As I'm house hunting, I'm noticing that houses with large kitchens (gourmet) tend to have large other areas. I'm looking for a house I don't think exists, large kitchen, open to other areas (for entertaining), but less than 3000 sq ft overall. Any ideas on what I should be looking for?
(Large kitchen, open space, inground pool, everything else is negotiable)
Well you could look at smaller homes with Galley style kitchens that you could knock the wall out opening up to the living room. Thats what we did with our home in Dallas. We had a really spacious living room and fireplace but small cramped Galley kitchen and breakfast nook. So we just cut away the wall opening it up to the the livingroom TV and fireplace to the Kitchen. Pushed the cabinets out 2 feet. laid down granite counter tops and installed a bar looking into the kitchen.
If I could do it over again. one change I would have made would have been to move the kitchen sink/Dishwasher facing the action of the living room. At the addl time costs and time said no.
Huge difference - not a lot of money. our house is 2200 sq ft. 4 b 2 ba late 70s era when kitchen space wasn't vogue.
"And as we pass the collection plate, please give as if the person next to you was watching."
-Rev. Lovejoy
You may want to try newer houses. We found, even in our much smaller price range that the newer the house the more open the main living area was. An open floor plan is basically a must these days for new construction. The biggest problem may be finding a new house small enough for your liking that also has a pool - today's builders seem to be maximizing the amount of house on each lot; to have a pool would likely require a bigger house to go with it.
...just my $.02.
Even in then newer houses, the tendancy is to crowd the kitchen. We've had over 20 people in a galley kitchen. Fun, but still. When Mayra is cooking, guests tend to congregate in the kitchen. I've yet to have a gathering where the whole group didn't end up in the kitchen at the same time at least once.
DanOriginally Posted by Dan Henderson
You asked for ideas. I have a lot of experience at buying houses and am happy to share my experiences.
By way of background, Linda and I bought our first home when I left the military in 1971 and have lived free since that time. By free, I mean that each time we have sold a home (with one exception) we have made enough profit on the sale to cover all of our investment including interest for the time we lived there. There was one house where it wasn't true, but we made enough on the next one to make up for the small loss on that one. A significant part of our current net worth has come from the reinvestment of profits from the homes we have bought and sold.
The key to "living free" is to buy a house at a below market price. When we buy, we look for houses where there is a correctable problem that has depressed the price. Examples:
Our first home had a cracked foundation. The crack was very noticable and scared most buyers away. By doing some cosmetic repairs, I made the crack less noticable. We made a 40% profit when we sold 27 months later.
Another house was one where the builder went bankrupt when the house was 80% done. We bought it cheap and hired another contrator to finish it.
Another house was very old fashioned. All of the carpets, wall papers and cabinets were out of date by 20 years. We bought it cheap and immediately remodeled. We made a 30% profit on that one.
Two have been foreclosure situations where we bought from the bank. In both cases the homes had not been maintained well and had cosmetic damage. In both cases, we bought them cheap and I did the work to repair the cosmetic damage. We still own one. The other we sold for a 26% profit.
Our primary residence now had an engineering problem. It is waterfront property and about 30 feet of the back yard slipped off into Puget Sound. Because of the high bank problem, the price was driven down. If we were to sell today, we would make at least a 100% profit on it.
My point is simply that the number one key to successful home ownership is buying at a price that will appreciate over time. If you pay too much going in, you will never get ahead of the curve. My recommendations:
1) Instead of looking at the homes that are just coming on the market, look at the ones that have been on the market a long time. Those are the ones that will have the lowest prices.
2) Instead of looking at homes that are just what you want, look for homes that can be made into what you want with a reasonable cost.
3) Look for an opportunity to help a seller out of a difficult situation -- divorces, foreclosures, change of job location, health problems & retirement are all highly stressful situations that force people to sell their homes. In making an offer to buy their home, you can help them through the stressful situation and get a below market price at the same time.
4) Look at vacant homes. They are cheaper than occupied homes.
A time or two when I have shared about how we buy homes, someone has commented that we have taken advantage of the sellers. I don't see it that way. In each case, our offer has been an answer to prayer for the seller. Linda and I didn't create their stressful situation, we have simply identified the stressful situation and helped them find a way out. In every case, the seller has been better off than they would have been if we hadn't bought their home. My favorite book, "Getting to Yes" has a chapter on "Invent Options for Mutual Gain." That chapter describes what I am suggesting. Look for situations where you can buy at a favorable price and at the same time you can help someone out of a difficult situation. Over time, those are the types of deals that will allow you to live free.
