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Originally Posted by Arulmozhi
1) We would like a 3/4 bdrms 2 full baths (in NE anything that has a
toilet and at least a shower stall is defined as a full bath). This
house has 3 Bdrms and 1.5 baths with the ability to convert to 2 full
baths with the main bathroom on the first level and the half a bath in
the finished basement.
2) It has a slightly odd floor plan (officially listed as a
contemporary style house) with the living room in a different level
(mezannine level) than the kitchen. The formal dining area is in a
separate room on the same level as the kitchen but not adjacent to it
(it is opposite the kitchen). The kitchen is large enough to be made
into an eat-in-kitchen.
2a) It has a finished basement with a really stylish usable family
room and an extra room (can be used as an office room).
3) No garage. This is a biggie for us given the awful winter we just
had. We checked the lot information from the town info and there is a
theoretical possibility to build a garage. However, the house sits on
a granite hill with boulders in the yard and it would be quite an
effort (cost and timewise) to put in a graded driveway leading to a
garage. The house is in a spectacular neighborhood and is probably
the cheapest on the street. Every other house on the street except
this and one other house has a garage. 4) The back and front yards are to die for. The view from the front
of the house which is into the opposite guy's front yard and woods is
simply spectacular.
5) The house has been on the market for close to a year with
progressive price reductions and still no takers. The owner has
verbally agreed with us on a price which we think is fair.
6) No fireplaces.
This is absolutely the neighborhood we want to live in. The schools
are awesome and the neighbors really take care of their property. We
are immigrants from a different culture and would like to hear some
popular opinion.
Is the lack of a large formal dining area abutting the kitchen a huge
issue?
How about the lack of fireplaces?
How about the lack of a garage? I view this as mostly a nuisance but
one that I am ready to put up with. I think this is currently priced
into the house but does the rate of price appreciation depend on the
presence/absence of a garage?
The fact that the house has been on the market for over a year with
progressive price reductions with no takers scares us a lot. Why is
this house not selling?
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Are you working with a realtor ? What is their opinion ? An experienced knowledgeable realtor was very helpful at pointing out detriments to houses my husband and I were smitten with. Having shown and tried to sell hundreds of homes, they know what buyers want and what turns them away.
What kind of market are you in ? If you are in a sellers market and the house is selling much less than the neighborhood is worth you have cause to be concerned. I disagree with the poster who said not to worry about resale because someone will be interested. If you had to move or were forced to sell your home could you afford to keep it on the market for a year ? Formal dining rooms aren't a necessity but in higher priced homes they are still expected. I've seen a lot of new construction with very modest dining rooms. These were expensive houses too. Families are smaller, most people don't own those huge tables anymore.
An odd layout can affect the liveability of the house and pose complications in remodeling. Different levels in the house can affect resale in the future. The baby boomers are getting older and there will be a great demand for one level houses that can be easily converted for the handicapped.
The fireplace isn't a big issue. There are some very realistic electric ones. they're certain to be much cheaper and realistic in the future.
Do you need to grade a driveway to use a garage ? Where are they parking now ? Could a covered entry in front of the house work ? That would cost less than a garage, afford some protection and give a more formal look to the house.
Does the house work with the way you live ? Does the style go with your furnishings or work with what your dreams are. Is it convenient to shopping and work ?
The neighborhood is important, but you are going to spend most of your time inside the house looking at the walls, flooor, kitchen etc. Most homes main living area is the rear of the house. Unless you have a porch or really use your front room you aren't going to see the neighbors property except when you are leaving home.