So, randomly this summer I suggested to the boyfriend that he should buy a house because interests rates are low enough that it would not be significantly different from his house payment and it was a good investment. I included this craazy listing for a house that was foreclosed and up for $60k.
We continued to toy with the idea, and the more that happened the less of a ridiculous joke it became and the more of a reality it started to become. One problem, there had to be a perfect house.
Now let me explain a few things:
1) Even with the housing market failing like a champ most places, in Austin the housing market dipped for less than a year and is already back into being a seller’s market.
2)The list of desirables is quite frankly obnoxiously long, tedious, and probably not something that can be found:
- 2 living spaces (one for gaming, and one for living)
- a fireplace
- a nice kitchen, preferably with gas stove/oven
- a decent yard with old-growth trees in the back and/or front
- lots of storage
- a large master
- at least 2 other bedrooms, both of at least 9’x9′ dimensions
- at least 2 baths, preferably 2.5
- as little carpet as possible
- a decent southwest Austin neighborhood
- a garden tub in the master
- a covered porch or patio
- space for entertaining guests
- open floor plan or at least unique features
- at least 1300 s/f+, preferably 1500 s/f+
- oh… and at 145k or less
3) Did I mention the median value for homes in SW austin is right around $200k with some areas well into the $300k+ ranges?
That being said, we are willing to take something with issues (cosmetic issues, no messed up foundations, etc.) and put in sweat equity to make it shine.
This has been a grueling process. In 4 months we’ve looked at lots of houses, have made 2 bids, have attempted to make 2 or 3 more, and have looked at more houses than I care to admit. Most were not workable, and those that were sold so quickly that it would make your head spin. It drives a girl mad.