
Registered: 01-06-2004
Tue, 11-21-2006 - 11:17am
I say go for it.
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.

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iVillage Member
Registered: 05-11-2006
Tue, 11-21-2006 - 11:37am

Do you have a realtor/friend in the business you could bounce these ideas on??

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iVillage Member
Registered: 11-13-2003
Tue, 11-21-2006 - 12:24pm
LOL Rhonda. The Home Depot

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iVillage Member
Registered: 11-13-2003
Tue, 11-21-2006 - 1:28pm
thanks everyone for all your replies. Dh was adament that we should list when the neighbours do, but I wasn't overly sure. Anyway, things with the bank went very well this morning, so things are looking good. (assuming the home is still available!) we are meeting with the realtor this evening, and I think I want to put an offer in. Sorry, but you all are going to get very sick of me talking about this over the next while lol!
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iVillage Member
Registered: 01-31-2006
Tue, 11-21-2006 - 1:32pm

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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iVillage Member
Registered: 11-13-2003
Tue, 11-21-2006 - 1:57pm
I love House Hunters as well. You know the host of that show, I think her name is Suzanne Whong or something...did you know that she is a comedian? I was shocked when I heard that. Who would have thunk it lol.
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