Posts Tagged ‘home ownership’

Tales of a Home Buyer – part 2

May 17, 2011

Written by Shawn DeVries

From all I have read and been told this was my market.  Houses are in large supply, foreclosures are around every corner, prices have come way down; I would have a huge selection to choose from.  Or so I thought.  While there were plenty of homes on the market, not all of them fit my criteria or needs. 

Now let me stop just a moment and say that there is a significant difference between needs and wants when buying a home.  I may want something from the pages of Better Homes & Gardens, but I need a roof over my head that won’t fall over at the slightest breeze.  I may want a master suite with garden tub and walk-in closet, but what I need are three bedrooms and toilet that won’t leak.  You understand.  Dream about that perfect house and go for it, but make sure your dreams align with reality.

Ok, so off I went to start shopping, real shopping.  Up until now I had been just window shopping – looking on line, driving through neighborhoods, leafing through the newspaper.  Now was my time to go inside the houses and really take a good look.  I was crushed!  I was looking at mostly foreclosure homes and expected some dirt and debris in these vacant places.  What I found was absolute filth, half-completed and poorly constructed projects, and plain shock as I wondered how anyone could live this way.  Didn’t their mother ever show them a broom?!  What were these banks thinking in even listing a house in this condition?  These were not just small projects to make a house my home.  I was looking at major repairs perfect for the HGTV shows like “Over Your Head” and “DIY Disasters” where some poor home owner has bitten off way more than they could chew.  Uuugh!

However I was determined.  (Remember I am living with my parents so being a motivated buyer doesn’t even come close to describing my drive to get this accomplished.)  As I looked, I started to expand my criteria; and searching online makes this process very simple to do.   In adding condos to my list of options, I soon found one that seemed to fit.  I made an appointment to see the property and fell in love.  While I would need to make some slight modifications, it would work for me.  Best of all, I could actually picture myself in the place. 

It sounds a little odd to say, but houses (and condos) really do have personalities.  When you walk into a place for the first time there’s a certain feeling that you receive.  Some places feel cold and sterile, others warm and inviting.  There are properties that exude formality and structure, and others that say this place knows how to throw a good party.  This condo seemed to work for me.  So I wrote an offer. 

My offer was admittedly low.  However, being in the industry I knew about some limitations some lenders have on properties being flipped as this one was.  So I made my offer supported with documentation and waited to see what would happen.  The wait, while only a few hours, was excruciating.  What are they thinking?  Do they understand my offer?  Can they see that I am a good buyer?  Why would they not accept my offer?  Are there other offers being considered? 

The answer came back swiftly with a simple, “pass”.  The response felt like a sucker punch to the gut.  But why?!  This makes perfect sense to me.  What’s your problem anyway Bub?!  Regardless of my feelings, this place was not the one I would eventually call home.  So my search continued.

I found another condo in the development that offered a bit more of what I wanted on my wish list, and another offer was made.  This offer felt different.  I was more guarded to the response.  I was hopeful, but prepared for a “no”.  I liked this place too, but was not nearly so in love with it.  Maybe I was preparing myself for rejection yet again.  Maybe I was starting to get desperate.  I hoped not.  The offer came back.  Again it was declined, but at least this rejection offered a rationale.  Another offer had been submitted earlier in the day and the seller had already accepted that offer.

At this point, I was beginning to doubt of whether my dream of home ownership would ever come true.  Where was the place I would call home?  Whoever had it, needed to call me…soon.

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