I’m looking to relocate with my family from NYC to Houston.
We’re currently in an option period for a house, selling at 280k. Inspection brought up a lot of small issues, but structurally the place seems sound. It was built in the early 70’s
The bathrooms and flooring really need to be redone. They’re in bad shape aesthetically . I’ve been quoted 30 – 40k for that.
My wife and I really like the natural lighting and the backyard, it’s hard to find that in the area we’re looking into. (Bray’s Oaks, we need to live near an orthodox jewish school ) But…. we really don’t like the idea of putting that much cash into the property from the get go. We’re draining our savings. We’re lucky if it even appraises at 280k.
The market is so out of whack, I’m worried that if we wait for something better, that doesn’t need as much work, we’ll be outbid, or… it won’t have the backyard space we’re looking for.
I don’t know the market that well in this area of Houston, and I’m worried that if we back out we’ll really regret it. I’m also really wary of sinking too much money into a place.
Honestly, I’m thinking of just renting for 6 months, getting a better feel for Houston, and then approaching this decision with more confidence in 6 months time, even if I have to pay more.
Looking for advice….