NewlyNested: $300,000 for a Miniature House
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a blogumn by Debra Goykhman
Yes, this is a dollhouse kitchen, but you get the point. Photo Credit: vintagecat
As previously mentioned this Nester is looking for a new nest. Like most people we are sick of paying rent that is higher than a mortgage for the same house, so we are now looking into buying a home. I thought house hunting was going to be super fun—like shoe shopping– but I was wrong. Instead house hunting is much more like the dating scene. Here is why.
1. I have never lived in one apartment over a year and there is no easy way out of a mortgage. The thought of committing doesn’t just scare me, but it makes me question myself and what I like. Do I like the floor plan? Can I see myself living in this amount of space forever? Will I like the neighborhood? Will I get along with the neighbors? When dating these questions are guy focused. Do I really like him or is it lust? Can I really stand to spend so much time with him? Will I get along with his friends? It’s all pretty much the same.
2. First impressions are important. With a house, I have to hope that I will look good on paper. When I want something so bad, like our hypothetical dream house I worry that the seller won’t like the “image” I present? Kind of like impressing a crush and trying to make that killer first impression.
3. Then there is panic. How many times do I have to search for a house before I see something I like? Why do all the ones I like get snatched up by someone else? How many times do I have to have my heart broken before I find the one? Similar to the frustration of endless first dates until you actually go on one you like and settle down.
4. Finally, trusting a realtor is like getting a matchmaker. You really have to trust that they are keeping your best interest at heart.
I’ve also learned through this process how different Southern California still seems to me. I know what price to expect from what neighborhood in my hometown, but I’ve only been in California for a small amount of time, so I’m clueless when it comes to expectations. The biggest shock I have experienced is how small the houses are for so much money! This is even with the housing crash. We looked at a $300,000 home with a kitchen the size of a closet and another one that didn’t have enough space for both a TV and a couch in the living room. It’s all very strange to me. I’ve also gone into some open houses for places out of my reach and even in the 2 millions they are still often only 2 or 3 bedrooms, that just happen to have “sitting rooms” in the bedroom.
I am still hopeful to find a home even though I am always second guessing committing to San Diego and beginning to wonder if I’ll actually be able to find a kitchen that will fit some dishes. Luckily I think time might be on my side. I’ve heard rumors from people who keep up with the financial situation (I’m not so good at following the numbers), and I hear that it’s expected that the housing market will decrease another 10% before going back up.
Anyone else out there looking to buy? Do you have any advice?
We just bought a house in the LA area and, yeah, it is super expensive. I don't know where your hometown is, but mine is in middle of nowhere Texas. Yes, I could have gotten a mansion for the price I paid for my modest one story here, but then…I'd be living in middle of nowhere Texas. So, first, you have to stop comparing the market here to anywhere else. Pay more attention to the comp prices in the neighborhoods you are interested in. That's a better indicator of the value of the neighborhood as a whole and whether or not you are getting a good deal.
It's terrifying to commit, trust me. But nothing felt better than getting the keys to our own home and knowing that we were now putting our money into something as opposed to just handing it over to a faceless apartment management company.
Good luck with your search!
I completely agree w/ Debra. My sister's bought a house by herself that's larger than the one we currently reside in. But I'd live in an apartment, b/f I'd move back to St. Louis. Also, Debra wrote a great post on this same subject: http://fierceandnerdy.com/?p=8681
We just bought a house in the LA area and, yeah, it is super expensive. I don't know where your hometown is, but mine is in middle of nowhere Texas. Yes, I could have gotten a mansion for the price I paid for my modest one story here, but then…I'd be living in middle of nowhere Texas. So, first, you have to stop comparing the market here to anywhere else. Pay more attention to the comp prices in the neighborhoods you are interested in. That's a better indicator of the value of the neighborhood as a whole and whether or not you are getting a good deal.
It's terrifying to commit, trust me. But nothing felt better than getting the keys to our own home and knowing that we were now putting our money into something as opposed to just handing it over to a faceless apartment management company.
Good luck with your search!
I completely agree w/ Debra. My sister's bought a house by herself that's larger than the one we currently reside in. But I'd live in an apartment, b/f I'd move back to St. Louis. Also, Debra wrote a great post on this same subject: http://fierceandnerdy.com/?p=8681