Cash: $ 113.80
Joined: 03 Aug 2012
Every reader who peruses this site regularly knows that I'm looking for investment houses from afar. Well, also, my darling wife ("DW" henceforth) would like to get a place with a swimming pool.
I don't want to pay to put a pool in our present house. It just isn't worth the investment, as you'll never get what you paid in added price when you sell it; therefore, I've been looking for a property with a pool, so that DW can move to the new place, and we can rent the present place. Sort of a "reverse investment property." Basically, both of our goals can thereby be met.
I finally found a house that meets the major must-have points: single level so we don't have stairs when we're in our 80's, swimming pool so DW can cool off during the hot Texas summers, good neighborhood with decent future potential, priced below market value, and not in a flood zone. Not a comprehensive list, but enough that if a house meets all of these criteria, it's a decent buy and fits our needs.
Well, I finally found such a house. It is listed at 70% of our "our house" price point. As it's been on the market at least 120 days, we should be able to get it for around 15% less than that. This would leave us over $100K to meet our "price point."
The problem is that the interior is hideous. The rooms are small. The kitchen is set off from the rest of the house. The walls are 1970's paneling. There is decorative brick on many surfaces. The color of this brick was selected apparently to induce nausea. The kitchen surfaces are low-quality and ugly as well. The appliances are antique and probably barely adequate.
I told her to overlook all of that. For $100K and three to four months, all of those problems go away, Without any reason, she still just says, "No."
I've told her to find a better bargain that meets our criteria. I've stopped looking. I'll just sock money away in mutual funds and hope the QE doesn't cause hyperinflation.
Like I said, "just complaining."