View Full Version : So, I go away for two days and DH buys a house
This is not much of an exaggeration, so I'd like your thoughts.
DH has been moving closer and closer to the idea of selling BOTH houses and moving to VT. I think he is sensing that that's what I would like to do (while I'm still not 100% sure that's true).
Last year I found a little cottage in a very up-and-coming community near Burlington VT, right on Lake Champlain. It was $190k, and it had a dock, it was adorable, and it even had a little "guest house" (a teeny thing, but it does have electricity. I actually went to look at it when I went up for DILs shower in September, but I decided it was too much in the woods--I wouldn't be able to garden, and it really was a seasonal property. No way to live there all year even if I wanted to.
It went off the market; I assumed they sold it. But lo and behold, it's on the market again for $10k less. Now I'm thinking, sell both houses, get rid of debt, and buy this little house that's on the market for half of what my house is worth. I'd have cash to maybe rent in the winters somewhere (like my favorite town, Ocean Grove) and we'd own a little cottage on a lake with a dock in a really desirable town outside of Burlington.
So, I leave for business travel and DH gets on the phone with a real estate agent and now she's putting in an offer for $162k.
What say you? I'm feeling like this is just absolutely crazy, but who knows?
ApatheticNoMore
5-5-16, 7:26pm
A house you can only live in 1/2 the year ... yea think about how practical that really is (I'm thinking it would get real annoying real fast unless it was purely a 2nd house). And shouldn't at least ONE house be sold before you buy another one? Or are you like that guy in the article? :laff: How many houses will you have debt on if you bought this one anyway? 3?
Ok you know I don't own any houses of course :)
A house you can only live in 1/2 the year ... yea think about how practical that really is (I'm thinking it would get real annoying real fast unless it was purely a 2nd house). And shouldn't at least ONE house be sold before you buy another one? Or are you like that guy in the article? :laff:
Ok you know I don't own any houses of course :)
You are right in that I would NOT buy a house until at least ONE is sold.. BTDT and and paid the "stupid tax" in spades. Given that, I don't know if it's even realistic to proceed, honestly. But DH is never very realistic. I was just wondering if we COULD pull it off, is it potentially a good idea. As far as just being able to live in it half a year, I really wouldn't mind renting in Ocean Grove for the other half of the year. Beach winter rentals in OG are dirt cheap.
Williamsmith
5-5-16, 7:35pm
I don't know about advice but I definitely want to see how this turns out.
Okay so I went through this in my own mind when I sold my house. I had a chance to buy a place before I sold my house but the thought of owning two places with its associated taxes and maintenance gave me pause. So how do you manage selling two houses after you have moved into your new place in VT?
I don't know about advice but I definitely want to see how this turns out.
Okay so I went through this in my own mind when I sold my house. I had a chance to buy a place before I sold my house but the thought of owning two places with its associated taxes and maintenance gave me pause. So how do you manage selling two houses after you have moved into your new place in VT?
Yeah, see my reply to ANM. I would only buy a new place IF I could unload at least one house first. I would pay cash for this house, that's for darned sure. I'd be a damned fool to do anything different.
ToomuchStuff
5-5-16, 7:50pm
I know you can make an offer that is pending the sale of your house. I had family that did that, and when an all cash offer came up, they were given the right of first refusal (come up with x, within so many days, or let it go). Their house was paid off, so they would have only had one mortgage, but were worried about upkeep, etc. so they let it pass.
Turned out for the best, as that was really a lateral move, and they later found an all one level house (potential issues, with stairs).
What is the housing market in town? Know of anyone that lives at the lake year round; or are they building up around the lake? (sometimes it builds up to a year round area)
I was thinking the opposite, that's a steal to be on a lake near Burlington. I'm biased because I love it there but if I could offload the houses, buy the Burlington property and winter in Ocean Grove I would be a happy girl.
iris lilies
5-5-16, 8:08pm
I dont see that you taking on any more debt is in any way remotely rational.
