For the past ten months my fiancé and I have been submerged in the housing market. The frustration, disappointment, excitement, and prices have all been a little overwhelming and I thought I would share my experience.
As a first time home buyer the process of buying a home is a little confusing and as the largest purchase I have ever made, I wanted to be sure we picked the right one. We saved up our downpayment and with our realtor went shopping. In our price range we found very little that met our expectations, most homes needed major renovations, which we wouldn’t have the money for after buying the house. So we decided to increase our budget a little, sadly we where met with the same situation. We knew we would have to do some work to make the home our own, but we were met with homes that needed total renovations, needing some combination of a new kitchen, walls removed, new floors and bathroom guts. Any large renovations were not something we were willing to under take with our up coming wedding, and our housing budget maxed on the cost of the home.
After viewing countless homes in many different neighbourhoods a family member suggested we look at a new build in a brand new subdivision. I was sceptical, I hate subdivisions, on the outskirts of town, so disconnected, nothing within walking distance, all the houses look the same, little or no parks or public spaces, and the homes themselves are not very architecturally pleasing. Despite my objections my fiancé convinced me to keep an open mind.
We visited the sales centre, and yes the street and the exterior of the homes lacked character, but the interior was beautiful, a far cry from the homes we saw with our realtor and on MLS the past seven months. We were shown all the finishing choices and floor plans we could select, we could completely design our home for a price less than our original budget. It was exciting, but I had to take a step back and think about if I could live in an isolated subdivision, turns out for the price, I was willing to give it a shot. After reviewing all the possible floor plans we selected the best option for us and put down our deposit. We bought in during the pre-build phase which meant we where able to make some changes to the floor plan at a very reasonable cost. We where told we could move in on December 11, “Home for the holidays” is what they told us.
Then the set backs came, pushing our closing date back four months. We where renting at the time and could not sign another years lease, we had to move to another residence where we could live month to month. We were very disappointed we would not be “Home for the holidays”, but glad we where not forced into another years lease, even if it meant moving. Then after a few more months of waiting we were contacted by the builder to start making our finishing selections, we were met with disappointment again. Turns out most of the finishes we were told in the sales centre were standard, were not, and we would have to pay extra for these “upgrades”. This gets expensive, we were given one to eight standard options and the rest were upgrades. So, we mixed in some upgraded options on things that could not easily be changed or would make for better resale value.
We are still in the process of building and I often think if we would have bought an existing home we would be living there already, slowly making changes to suit our taste. Then I remember the houses we viewed and the amount of renovations they needed to be comfortable. Even with all the set backs I feel we made the right decision for our first home, we just have to remember to keep the upgrades to a minimum. I will keep you posted on the process as we move forward.
Guest Author: Trena Tataryn