To make an offer or Not to make an offer...that is the ??

DH and I went to go look at a townhouse today. Not my optimal situation, but we live in Bergen county NJ and I still work in NY and this area is convenient for his job too. Long story short, everything else in our price range is 500000000 years old, or needs MAJA work.

So....we went to 2 townhouses today.

TH #1: brand spankin new construction....duplex....1300 SF....pool....gorgeous...but tiny and (i think) over priced.

TH#2: HUGENORMOUS....2300sf.....3 bedrooms and an office....gigantic living room, 2 floors....2 1/2 bathrooms.....but........formica cabinets and counters (circa 1980 when they had formica that looked like wood...what do you call that??woodmica??) ANNNNNNNND a woodmica fridge Kitchen needs to be re-done (not emergent though)...but those BATHROOMS!!! hollllyyyyyyyyyyyyyyy crappppinnnnn chhrriiissstt!!!
They need help. The kicker............a random wet bar in the middle of the living room.......reminds me of some tacky bachelor pad from the 80's.
DH and I rarely agree on what needs to be done and when (he agrees work is needed, but always says 'that can wait a little'....but like.....i'd rather hose off outside than ever shower in these bathrooms. They are skivatz and old.......

Idk what to do. He wants to make an offer....i'm nervous. Our parents haven't seen it yet either. Another draw back is there is no pool. I'm nowhere near a beach....i grew up on LI.......a girl needs water! This summer has so far been verrrrrrrry difficult for me.

Wow, two totally different situations.... first off, are these your final two options or is a 3rd option to keep looking?

If these are your two options, and assuming that #2 is either less money or about the same as #1 (could be off there), then all things considered, I'd probably go with #2. If I was buying, I'd really like to get more space and the extra rooms, 2nd floor, all that stuff makes a big difference. Now, I'd only agree to #2 IFFFFF we had the funds to do the immediate necessary renovations (the bathrooms in this case) and if we had a specific plan as to saving the other $ needed for the rest of the renovations.

The thing is that stuff happens, so you would need to be ok with the fact that you can have a schedule, BUT you may not be able to stick to it.

I know the no pool is a negative, but that's something you would use for 2-3 months out of the year and the extra home space is something you'd use and enjoy every single day, you know?

Of course brand new construction would be a draw, but I don't think in this case it'd be enough. We're talking almost double the amount of space in your case!

DH and I were in a SORTA similar situation when looking for an apartment to move into together after the wedding. (We're renting now). We found a BRAND NEW construction 2 bedroom apartment, with cool technology like video intercoms for the building front door inside your apartment, gorgeous kitchen with marble counters, all stainless steel appliances, a (very small) balcony, everything was beautiful. BUTTTT it was TINY!!!! Seriously, the living room would only have fit a sofa or a loveseat and then some kind of stand for a tv. That's it. The 'master bedroom' had a walk in closet, but that was probably cuz nothing fit in the room itself except a queen bed (we wanted a king so it wouldn't have been possible there). The 2nd bedroom was tiny also and we said it would have to be used for when we had guests over to entertain because there wouldn't be anywhere for them to sit in the living room! lol.

So you get the idea. We ended up getting a 1 -bedroom apartment for less than that 2 bedroom but almost double the space! Yes, it's technically a 1 bedroom, but we have an eat in kitchen (with older cabinets etc, but I just put in new floor tiles and painted and it was transformed!), a large living room, nice large bedroom, great closet space, etc. Yes the other place was brand new, but this place is way more comfortable and spacious.

Ok, so I'm sure someone else will have the opposite POV so you can see the other side too!

First, your descriptions are hysterically funny. You could write anti-housing adds or something...

Anyway, based on what you wrote, here's my very humble opinion:

TH1 - too small for the long term and in your view, overpriced anyway. I don't think now is the time that you want to buy a place where the value could go down in the next couple of years and you need to sell because you need more space. It would only be worse if it was overpriced and you paid too much in the first place. Also, if you think its overpriced, trust your gut, you're probably right - it is in fact overpriced!!!! The pool sounds nice though! Maybe you can move somewhere else and just hop the fence at this swanky place when the weather is nice? Lol.

TH2-sounds more promising sans the work that needs to be done and the fact that it's landlocked. If the lack of h2o a deal breaker for you? If so, tell DH that you can't live too far from the water. End of story! If the lack of water is not a deal breaker, I would tell DH that you're not buying unless you redo the bathrooms right after closing. Plan for about 10k for each one that you want to do over after closing.

The state of the bathrooms and the kitchen at TH 2 also give you enormous leverage in making an offer. Everyone knows these (other than acreage and location) are what sell homes. You can lowball on your offer citing the state of the bathrooms and the kitchen.

Finally, can you keep looking? Sounds like you're really looking for a house. Prices are going down (at least on LI). I assume NJ is the same but I may be wrong. Time is really on your side here.

Oh, and I would also wait to take my Mom and Dad before I made an offer on either one ogf the townhouses - even though there would be little that they could say that could change my mind at that point. However there is no harm in getting another perspective on a place. Also, I just know my Dad and he would be totally PISSED if I put in an offer without showing him.

Good Luck... I hope ot all works out.

Another vote for #2.

For many of the reasons that have already been shared. Personally I'd rather a place that has more space than one that has a pool. Plus even though you state it need some major TLC, at least once you do take on the projects you will only enhance what is already there. Good luck with your decision .

thanks girls....you both have very valid points.


In response:


Nah...we don't have a time limit, and we absolutely CAN keep looking. With that said, what we are paying in rent right now, COULD comfortable pay a decent chunk of a mortgage payment....(Our rent anually is over $20K )
We moved into our apartment before we got married so that I could make the transition to NJ and start handling that. (it's not that far from home, about 45 miles...i can see the city from my place...but it's still NJ). Either way, right now we need to stay in this area (Bergen County).

Bergen County =

and it's freakin old! Like realllly really old. So if you don't find new construction, most things are from 1492 and have been recently updated in 1950 lol
There was one house I went to look at with my parents and my father and I were in the LR and we were both slanted in 2 different directions....clearly the foundation was the equivalant of ummmmmmmmm Jell-O.


We both really love this TH (#2) but i'm affraid of the repairs it needs. Neither one of us are exactly geniuses when it comes to this stuff. I have seen some before and after pictures of what people here have done to apts and houses and i just don't ever see us being like that. There are some things we can do...but gutting a bathroom??? I'm a nurse......he's a cop.....where do we even start???? And getting rid of the woodnoleum sounds like it's going to be mucho deniro.......Like i said earlier, that's not a must-do-asap, but the bathrooms....ewwwwwwwww they need to go yesterday.