So, DH is paying cash for this house? From want funds? Did he rob a bank?
Buy houses in haste and repent at leisure or a variation of the old saying. It is a bad idea in MHO to ever have too many liabilities gong on at at once. Would you stop if the offer is accepted and yours doesn't sell right away?
FWIW, I think it is a bad idea in general to trust that suitable rental properties are readily available to go with a seasonal dwelling. I would be deeply distressed that my partner made a financial move without my knowledge and informed consent. Neither of us ever did that to one another.
I get bad vibes just thinking about it.
I dont see that you taking on any more debt is in any way remotely rational.
So, DH is paying cash for this house? From want funds? Did he rob a bank?
No. Again, I would NOT buy it if I hadn't sold at least one house if not both and I would not take on more debt to do it. That's for sure. As far as DH goes, he hasn't done anything undoable. And he's like that. He's impulsive and I'm rational. Kind of.
My big question is whether the two of you really talk to each other? But I come from a family that discusses goals on a regular basis, has financial meetings to go over income and expenses and has some special agreed upon rules like discussing and agreeing on any purchase over $500.
How do people stay married if they talk to each other that much? ;)
iris lilies
5-5-16, 8:50pm
I dont understand how you can afford a vacation house.
It seems to me without knowing details that your DH is out there spending the money fron MIL house before you guys even have it. I would bet this is always what he does, spend money that is in front of him.
Here is when you can afford a vacation house:
1) all debts are paid--you owe $0
2) You have enough money in a retirement account that it, plus the Social Security income from both of you, is adequate to pay for both your regular dwelling and a vacation dwelling--in other words, you're have a strong income stream that is NOT coming ng from your work
3) you pay cash for the the vacation dwelling after all above conditions met
OP:
Let's forget about logic and finances for a moment. Describe your feelings about this how situation.
ApatheticNoMore
5-5-16, 9:17pm
Also rents could go up on whatever you plan to rent right? So every year it was more for the rental part of the year? It's a risk that goes with renting, but it usually doesn't come along with also buying a house.
iris lilies
5-5-16, 9:22pm
How do people stay married if they talk to each other that much? ;)
It is difficult. Just this morning I tried to instigate a "no talking before 9am rule". I wont tell you why other than he was driving me nuts. He said I was worse, however. :)
iris lilies
5-5-16, 9:41pm
No. Again, I would NOT buy it if I hadn't sold at least one house if not both and I would not take on more debt to do it. That's for sure. As far as DH goes, he hasn't done anything undoable. And he's like that. He's impulsive and I'm rational. Kind of.
Sorry, I just skimmed this thread after the title. I think the idea caused my brain to short circuit.
I don't think we have ever purchased anything over a few hundred without both agreeing to it. I would be quite upset if my husband did this without my knowledge. In fact, I would refuse to cosign. If it were dependent on my income then it wouldn't happen with my cosign,
Although debt in a marriage is legally shared, so it still would make me angry,
catherine, understanding and respecting that different couples have different comfort levels with financial decision making, I'm going to set aside the "how I would feel if my spouse did that" (which is probably extra good, since I don't currently have a spouse, lol) and begin to explore your out-of-the box thinking about buying this property.
I disagree with most of the other replies, for several reasons. First, I think it's great that your DH is now willing to explore living elsewhere, instead of staying stuck where you are. Second, something about the place makes your heart sing; that's important, don't ignore that. Third, you mentioned it being "a very up-and-coming community". To me, this looks like $$$, i.e. possibility of profit in the not too distant future. So if you want to enjoy it for a while, then sell it, it could very well work in your favor.
My now long-ago ex would not take any risks; there were a possible 3 in as many years that we ran across. I could see the potential in all of them, and all he felt was fear and doom. 25 years later, those 3 combined are worth about $6M. Yes, it would have been a stretch for the first- a $70,000. condo that now sells for $2.7M- but the next 2 could have been leveraged.
