Tuesday, July 8

The Townhouse Hunt

So as I mentioned before Thursday was quite the day of house hunting.  

We didn't look at too many places.  My Wonderful Realtor set up 4 showings; the three townhouses, and one house that was in my price range.  When it came to thinking about buying a house I would get this panicked look on my face and start to hyperventilate a bit so we decided to just look at the one house just as a comparison.  

So we start at the two townhouses that didn't look too promising.  One had been on the market for over 600 days listing at $65,000.  We only took a few steps in, discovered there was someone there that scared the crap out of us, and told him we would come back in half an hour.  The second one was in the same complex of townhouses and listed at $85,000.  It was nice enough, newer appliances, Pergo floor in the kitchen/dinning room.  I kind of liked the layout.  But the bedrooms were "garden level" aka in the basement.  My first apartment in Owatonna was like that and I vowed to never live in a place that was half underground again.

So we left, deciding that if I didn't like the $85,000 placedefiantly wasn't going to like the $65,000 place since it was the same layout.

Onto the third townhouse, the one I've had my eye on for a little over a week.  They were asking $92,900, a little steep compared to what my friend paid for hers last year.  It was a nice layout, kitchen and living room with a door to the patio on the main level, two bedrooms and a bathroom on the second level, and an unfinished basement with washer and dryer.  At first look, it wasn't something that i feel in love with.  But knowing what my friend's looks like, I knew I could make it something I would fall in love with.  Some paint, new kitchen floor, eventually new appliances, things here and there to make it my own.

So with all of that in mind we went to look at the house.  It was an older house that they were asking $95,000 for.  Great open floor plan, but overall it was just too run down.  It would need too much work, the bedrooms were small, and the basement smelt as damp as a swamp.  Nope.  Defiantly not for me.

So thinking about the work I would want/need to eventually do to the townhouse we decided to offer $20,000 under asking price.  I know thats pretty low, but that place needed some work.  And knowing what my friend paid for hers with a completely finished basement, and remodeled kitchen, we knew this townhouse wasn't worth what they are asking.  

So we made the offer, and waited, and waited, and waited.

I finally heard back yesterday.  Want to guess how much they countered with?

After closing costs they only went down to $90,000!


So I pretty much decided that the most I would be willing to pay is $80,000 for that townhouse.  My Wonderful Realtor was going to talk to the Sellers Realtor and see what they have to say.  I haven't heard yet what they are going to say about that, but I doubt they will accept it.  

So I guess I'll keep looking, waiting for another townhouse to go on the market in my price range.  

But I guess there is still hope for this one.

So thats my story of my first day in real-estate hell, I mean, in the real-estate world.  


  1. Don't get discouraged. Either the selling party aren't very serious on selling or their testing you. This should be a buyer's market, that's YOU! Keep negotiating and remember your first impressions. I think that you are on the right track. Dad

  2. I'm agreeing with your dad on this one - don't get discouraged. It is a buyer's - aka YOU - market. Keep looking and be patient. I knew our house was the one I wanted to live in soon after walking through the front door. By that point we had looked at several options and had a definite mental list of things we would and wouldn't like in a home. Your townhouse is definitely out there, Emily! I'm looking forward to reading more updates on your search and then coming down to check out your new digs.
    Good luck!