How much house do you need?

[ryan stewart]

Originally Posted by XutvJet

I don't think it has calmed down much in Kansas City. Yes, listing prices seem reasonable but that is by design. The realtors set a reasonable price, sometimes even a bit low, with the hopes of creating a bidding war. The home then sells for 10%-20% higher. That's still the case now according to my realtor who's been helping us find a home since October 2019.

It hasnt calmed down in Atlanta yet. One of my neighbors threw out a BS price and it got bid up from there, once word got out 3 more sold to go burbs (dont they know they will be paying more when they go out there too?).

Each subsequent sale the ending price goes up 2-3%.

[RickFLM4]

Originally Posted by ryan stewart

It hasnt calmed down in Atlanta yet. One of my neighbors threw out a BS price and it got bid up from there, once word got out 3 more sold to go burbs (dont they know they will be paying more when they go out there too?).

Each subsequent sale the ending price goes up 2-3%.

Same in suburban South FL.

[Joe T]

we're in the same boat as the OP. Our youngest is going off to college in 4 weeks and the wife and I will be empty nesters for 9 months of the year.

We're in a 4200 sq foot ranch, with an unfinished basement, so the next owners could easily have 8000 sqft of living space if they need it.

Our plan has always been to downsize and get the 'eff out of Connecticut, but my wife likes her job so we'll likely stay in state. She now want to live on the water. Our home is high 6 figures, to get into something decent on the water is low 7 figures for a home around 1500 sq feet

my thought s that it isn't downsizing if it's costing more money

[JP10]

Figured I would follow up on this thread. Our landlord reached out Wednesday and they will be listing the property on the 20th of this month. I wasn't planning until buying until next year due to our current life progression, with that said it looks like we can work some things out to swing buying this year - plus we are first time home buyers so that helps with the down payment and all that fun stuff.

Meeting with the agent this evening and we will find out what they intend to list the house for. We are getting first right to buy since our lease persists through October. With that said, I am a little worried it will not leave much room for negotiation. If I want to go lower they could take it to market and I would rather not get into a bidding war. The wife and I did not plan on moving in two months and are doing what we can, short of a bad financial decision, to make that happen.

The house should make a good stepping stone and be a good rental property in the future. Being that we have lived here for 22months, we know what we had to pay for rent and what it could potentially rent for. They have also just put in a new HVAC system and water heater - 2008 home. It is checking a lot of boxes, though it is a little small for family growth hence why it will be a stepping stone home. We will see how things play out!

[1MOREMOD]

I'm old I need a rather large house so I get lost and can't get out causing harm to the community

[shoei]

Originally Posted by 1MOREMOD

I'm old I need a rather large house so I get lost and can't get out causing harm to the community

This I can validate. Ever since escaping Area 52 (not 51 but 52) Mod has needed large space to encompass his rather large delts. And pecs. And biceps. And left nipple. It's fucking humongous.

As for the house thing? I had moved into a rather spacious domicile, one where I questioned does a single male need a house this size? After lockdowns? The answer is yes. I want space to roam or at least be in different sections of the house. I need space to lounge or at least shove a mess to one side and live on the clean side.

[1MOREMOD]

What im a skinny marathon runner? I can agree about space mine is too big but like it and use it. Dont understand the part about the dirty part, keep it clean.

[Gregrobin]

Over the past 15 years I have downsized from a 3500 sq foot 4/3, to a 2500 sq foot 3/3 to now a 1200 sq foot 2/1.5, and I could not be happier. No plans to sell at all. What I found is when in the bigger homes I just bought stuff to fill the rooms up. Along the way i went from the burbs to the city.

I made some compromises, gave up some things, but I love my 1920s small old house in the city. The only thing I wish I had was a 2nd full bath. I added a half bath, sacrificing a kitchen pantry. I converted the old metal shed into a small garage that the 335i fits in, barely. I can't open the doors all the way, but it works.

[RickFLM4]

Originally Posted by JP10

Figured I would follow up on this thread. Our landlord reached out Wednesday and they will be listing the property on the 20th of this month. I wasn't planning until buying until next year due to our current life progression, with that said it looks like we can work some things out to swing buying this year - plus we are first time home buyers so that helps with the down payment and all that fun stuff.

Meeting with the agent this evening and we will find out what they intend to list the house for. We are getting first right to buy since our lease persists through October. With that said, I am a little worried it will not leave much room for negotiation. If I want to go lower they could take it to market and I would rather not get into a bidding war. The wife and I did not plan on moving in two months and are doing what we can, short of a bad financial decision, to make that happen.

The house should make a good stepping stone and be a good rental property in the future. Being that we have lived here for 22months, we know what we had to pay for rent and what it could potentially rent for. They have also just put in a new HVAC system and water heater - 2008 home. It is checking a lot of boxes, though it is a little small for family growth hence why it will be a stepping stone home. We will see how things play out!

Unfortunate the landlord already involved an agent before approaching you. They could have shaved have the realtor fee off the price to you and still come out ahead. Good luck!

[upstatedoc]

Originally Posted by 1MOREMOD

I'm old I need a rather large house so I get lost and can't get out causing harm to the community

Meals on wheels

[JP10]

Originally Posted by RickFLM4

Unfortunate the landlord already involved an agent before approaching you. They could have shaved have the realtor fee off the price to you and still come out ahead. Good luck!

Yeah luckily they are covering those fees. Their listing price was really good, we put an offer in and are negotiating now. We will see how everything plays out!

[chassis]

Originally Posted by erickonphoenix

The kids are gone so me and the misses are looking for a smaller place in the city so I'll be halfway between my two offices. Attempting to get both a rooftop patio AND a garage is putting us squarely in the 3,000 sq ft plus category which is way too much house for just the two of us.

We're thinking a 1,500 sq/ft two bd/two bath should be fine but that's a hard size to find outside of a high rise. But, I like to work on my car so I'd like a garage but then we're back in the sq/ft problem.

I suppose we'll just compromise on the patio but how much house do you really need?

How much house do you need? Far less than you think.

Wife and I are completing our third move in 4 years and each house has been successively smaller. We now own around 25% of the furniture we had four years ago, which followed 25 years of raising kids and concomitant house size, large garage and typical accoutrements.

Living small and with less is exhilarating and freeing.