But it takes a certain comfort with risk to do those things. And many people will tell you not to take financial risks as you get older. My personal philosophy is sort of, like, there are no guarantees anyway. Do what makes your heart sing, you can be flexible enough to make changes as needed or desired.
(ok, please, everybody else, don't throw too many stones as me, lol)
Chicken lady
5-6-16, 6:50am
As you have already said you would do this contingent on your house sale, how do you feel about living in that place and that way? Because you are the one who has to live it. Is there some other option you'd rather explore now that moving appears to be on the table?
iris lilies
5-6-16, 8:36am
catherine, understanding and respecting that different couples have different comfort levels with financial decision making, I'm going to set aside the "how I would feel if my spouse did that" (which is probably extra good, since I don't currently have a spouse, lol) and begin to explore your out-of-the box thinking about buying this property.
I disagree with most of the other replies, for several reasons. First, I think it's great that your DH is now willing to explore living elsewhere, instead of staying stuck where you are. Second, something about the place makes your heart sing...
But it takes a certain comfort with risk to do those things. And many people will tell you not to take financial risks as you get older. My personal philosophy is sort of, like, there are no guarantees anyway. Do what makes your heart sing, you can be flexible enough...)
To addres s the bolded points:
yay! Agreed, its great that getting out of the big houses with giant tax bills is a possibility with catherine's husband. Other possibilities can now be explored.
Catherine already looked at the place and decided that trees and woods impede her gardening dreams. I'm pretty sure there are places out there that would accomodate a large garden and make her heart sing. Remember, she didnt put the offer in on this house, she didn't sign the contract..
It seems to me that "being flexible" and taking a risk means a good chance here that that Catherine will continue to be working working working into the next decade. Maybe she's ok with that. We are her age, we have extra real estate that is not good investment (ie we took a risk) and that we will lose money on, but since all of our real estate holdings total less than 20% of our net worth, we can take that risk even at our age and be ok.
Williamsmith
5-6-16, 8:48am
I haven't thought of the right way to express it but I'm certainly leaning toward iris lilies take on it. I don't know if she'd call it a healthy skepticism or looking reality in the face. What troubles me is the family/relationship dynamic that allows or expects one person to wade into major life changing actions like buying and selling multiple house, moving great distances and adopting living arrangement theories without a thorough discussion from both parties. Maybe you have had that and I'm not getting it here, or maybe this is comfortable for you. Totally lost on that.
Just me but it took me many long walks and discussion with my wife before our house went up on the market and another one was chosen.
The finances......that's another topic I think I can't put myself in those shoes. You got to go with intuition here as well as the facts but not get too bogged down by making the perfect decision.
Some relationships have a "manager" and a "managed" party.
Maybe Catherine's husband is the manager in the relationship and he makes the executive decisions.
Everyone's relationship is different.
When I was married I was the manager in the relationship. I had to make all the tough choices almost entirely on my own.
Some people tend toward inertia. So they need an external force to get them to move on anything. Such was the case with my ex-wife and several of my ex-girlfriends.
I did not like being the manager in the relationship. It is a great responsibility that I feel is best (for me) to share. But others may feel differently.
OK, I finally got a report out the door so I can take a moment to respond to all of your great, caring responses.
mschrisgo2: thank you, Yes, you have it right, it does make my heart sing. The emotional sell for DH and I is this: Coincidentally, we both had very similar summer upbringings: me with my beloved great-aunt on the shore in CT, and he with his Scottish aunties and uncles in a little bungalow in the Rockaways, LI. We both have extremely fond memories of our summers at our respective cottages, and we always hoped we could provide the same experience for kids/grandkids, but that dream really seemed to be beyond our grasp for YEARS because of the shoreline market and our own financial disasters.
So here comes a little "On Golden Pond" place (as DH is starting to call it) and the door cracks open a bit to explore our dying dream.
IL: I laughed so hard when I read your responses, because I KNEW your head would explode with my question! Not to say I don't take your advice seriously--I definitely do because I need a good reality check.
