House Woes

Cherokeekid88

Cherokeekid88

Well-Known Member
Joined
Jun 30, 2007
Location
High Point, NC
So my wife and I and hunting for a house....problem is...seems we can't get what we really want for a decent price. My main thing that I want in a house is a 2 car garage, Fire place, and fenced in backyard....There are alot of houses around here that have a one car garage which I can live with, but I am thinking resale value...are homes with one car garages that desirable to the average home buyer?
I really want a 2 car but...you know you know.
 
Fences can be built. Covered and enclosed parking is always desirable. If it is the only house with a 1-car garage and the rest of the neighborhood has 2-car garages... maybe not so much. Then you have to look at whether or not you can (and is it worth it?) add on.
 
I hunted for over a year in south Asheville or those exact specifications and had to compromise. Asheville market is higher than average though.

I settled with a one car garage and HATE it. I wish I wouldn't have compromised.

No actual jeep work can be done in a one car without punching holes on the drywall lol.
 
Anyone that's interested we have a wonderful 3 bed / 3 bath rock house with 0.92 ac, 2 car carport, 16x20 utility shed (built last year), garden spot and a chicken coop for $205k. Seriously, buy my house.

edit: it's located in Haywood County
 
It really depends on the garage; all one car garages aren't created equal. I was in the same boat when I bought my house. I ended up settling for a one car garage, but it's actually a pretty good size. My 3/4 ton suburban even fits in it.
 
A chicken co-op? Is that where you get partial custody of a chicken, or something else?






I'm kidding... but for some reason, co-op is what I read the first time through. I was confused for a minute or three.
 
McCracken said:
Anyone that's interested we have a wonderful 3 bed / 3 bath rock house with 0.92 ac, 2 car carport, 16x20 utility shed (built last year), garden spot and a chicken coop for $205k. Seriously, buy my house.

edit: it's located in Haywood County
Click to expand...
NO me first! buy my house, 3 bed 2 Bath, large 1 car garage that was converted from a 2 car carport. on .8 acres fence backyard on a a 6 acre lake. $140K! located in Trinity, Randolph county.
 
shawn said:
A chicken co-op? Is that where you get partial custody of a chicken, or something else?






I'm kidding... but for some reason, co-op is what I read the first time through. I was confused for a minute or three.
Click to expand...

no it's a co-operative farm. we've agreed that I will feed them and they have agreed to lay eggs randomly around the yard so I can have th benefit of a Easter egg hunt year round.
 
So many people around here just store crap in their garage and no cars so a 1 car garage is fine for some. Not sure about High Point area, but inventory is very low in Raleigh/Durham right now. We just sold our place in 5 days (for more than we thought we could get), it is turning into a sellers market here almost.
 
My house is for sale also. 3 bed, 2 bath, 2 car garage, fenced in back yard, neighbor is cool as hell (helps me work on my truck) $140k in west Shelby.
 
Yes, it is damn near impossible to find what you want in a decent area in RDU. We have been looking for months and coming up empty. Our problem is we have a small area to look in since we don't want to switch schools. I settled for a 2-car garage on a tiny lot.

Drives me insane, my garage is essentially an oversized 1 car now with my tools in there along with the kids' toys and my yard is too small to store ANYTHING.
 
I really feel that we need a 2 car...no junk will go in the garage...its for cars and cars only..maybe a fridge and some man stuff but thats it.... most of the one car garages we have looked at seem way to small to even have room to work on anything.... just seems all 2 car garages are attatched to crappy houses.....
 
Well garages CAN be built, you just have to consider whether it is worth it.

The last house i rented had a 1 car garage, but it was wide enough that I could put shelves along the wall, and pretty long - enough that I was able to put my workbench at the end and work in front of the truck w/ the door closed.

Our "2 car garage" is just barely that... and in reality what it means is 1 car w/ lots of space on either side (1 side bench, 1 side junk)...
 
Cherokeekid88 said:
I really feel that we need a 2 car...no junk will go in the garage...its for cars and cars only..maybe a fridge and some man stuff but thats it.... most of the one car garages we have looked at seem way to small to even have room to work on anything.... just seems all 2 car garages are attatched to crappy houses.....
Click to expand...

hey now!
 
shawn said:
QFT.

It may not be a rule, per se... but it's damn close to one.
Click to expand...

hey now!

it's probably close to the truth because people want the two car garage but can't really swing it. In the end they can't see the forest for the trees and end up cutting costs on the home thus making it crappy.
 