Dan, I just bought on in Arizona. 2,300 sq foot on half acre lot, with large kitchen/nook. I put new appliances in, repainted, etc. It's really coming together. The kitchen isn't open, but it is accessible and we are installing a wet bar nearby for entertaining. So there are ways to work around certain designs.
Keep in mind, that kitchen cabinets can be refinished or refaced by a specialist. Moreover, I would highly recommend you install granite countertops. The process is a bit spendy, but the quality is enduring. The contractor will come out and set a template and then bring the pre-cut tops in and install. There are so many kitchen design specialist out there its reediculous.
The other thing to consider....windows. Small windows can be enlarged in favor of bigger ones or bay windows, or specialty windows to give it that extra ambiance. Also, I would look for a home with a wet bar (not for serving alcohol, but the space it offers takes the pressure off of your kitchen and makes entertaining much easier to facilitate.)
Now, on the pool. I would recommend you install a salt system. Chlorine pools are soon to be obsolete. We are on salt and I absolutely love it. It is less harsh on your body and doesn't smell toxic. The salt system requires less chemicals and it not that difficult to maintain. Of course, the conversion will cost you about $1,500 but it is totally worth it in the long run. And your guests will thank you when their clothes don't fade and their hair doesn't turn green...lol!
I'm 5 months into my project here in Mesa and it is really working out. Don't hesitate to buy a fixer upper as I did. I got a bargain and now have instant equity. yes, I did a lot of the work, but I have it the way I want it now.
David -
In regard to some people feeling you had taken advantage of the seller - there are people on this forum who believe Jesus will be mad if you make a profit on anything. They are balanced by the ones on the other end who think he'll be ticked if you don't . Thank God for the middle.
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I would just remind us all that the housing market crisis of the last few years has had its share of winners and losers (most losers). The playing field has been leveled so to speak. It is a GREAT time to buy and interest rates are very low (4% for 30 year fixed). The only problem is qualifying for a loan. Fannie & Freddy are using ridiculous criteria. The closing agent told us that 9/10 buyers arrive at the title company exhausted, angry and emotionally exasperated from the process. That pretty much sums up our experience.
We're closing on our first house tomorrow afternoon. We've had a pretty great experience. We looked at a few more houses than we would have liked (it was tough to find what we needed for what we can pay) - and we did lose out on a house early on (one that was a bit small, but in a perfect location). We ended up with a great house, in terrific condition, exactly in the area I had hoped to target before the search began (and at an incredible 3.5% fixed interest rate).
We'll be paying about $2,000 more than I think the house is worth - but we were willing to do so for two reasons: 1)the house is in great condition and will need minimal work in the next few years; it was worth $2,000 to make sure we got it - and 2) the couple selling the house is no longer a couple and they've been trying to unload it for almost two years now, reducing the price by almost 20% in that time. They're going to each be taking out personal loans to pay off their mortgage (and help to cover closing costs). We figured the $2,000 was a charitable way of pitching in to a tough situation for them.
Given our experience and the current real estate climate, if you don't have an immediate time frame for moving, I suspect you'll be able to find a way to get what you want for what you want to pay for it. There's a lot of fluctuation and opportunity out there if your expectations are even close to realistic.
...just my $.02.
Thank you all for the tips, I appreciate it. This is all good advice heading into the buying process. I'm looking at everything, old, new, fixup, and move in ready. Thanks
Start the loan process early. You are going to need all the time you can get. Locate vaccination records, birth certificates, background checks, grocery store receipts, names of 3rd cousins, traffic tickets from 20 years ago, etc.
Yeah, it's that ridiculous.
Post Thanks / Like - 1 Thanks, 0 LaughingGina Stevenson - "thanks" for this post
Dan, I have some pointers.
1 - You should buy my house in New Hampshire. The kitchen is 16 x 24, and opens into the 24 x 26 family room, as well as into the 16 x 20 fireplaced dining room. Unfortunately, the house has 3500 sf, not counting the finished attic, or the basement. The house sits on 17 acres recently rezoned to commercial.
2 - Disregard Dave's advice.
3 - Call me when NH makes sense.