HOWEVER, please understand that IF (and it's still a big IF) we go ahead with this, it actually IMPROVES our situation financially. Here's how: Basically we sell BILs home and it's almost a one-for-one trade for the new place. So instead of having one house next door that i get NO pleasure from, I now have a house that I can enjoy 7 months of the year.
DH IS emotionally letting go of our own home, and if we sold our NJ home, we would pay off the mortgage and the debt. Now we're debt free. The money I make from working goes right into a winter rental somewhere (either OG, or DH is talking about Blue Ridge Mts in NC) and I can save up money for another small home in maybe 4-5 years and build retirement savings.
Honestly there are so many ways to slice and dice the pros and cons, and I have to do some serious soul searching.
But it sure is tempting.
BTW, I manage the money, ULA. You know the saying "In the land of the blind, the one-eyed man is king"? Well, from a financial standpoint, I'm the one-eyed man, and DH is blind as a bat.
I may have missed something. Why only 7 months a year?
I may have missed something. Why only 7 months a year?
It's a cottage, uninsulated, and they turn off the plumbing Nov 15.
Forgive me if this has been addressed already, but can you morph it into a full-year place?
Forgive me if this has been addressed already, but can you morph it into a full-year place?
I don't think so, and I'm not even sure I'd want to. I can think of better places to be in January than on Lake Champlain.
I don't think so, and I'm not even sure I'd want to. I can think of better places to be in January than on Lake Champlain.
If you can afford to snowbird then go for it!
As I am in the process of selling my house right now, I will bring up something that I had no idea would be so daunting. All of the reasons for moving that we dreamed about like improving our financial state and being able to both retire are now sitting on one side of an imaginary scale with seller's remorse on the other side. If you have been in your current house for more than a few years, the attachment will test your will. In your imagination, you are all happy in the new spot but I will remind you that the selling and moving process especially at an older age is a major life stressor. But maybe you are made of hardier stuff than I am.
As I am in the process of selling my house right now, I will bring up something that I had no idea would be so daunting. All of the reasons for moving that we dreamed about like improving our financial state and being able to both retire are now sitting on one side of an imaginary scale with seller's remorse on the other side. If you have been in your current house for more than a few years, the attachment will test your will. In your imagination, you are all happy in the new spot but I will remind you that the selling and moving process especially at an older age is a major life stressor. But maybe you are made of hardier stuff than I am.
Thank you... I appreciate your perspective, and I agree that giving up our home would not be a cake-walk, no matter how attractive the alternatives are. We've been here 30 years. Our DIY handiwork is everywhere. Memories of our kids are like ghosts swinging on the swings in the adjacent park. On a practical level, to carry out my plan, I'd have to go UltraLiteAngler style and get rid of almost everything.
My DH still doesn't understand why our kids are not attached to the house--they're the ones prodding us toward greater freedom. I was teasing him this morning with visions of him being like Scarlett O'Hara's father, gripping a fistful of dirt from our back yard yelling, "Do you mean to tell me that [45 O*** Dr] doesn't mean anything to you??"
But seeing they are not crying themselves to sleep over the prospect of never claiming this little spot of dirt in NJ, he's feeling more ready to let it go.
iris lilies
5-6-16, 10:43am
...
HOWEVER, please understand that IF (and it's still a big IF) we go ahead with this, it actually IMPROVES our situation financially. Here's how: Basically we sell BILs home and it's almost a one-for-one trade for the new place. So instead of having one house next door that i get NO pleasure from, I now have a house that I can enjoy 7 months of the year.
I will try to be gentle here. Your financial situation is not improved in any way with the purchase of a lake house.
You have $160,000 sunk into your MILS' house next door or you have $160,000 sunk into a lake cottage. Neither are conscious financial investments, neither generates income. Perhaps the lake cottage is cheaper to run (it's gotta be less in taxes, NJ is brutal in that regard) but I doubt it because boats will have to be purchased along with lake enjoyment equipment and maintenance and etc. Perhaps the NJ property escalates in value at a higher rate than the lake property and then you are net negative.
