March 25, 2011
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Let's Talk Real Estate
When you talk life and money, real estate comes up eventually. In the journey to debt free, real estate can make you or break you.
What have we learned?
(How nice of you to ask.
)
A wise friend told us, "You make money on a house the day you buy it not the day you sell it. So, buy low." With that in mind, in the fall 2006 we set out to buy the ugliest house in the nicest neighborhood for the lowest price. Weird, I know.
We paid less than a hundred in a market where the median house was $150,000. We painted, we cleaned, we scrubbed, we fixed the broken stuff, we cut back overgrown bushes, and mowed the yard. Wow! What a little elbow grease can do for an ugly house. In early spring 2010 we sold and now we're doing it all over again.
Here's what we've learned so far:
1. Buy low.
2. Before you make an offer, visit the tax assessor's office. The records are public and with just a physical address you can find out when the current owner bought the house and how much they paid.
3. House inspections are worth every penny.
4. Don't house hunt with your emotions. Set them aside and think practical.
5. Don't overdo the upgrades. You'll never recover the cost of an in ground pool. So sad, I know.
"I have learned to be content whatever the circumstances. I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want. I can do everything through him who gives me strength." Philippians 4:11-13
We're all guilty of thinking, if only I had a bigger house? If only I had a walk-in closet, a bigger yard... if only we had another bedroom, another bathroom, a bigger kitchen...
Philippians 4:11-13 is a reminder to be content. If we pray for a little creativity to go with that contentment I think we'll be surprised by what we can do with what we have!
How has creativity made you more content with your home?
Comments (2)
We have learned the same things you have. We have moved around 14 times in 36yr. We always but the ugliest house and fix it up. We love fixing them up. We are now living in the smallest house we have ever lived in and I could not be happier
I agree, although we plan on staying put in our house. We purchased my husbands childhood home from his parents about 9 years ago. I personally wouldn't want to pick up and move several times over, but I am always amazed at the process. Maybe when our children are older and out of school. ☺
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