Regretting Home Purchase

[melagras]

I was just about to say that it sounds like you've got a money pit and not a budgeting problem.

How much of a hassle/pain/financial inconvenience would it be to just cut your losses and sell as is? Not sure where you are so the housing market might not strong enough for you to get out at a level that works for you. But it might be worth considering...unless you really love the house.

I don't think the price of the house when I bought it was overinflated. But on the other hand, I don't have that much equity. I'm not sure I could pay 100% of closing costs like most buyers expect.

I'm seriously considering fixing what has to be done in order to pass an inspection and getting rid of it.

 

[Faithnveggies]

I think it is very difficult to ascertain how solid a home is and the older a home is, it just doesn't matter, it costs money to maintain. Paint siding roof plumbing electric appliances yard crab grass dead trees oh my. When I got into my condo (after house) I compared my new HOA with what I "should" have been spending to keep my former home up and figured its worth it to have so much less responsibility and in the long run is less than I would pay for replacing sprinklers, painting, roof, etc.

Maybe just resign yourself to maintaining the best you can and try to love it as long as you are there (I got to where I felt terrible in my home b/c it was like Lilly and Herman Munster's house compared to my neighborhood)

Or look for "handy around the house" boyfriend on POF. To me, attractive is funny cute and smart but really hot guy can fix the leak under my sink, lol. good luck

 

[TRG]

I think you should cut your losses. The problem with your house is structural. It's costly to fix and a big turn off for buyers. As a homeowner, you should expect some repair and up keep cost. Not leaking plumbing that seeped through the walls/ceiling. The resulting mold could be very dangerous...

 

[eminenz2]

When I started teaching, apartments were too expensive on a new teacher's salary so I rented rooms in houses for a number of years before I married my husband. Is this something you could consider to help you keep up with the cost of house repairs?

 

[melagras]

When I started teaching, apartments were too expensive on a new teacher's salary so I rented rooms in houses for a number of years before I married my husband. Is this something you could consider to help you keep up with the cost of house repairs?

No way. I don't like sharing my space with anyone.

 

[expatter]

I think there's something to be said for being open to getting out before things get out of control. My DH and I should have sold our house a few years ago due to a change in our finances. He adamantly refused and we began to not be able to keep up with the maintenance -- nothing major, but lots of little things and I lived in fear of something big happening that we wouldn't be able to fix.

Sometimes you need to be able to walk away while you can before you sink everything into a house and don't have the options that you did.

We're in the middle of a divorce right now and he's STILL trying to keep a house that he can't afford!

 

[gettingfitmom]

We've been fixing up/repairing our 123 year old farm house for 23 years now...everytime we think we can breath a little, something else pops up. Right now we have two windows that leak like sieves when it rains. I hear you!

 

[bethj]

Might be a good idea to get an inspection from a PE (professional engineer) to see just how bad this house is and how much it would take to fix it. It sounds like it might be a lemon you need to get rid of.
Beth

 

[melagras]

Might be a good idea to get an inspection from a PE (professional engineer) to see just how bad this house is and how much it would take to fix it. It sounds like it might be a lemon you need to get rid of.
Beth

Funny you posted this because I was planning on finding someone for an inspection.