The rest of it, where you rent for 12 months of the year, will be the deciding factor in your finances. If you go really really cheap--maybe you will come out ahead. Maybe.
So, I am glad you are taking all of this like a good sport. Moving to VT would be a fine adventure, there are many options there. I think moving close to most of your children is cool, just remember that they may pick up and leave later. but chances are that at least one of them would be around. It's great that your family is so close!
Wow, 30 years. We have only been in this house for 16.
I think too we have to be realistic about the fact that we can't keep up with maintenance on a 60 yr old house and 1/3 acre yardwork in years to come.
I now have two offers sitting on my table to consider; it is real now so we have to make the choice. Gulp.
I will try to be gentle here. Your financial situation is not improved in any way with the purchase of a lake house.
But if you take into account the Grand Plan to sell both houses, my financial situation gets better--that's what I meant. I totally get that just transferring one real estate asset to another doesn't do me any good at all--in fact you are correct in that I incur other expenses, such as property taxes, which I don't pay on BILs house, obviously he pays those.
So it's either all in or nothing when it comes to the NJ homes. And honestly, even as we speak DH is prodding me to talk to this real estate agent, and I'm putting him off because I'm just trying to recover from my travel this week and I'm not in the mental state to think clearly. To be continued.. it's a lot to think about.
iris lilies
5-6-16, 11:01am
But if you take into account the Grand Plan to sell both houses, my financial situation gets better--that's what I meant. I totally get that just transferring one real estate asset to another doesn't do me any good at all--in fact you are correct in that I incur other expenses, such as property taxes, which I don't pay on BILs house, obviously he pays those.
So it's either all in or nothing when it comes to the NJ homes. And honestly, even as we speak DH is prodding me to talk to this real estate agent, and I'm putting him off because I'm just trying to recover from my travel this week and I'm not in the mental state to think clearly. To be continued.. it's a lot to think about.
You are right! And I edited my post at the same time you wrote this post.
If you truly do rent some place cheap for 12 months of the year, it is possible that your financial sitch is improved. Agreed!
Ultralight
5-6-16, 11:09am
Would living at the VT Lake House make you happier? Would it make your life simpler? Easier?
Beware of the buyer's high. People who like to buy stuff, especially impulse buyers, get this wild-eyed look and a burst of pleasure at the idea of buying something and at the act of buying it. They seem to be under a spell. They are so charmed by the idea of the item that they think it will magically solve many problems in their lives.
But then it doesn't. So they move on the the next purchase and the next buyer's high.
Could your husband be caught in such a samsara? Could it be so strong that you are within its gravitational pull?
chanterelle
5-6-16, 11:52am
"We've been here 30 years. Our DIY handiwork is everywhere. Memories of our kids are like ghosts swinging on the swings in the adjacent park."
"My DH still doesn't understand why our kids are not attached to the house--they're the ones prodding us toward greater freedom"
All financial logistic and debt repayment plans aside, I am curious..... if your children have no interest or attachment to the house that they grew up in...one that holds so many memories to both of you, what makes you think that they have any interest at all in your "On Golden Pond" memories, those, of a childhood they never lived, that you and your husband seem to want to recreate for their benefit??
Perhaps you need to have a discussion with them about your legacy aspirations vs their dreams and what if anything this will mean to them before you make any emotional financial decisions based on your feelings about their future store of memories
Ultralight
5-6-16, 11:59am
"We've been here 30 years. Our DIY handiwork is everywhere. Memories of our kids are like ghosts swinging on the swings in the adjacent park."
"My DH still doesn't understand why our kids are not attached to the house--they're the ones prodding us toward greater freedom"
All financial logistic and debt repayment plans aside, I am curious..... if your children have no interest or attachment to the house that they grew up in...one that holds so many memories to both of you, what makes you think that they have any interest at all in your "On Golden Pond" memories, those, of a childhood they never lived, that you and your husband seem to want to recreate for their benefit??
