I would buy that house in a heartbeat, but I’m living in such an outrageous housing bubble market that things like that (not that we have those kind of houses here – it’s cute) would be over $600K. I live in a condo that’s probably 1000sf and there’s 3 of us – DH, DD15 and myself. I’ve never felt cramped for space at all. We even have 2 bathrooms and tons of closet space. Maybe it depends on the layout? Does the layout make it feel cramped?
I also agree with the poster who said prices haven’t bottomed out yet. I wouldn’t worry about buying too quickly. The same type place will probably be going for less money by next year.
If you LOVE it, then go for it (if they accept $125K). You can easily afford the payments and your job is stable. As long as it wouldn’t bother you if prices continue to decline for the next couple years then it shouldn’t make any difference if you are just buying it as a home and not an investment anyways. If you do offer $125K and they don’t accept, you can always keep a watch on it. If it sits on the market for awhile they may be more open to a lower offer at that point.
Since you aren’t planning on having children I don’t imagine the size should be a problem. I guess I just don’t understand why people need these huge houses these days. Two people rattling around in 2500-3000sf seems unnecessary to me – this is of course just my opinion.
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