Home Buying Disaster Averted

In response to a post that I wrote awhile ago about my thirty year old home having thirty year old problems, I received the following e-mail from a reader.  With her permission, I am sharing her story today.

Here is a near-miss where my husband and I almost made a horrible snap-judgment decision.  We were looking to buy a house and had been looking for awhile.  Our "preapproved" status was about to run out and we would have to start all over again with the credit checks, etc.  We could not find a house that we liked.  We did run across this 50 year old completely redone home that was very cute.  Everything was great except for the bedrooms were tiny and the heat and air conditioning had not been upgraded.  We thought this house was great, but we would have to spend money getting a new AC and pave a long driveway to the road.  The sellers would not budge on the price (they were flipping the house).  Our Realtor talked us out of purchasing the house.  She said we were going to sink money into the house that we did not have, they were asking too much for the house, and the bedrooms were too small.  We kept saying, "But this … " and "But that …" and we did not want to go through another preapproval stage.  She assured us that we had "time" to still find something.  So, we found the perfect house, but we prayed hard about it.  I think this was God's decision, not ours.  We would have paid more for a much older house and would have spent at least ten grand out of pocket for a few upgrades.  I am glad we pondered!

I tell you what, I have had house fever before too.  Left unchecked, it can lead you into making some poor financial decisions.

Have you ever experienced house fever before?  What did you do to control it and ensure you made a great, well thought out purchase? 

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2 Comments

  1. Brandy Hardy on July 11, 2008 at 6:52 am

    I would like to know who the realtor was. My Husband and I will be house hunting pretty soon and would be great not to have a realtor just trying to make the sales!



  2. Dawn Kerr on July 11, 2008 at 4:46 pm

    We had a similar experience. When we were first married, we looked at buying a house, thought we found a perfect one and then excitedly told some friends. Thankfully, they were older and wiser and “talked us down.” In hind sight, we would have gone bankrupt trying to buy that house. Thank God for wise friends.



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