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So one who would like to try something on their own now, with low income that could afford pymts that I have seen as being no more than, or not as much as, what one might contribute to sr housing would be told that income is not enough, I am afraid. Would just as soon have some house where I could help pick who shares it with me (expense help, too, that way) than to have some apt backed up to another apt where you have to endure others' NOISE(!!), as there is just as likely to be some in those apts who refuse to do anything re their ears, too ... like here where I get blasted out by the TV being at its HIGHEST POSSIBLE VOLUME SETTING every doggone time it is on.
Really feel I need a HOUSE to share before priced go way UP again!!!!!!!
NOISE POLLUTION, among other things .......
Life beats down and crushes the soul and art reminds you that you have one.
~ Stella Adler ~
~ ~ ~ ~ ~ ~ ~
It takes a great deal of maturity to accept that trying to eliminate all risk eliminates life.
~ Susan Lapin ~
If NH is not a subdivision or a suburb or West Palm Beach FL or Nashville TN, then the wife says noIt all sounds good though, especially the acreage.
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Gina,So one who would like to try something on their own now, with low income that could afford pymts that I have seen as being no more than, or not as much as, what one might contribute to sr housing would be told that income is not enough, I am afraid. Would just as soon have some house where I could help pick who shares it with me (expense help, too, that way) than to have some apt backed up to another apt where you have to endure others' NOISE(!!), as there is just as likely to be some in those apts who refuse to do anything re their ears, too ... like here where I get blasted out by the TV being at its HIGHEST POSSIBLE VOLUME SETTING every doggone time it is on.
Really feel I need a HOUSE to share before priced go way UP again!!!!!!!
NOISE POLLUTION, among other things .......
Consider an FHA loan. You only need 3% down. And in some cases people are buying condos, homes, etc., and paying LESS than they pay for rent. But then, you need good credit and your right arm to get the loan. I have seen it done and it does work out. Some condos are going for as little as 40K here in AZ. There really are some good deals out there.
I know how you feel. The rent you are paying would probably net you a decent house. I think the biggest hurdle is the down-payment.So one who would like to try something on their own now, with low income that could afford pymts that I have seen as being no more than, or not as much as, what one might contribute to sr housing would be told that income is not enough, I am afraid. Would just as soon have some house where I could help pick who shares it with me (expense help, too, that way) than to have some apt backed up to another apt where you have to endure others' NOISE(!!), as there is just as likely to be some in those apts who refuse to do anything re their ears, too ... like here where I get blasted out by the TV being at its HIGHEST POSSIBLE VOLUME SETTING every doggone time it is on.
Really feel I need a HOUSE to share before priced go way UP again!!!!!!!
NOISE POLLUTION, among other things .......
I need to clarify that the percentages I used in the above post were not the return on money that I invested. It was the percentage on the total amount I paid for the house. The return on the money I invested was many times that.
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We are closing on our very first home tomorrow if all goes according to plan. The original close date was April 30th, then it was changed to May 15th, and now it looks like everything will be clear to close tomorrow. It has been an interesting experience to say the least.
It is a 4 bedroom 3 full bath on one-third acre in a kid-friendly neighborhood. My daughter's elementary school principal at her new school is a member of my church.
We bought at absolutely the perfect time. The day after we were assigned an FHA case number, the rules all changed and interest went up dramatically. We got a fantastic deal on the home because of a tragedy that took place in the home which would put off many buyers but did not deter us. We have instant equity.
This is a life long dream and we have come up against wall after wall, but God's timing is perfect.
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Yeah, have gotten AZ RE emails forever. While writing this, it just dswned on me that I have not seen any in awhile! What happened, I wonder. Hmmm ....... ???
Now that I think about it, have not seen any in a couple of weeks. When did things change, that David was mentioning?? Maybe my price range for which I used to get them moved UP!?!?
Life beats down and crushes the soul and art reminds you that you have one.
~ Stella Adler ~
~ ~ ~ ~ ~ ~ ~
It takes a great deal of maturity to accept that trying to eliminate all risk eliminates life.
~ Susan Lapin ~
Dan, I can recommend Dennis' NH mansion to you. It is beautiful. I had home pizza there and the pizza was delicious. The home comes with a large lake fed by a NH stream. You can enjoy sailing and swimming, hunting and trapping, four wheeling and snow mobiling, snow shoeing and skiing, shoveling snow, snow cones, snow blizzards, snow mountains, snow most of the year.If NH is not a subdivision or a suburb or West Palm Beach FL or Nashville TN, then the wife says no
I forgot to mention that I don't want to be house poor.