Well, I found a house that I really want...only thing it does not have is a 2 car garage...its has a one car garage with a double driveway which I can live with. everything seems perfect...hopefully realtor can take us to see the house this week.
 
We went and looked at the house last night with our realtor....very nice house...just about everything is new... seems like the house was flipped because of all the new stuff in there...doesn't seem like anyone lived it in. The only problem we are having now is if we can get approved for a USDA loan instead of the FHA...we could take all of our savings and use it for the down payment, but we would be broke as soon as we moved in, so that is not ideal....We also thought about borrowing against our 401k and doing a loan just to pay for the downpayment...anyone ever do this? good idea? bad idea? I have read mixed reviews....All I know is that the house is awesome and I want it. absolutely nothing would need to be done in order for us to move in and the price is good.
advice? again, We are first time home buyers, so this is all new to us.
 
A few thoughts
- you have to look out for flipped houses... everything looks nice and new, but that probably also means it was done as cheaply as possible and potentially lots of cover-ups. Not always but very possible. See if you can get some history and info. Ask what was done.

- You'd be amazed how much you'll find you're going to need to buy after you move in. Do you have a comparable size house now? Consider cost of all the decoration crap your girl will want to do. What about yard tools. Just cost of the move... etc etc. Plus you don't know what could break 2 months in. Don't leave yourself w/ nothing in reserve... dangerous.

- personally I would not even consider borrowing against a 401k. You're gonna hit taxes/fess w/ that, plus loss of investment time. Remember the house is not a guaranteed investment, especially if it has already been "done up" as much as possible and not much you can do to improve/add equity.
Honestly it sounds like this is just more house than you can afford now. It sucks but IMO best to keep looking and don't let teh realtor talk you into more than you can afford. Get something where you can add some "sweat equity"...
Remember you are young and thing is your first house. It dosn't have to be the "forever house" and most likely will not be. I'd consider this one a stepping stone to get to where you want 5-10 years from now.
 
The price of the house is not a problem... we can afford the mortgage just fine...its just the down payment. Hopefully the house is USDA approved. I understand that the house might not be a house we live in for a very long time, but I refuse to buy a house to save a bit more money and out grow the house in 2-3 years. The house has ALOT of potential to be very nice. don't get me wrong...there are things that can be done to the house, just nothing immediate.
This house just seems to be the one I can really see myself living in....but if its not meant to happen, then its not.
 
Sounds like you found your house; now if you can swing the financing. Hope your Realtor, is Your, buyer Realtor. You need 1 on Your side! They are very helpful finding what you want, at what you can afford! And you should be pre-approved, for a certain amount. All Realtor s, usually have a financial guy,to help you. My first house had 1ac., with a 1car garage, but it had a 6' side, beside where the vehicle sat. That was useful, for my work area. But I also ended up with 2 out-buildings,for my mowers & stuff! After a very long search, I found what is near perfect for me! Odd thing is, this is not exactly what I Was,looking for! I have 1/2ac., which is plenty, a full drive in basement, to house my Jeep,& workshop, & Stuff, + attached 1 1/2 car garage. The garage doesn't have a door [yet], but with a 16' opening, I back my Truck in against the outside wall. Then i can pull my Celica in at an angle, up to the "small" deck & steps, of the kitchen door. Leaves 2' of car sticking out. I'd need to delete the deck to get the car in,& with the 16' opening, can only get 1 vehicle in/out, at a time. But, I don't have Any, out-buildings! I LOVE, my full basement! Good Luck :D
BE SURE, to get an inspection,& be WITH, the inspector! Hope you've seen some "Holmes on Home" shows! Many inspectors, are rip-offs!
 
your realtor should be able to tell you the history of the house..that's what you're paying him/her to do. You may not think you are paying the realtor, but the realtor gets the commission when you buy, paid by the seller...that cost will rollover into your purchase price.
If you can't get the info from the realtor, or just want to double/precheck, hit the county GIS websi. That will show the sales and tax history of the property.
Guilford County GIS link

I wouldn't touch the 401k, as RatLab said. The key with 401k is to pack it early and let it grow over time. Maybe if youre over 50, that wouldn't be a bad idea, but I know you're low-mid 20s
Don't set your monthly mortgage payment too high. Consider it your minimum payment, you can always pay extra each month if you can afford it. All my mortgages have had no penalty to pay early, I guess double check that when mortgage shopping. When you buy a house, anticipate weekly trips to Lowes/Home Depot and dropping a couple hundred dollars each time for at least a year, its gonna happen.
 
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