Perhaps you need to have a discussion with them about your legacy aspirations vs their dreams and what if anything this will mean to them before you make any emotional financial decisions based on your feelings about their future store of memories
This is actually some insightful stuff here.
With that I would add: A great skill that few develop or even talk about is letting go.
Letting go of the house with all the memories...
Letting go of "On Golden Pond" dreams...
Letting go of what we think others want or others should want...
This is a difficult but infinitely helpful skill: Letting go.
iris lilies
5-6-16, 12:08pm
This is actually some insightful stuff here.
With that I would add: A great skill that few develop or even talk about is letting go.
Letting go of the house with all the memories...
Letting go of "On Golden Pond" dreams...
Letting go of what we think others want or others should want...
This is a difficult but infinitely helpful skill: Letting go.
I remember that my mother wanted to buy for me a plot of land where she and my fafher had a small vacation house. It was near a lake but not on a lake.
I was horrified at the idea and the god-awful implications of it for my life. No, mom, I do not want a place in West Yahoo, Nowheresville, just because YOU enjoyed being there. Simply keeping the place mowed would be more chit than i could contemplate.
Fortunately, my family is made up of rational people and when I told her thanks, but no thanks, she believed me. No hard feelings ensued. She gave me $5,000 cash instead and I have never regreted that. I have always preferred cash to real estate, thats how I am wired.
I guess that in my mind I am a gypsy and would like to use the cash to visit the wide world. But in reality, Im pretty much a home body. In fact, I just last week told my friend that our tiny houses are our vacation property because we get away from home there, but we only have to drive 5 minutes to do it. We are close-in travelers, I guess.:~)
Ultralight
5-6-16, 12:28pm
Fortunately, my family is made up of rational people...
This is priceless! You are fortunate.
OK, I will try to be gentle as IL has done.
We bought our dream place, a farm with a beautiful woodlot building a simple practical home, living in it for a total of 23 years but when DH got ill, life changed dramatically. When he passed away, life changed even more. I thought about it a lot and developed 15 questions that would enable me to live according to new dreams. My realtor helped me, friends guided me with great insights and advice and family supported whatever choices I finally made. I was asked if I was moving nearer my children and said, "No". When the time comes that I require full-time care, I will move wherever it seems best. I love my community, my family enjoys visiting me and are familiar with the services, know all my professional support - accountant, lawyer, etc and I set up all my financial affairs so that the transition to power of attorney or demise would be painless as possible.
These were the 15 questions in no particular order that a property had to have for me to be interested and meet my needs for the next 25 years.
- natural gas heat,
- AC
- two car garage for storage and parking my car
- small lot
- special part of a small town close to all services
- 3 bedrooms
- one floor floor plan with full basement
- high grade lot to avoid flooding and drainage issues especially a sump pump
- paved driveway with no sidewalk to maintain
- brick and low maintenance exterior
- new house by local reputable builder
- gas fireplace
- living room window looking into back yard
- fencing already done by neighbours and preferably chain link
- a built in pantry
When I walked into my first viewing of any house with my realtor, I checked off each question. The first house was perfect! I made an offer that was accepted with a little negotiation. I knew what I wanted, the realtor knew what I wanted, and I love, love, love my new home. The neighbours have beautiful large spruces that shade my backyard in the afternoon, trees loaded with birds, winter and summer, and the yard is manageable every season and when personal issues require it, I will be able to afford to hire the maintenance.
Think about what might happen in your life in the next 20 years, get your DH to do the same. Jointly, make a list of questions that you want answered or requirements met in your next real estate purchase, examine your whole financial picture realistically and then, only then, call a realtor.
You will have peace of mind, your children will know that you are in control of your life and they can relax knowing that if and when they are needed, they will know what to do. It is the greatest gift that you can give both yourself and your family.
I will make no further posts on this thread.
