Buying A Home
gnc0988
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Am I thinking out of desperation or is DH being irrational?
Sorry for the long post...
So we found a wonderful house!!! It's listed at 149k, been on the market since July. The comps in the neighborhood were around $80 a sq foot. This home is 2263 sq feet, so it's listed at $65 a sq.
We made a lowball offer the other day since it needs a lot of cosmetic updates. The seller is putting on a new roof and we offered them $112k, no roof, as is. They countered at 139k and said they are putting on the roof because they already have a contract with the roofer. They said the roof was going to cost them 13k! ( that's a lot on my area but maybe it's a 30 yr roof)
Anyway, the house has a new furnace, new hot water tank, a new roof and a washer and dryer. The appliances included are from the 70s and the broiler on the built in oven doesn't work. It will need new windows eventually (it has on the original windows, but they are not in bad shape and there is no draft I could feel)
Basically it needs cosmetic updates. My husband is a contractor and his brother owns a carpet store so we get flooring at cost. There is hardwood thruout and the master bath I would want to gut it and rebuild it by extending it to the master bedroom closet, and combine the small bedroom next to the master into the master, and build a walk in closet.
Considering we do home construction and renovation for a living, this wouldn't cost us as much as if we hired a contractor. We have the necessary tools and will just need material and our time.
We would have to replace the kitchen appliances as well as cabinets, but can get the cabinets as close to cost as well.
Yesterday we made an offer on another house that's about 250 sq feet less. We offered them 130k, it needs a new ac unit, washer and dryer, flooring in the kitchen and family room, and probably a chimney sweep. The brick patio would need replaced and we would have to build a fence. The kitchen cabinets are salvageable and the carpet in the dining and living room is new. It has newer windows as well. This home would be $65 a sq foot, smaller than the other home, has an older furnace and would need more of the major, more expensive repairs done sooner than later (this house sold after two days on the market, but just showing you a comparison)
Considering the first house has all the MAJOR things as new, and needs basically the same cosmetic updates as the other, does it not make sense to offer 130k for house one with more major updates?
So we found a wonderful house!!! It's listed at 149k, been on the market since July. The comps in the neighborhood were around $80 a sq foot. This home is 2263 sq feet, so it's listed at $65 a sq.
We made a lowball offer the other day since it needs a lot of cosmetic updates. The seller is putting on a new roof and we offered them $112k, no roof, as is. They countered at 139k and said they are putting on the roof because they already have a contract with the roofer. They said the roof was going to cost them 13k! ( that's a lot on my area but maybe it's a 30 yr roof)
Anyway, the house has a new furnace, new hot water tank, a new roof and a washer and dryer. The appliances included are from the 70s and the broiler on the built in oven doesn't work. It will need new windows eventually (it has on the original windows, but they are not in bad shape and there is no draft I could feel)
Basically it needs cosmetic updates. My husband is a contractor and his brother owns a carpet store so we get flooring at cost. There is hardwood thruout and the master bath I would want to gut it and rebuild it by extending it to the master bedroom closet, and combine the small bedroom next to the master into the master, and build a walk in closet.
Considering we do home construction and renovation for a living, this wouldn't cost us as much as if we hired a contractor. We have the necessary tools and will just need material and our time.
We would have to replace the kitchen appliances as well as cabinets, but can get the cabinets as close to cost as well.
Yesterday we made an offer on another house that's about 250 sq feet less. We offered them 130k, it needs a new ac unit, washer and dryer, flooring in the kitchen and family room, and probably a chimney sweep. The brick patio would need replaced and we would have to build a fence. The kitchen cabinets are salvageable and the carpet in the dining and living room is new. It has newer windows as well. This home would be $65 a sq foot, smaller than the other home, has an older furnace and would need more of the major, more expensive repairs done sooner than later (this house sold after two days on the market, but just showing you a comparison)
Considering the first house has all the MAJOR things as new, and needs basically the same cosmetic updates as the other, does it not make sense to offer 130k for house one with more major updates?
Re: Am I thinking out of desperation or is DH being irrational?