Home Buying & Real Estate Thread

[B Sox]

What you guys are talking about is known as an appraisal gap addendum. Basically states that you're willing to make up the difference in purchase price and appraised value up to a certain amount in cash. At least around here, you probably aren't getting an offer accepted without one of them.

 

[edshoecator]

So happy we bought in 2018. 90043 pretty much doubled in 2 years

 

[tomdiginson]

put in offers on 2 homes and were sold for 40k over my offer...70k over listing on both

Market is insane right now.

 

[deusavertat]

I don't have any kids yet but I'm going to have to add an extra bath and bed in my basement eventually to make my condo a 4 bedroom 3.5 bath. How much does that usually run?

 

[edshoecator]

I don't have any kids yet but I'm going to have to add an extra bath and bed in my basement eventually to make my condo a 4 bedroom 3.5 bath. How much does that usually run?

A LOT!
Well, it depends on if you will pull permits or not.

 

[deusavertat]

A LOT!
Well, it depends on if you will pull permits or not.

What are these permits you speak of? My condo is a new construction and the builder told me specifically the basement is hooked up for an additional room and bath if I wanted to in the future. How much are we talking 100 grand?

 

[yogetoffmykickz]

What are these permits you speak of? My condo is a new construction and the builder told me specifically the basement is hooked up for an additional room and bath if I wanted to in the future. How much are we talking 100 grand?

If your simply converting an existing basement into a bed&bath, you won't spend 100k

But there's just waaaaay too many variables here man...
No one will be able to give you an accurate number sight unseen.

Can range from 5k to 50k
All depends on current site conditions and what exactly you're looking to get done.

 

[edshoecator]

so the lay out is already there? I thought you were adding on.

I put on 400sq ft and it ran north of 100k. Permits, drafting and engineering was almost 10k. Construction and utilities were another 60-70k. Finishes 20-30k and counting.

If there’s connections it’s just a matter of framing out the rooms

 

[deusavertat]

so the lay out is already there? I thought you were adding on.

I put on 400sq ft and it ran north of 100k. Permits, drafting and engineering was almost 10k. Construction and utilities were another 60-70k. Finishes 20-30k and counting.

If there’s connections it’s just a matter of framing out the rooms

Yea the connections for plumbing and electricity are already there I just need to section out a bedroom, bathroom and maybe a living room. It's a pretty big basement.

 

[lovehateself]

I don't have any kids yet but I'm going to have to add an extra bath and bed in my basement eventually to make my condo a 4 bedroom 3.5 bath. How much does that usually run?

in a condo tho ?

 

[deusavertat]

in a condo tho ?

Yea, technically a "townhouse" I guess. Not sure what the difference is.

 

[lovehateself]

Yea, technically a "townhouse" I guess. Not sure what the difference is.

HOA ok with it ?
granted i dont know where you live...have you thought of moving to a bigger place?
not in the cards ?

 

[deusavertat]

HOA ok with it ?
granted i dont know where you live...have you thought of moving to a bigger place?
not in the cards ?

The place I'm in right now is more than big enough. It's 3 bedrooms 2.5 baths for just my wife and I. I was just thinking about the future. Don't plan on having more than 2 kids, so a four bedroom total is more than enough if I add an extra bedroom in the basement.

It's a new development. I'm one of the first people to live here so the HOA is still in its infancy. The owner who sold it to me said the basement is specifically constructed to be modified for your needs.

 

[edshoecator]

Maybe 10-20k depending on finishes. Rough framing is cheap. It’s the drywall and tile that gonna eat away at the pot.

wish we had basements. Wife and kids would never see me

 

[solewoman]

The place I'm in right now is more than big enough. It's 3 bedrooms 2.5 baths for just my wife and I. I was just thinking about the future. Don't plan on having more than 2 kids, so a four bedroom total is more than enough if I add an extra bedroom in the basement.

