holy moly

[jaeclectic]

I just got a call from my realtor: my offer for the place on Orange has been accepted, already!

Which means I now have contracts in place to buy two different properties. At some point, I have to decide which one to drop. Preferably ASAP, since otherwise I pay for inspections...

Randomly:

I like the feeling of the building on Orange, more so than Lakeshore. I think it has to do with nicely painted and well-lit hallways.

But I am genuinely worried by the idea that it may actually be a bad investment. Will I kick myself if I need to move in a couple of years, and I can't break even selling it?

OTOH, there is a lot to be said for a lower mortgage payment and still having money in the bank.

And a woodburning fireplace.

Did I already post a link to the pictures?

Please comment, at this stage I heartily welcome opinions... at the very least, if I disagree, that will tell me something about what I really feel.

Comments

[(Anonymous)]

sounds very complicated... of course you're lucky to be divided by options, but i know it must be driving you crazy...

hard to say much without having seen them myself but...

the pragamtist in me, after a few years of spotty employment... says go for cheeper...if your even remotely happy with both, but one costs a lot less.. thats the way to go!

my other thought... a home isn't an investment first. its where you live... its well and good, if it can make you money and be your home... but your comfort and quality of life should be most important when evaluating these places? which one feels most like home? which neighborhood will you feel most comfortable walking through? which feels cosey?

just some thoughts.

[angel-boi.livejournal.com]

doh, their i go posting from camino again *wave*

[jafitz.livejournal.com]

Actually, I could tell it was you, you have a characteristic writing style (and no, I'm not (just) dinging your spelling when I say that :)

Your comments are completely apropos. What I've been saying all along is: this is not primarily about investment, it's primarily about having a nice place to live, I just don't want to do something stupid.

And the reason it's a tough choice is that both options are really pretty good. But I will probably go for cheaper, for exactly the reasons you say (it's not that long since I was unemployed myself), as long as I can get past the "this may be really stupid" factor.

[bulieb.livejournal.com]

Ooooh, I like that one better. It's hard to say how the other one will look with some fresh paint and fixtures, but that place looks like it FEELS better. And for some reason, I really like parquet (sp?) floors. They're wood but still practically indestructable.

That's my two cents.

[ztepfinat0r.livejournal.com]

I'm with bulieb, I think this place feels better.
The wood floors are so much easier to keep clean, the place looks more homey, and there appears to be less stories/floors to the building itself, which I chalk up to less neighbors/racket and more earthquake friendly. ;)

Then again, I know nothing of investing and equity and resale value - I'm just going on aesthetic.

[jafitz.livejournal.com]

Yeah, I am kind of liking it better, but it's hard to compare: I've been in the place on Lakeshore four times, I've kind of gotten to know it -- vs spending a 1/2 hour yesterday in the place on Orange, with the current owner hovering in the background.

I do like the parquet floors, although they have some damage, and also show some signs of having been installed by the current owner rather than a professional...

Still and all, I'm leaning that way. Stay tuned.

[jafitz.livejournal.com]

Well, I am trying to focus mostly on the having a nice place to live aspect. I just hope that I'm not doing something totally *stupid* in the financial aspect.

I also am unhappy about having been so rushed. I like to see a place a couple of times, get measurements of the rooms, sleep on it, then decide to make an offer -- as opposed to seeing it for 1/2 hour at 9AM, holding down my day job for the rest of the day, writing an offer at 6PM, and having it accepted at 9PM. *gulp*

Ah well, I should avoid self-pity. Although I am duly stressed-out, I am also fully aware that as problems go, this is not so bad!

[ztepfinat0r.livejournal.com]

Our place was rushed, too, but not in the same ways as yours. Firstly, we're renting, not buying. But I went there last week, saw it for 7 minutes, scrawled down a rough draft of the floorplan when I got home, and showed it to B.
We submitted our paperwork and I tried to work it so B could view the place ... but we got accepted for it already.
So now he's gonna view it on Saturday and then we make the final decision. Then we have just under 30 days til move-in.

Stress all around, though not as much as the stress of buying!

[jafitz.livejournal.com]

Hey, I didn't realize you'd found a place! Tell me more, more, more...

[ztepfinat0r.livejournal.com]

Well, I had viewed the place as soon as it came available....but I saw it without B cuz he was at work. I urged B to turn in our paperwork and to trust me on this one, and made plans for him to view it this weekend.
But we GOT the place in that time frame!

So he's gonna view it today, and if he approves of it, THEN I'll announce all the juicy details. :)

If he doesn't approve, then we tell the realtor sorry. It's currently showing as 'pending rented' - that's the way this realtor works. They allow backout room. I didn't know one could use this option for renting! But it's very good to have right now, in case B for some reason hates the place.

Stay tuned!