Dilemma - Perfect House But Not Ready to Buy - NOT!!
 

I need to work up here most of this year.* BUT- we saw "the perfect TV house" (new) for $20,000 more than we were planning.* This is one of those where I believe pricing was based on technicalities, such as interior lot, not immediately backing onto open space, etc., I don't think it was based on the realities of actual location and resulting view - therefore it is underpriced.

Arguments in favor of waiting:

* The prices might come down further in 6 months.
* There may be others similarly situated with the combination of features we're looking for when we're really ready to buy
* It won't be as much of a financial challenge if we wait
* We would be paying for a vacant house and maintenance for 6-8 months
* We need to stay within budget

Arguments in favor of buying now:

* Nail down a great location and house
* $20,000 more over the course of the next 20 years isn't all that much
* Take several vacations over next several months
* May not get a better house/price in 6 months.
* New house locations will be further from Sumter Landing over the next 6 months

What are your thoughts on this dilemma?

Re: Dilemma - Perfect House But Not Ready to Buy
 

Hi...I was a realtor for over 30 years (retired) and my opinion is that it is never possible
to "predict he lowest possible bottom" of the market (the stock market or the real estate market). The market is now lower than it has been in many many years. If the house and the location are great and you have looked at all the other possibilies, and the price seem reasonable for today's market (and you have the comps that suggest that you are getting a good price), then it would seem a reasonable thing to do, if you can carry it and if your house wherever you are coming from is sold. If it is not sold, I would sell your own house first. At the very least, if your house is not sold, put in a "contingency offer" on the sale of your house. In this market, seller's are more willing to take a contingency offer that allows a reaonable time in which to sell your house. If your house doesn't sell within the set period of time that the contract allows, then you will get your deposit back and you will be allowed out of the contract. Hope this helps with your decision. Whatever, it is, I'm sure you will be very "happy" with the decision to move to the Villages....A great place to retire!

Re: Dilemma - Perfect House But Not Ready to Buy
 

Does TV take contingency offers? I am a Realtor (hoping to be retired soon) and agree that that is the way to go, under certain circumstances, if possible, but I thought that I read that TV demands the deposit, never refundable, within a short period of time, and there was never any negotiation or delays allowed. Seems crazy to be that way in this economy and market place and maybe they no longer do that. Can anyone give me further details on this?
Thanks
Barbara

Re: Dilemma - Perfect House But Not Ready to Buy
 

Business Week has an article that home prices will decline another 25% before it’s maybe over. Come spring when sales in TV are a little slower you might see better deals than now. Potential home buyers who need to sell their existing home first might not be able to and in order for TV to keep up it’s sales pace it’s likely you will see lower prices. I don’t think many of us want to be stuck with 2 homes in this market.

Re: Dilemma - Perfect House But Not Ready to Buy
 

Thanks for all of your thoughtful replies :clap2:

For further clarity...

There is a 98% chance I will continue to work (earn the requisite income) throughout the great majority of this year.

Our "main house" is sold.* We are now renting for a reasonable amount.

We have a condo in North Carolina that is rented for at least 8 more months generating a "break even" income.* We just now placed it on the market.* The real estate market in the Mountains has remained positive, unlike Florida (although it has slowed some from a year ago.)* Based on what we are asking, what we need, and the market, it should sell within 90 days.

The "sales pressure" is all ours - not the TV sales department, although they have their subtle ways.

Re: Dilemma - Perfect House But Not Ready to Buy
 

That's good.

You sound like you are really on top of things.

These are interesting times.

I wish you all the best on your new adventure.

Re: Dilemma - Perfect House But Not Ready to Buy
 

GF....

If you have truly found the perfect house and perfect location at an acceptable price, and you have crunched the numbers and considered all scenarios....I'd say go for it. But "perfect" has to mean you've looked at a lot of houses and locations and this one is clearly above ALL others you have seen. If it is only marginally above the others, then you can probably wait and there will a comparable "perfect" house in 8 months.

