Posts Tagged ‘Real Estate’

It was.. my dream home.

Tuesday, October 25th, 2011

So yesterday we looked at the house. The realtor was right, it does show nicely. From what we saw, there are anywhere from $15,000 to $20,000 worth of things that need to be done on top of the initial purchase price of the home. It’s primarily cosmetic, there’s a few cracks in the ceiling from the house settling, and some issues with having to remove a lot of tacky wallpaper, possibly purchase a new water heater, and almost definitely purchase an AC/Heat unit being as I was unable to locate one on the parameter of the house. It’s 2500 square feet, and the rooms in it are beyond huge, with this we’d need some kind of a high powered air unit to make sure each room is properly heated/cooled during the course of the year. I see that costing somewhere in the $3,000 range. While the carpets LOOK clean, the previous owner had pets and there’s a few very dark spots throughout the house so I would personally prefer to just remove them all together and have new ones put down. This would be after all of the wallpaper was removed from the walls, everything was painted and fixtures around the house that were missing would be purchased. The remainder of the money would be to furnish the home, obviously you can’t live someplace with nothing.

The setup of the house is as follows:

Living Room – When entering the house there’s a small living room, large enough for maybe an L-shape couch and a TV, possibly coffee table – nothing extreme. There’s a large gas fireplace in the living room as well, and a large 3-window picture window for plenty of light.

Master Bedroom – Right off of the living room is the master bathroom to complete the ‘split floor-plan living’. The room itself is 13×18. However, the walk-in closet it 10×10 – this would instantly void the need for us to have excess dressers/bookcases in the room. The closet houses pull down access #1 to the storage space above. We could honestly get away with one dresser and maybe a small entertainment unit for the TV, that doubles as storage for under garments and what not. Per the realtor, the closet could be used as a nursery in the future based solely on the size. I personally wouldn’t want the baby sleeping in the closet so that’s a hell no right there, heh. The bathroom has a nice size soaking tub, double sinks and a decent size glass-sliding door shower with two sections for shelving.

First Bedroom and Second Bedroom – There’s a blue room (first bedroom) off of the living room at the beginning of the hallway that’s 13×11. We originally were going to use this as either Sean’s office or Mine, however the room next to it is much larger and can be utilized as a very large office for the two of us. The first and second rooms are merged together with a Jack & Jill bathroom. It’s a decent sized bathroom to be utilized as the private bath for the two rooms, basic shower, toilet and sink area with some storage underneath. The two bedrooms offer decent sized closets for storage/clothing as well. The second bedroom, however, is a whopping 13×21. I shit you not when I say this room is HUGE, go measure a 13×21 area and tell me it’s not big? I could park my freaking truck in there and still have room for two desks and a couch!

Bathroom #3 & Laundry – Off of the very large room all the way at the end of the hall there’s a relatively small ‘public’ bathroom which is at the back end of the original structure of the home. Very basic , but obviously was an external wall because there’s a cut-out for a window that used to look to the outside. It’s a basic room, not much to talk about – directly across is a nice sized laundry room that has a pull down access point for the storage space. It’s not a stand-up attic on this end either, it’s a good height for boxes but the realtor noted she’s never personally gone up there being as there’s currently no electric in the home and she didn’t want to bump her head with no lights. (perfectly understandable). Either way these two rooms were the original “end point” of the home, however they’ve added extensions.

Den / Garage / In-Law Suite – A decent sized den with a gas fireplace, this would be utilized as “Lep’s Lair” as I’ve been calling it. More of a media/game room than a living room, this way if he’s playing games at night, I’ll be on the other side of the house in the master bedroom and it wouldn’t really bother me. This has a lead-out sliding door to the backyard. Off of the den there’s access to the two car garage, which shares access to the In-Law suite that was also built in this 3-part extension. The in-law suite offers a small kitchen, stack-able washer/dryer, and a private full bath. The room itself is about 13×15 so it’s relatively small but could be used as a small studio apartment if we ever chose to rent it out in the future.

