Thursday, February 14, 2013

Real Estate Doesn't Care That It's Your Dream House

If you follow me on Twitter, you already know that we put in an offer on another house last night. We're in kind of a weird place. If you were to ask us if we're officially house hunting, I'm not sure we would say yes. And yet... perhaps we are?

Image of one of our favourite neighbourhoods from Google Maps.

Anyway, this house was totally different than the last house. For starters, it was in better shape, though still old, still in some serious need of updating. It was three storeys, split into two gorgeous, light-filled apartments with soaring ceilings and gorgeous original details. And, it sat, regally, on the edge of our favourite park, the park we take our dogs to almost every other day. We could open the front door, send them out and watch them run down the hill to the dog park gate. (Not that we would. I have a feeling some people would not be so happy about that.)

This house was also a stretch. A max-ourselves-out kind of stretch. While two weeks ago we were talking about buying cheap in order to hold on to our current home, with this house, we were selling ASAP in order to scrape together a down payment and increasing our mortgage by as many years as we could.

But, this house was a house to grow into. A house to send roots down into and create memories that span years. Sometimes, I wish we had bought The House two years ago. But, two years ago, I was assuming The House wasn't going to be anywhere close to the city. Oh, how we change.

When we threw our offer in - asking, all we could manage even though our realtor warned there likely wasn't a point if we couldn't find another few $10,000 - there were 4 others. When we last heard from our realtor around 8:30 last night, there were 8. We sighed, let our dogs out for their last pee before bed and turned in. Needless to say, our little white bungalow is not going on the market just yet.

And, this is where we're at: we're looking for that house that could be the house to grow into. The house we're willing to stretch for. We may not find it in the next couple weeks. We may not find it in the next couple months. It may take us a couple years to find it. Unless we find that house, or come across another real estate investment venture that will be worth it, we're staying put.

It's been a stressful, distracting couple of days. I'm looking forward to going back to normalcy.

9 comments:

  1. Oh Im sorry it didnt work out again! The Toronto market is insane and depressing that way :(

    I say you two actively save extra pennies so that when the opportunity comes up again it WONT be a stretch and you can throw down that extra $10k like youre big pimping

    FYI- living next to a park? heaven! I live near one too, with an off leash dog park. Perhaps come over my way and get a teeny condo? :)

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  2. At least you tried. We found the perfect house a year and a half ago. Our lender and real estate agent were both very negative about it working out for us, so assuming that they were the experts we didn't bother putting in an offer. I COMPLETELY regret not trying. So, good for you giving it a shot.

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  3. It must be so frustrating! But it is worth it to keep on putting in offers that are in your price range. You seriously never know what the others are going to offer. We too had 8 offers on our place but only three were really in the running. It's the selling agent's job to get the best price possible, but don't let them psyche you out.

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  4. The real estate game is truly one of the most stressful things we've gone through lately. I think it's hard to understand just how competitive it can be if you don't live in a major metro city. I have friends who are like, "I don't understand ..." And they can't. But I hear you. I understand the multiple bids, and the feeling of being out of control of your own destiny. Eventually you guys will find what you're looking for and it'll be great.

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  5. Good luck dear. I know its frustrating but everything happens for a reason! The right house will come along soon! I'm terrified of the Toronto housing market....ahhh.

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  6. We are in a similar boat, however, there are a lot more options. We're listing our little white bungalow tomorrow (or today!!) and I am so worried about being able to sell. I don't know how it works in Canada but where we live, a selling clause sometimes can hurt your offer.

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  7. It sure is difficult to find a dream house, the real estate never remain the same, the ups and downs can be very troublesome.

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  8. Excellent tips. Really useful stuff. Good job...Keep it up.Sharon Bush

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