Submitted by ripeapple9009 t3_11z6k6v in personalfinance
I just visited this house today that I absolutely fell in love with, but my realtor doesn’t think I should buy it because he’s afraid it will be difficult to resell in the future. So I’m weighing the short term solution vs the long term. My mom thinks I should buy it and my dad doesn’t.
I’m 28 and I just split up with my ex 6 months ago. Our house that we shared is finally closing next week and I’m dying to get out of the tiny little apartment I’ve been staying in while I find a new house. Luckily I make enough that I can afford to buy my own property with proceeds of the sale and my salary.
I toured only my second house today, but it seemed like an ideal fit, especially since there doesn’t seem to be much of anything on the market right now. Realistically, I know I will not stay in this house forever. I’m currently single and fits all my needs perfectly. It’s technically a 3 bedroom, 1 bath house but one of the bedrooms will need to be knocked out to make the living room actually livable, it’s incredibly small right now. That’s fine but the only other “bedroom” apart from the primary is the only access point to the back deck and backyard. This is perfect for me because I would turn it into an office, but my realtor is warning me that it may be very difficult to resell the house with basically only one private bedroom.
It’s been on the market for 47 days so I think that already tells you it’s been a tough sell. Apart from that it absolutely checks all my boxes. Everything is completely redone. Stainless steal appliances, good neighborhood on a really nice street, within 5 minutes of all my family members, front porch, covered deck(this absolutely one of my favorite things a house can have), two car garage, big fenced in backyard, and slightly under my budget.
I’m really torn because it seems like the perfect house for me based on my current needs but I want to eventually meet someone and start a family and it wouldn’t be able to accommodate that. So I know I will eventually need to sell it. Of course I have no idea if things will go to plan, but I’d ideally like to start a family in 5-7 years and that would mean I’d need to sell this house by then.
It might be easy to say that I should just wait until a different house comes along but there’s so few homes on the market and I’ve been checking Zillow and there’s no homes like this in that neighborhood within my budget.
Is this a poor investment and I’m just too quick to get out of my current situation or should I prioritize my current needs over some hypothetical future? Any thoughts or advice would be much appreciated.