Z signed the purchase and sale agreement for the house this past weekend. Of course, CM and Butterflyfish are very probably right--this house has a good chance of becoming more of a headache for Z than it is a heartache for me. Nevertheless, I'm still working my way through the stages of grief, so forgive and indulge me. In an effort to fully convince myself that walking away from this house was the best decision I've ever made, I offer you More Headache v. Less Heartache: Why Walking Away From this House was the Best Decision I've Ever Made, a 2-Part Series.
Part 1: More Headache
I'm going to start with More Headache because let's face it, when we are feeling bad sometimes the thing most effective at making us feel better is fantasizing how the antagonists in our story are someday going to have it much, much worse. My antagonists, of course, are Z and her handy boyfriend. And I have fantasized a great many headaches on their behalf, including the following:
The tension headache: Generally, a "winning" offer on a house is going to be the highest offer made, right? Once I gave this a little thought, I decided that Z and the handy boyfriend's winning offer really means that they are simply paying too much. This house was swarming with people during the open house. Hundreds of them--a number of whom were clearly developers and contractors. It seems likely that some of these folks made offers too--but lower offers. Offers founded in an experience-based estimate of the cost of the needed renovations.
Yep, there is no way around it--Z and the handy boyfriend are overpaying. Novices.
The cluster headache: When I was considering this house, I had to face the fact that it needed a minimum of 6 months of renovations. That's 6 months with a contractor--not 6 months of DIY evening and weekend projects. I also had to face the fact that many of these jobs were big, messy and even hazardous, and really should be done while the place is empty--gutting the kitchen and bathrooms, scraping lead paint, replastering walls and ceilings, refinishing the wood floors, likely asbestos removal, etc. So imagine my surprise when Z told me that she and the handy boyfriend think that they will renovate for a month before moving in. A month! And imagine my even greater surprise when Z told me that in that month they plan to do the kitchen and at least one other room. Did I mention that the kitchen needs to be gutted? This entails tearing up linoleum (possible asbestos), installing a new floor over the subfloor, deinstalling the drop ceiling (more possible asbestos), rerouting the electrical that currently runs in the space between the drop and the real ceiling, repairing the plaster walls and ceiling, and, oh, I almost forgot, new light fixtures, cabinets, sink and appliances. I'm by no means an expert, but 4 weeks for all that? It seems optimistic, yes? And frankly, it also seems short-sighted to tackle some of these jobs on a room-by-room basis.
And yes, this is when I revert to the "anger" stage of the grieving process. Because this house deserves more than another piecemeal, budget renovation. And if Z and the handy boyfriend can't afford to do it, they should have walked away too. Novices.
The migraine: Finally, you should know that despite obviously having spent way too much time and emotional energy engaged in an internal battle with myself over all of this, I have have spoken very little with Z about her plans for the house. I did ask how the inspection went though. She said that although several issues came to light, they were planning to move ahead. I didn't want to seem like I was prying, so my only follow up inquiry was to ask what the asbestos testing revealed. Again, we're talking about an 1890 house with layers of linoleum, suspended ceiling in several rooms, and God knows what in terms of insulation. "Oh, we decided not to do the asbestos testing," Z replied.
Perhaps she made it through torts without ever hearing of mesothelioma? Novices.
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Stay tuned for Part 2: Less Heartache.
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anxiety
1 hour ago
I just went through and read parts 1-3 of the Z dream house saga. I agree with you - they are novices! They don't know what they're getting into, and in contrast you see it with clear eyes about the enormity of the project.
ReplyDeleteA couple of thoughts. First, they are not to be envied. Home renovations are enormous and can drag on and on and drain all of your money. This is not something you have a lot of room for in your life right now. So you know what? Let that be her burden, not yours.
Second, shopping for real estate is like finding a relationship - sometimes you have to walk away from what you think is your dream house/relationship because the timing is not right. I guarantee you're going to find something better for you. Maybe even something you never imagined would be your "dream" house but will end up to be. I had similar stuff happen to me when I was shopping for apartments. I found my dream place and was devastated when someone else got it. I later found out the apt was not ideal when it turned out their condo board was constantly fighting, embroiled in lawsuits, etc. I ended up finding the place I bought right afterward, and it's been awesome. and so much more my dream home than the other place could have been!! You just never know what will happen - it pays to be zen (easier said than done, I know).