It's a new development. I'm one of the first people to live here so the HOA is still in its infancy. The owner who sold it to me said the basement is specifically constructed to be modified for your needs.

I’d knock it out before they get uptight with their stipulations.

 

[you go boy]

Here we go again... already got my spot lined up and working on the contract as we speak...but now my second realtor shows me an even nicer condo today at 11am... it has a garage and backyard two things I want....might throw an offer out if it's nice then cancel the spot I got now before it gets out of attorney review lol... if I get this new spot I'm done with house hunting and no more flip flopping from me again I swear

 

[deusavertat]

Maybe 10-20k depending on finishes. Rough framing is cheap. It’s the drywall and tile that gonna eat away at the pot.

wish we had basements. Wife and kids would never see me

Man I'll probably end up putting my office and a bar down there . My wife already has suspicions about why I insisted on having a basement when we were home shopping.

 

[deusavertat]

I’d knock it out before they get uptight with their stipulations.

I understand not being able to modify the outside of your house but I think it's ridiculous that places even have these rules where you can't do what you want with the inside of a home you purchased.

 

[Chopper]

We grabbed a house for ~270 sq ft got in April and paid top of market. House down block just went for ~355 per sq ft on worse lot. **** crazy out here.

 

[you go boy]

put in offers on 2 homes and were sold for 40k over my offer...70k over listing on both

are you buying a house, townhouse or condo and what area? im curious to know what offers are winning for condos...anyway i just saw the condo today and it is nice and perfect.... easily the best place ive seen not even close... i offered 20k with escalation over offer price...i dont even care lol... if i lose the bid it wasnt meant to be... the other place which i already locked up is in attorney review... i aint sign the contract but if i delay it long enough i might lose that place and possibly get out bid on the house i bid 20k over from today...now i have to just wait and see if my offer gets accepted

 

[edshoecator]

I understand not being able to modify the outside of your house but I think it's ridiculous that places even have these rules where you can't do what you want with the inside of a home you purchased.

I used to live in an HPOZ and got hit with a window tag (bought the house and it had vinyl replacements) when I went to stucco the house so crazed member of the HPOZ started yelling at the guys and an inspector was there the next day with a stop work order. Even showing proof that the windows were already there and other homes on the block and in the HPOZ had vinyl replacements...I had to buy custom wood windows. I hate HOAs and HPOZs because of that.

Get that office. My wife's friends husband has a finished basement he uses as his office and it has a full bathroom with a kitchenette. I would never come up.

 

[Mark Antony]

Here we go again... already got my spot lined up and working on the contract as we speak...but now my second realtor shows me an even nicer condo today at 11am... it has a garage and backyard two things I want....might throw an offer out if it's nice then cancel the spot I got now before it gets out of attorney review lol... if I get this new spot I'm done with house hunting and no more flip flopping from me again I swear

This is odd behavior.

 

[yogetoffmykickz]

This is odd behavior.

My dude has now "copped" six homes in the past 8 weeks.!

I only kid you go boy .. best of luck with this one. ..

 

[you go boy]

^ i know it sounds like i am wasting everyones time lol... but at the end of the day i need to be happy and this is a HUGE investment so of course i want to be sure this is what i want...but this is also a learning experience for me... i never bought a home so im learning as i go... but i dont regret not buying the homes i won an offer on... if the deal falls through there was a reason for it...at the end of the day i need to stop rushing and bidding on the first thing i see... but trust me when i say this if i win this house i am buying it and not backing out...

 

[pdino]

^ i know it sounds like i am wasting everyones time lol... but at the end of the day i need to be happy and this is a HUGE investment so of course i want to be sure this is what i want...but this is also a learning experience for me... i never bought a home so im learning as i go... but i dont regret not buying the homes i won an offer on... if the deal falls through there was a reason for it...at the end of the day i need to stop rushing and bidding on the first thing i see... but trust me when i say this if i win this house i am buying it and not backing out...

Live footage of you go boys realtor

Just playing.. take your time