Thanks, razz, IL and everyone else who wanted to slap me upside the head but decided to take a softer approach :)
I loved your story, razz, and I think that's very good advice. I don't like to say things like this out loud because "mocking's catching" as my MIL used to say, but I probably will outlive DH as you have done, so I do need to factor that possibility into the equation. IL, I know why you are so attracted to MMM--didn't he iron dollar bills when he was a kid? I picture you doing the same. It's not a criticism at ALL, God knows. It's just funny how we all are wired differently. To you, money is very, very real and to me, it's almost illusory. I feel like if I have 1,000 in the bank or 10,000 or 100,000 it's all the same because today I can eat so it's all good. Of course, if I didn't have a job, I'd probably think differently about that. At the same time, I try to be practical and strike a balance between cautious optimism and fear.
I truly need to take all of your comments and insights and meditate on them, but my gut is telling me that it's a wiser move to take one step at a time, and step 1 is, get rid of my BIL's house. I think of the story of the fox and the grapes, and I don't want to be the fox with NO grapes at the end of the day.
Teacher Terry
5-6-16, 2:05pm
Are you kidding me? I would strangle him with my bare hands. Was the offer made contingent on selling one of your homes? If they accept without countering it would leave you in a pickle if the offer is not contingent although probably you couldn't get a loan anyways. I worry about you guys because at your age anything could happen where you won't be able to work anymore. I used to see it all the time in my old job. I don't think you guys can afford 2 homes or to live in 2 places. I would pay cash for a small place that you can live in year round. My family had a cottage on the lake as did my ex's but when my ex's dad wanted to give it to us we said no. Sure it was fun to be there but we didn't want the work or expense associated with it. If you could not work tomorrow due to health would you be able to live on SS alone? If not yu need some $ in the bank to supplement your income. I am more of a risk taker then IL but not this much. Hugs:))
The other thing that no one's mentioned but which leapt out at me is the practicality of living near lake Champlain and working. I know you work from home doing consulting, but I seem to remember that you have to do a fair amount of travel for work. There are most likely a lot more direct flights to wherever it is that you travel to for work from EWR than there are from BTV. The additional travel time or extra nights away from home if you can't get somewhere early enough in the morning may or may not matter to you. For me, a person who travels rougly 20 weeks out of the year for work, this would be a major consideration.
By any chance is this cottage in Mallet's Bay? My grandmother grew up there. I'd selfishly love to have someone to visit there some day!
By any chance is this cottage in Mallet's Bay? My grandmother grew up there. I'd selfishly love to have someone to visit there some day!
It's actually south of Burlington in Charlotte--not north in Mallet's Bay. However, we let this one pass. I think it already has another offer on it. When/if we're ready to buy a place on a lake, we'll probably include Mallet's Bay in our search. I'd love to hear more about the community.
At the end of the day, in addition to points raised by the wise advice on this forum, I just don't feel the timing is right. We may not sell BILs house for months, and I'm not going to put myself in that position again of having two houses on my hands (and in this case it would be three--my own, my BIL/DHs, and the lake house).
DH is really disappointed, but I told him that this house is not the only waterfront house in the world, and we have things we have to attend to first.
Teacher Terry
5-15-16, 4:00pm
I think that was a wise choice. sometimes when something we really want does not work out something much better takes it's place or the universe intervenes and we get it anyways. The house we live in now was up for sale 6 months before we were ready to buy. I kept seeing it on the internet and it looked from the pics move in ready. WEll the sales kept falling through over and over again. Fast forward 6 months later it is back on market again and we go to see it and it is a disaster inside. They were asking too much $ . It turns out that after getting an inspection the buyers kept dropping out. So a few days after we see it the bank drops the price really low and says it would take the highest and best bid which meant all cash, no inspection, bids within 24 hours, etc. Since my hubby is a civil engineer we didn't need the inspection. Total of 7 people bidded. We decided to go higher then we thought most people would go and still got a great deal. So for 2k extra we got the house we had wanted at a cheaper price then 6 months before.
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