Reply to Feelings about house when you bought it vs. reality

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[quote=Anonymous][quote=Anonymous]Buying and selling is expensive (very) and a pain in the neck. My biggest regret is not maxing the budget the first time to get into the house I wanted in the neighborhood I wanted. Which could have happened if I'd accepted a bit of risk and being house poor for a few years. Then I'd be sitting very pretty now instead of waiting for the great unknown - interest rates falling, so I can sell my dull house that I bought just to get something before the market went crazy. And even then I'd be stuck with a much higher mortgage if I do manage to get the house I always wanted.

That's my gripe. Otherwise house is fine. I never loved it, didn't buy it to love it, but it's comfortable enough and a good neighborhood, so I'm indifferent to it. Just waiting to sell it. But it is a different feeling than had I bought the other house because I wouldn't be waiting to sell it and I wouldn't be measuring every penny spent on the house against the resale potential.

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This.  My husband pushed for this and luckily we purchased at the top of our budget in the desirable neighborhood.  Since then we both have been promoted and make more $$ but the first couple years we were house poor.  We wouldn’t be able to afford the area now even with what we make.

I believe in location.  You can change a home overtime but location is key.  Also people forget to think about the very expensive issues plumbing, electrical, water line.  If you are purchasing an old home that can’t show these items have been updated you need to assume you’ll need to redo/ fix/ update them. It’s very expensive, and not fun like updating a kitchen and bath.  And insurance doesn’t always cover it if it’s age that causes the problem…
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