Here’s my situation. I delayed buyinging in early 2020 to see if the pandemic would lower prices. Obviously a big mistake. Then housing dried up. I was sitting pretty with a huge 20% down payment ready to go and then there wasn’t much to buy. I bid on 3 houses and lost out on them all. Now everything is so much more expensive and every house for sale is kind of in shitty condition bc there’s no incentive to fix anything up to sell bc the prices just keep going up and keep getting bidding wars.
I have reached a breaking point where I am buying a house that is the most expensive per for square foot in the neighborhood and definitely the ugliest and oldest yet. Great yard and quiet street though.
I already hate the house itself and I haven’t even closed on it, but I just don’t have any better options so I’m buying it.
I sold my previous home last spring expecting to buy in the summer of 2020. Then Covid hit and I have been living with my parents for over a year now. While they are exceptionally wonderful and we love each other very much, I am more than ready to regain my independence. I considered renting, but I feel renting is a waste bc prices aren’t coming down anytime soon so I might as well buy now bc this area is where I’m staying. I have been waiting for over a year for good choices to pop up, but they just keep getting more and more worse and more and more expensive.
I can make the house into what I’d like, but it’s going to take 100k to get it to the same condition of houses that sold for the same price just 6 months ago. And I don’t know if I’ll ever be able to afford that. It’s not in disrepair, it’s structurally sound and everything works, but it was a lot of patch jobs and poor design choices. So everything was fixed with cheap quality work and poorly executed DIY cosmetic changes.
Is anyone else in the same position?
I feel like a brat that I’m complaining about being lucky enough to afford a house in an area I want to live, but the house itself is just ugly, badly taken care of, and the most expensive house per square foot yet.
I’m going through with it, but I secretly hope the seller screws the deal over somehow.