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Made an offer!

November 3rd, 2009 at 07:34 pm

Now we have to wait.

We bid on............ #1!

Thank you for all your feedback. I was leaning towards #1 as well, because #2, as wonderful and lovely as it is, was really a financial stretch.

I know the common "stretch at first, you'll be glad later when you grow into it" advice... however, what would we do if the maintenance was raised?

So now I have to wait to hear from the seller...
Excited, scared...

All these questions:
Did I offer the right price?
Should I have started from a lower amount?
Is there something even better out there?

Did you guys have these fears when you bought your homes? How strong were they?

Posted in Uncategorized | 10 Comments »

10 Responses to “Made an offer!”

  1. LuxLiving Says:
    November 3rd, 2009 at 07:35 pm 1257276946
    1257276946

    Yes. But I think you made the right choice to go with what you know you can handle.

  2. ceejay74 Says:
    November 3rd, 2009 at 07:53 pm 1257277991
    1257277991

    Good luck!

  3. NJDebbie Says:
    November 3rd, 2009 at 07:54 pm 1257278067
    1257278067

    Best wishes! Love the place!

  4. whitestripe Says:
    November 3rd, 2009 at 09:41 pm 1257284460
    1257284460

    I was terrified when we made our first offer - I had read that people can get offended if you offer too less. We offered $312k on a $325k asking price. It was pushed to $320k and we later found out that the owner really wanted $322.5, and also that a previous offer had been made for $300 that they had flat out refused.

    And about the 'is there anything better out there', well, I refused to look on the internet for any more houses for a month after we bought our place because I really didn't want to know the answer. It turned out DF checked every day just to make sure, and later told me there was nothing really of interest. There's always going to be other places for sale, but once your offer is accepted and you've moved in, trust me, NOTHING is better than your own place Big Grin
    Good luck!

  5. thriftorama Says:
    November 4th, 2009 at 01:41 am 1257298864
    1257298864

    The first one is always the hardest and scariest. I agree about not stretching and being house poor. I think that is outdated advice that worked well for young marrieds in the 50s-70s, but that isn't a good idea now that basically the American family and economy have changed. We stretched for our first and it was a mistake. Lots of sleepless nights. Luckily, we had the chance to do it over with our second house, bought one for much less than the bank wanted to give us, and paid it off. I sometimes get house envy, but this house is great, is really what we need to meet our goals, and still has a lot of equity potential.

  6. CouponAddict Says:
    November 4th, 2009 at 02:11 am 1257300691
    1257300691

    I am glad you went with the cheaper house; that is my only regret. I wanted a house which I could afford on my income only. I have that but I never thought of what would happen if my income got cut in half.

    Every day I think what if I lost my job; how long would we make it before forclosure. I am highly paid with AWESOME benefits for the area I am in and worry that if I lost my job I would only find work that paid about 50%.

  7. baselle Says:
    November 4th, 2009 at 02:33 am 1257301982
    1257301982

    "stretch at first, you'll be glad later when you grow into it" advice = many sleepless nights these days. I put a big premium on being able to sleep.

  8. gamecock43 Says:
    November 4th, 2009 at 01:29 pm 1257341385
    1257341385

    I felt the same way. I really lowballed our house when we bought last year and the seller came back with what I thought was a high counter. We were so afraid to lose it we only went a tad below his counter. Honestly at the time we thought just the asking price was a great deal though! So we wern't worried about paying too much. Just the bargainer in me wanted a GREAT deal. We got a good deal. Looking back I always think we could have shaved another couple grand off the asking price if we have lowered our counter- but try not to think about it. But the house has pretty much stayed the same value in the past year since we bought so I guess we did good. And we purchased in the low end of our price range and feel very good about our mortgage.

  9. all4money Says:
    November 4th, 2009 at 01:41 pm 1257342078
    1257342078

    Awesome decision going with #1. I wish you the best of luck!

  10. Nika Says:
    November 7th, 2009 at 04:28 am 1257568087
    1257568087

    Whitestripe, we were not terrified of making a lower offer (we are terrified of paying too much). Right now the market is such that sellers can't afford to get annoyed and refuse to deal with a well qualified buyer.

    So I know there is always a second chance, if I am willing to pay more.

    Unfortunately, that seller is still holding on to what she thinks it is worth. Ours was the first offer in about 3 months.

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