Good luck...it's a tough decision. We bought here before selling up North...and that house is still for sale. Fortunately, it's not a major financial drain and we knew we could handle both. That being said, I wouldn't give up the past 15 months we've spent here for anything....the house, location, and lifestyle are all wonderful. I'm so glad we weren't forced to wait for the other house to sell or I'd still be shivering and shoveling.

Re: Dilemma - Perfect House But Not Ready to Buy
 

Unclear why this would be a argument in favor or waiting. Many think being close to a square and in a central location like Sumter Landing is a real plus.

"Arguments in favor of waiting:

* New house locations will be further from Sumter Landing over the next 6 months"

-----------------------------------------------------------------------------------------------------------------
A comment on buying or not buying!
We went through these similar decisions for 3 yrs of renting. Bottom line became we loved The Villages and what it had to offer, we found a near perfect house for us at a little more then we wanted to spend but concluded > We aren't going to live forever and these will be our best year to enjoy the live style we wanted live > we bought and couldn't be happier!

Good luck!

Re: Dilemma - Perfect House But Not Ready to Buy
 

Biggest Argument in Favour of Buying Now ....

Assuming you are over 55 .... You have no idea how long you will remain well, healthy and able to enjoy the TV lifestyle. Don't automatically expect good health until you're 80!! Until a major illness is experienced, most people have no appreciation for the fragility of health and life.

I say .. live in the now... Buy now and start enjoying life in TV. :bigthumbsup:

Re: Dilemma - Perfect House But Not Ready to Buy
 

Barefoot, you said it best. At a certain age, you never know how many tomorrows you have
left.

Re: Dilemma - Perfect House But Not Ready to Buy
 

We had the same dilemma last June. I still have another 15 months until I can completely pull the plug, but the "perfect house, in just the right spot, etc." came available - and what was worse, the price was better than we had expected.

Well, to make a long story short, we bought. Now we find ourselves floating between DC and TV every few weeks, and will continue that practice until formal retirement. The carrying costs had to be considered, but - location, location, location - won out.

Hindsight being 20-20, we are still pleased with the decision. Our neighbors are fantastic, and I can't think of a better place for frequent mini-vacations every other month.

Would my accountant or business advisor have blessed this decision? Not on their balance sheets! But there's more to life than counting the coins, and what good are the coins if they can't bring you peace of mind????

Whatever your choice, it won't be the wrong one....

Re: Dilemma - Perfect House But Not Ready to Buy
 

Barefoot,
Do you think you can call John and repeat those words to him???http://www.millan.net/minimations/smileys/yes.gif

Re: Dilemma - Perfect House But Not Ready to Buy
 

If you have cash you can always buy, it might cost a little more down the line. There is no perfect house. There is a stronger likelihood of the housng market going down than up. Rents should remain low, they generally lag behind sales, so my advice is make a decision base on business sense not emotion. A good business decision will feel better than an emotional one. Only my openion. Hope this helps

Re: Dilemma - Perfect House But Not Ready to Buy
 

dadspet:

You are absolutely right...I misthunk. I fixed this item on my original post.

Re: Dilemma - Perfect House But Not Ready to Buy
 

OK Donna, will do!

I agree with SteveZ, "what good are coins if they can't bring you peace of mind?" It's not all about money, there is a huge emotional component! Some people have to experience a major health scare (and I was one of them) to realize they may not have endless time ahead to make these decisions and enjoy life. That is why I am so much in favour of people over the age of 55 taking the plunge and buying in TV now. Trust your heart. It's the best decision I've ever made. :bigthumbsup:

Re: Dilemma - Perfect House But Not Ready to Buy
 

The bottom is very close in the villages housing market as they are now selling about 200 a month .....
If you have found a house that you love then jump on it..Don't be placed in the position of having to say to people "IF YOU THINK THIS HOUSE IS NICE, YOU SHOULD HAVE SEEN THE HOUSE WE COULD HAVE BOUGHT"....
Let me stress on you that " YOU DON'T WANT TO TRADE TIME FOR DOLLARS"""
You can't buy on contingency here so make a decision and go for it..... We did and will never be sorry..
fumar

Re: Dilemma - Perfect House But Not Ready to Buy
 

Hi, I found this an interesting topic.

