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Urgent-Too many confusions on finalising a home.

Discussion in 'General Discussions - USA & Canada' started by Yahooo, Jul 22, 2013.

  1. Yahooo

    Yahooo Silver IL'ite

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    Hi friends,

    As I said the other day that we had almost finalised a home but had to back off because the schools rating dropped down badly.

    We are again in the middle of a confusion.

    There are two good schools here. One has got 10/10 rating which is the best and the other one had 9/10 rating and this year it has dropped down to 7/10.

    We went and looked at three houses this weekend.

    1. 1960's built, fully wooden(including the furnitures and floors(which they are going to take it with them anyways)), 2300sft, has a beautiful big pool, the house has a large living room, family room, dining room and kitchen but the bedrooms are really small like 12*14, 9*10, 11*12, has a lot of perennial plants, the outside looks beautiful with many trees and plants. It is almost 0.69acres. The location is nice. Very close to shopping, hospitals and this 10/10 school is right across the street. Price is 280K

    2. 1990's built, 2600sft, doesnt have a garage, wooden floors, 0.25 acres, all the rooms are of decent size. The area is landscaped well. This one has a pool too. This home comes under the 7/10 rating school. The area is good. Price is 270K

    3. 1980's built. It is an attached condo. 3BHK. Rooms are of decent size. Doesnt have a garage. Very close to shopping, movie theatre, my husbands office is just right across the street. This home comes under the 10/10 school district and this one has a condo fee of 320 dollars. The price is 168K

    Now here comes the confusions. My husband and I are really confused not knowing what to do and which one to choose. We also want to choose one among the three because we have gone through all possible websites and we ahve seen a lot of homes and we feel only these three homes are left in the market in the area and also which suits our budget. We are not willing to buy a home for more than 300K because we just have a single income. Actually when we started our search, our budget was just 175K but if we want a home in the 10/10 rating school then we need to spend atleast 270K, thats how our budget increased.

    1. We loved the first home. The outside looks beautiful. But we are worried that it is 1960's built. All our friends are buying homes that are built in 2012 and 13. Does years really matter as long as the home is well maintained. Can we not sell a home that is 1960 or 65 built after another 15 years? The home has a pool. I feel it is really difficult to maintain a pool. Needs a lot of money and time. My husband and I are lazy people. The bedroom sizes are small. Does the matter a lot. Can we not sell it because of this reason? Is an independant home difficult to maintain? Does it need a lot of money also?

    2. The same questions as 1. Also is it important to make our kids study in a school that has 10/10 rating or is a 7/10 rating school also good?

    3. We are also considering a condo because it is hassle free. We need not worry about the outside maintenance, everything will be taken care of by the association but my husband doesnt want to buy a condo because he feels that we just own the house and nothing else. We dont own the land or anything. Also he feels its a waste giving 320 for the condo fee.
    Tomorrow when we want to sell it, does a independant home have more value than a condo?

    Please help me with these questions. I really expect some answers so that we can take a decision as quick as possible.
     
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  2. anmolhai

    anmolhai Platinum IL'ite

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    House buying is no easy task. Here is my 2cents ;)

    1. I would start with having a talk about how important it is that the kids to go to 10/10 rated school. Once you know if that is your #1 priority than everything else will be secondary.

    2. once you finalize the school then see which is the best house with in your budget & location wise.
    Is the 1960's house renovated? how much renovation you will have to do in coming years? Consider that $$
    We bought a 20 year old house and it needs some renovations.

    all the best!!
     
  3. Yahooo

    Yahooo Silver IL'ite

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    Anmolhai, thanks a lot for the reply.

    For us, school is the first priority and we dont mind buying the 1960's home because it is renovated a bit. But is it ok to buy a too woody home? Do u know if it is too difficult(money and time consuming)to maintain a big pool? Is it important that the bedrooms should be big(atleast the master bedroom)? Is a condo by any chance better than an independant home? While selling it, will an independant home fetch more money than a condo?
     
  4. siviya

    siviya Senior IL'ite

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    Maintaining a pool is really expensive if the poolis really big, but the thing is you will be maintaining it only for 5to 6 months, year of built is not really matters, how much renevations needs to be done is more important. From my experiance getting your dream house with all your check list is difficult, prioritize the checklist, sacrifice some. About the appreciation or able to sell in. 15 years is too long way to think..
     
  5. Yahooo

    Yahooo Silver IL'ite

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    Thank you siviya. Can u tell me if its better to buy a individual home or condo? Which will be easy to sell?
     
  6. siviya

    siviya Senior IL'ite

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    In the terms of selling point, i think single family would be good. Condo would give you more time to spend with your family instead of with your home. by the way we bought a single family with pool, you can imagine how much time we spend on our home :)
     
  7. Yahooo

    Yahooo Silver IL'ite

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    Thanks Siviya. Wow u bought a home with a pool. That's great. We did not proceed with that home because we thought that maintaining a pool is really very expensive and time consuming too. We have no previous experience of maintaining one too. We know we would not be successful.
     

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