By John's New Hampshire standards, if the roof doesn't leak, it's a mansion. Just for the record, there is no stream fed lake, and no sailing, swimming, four wheeling, snow mobiling, or snow cones. Dr. Reilly gets carried away, and I still think it's because they have so much snow in Keene. He must be speaking ministerially.
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Have sold 2 houses in my lifetime. Just about tripled my money each time. I was fortunate enough to sell at or near the top of the SoCal market in '04 - it started softening shortly thereafter. In '05 we bought the house we're now in. If I were to sell today, I'd lose some money. But, I'm not selling - really have no desire to move from where I am.
Till this point, I completely agree.
"No scripture can mean that God is not love, or that his mercy is not over all his works" (John Wesley - Free Grace, 26)
What? You don't like pizza?
Ok, here's a language problem. I meant to say, the statements including the above, and until the next one that I didn't quote. What would have been the proper word, Dan?
"No scripture can mean that God is not love, or that his mercy is not over all his works" (John Wesley - Free Grace, 26)
What! No spring fed lake?And I was getting interested!
-Jim
To know and to serve God, of course, is why we're here, a clear truth, that, like the nose on your face, is near at hand and easily discernible but can make you dizzy if you try to focus on it hard. But a little faith will see you through.
Garrison KeillorPost Thanks / Like - 0 Thanks, 1 LaughingDennis M. Scott - thanks for this funny post
Here you go Dan! This house has an enormous kitchen, it could use updated cabinets, flooring and counters, but it's pretty big. Expansive lawns, high value landscaping, tennis courts and this little 6400 s.f. gem is situated on 38 riverfront acres in beautiful Caribou, ME. Do you like snow? Cause we've got it! Over 200 inches a few winters back!
House has been on the market for 3 or 4 years now, was owned by a doctor and originally listed for 600K. Plus it's close to Loring AF Base in case you get nostalgic, the runway, country club and the main hanger are still there! AT just 299,900 you won't be house poor with this diamond in the rough!
And yes there is a Nazarene Church in Caribou!
http://www.realtor.com/realestateand...6_M38170-14615
Nashville you say? This one has a real nice kitchen and it's in highly desirable Franklin! Very little snow here though and I understand that it gets real hot in the summertime. There is a Nazarene Church in Whispering Hills or you could head into town to the mother church of the south! You'll wish you were in Maine though!
http://www.realtor.com/realestateand...9_M71564-37846
-Jim
To know and to serve God, of course, is why we're here, a clear truth, that, like the nose on your face, is near at hand and easily discernible but can make you dizzy if you try to focus on it hard. But a little faith will see you through.
Garrison Keillor
Jim,
Call me critical, but with only one picture, they are showing the back of the house? If one was willing to pay the original asking price, could they list at least one other picture?
Wow! We are walking a similar path. We closed on a home in Mesa, AZ that is similar in size and just got a bargain. Instant equity makes my ears ring. As you improve the property and live in it for a time all the past trauma will fade as you dedicate the property to the spirit of Christ. God bless you David. Have you posted pics on FB?
We have a single pic on facebook with the "contract pending" sign in the yard. I'll post more pics once the i's are dotted, the t's are crossed, and the keys are in my hand. Congrats on your closing.
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A steal at only $4.5MHere you go Dan! This house has an enormous kitchen, it could use updated cabinets, flooring and counters, but it's pretty big. Expansive lawns, high value landscaping, tennis courts and this little 6400 s.f. gem is situated on 38 riverfront acres in beautiful Caribou, ME. Do you like snow? Cause we've got it! Over 200 inches a few winters back!
House has been on the market for 3 or 4 years now, was owned by a doctor and originally listed for 600K. Plus it's close to Loring AF Base in case you get nostalgic, the runway, country club and the main hanger are still there! AT just 299,900 you won't be house poor with this diamond in the rough!
And yes there is a Nazarene Church in Caribou!
http://www.realtor.com/realestateand...6_M38170-14615
Nashville you say? This one has a real nice kitchen and it's in highly desirable Franklin! Very little snow here though and I understand that it gets real hot in the summertime. There is a Nazarene Church in Whispering Hills or you could head into town to the mother church of the south! You'll wish you were in Maine though!
http://www.realtor.com/realestateand...9_M71564-37846
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