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Sympthsical

(9,176 posts)
25. There is always second guessing after making such a huge commitment
Sun Feb 6, 2022, 09:05 AM
Feb 2022

We bought in Dec 2019 and moved in literally just as the pandemic was starting. It was the first home either of us had ever bought, and both put a nice chunk of our savings into the down payment. We took our time, but there are always things.

Once you actually settle into a place and spend tons of time in it, you begin noticing things and adjustments you have to make that you didn't think about before. Especially during lockdown. That first year, did we ever live in this house far more than either of us had assumed we would. And given allllll of that time we spent staring at the walls, we probably started second guessing more than we might have had we both been away at work all day.

- What's up with the sprinkler system over there? We should have someone come fix that.
- You know, now that I stare at that wall paint, it seems odd. We should probably redo the entire living room (note: front room has 22 foot ceilings).
- Do we want wood in that bathroom? It gets wet.
- Why did they put carpeting in front of this sink?
- There are way too many small trees back here. We need to cut at least eight of these down.

And so on and so on. The idea behind the house was to be able to host family and friends. So, Covid put that whole thing on hold. What we ended up with is a rather large house that two people didn't really need. We're both in our respective home offices all day. There are rooms no one goes into. We started second guessing. "Should we think about getting something smaller?"

But, we managed. We took on a friend of a friend as a tenant for a downstairs bedroom. We adopted two kittens. We have had people over gradually. Hopefully this spring we'll actually use what is a rather gorgeous backyard and deck for BBQs.

In other words, we're finally settling in and using the place as normal people would. Covid was not a normal house transition period. It just gave us a lot of endless time picking over the flaws for lack of anything better to do. And without using the home as any kind of social space, we wondered why we had so much space.

And given it's California and people are moving away from SF and Silicon Valley into North Bay, our valuation is up 34% in two years. So, you know, not the worst investment. We have 70% of equity in the place. So while we doubted our decision for quite a long time until recently, it's ultimately working out. We finally decided to install solar, which is kind of our, "Yeah, we're staying," declaration.

But yeah. Covid really threw a monkey wrench into the entire process and experience.

Kick dalton99a Feb 2022 #1
People make mistakes all the time. elleng Feb 2022 #2
difference is that extreme competition impacted decision Demovictory9 Feb 2022 #3
Why 'extreme competition?' elleng Feb 2022 #4
inventory was very low Demovictory9 Feb 2022 #5
properties were selling within a day or two after listing giving buyer little time to decide Demovictory9 Feb 2022 #6
What caused this market 'change,' if it was a change? elleng Feb 2022 #7
If it was similar to other markets, probably two main factors DFW Feb 2022 #9
Thanks, makes sense that labor shortage might result in such 'weird' (to me) behavior. elleng Feb 2022 #11
Nor am I DFW Feb 2022 #13
LOLOLOL! elleng Feb 2022 #16
Yeah, the interest rates are a big factor. Haggard Celine Feb 2022 #12
You might not have to move that far DFW Feb 2022 #19
I've heard.good things about Dallas. Haggard Celine Feb 2022 #21
Dallas is definitely a blue island in a mostly red sea DFW Feb 2022 #22
Yeah, wherever we go, there are pluses and minuses. Haggard Celine Feb 2022 #41
This message was self-deleted by its author Haggard Celine Feb 2022 #43
Even when interests rates rise again, it will cause a long hangover in housing Amishman Feb 2022 #34
This is why I am suspicious of those who think housing prices will collapse. cinematicdiversions Feb 2022 #50
Unlike 2008, inventory is a big part of the problem this time. mnhtnbb Feb 2022 #53
The rates have been stable for a decade. Mosby Feb 2022 #54
Another issue is all the properties that left the market in the foreclosures Sherman A1 Feb 2022 #17
True: too much money chasing too little inventory DFW Feb 2022 #20
Yeah. I couldn't go down that road a second time ecstatic Feb 2022 #8
Same with me, I bought in 2003 near the height of the market and it's been a long time to get equity TheBlackAdder Feb 2022 #55
From what I read many of these buyers LittleGirl Feb 2022 #10
Inspection is a complete waste of time. I don't even bother. Most of those who call themselves Demsrule86 Feb 2022 #29
Sounds like you had a crap inspector. My inspector, on both my property purchases, Scrivener7 Feb 2022 #32
It is a waste of time...you can check most things you can see yourself before you make an offer. Demsrule86 Feb 2022 #35
Nope. As I said, I have found it to be extremely valuable. Scrivener7 Feb 2022 #36
Well to each their own. I have not found inspections useful unless you are trying to get the price Demsrule86 Feb 2022 #38
So you have said. Scrivener7 Feb 2022 #40
My experience is that those home warranties LittleGirl Feb 2022 #42
That depends on the Warranty. I negotiated one with the Wisconsin House when we bought it Demsrule86 Feb 2022 #44
I've never bought a house that didn't come with problems. Wingus Dingus Feb 2022 #56
Good advice. I'd never buy anything without an inspection. Scrivener7 Feb 2022 #31
I completely disagree...most of the folks I know including family members had inspections... Demsrule86 Feb 2022 #37
Yes, Demsrule. I know you disagree. Scrivener7 Feb 2022 #39
It is based on years of experience. Most people don't buy and sell as many houses as I have. Demsrule86 Feb 2022 #46
most people do not have an expert family friend or know what they are looking at themselves. uncle ray Feb 2022 #49
The eventuality will find many of these buyers upside down EarthFirst Feb 2022 #14
Those upside down buyers if they don't need to sell are usually fine...Real-estate is up since 2008 Demsrule86 Feb 2022 #30
Prices won't retreat, at best they'll stagnate Amishman Feb 2022 #52
I am not sure these -percentages are all that much different in any particular year. cinematicdiversions Feb 2022 #15
Good point True Dough Feb 2022 #23
Scarce supply facing increased demand mnhtnbb Feb 2022 #18
In 2007/2008 the same thing happened. There was a bubble, people paid too much and Vinca Feb 2022 #24
But those houses are worth more today than they were in 07 and 08. Demsrule86 Feb 2022 #47
There is always second guessing after making such a huge commitment Sympthsical Feb 2022 #25
Exactly right, and why my partner in crime (house flipping) made more money than he ever made Demsrule86 Feb 2022 #28
That is fairly common...so common there is a name for it...buyers remorse. I have bought Demsrule86 Feb 2022 #26
And I will say, we still have very little inventory here...so it continues. I take everything Demsrule86 Feb 2022 #27
I don't know about you guys but onethatcares Feb 2022 #33
Right? MissB Feb 2022 #45
As a child who was expected to help out on Grandpa's farm I get that. I would never buy a Demsrule86 Feb 2022 #48
we bought and downsized right before the plague onethatcares Feb 2022 #51
Good for you. Your new house sounds great. I suggestn square foot gardening and you can also Demsrule86 Feb 2022 #60
three years in. onethatcares Feb 2022 #61
Ditto. I spent my childhood on one. shrike3 Feb 2022 #64
Don't they still have to maintain it, even as an Air BnB? Wingus Dingus Feb 2022 #57
They were probably unaware that cows poop shrike3 Feb 2022 #65
Five acres and two cows, LOL shrike3 Feb 2022 #63
Great response from a reader... tenderfoot Feb 2022 #58
Ugh. "I'm hungry for pasta, I'm going to Rome for three days"-- Wingus Dingus Feb 2022 #59
Sounds like the NYT to me. shrike3 Feb 2022 #62
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