Kitchen / Dining Room – These were the two that really blew my mind.  The kitchen is HUGE, and houses a nice corner wood burning fireplace, above it has a small cabinet to hide the TV (the hookups are already there).  There’s a large fridge,  nice stove, dishwasher, plenty of storage, and even room for a nice eat-in area.  From there there’s also a lead off into the backyard.  Moving forward (in the direction of the living room), there’s a nice sized dining room, it could fit a 10 person table and a hutch and there’s another lead off to the backyard.

Backyard – The yard is the size of the house, at least.  More than half of the yard is the in-ground pool and while its a little dirty, it could be absolutely gorgeous when cleaned out.  There’s also a small ‘pond’ area that has a pump and lights but since the power is off its just freestanding water filled with frogs.  There’s a separate small area that’s fenced off for the in-law suite so they have a private yard as well.  Every aspect of the fenced area is cement block so it doesn’t require any maintenance whatsoever. On the outside of the fence towards the side of the house there’s a lot of grassy area that includes a decent sized shed, it would require some clean-out work but its a decent enough size where we could extend the existing fence and give Bella, or any other dog we get room to play in the grass. There aren’t many trees in the backyard, so there’s A LOT of sunlight for tanning and enjoying the backyard in general.

Front – The front of the house has a large wrap around drive-way.  The side has a 6 car driveway past the two car garage. There’s a small island with some shrubbery and a nice sized porch on the front of the house that I can utilize as my usual relaxing area for a cig or even just relaxing outside for the fresh air.

All in all I would personally LOVE to own the home, it’s everything I’ve ever wanted in a home and even exceeds my expectations of everything.  Unfortunately it’s just not within our grasp right now as we’re already $30k in debt, we need to get another $10k on top of that to get the closing costs, PLUS we would need a co-signer to even get the loan.  The next few months (if this house is even still on the market) will require us to work our asses off to bring as much money in as possible to get our debts paid down. I look at it this way.  If the house is still available when we actually are able to do this, it was meant to be.  If not? It was something to walk into where we would know what our expectations are, and where we know we wish to be.

I guess, at this point, the future will tell.

House Hunting Begins

Monday, October 24th, 2011

Sean and I (plus Karen!) are seeing a house tomorrow. We’ve been looking at it for a little while now and finally got ourselves hooked up with a realtor and made the appointment to take a look from the inside. The over-head views and photos listed online have sparked our interest enough to want to walk inside. There’s a pretty big in-ground pool so that’s a major plus for us – we’re like fish in the summer time if there’s a pool around! There’s also a MASSIVE kitchen that offers tons of storage and natural light. I’m excited to get in there to look around. It’s four bedrooms, four bathrooms PLUS an in-law suite, so if we actually do purchase the home, we’ll have someplace to stick people when they come to visit so they can have some privacy as well.

The biggest issue for me is leaving everything in NY. My entire family and all of my friends are there. One of which is kind of giving a guilt trip cause we’re coming down here and not looking in NY. The reason being – TAXES. The property taxes for a home on Long Island are in the $10,000 a year range. This is ON TOP of the $3,000 a month it would cost to OWN the home itself, so we’re looking at about $3,700 a month in outgoing bills. Where as down here, the taxes are in the $1,000 range. This is the more financially sound option for us because it would bring our monthly payments into the $2,300 range, which means between the two of us we have to make $1,500 a month in order to not only pay all of the bills, but general house maintenance as well.

What we’re looking for, as far as a mortgage is concerned, is the ability to ask for about $30,00 more than the cost of the home. We’d utilize this extra money to pay off all of our other debts so we can then bring our ‘outgoing bills’ payment to the same amount without having to worry about whether or not its going to be the car payment or the mortgage payment.

We’re jumping into this, we know this full well. It would be more financially sound for us to try to pay off more of the bills before we even consider a home, but when you just have that feeling that everything is going to be alright… you act on it. It’s the same thing I did when I left my stupid office job. As soon as my notice went in, work came spewing out of the woodwork. And since we’ve been in DE? We haven’t really been able to breath because of the workflow. If this is the sign that everything is going to be OK, then I’ll take it – and run with it.