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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House Hunters Junkie, here, too!!
Anyway, I also, don't believe in big mortgages, if the place you are at is nice, why move, and have a bigger mortgage, but, i don't know if you will be having a higher mortgage. All, i can say is it depends on whether properties in your area will lose value, or will they only go up? If they will only go up, wait. Take your sweet ole time.
arie
Yay, Lesley!! How exciting! I hope they take your offer, you sell your house quick and get your asking price, and everything goes smoothly for you. It sounds to me from all the upgrades you listed, you should get a lot more than what your neighbor does.
Sofia
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