I had set ideas of what I wanted if we decided to move here. After posting and asking opinions of others all my "must haves" went out the window.

We knew what we were not willing to give up in life for a home, this made the dollar amount we were willing to spend an easy decision.

I agree with everything that has been written here. Life is short, enjoy today as you do not know what tomorrow will bring.

The house we purchased was not my dream home, but we are making it our home and in the process are making it the perfect home for us.

I agree that the decision to buy a house is not an easy one, but it sounds like you know what you want, so as others have posted, go for it.

Lots of luck.

HB

Re: Dilemma - Perfect House But Not Ready to Buy
 

First I would look at the listings online and low and behold I found our "perfect house". So we planned a quick trip to look at it and >:( of course it was sold when we got there. So our agent took us to other houses and right towards the end of the trip -- we found our "really" perfect house. But we really weren't ready to buy yet. Ours was still on the market and my hubby had to close up his practice. So we went home, stayed in touch with the realtor, and not very far down the road, low and behold >:( our "really" perfect house sold -- AGAIN! Both times I was heart broken. So we traveled here a few months later, now completely ready to buy and the first day I'm disappointed, hot, dizzy and just not well, thinking of the other two houses. The second day we go out and TA-DA :o we find our "really, really" perfect house! I wouldn't trade this one for both of the others together! The moral to this story is that there's always another "perfect house" in TV. I think they just keep getting better and better (and so do the incentives)! :bigthumbsup: :bigthumbsup: :bigthumbsup:

Re: Dilemma - Perfect House But Not Ready to Buy
 

I subscribe to the "can you sleep at night theory" posted above.

We'd love to get a Villages home now, but not just the cost, but the effort involved to keep another house that's not occupied is not appealing. We'll wait until we're "really close" to moving and then may keep 2 for awhile, but it'll be months and not years.
GOOD LUCK

Re: Dilemma - Perfect House But Not Ready to Buy
 

JohnN,

We seem to be in agreement about the process of decisions about money.

I can sometimes go on a bit when I get into these threads about financial decisions. I try to resist these threads. But I cannot. And sometimes I even start them.

But I always know that my own financial decisions credo really has only two sentences in it: What is the cost of sleep? & Never borrow money that you don't have.

But hey, that's me. And sometimes I can be pretty boring on the subject. But I don't claim to have never made mistakes with financial decisions. In the 90's, I danced a little while with the tech bubble. But I have had a longtime love affair with real estate.

If we buy in TV, it will be a second home and we don't want to rent it. All of the things you say about empty houses play into our decision, too.

We live and learn. And we are all so different in how we approach these things.

I can philosophize for a while longer because we are not quite ready in other ways to move to TV. Time will tell.

Re: Dilemma - Perfect House But Not Ready to Buy
 

BINGO, Boomer Beback, well said... I'll buy you a drink in TV one day.
I've got just enough $$$ for retirement by planning for years (if I don't live too long LOLOL) and I don't want to dip into it until necessary. Patience is not one of my virtures, but I try.

I can see where this is so tempting for many, and if you've got the cash and inclination, then go for it, but .. I'm too conservative I guess.

Re: Dilemma - Perfect House But Not Ready to Buy
 

JohnN,

I sometimes believe that there is a genetic component where money is concerned. I know where I got my wiring for this. Maybe we were another set of twins separated at birth, like Freckles and Freckles in the soap opera.

