Found our home...

Found our home...

We found a home last weekend and went to contract oneday later. We were so afraid that if we waited we would be over bid - like on so many others. However, we had to pay more then we wanted b/c in order for them to go into contract we had to pay what they wanted.
Everyone seems to be so happy with their homes that they purchased. I can't help but feel the home is so over priced.
It's in the town we wanted, RVC - but in needs updating, which we will not be able to afford for a very long time.
If we had paid $40,000 less I'd be thrilled with the house - but when you pay so much I can't help but feel a little upset about it.
I hope that paint can really do wonders!
Won't be going to closing for 4 months so it does give us more time to save which is good.
I hate to sound like I'm complaining - it's just that we are a little stressed about the whole thing. Knowing if your doing the right thing is truly difficult.
I guess only time will tell!

Found our home...Congratulations Junebride

And yes Paint will do wonders so will other little things like simple window treatments maybe getting rid of old carpeting etc. They dont say location,location, location for nothing in the real estate world. Rockville Center is a great town. Im sure you & your Husband will make this house into a wonderful home.

Junebride (This is Long!)

I know how you feel. When we were in the market for a house about 2 1/2 years ago, we were seeing houses that had stacks of bids on them, and well over asking price. One house in Farmingdale had 15 offers and counting. After that, we were truly discouraged and took a little break.

When we got back into it, the very first house we were shown by this new agent already had an accepted bid on it. Boy, were we upset .. that house was nice! Anyway, we liked what this lady had shown us that day .. was definitely THE most promising afternoon of house hunting .. because we didn`t hate anything. Well, she called us two days later with a new listing .. a cape. It was funny because in our first round of house-hunting, we had decided eventhough we think capes have charming curb appeal, they just didn`t seem very practical .. from what we had seen. Well, my then-fiance didn`t really feel like going to see this house, and I didn`t really feel up to it either, but I thought we should go, to at least keep the agent on good terms with us so she would call us so quickly again on the next house.

So we went, and it was like I knew when we pulled up to it .. it just seemed like this one was going to be it (and it was at night!). We walked the main floor first, and as we were heading upstairs, I knew this was it .. before even seeing that the upstairs was the best part!

Since the house had just gone on the market, we were lucky. But because of past experience, we were like you .. didn`t want to lose out. I did not want to get mixed up in bidding wars with other prospective buyers ... not on this house!

When we walked out of the house, the agent just knew .. and we all went back to her office. We had taken seperate cars, so hubby and I had time to talk privately .. and we had decided to offer ABOVE the asking price .. I really didn`t want to lose this house! :)

The agent thought we were nuts! She was telling us not even to offer full asking price ... to haggle a little. But we were so paranoid .. we insisted on going full-price and the sellers accepted that very same night .. about 20 minutes after we left them!

Believe me, my husband has asked the same questions you`re asking. But there`s really no point in doing that. You did what you felt was right. I keep reminding my husband of all the headaches we had while house-hunting, and how everything had multiple offers .. unless the house was garbage, or unless it already had an accepted offer, though some with accepted offers had back-up offers .. just in case the accepted deal fell through.

Real estate is probably the best investment any of us will ever make. When I think of how little my parents paid for their house, and what it`s worth now .. it`s amazing! And while we bought during a strong market, and my husband thinks we overpaid .. we`ve been encouraged recently by learning how much our house would appraise for .. since we`re seriously going to do a refinance. (We attempted one a few months ago, but the rates changed so rapidly, we got discouraged).

As for what the house needs .. don`t worry about that either. Do what you can, as you can. If you start looking around at the house thinking off all the things you want to remodel, redesign, etc .. and start thinking costs .. you will feel overwhelmed. Give yourself time to settle in, then just start making small changes, giving the house your own personal touch.

I remember one night .. I got hung up on the boarder around the kitchen walls. I just couldn`t stand it anymore, and had to hang the new boarder I bought. The project started as though it was going to go real quick, but then became very time consuming .. but I stayed up well into the night to finish .. it was very rewarding! After that, we went and found curtains that matched perfectly .. and we had a 'new' kitchen.

Good Luck & Enjoy!

Found our home...

Congratulations! I know it's stressful and overwhelming, but that will pass. A little pain, a little patience, and lots of love will make it the perfect home for you. : )
Keep us posted!

Congrats!! RVC is beautiful! Best wishes *NM*

Thanks for the encourging words!

Reading your posts has truly made me feel better. Thanks!!!
I really feel we have over-bid for the home and it's hard not to think that you made a mistake.
We like the house but when you have saved for so long, and are paying so much, we both feel we should love the house.
I guess when your buying in a market like this... that's difficult to do.
My next project is Tag Sales!
Again, thank you!

Congrats Junebride!

A little patience and a lot of love! Good Luck to you!!

your price can still go down...

Depending on your engeineer's report. If there is a major item that needs repair/replacement..either the price will go down or they will need to bring it up to code.
So, you never know....make sure you get a reputable engineer!

junebride

i remember you mentioned that you bought a foreclosure list. did that help? because i`m planning on purchasing one.
thanks.

Congratulations!!! You can borrow my

rubbermaids!! LOL :)

Seriously, all the best of luck!!!

Michelle - For. list...

no it wasn't much help. The only way to explain it is it's a full time job. You really have to research this area and it's a lot of work. They only had one home listed in an area that we wanted. You buy the home based on the outside only and it is up to you once you buy it to get them out. This can take up to one year - all the while you are paying the morgage and they can be destroying your home. You can get lucky and I have heard from people who have - but it didn't work out for us... b/c we found something in the meantime.