I've been renting or living with my family since my return from Mongolia in 2003. My rent has ranged from $333/month in Lebanon, NH to $935/month in Pearland, TX. My current rent is $856/month which DOES NOT include water, sewer, pet rent (really? Why does my cat need to pay rent every month if I've already paid the pet deposit? Do you have any idea how hard it is to make her do chores around the house to earn her allowance?), apartment billing fee ($4/month to get told how much I owe a month. Mandatory fee. No joke. I offered to opt out of the service and was told no). The total month check that I write to my 1970's apartment complex is usually in the range of $923/month. Property in Texas is notoriously cheap. Google tells me that I could live in a $187,500 home with a monthly payment like that.
My friend Mark that lives in W. Virgina likes to tell me how much land and house he gets for less money a month. Then I stick my tongue out at him, but that doesn't quite have the same effect since we are usually IMing. Anyways, I've been looking at buying a home for the past year. I wanted to avoid renewing my lease, but I didn't have enough for a down payment in December 2010. Picture me with a sad face here.
Here are the numbers: Price range = $105,000 - $125,000 (yes, property is really that cheap here, which makes my rent that much more ridiculous), <=3 bedrooms, <=2 bathrooms, >1975 home, 4.5% interest rate on mortgage, FHA loan with 3.5% down = $3,675 - $4,375, annual HOA dues >$200/annually, monthly payment $532 - $633.
So...I've selected three properties that could work for me, but they all need a little help. I'll include a couple of pictures and a link to the posting. What would you change about the house? Do you like it? Am I an idiot for considering this home?
338 Capehill Drive
This is the most expensive home with a list price of $124,900 in Webster, TX. I love the french doors in the Master Bedroom and the tile in both bathrooms.
The realtor boasts that this is new paint....umm...clearly these people have never seen the show, "Sell This House!" on A&E.
16004 Eastcape Drive
This is probably the worst shot of a house that I've seen, but that makes me wonder if not as many people would go and look at it and I'd have an upper hand when negotiating. The list price is $115,900.
The maintenance fee is $295/annually, but it's a larger home at 1,595 sq ft. I heart this living room/den combination, but I'll be honest, I don't have nearly enough furniture to fill that much space.
That's also a large expanse of beige and white.
Here's the "Master" bathroom, which leaves a lot to be desired.
I can't really see under the vanity, but it looks very 1970s from this photo. It makes me wonder what the second bathroom looks like.
17310 Heritage Bay
This is the least expensive house at $109,900. The picture of the front of the house makes me wonder why the realtor didn't have the van moved, but maybe no one was home at the time. I'm not sure. I'm not a realtor. I just like to critique photos
The realtor is also VERY impressed with the tile work in this home. Almost all the photos focus on the tile and there is tile everywhere. From the floors, to the shower, to the counter top. Note the dolled up tile work in this photo.
Then there is more tile in the kitchen, in the same pattern
The tile in the bathroom looks like it was having work done. There also isn't much of a backyard with this home, but it is the cheapest.
So the big question: Which house would you pick?