Even when I was really young, the people I worked with asked me questions about what to do about their mortgages. I wore the numbers off an old BAII calculator while showing them their options. And I did not work in real estate or banking.

Re: Dilemma - Perfect House But Not Ready to Buy
 

Fumar...you're starting to look more and more like Elvis! :bigthumbsup: ;D (...in your previous avatar)

If we could stretch the closing out to 120 days (instead of 30 days) and the price a tinge lower, purchase now would be a "no brainer."* But, if "tinge" and 90 days are the only things keeping us from this house, hmmmm....

Re: Dilemma - Perfect House But Not Ready to Buy
 

Alrighty, then. We did it!!! :hot: :2excited: :beer2: The developer went and made the price "a tinge lower" with new rebates yesterday.

Here are some photos of why we liked this house a lot...

This one shows the house nearly completed in late December...
http://farm3.static.flickr.com/2349/...aff329037a.jpg

This photo was taken by John Stamper, our sales rep. earlier this week...
http://farm3.static.flickr.com/2088/...1636b72299.jpg

Back in December, I took this photo from the unfinished family room looking west, across the lake and golf course. We bought the sunsets!!
http://farm3.static.flickr.com/2116/...0808a89c8e.jpg

The view is so neat because the Florida room, lanai and deck are elevated 10 to 15 ' above the adjacent lots and road.
http://farm3.static.flickr.com/2136/...a2d5ce9d25.jpg

Re: Dilemma - Perfect House But Not Ready to Buy
 

Congratulations and :welcome: to the neighborhood.

I think now that you have made this major decision, you will feel more relaxed.

HB

Re: Dilemma - Perfect House But Not Ready to Buy
 

gfmucci

:#1: I can see why you picked this view! Gorgeous. I betcha this is one decision you'll never regret. Welcome to paradise. :bigthumbsup:

Re: Dilemma - Perfect House But Not Ready to Buy - NOT!!
 

:welcome: :welcome:
Great view, you are going to love it. I can see you now drink in hand watching that sunset for many nights to come. It will be one of your best decisions.

Re: Dilemma - Perfect House But Not Ready to Buy - NOT!!
 

Well done GF....you're gonna love it. Sometimes you gotta follow your heart.

Is that in Amelia?

Re: Dilemma - Perfect House But Not Ready to Buy - NOT!!
 

Really nice place. Is that view across O'Dell Circle?

Re: Dilemma - Perfect House But Not Ready to Buy - NOT!!
 

I'd say that is money well spent! Welcome to TV!!!!

Re: Dilemma - Perfect House But Not Ready to Buy - NOT!!
 

Thank you. Yes, that is O'Dell Circle :)

Re: Dilemma - Perfect House But Not Ready to Buy - NOT!!
 

It is a beautiful view! Maybe you won't miss Destin sunsets too much now. Welcome!!

VK

Re: Dilemma - Perfect House But Not Ready to Buy - NOT!!
 

VK When were you in Destin? For how long? Your photo is of a pretty spectacular view. Which fairway across from O'Dell Circle do you think this view is looking out over?

Re: Dilemma - Perfect House But Not Ready to Buy - NOT!!
 

:welcome: :welcome: :welcome: What Village is that? Stunning view. Congrats!

Re: Dilemma - Perfect House But Not Ready to Buy - NOT!!
 

That is Amelia, on the east side of O'dell Circle.

Re: Dilemma - Perfect House But Not Ready to Buy - NOT!!
 

gf,

There are many spectacular sunsets and sunrises from various places in the Villages as evidenced by several posts! Welcome to paradise. I lived in Destin for a year in 1991 - prettiest beaches in the world in that area. Glad you are here.

vk

Re: Dilemma - Perfect House But Not Ready to Buy - NOT!!
 

You know what? There's never a bad time to move to TV.

Re: Dilemma - Perfect House But Not Ready to Buy - NOT!!
 

...except when you need another 8 months of good income to pay for it. ;D