Our decision to buy an older home.
Updated: Sep 23, 2019
The age ol' question-to build or to not build! Recently we sold our home in only 12 days and we have pondered this question for a while. We took the first offer, over 12% below asking price and we did not even bother to negotiate a counter offer because we were afraid of having the home sit on the market past the Spring-the best time to buy. We also sold our home after meeting with a builder who had promised us they can deliver what we had asked for. When we were sure of that, we proceeded to find a dream lot to built on right outside of the area we were in.
It was like a dream-too good to be true- our friends and other professionals in the field have told us. And, had we listened our guts and our hearts, that have always taught us if it is too good to be true, than it can't be, then we would not have been in the dilemma we soon found ourselves in. After seeing a few of this builder's homes, my heart sunk a bit. I thought the quality just was not there. I thought to myself; I can work around this by choosing higher end flooring, cabinets, etc. But, after visiting a home that was practically new, I knew immediately we had made a big mistake. However, I thought I can continue to work with this builder since the price was right for the square footage and they really were wonderful and seemed fun to work with.
Before we made any other rash decisions, we thought we should meet with a few other builders for cost comparison on a floorplan that we had decided on with the builder. When we met with one of the builders, they told us "we don't want to shoot Santa Claus in the head". I knew we were in trouble. They told us that there was just no way that this builder can do what he has promised us. We were worried. We thought we were on the right track because we were being assured every step of the way that we were ok and on budget.
After finally realizing that this project would not be feasible nor make sense for our family, we decided to throw in the towel. But, now what? We had sold our home and signed a leasing agreement for one year. We were stuck. I reached out to my realtor, and she said it would be a good idea to see some homes in our neighborhood, which we loved and really did not want to leave.
Our neighborhood is comprised of 4 elementary schools, all amazing and Blue Ribbon winners. The closer you are to "town" the more expensive the land. Everybody wants to hop onto the train and go to the city for work, or pleasure. It is such a huge convenience. The restaurants and shops are also a great perk of living walking distance to town. So, we knew we should look for something in the neighborhood.
Our realtor, Dawn McKenna, is so knowledgeable and we knew she would find us something. It took one day of home shopping to find our next home! My husband and I had built 3 homes so far and we only have liked investing in brand new homes. We loved the smeall of walking into a newly built home. It was ours, nobody had ever lived there before.Never in my wildest dreams would I imagine what has happened to occur. We went and visited just two homes that day. One, brand new, by my former builder Oakley Home Builders. This home was an absolute dream. I wanted it so badly, but unfortunately, it was a bit out of our price range. Next, the realtor took us to a 100 year old home. My husband looked at me as we were walking up to it and said "you know, I am humoring you...there is not way that I will ever buy a home this old". We walked in and we immediately looked at each other and said in one breath "it reminds me of Paris". I know it sounds cliche', but we really did say that to each other. That basically sealed the deal. We have been to Paris twice and ever since we came back my husband has learned French (and I tried and failed) and we cannot wait to go back.
We thought we should wait and think about this before making an offer. So, we looked at the house and went home. We first decided that it is just too old, even though it was rehabbed for the past 2 years by a reputable builder and most of the areas that are important looked good...the kitchen, the baths, etc. So, we decided to just wait and maybe go look at it again. The following weekend we went again. Again, we walked away being afraid that it is just too old. I mean, older than my father, who is turning 80 this year. But, something about this home kept calling our name. It was meticulously updated to today's standards. We knew that if we were ever to build a home, we would never be able to get this kind of square footage in this amazing location. It was about 70% bigger than the home we sold, and for about the same price, and in town on one of the nicest streets ever! It was a no brainer to us and we made an offer. We talked and said that if there was anything that was completely scary on the inspection, we would walk away. But, here are some pictures of the home and you can see why we were swayed despite the radiators. As I started to ask around what people thought, I quickly realized what they were telling me to be true. You just cannot find character like this in a newer home. The door knobs, the hinges, the trim, the original fireplaces (which are outstanding).
So, as you can see from just these photos, we fell in love. The floors are original and they have been sanded down and gorgeous quarter rift sawn white oak floors were found. We have been debating whether to keep them or change them since they do creak a lot...a gentle reminder that the home is quite old.
There is a list of must-do's in this home. The radiators eventually need to be switched over to forced-air. The water heaters are older, the air conditioners are getting old, and the kitchen can be updated a bit. But, for now, we consider ourselves very lucky to have found this gem to live in. I seriously feel like this is a dream and somebody needs to wake me up. We managed to basically double our square footage for the same financial amount that we had our last home. So, it was a no brainer.
So, today we closed on this home. It is official. Is this my forever home? I think it will be, but you never know what life's challenges will bring. We plan to be here for a very long time and we are super excited about making many many memories here. Make sure to follow along as I continue posting updates on how I will be personalizing this very old home of ours or as I like to say it- our vintage home! Thank you, "it's vintage"! Follow along with my journey @reems_design on Instagram.