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Need opinions...We found a house we fell in love with..."lost" it and now it is back in the picture...

It was a little pricier than we wanted, but we figured with today's market, the amount of time it has been on the market, & the fact that the home had been in the family for so long, that we could offer around our price range & it would be accepted. Then other things started to surface, such as the original listing price was much higher than it is now & the sellers, although the home has been in the family for many generations, do have a mortgage because of renovations. Basically, they were not able to budge very much on the cost, though they do really like us because of a personal letter we wrote..we actually walked away. When we walked away, we were DEVESTATED, but we started to let go, realize it was over and we kept looking, never really finding anything we loved quite as much. Now they have come back to us, they did budge a little...but it is still on the pricy end of our budget. We can do it, but it would be tough. If you were in our situation, what would you do? I am not looking for smartass answers...we are truly torn and are just looking for other peoples' opinions and insight as to what they would do if they were in our shoes. Would you struggle financially (knowing you would be able to make ends meet) or would you keep looking for something else? Yes, we have an agent. She has given us her opinion...we are just looking for more. :) Let me throw something else into the mix...what if you have the potential to be making a lot more money than you are currently in the next couple of months...you aren't completely sure about it, but it is a possibility. Would that change your opinion? Discuss. :)

2 months ago - 6 answers

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Chosen by Asker

Personally I would keep looking. If you were going to struggle to make ends meet then don't do it. You don't want to be house poor, because then you will be miserable. Money is one of the #1 reasons for divorce.

by scmommyof2

2 months ago

Asker's Rating: 

Other Answers

do you have a real estate agent?

by Patricia E- 2 months ago

If I cold not afford it COMFORTABLY I wouldn't do it. There is no way I would want to have to struggle/do without because I bought something I could not afford.

by Just say no!- 2 months ago

One of the primary reasons for the current subprime mortgage fiasco is that a large number of buyers purchased homes that required mortgage payments in the neighborhood of 50%+ of their income. At the time, they justified these purchases because there was the "potential to make a lot more" by way of ever-increasing price appreciation. Don't buy based on "potentials." Buy based on what you can reasonably afford.

by Mr Placid- 2 months ago

I would buy it. It is obvious that you LOVE this house, not just like it. You will always dream of it and regret it if you do not bring your family into it.

by Janet P- 2 months ago

The "possibility" of more income wouldn't phase me in the least because I would never stretch myself so thin financially to need it to survive. Don't worry what they paid for it, what they owe on it or how dewey-eyed they are when talking to you. Never let emotion take over your finances. Don't forget THEY came to YOU this time. I would stand firm on the final offer I made before unless there is some way for them to sweeten it up significantly.

by estielmo- 2 months ago