If you were one of the people who took part in the reader survey then THANK YOU! I was almost crying reading your responses because I have such great readers. You were generous, thoughtful and kind. If you haven’t taken the survey yet you can do so here. I’m going to follow up with some of the most popular suggestions / comments on the survey after July 17 (the survey end date) but most of you have confirmed the direction I want the blog to head in.
The current state of our driveway… aren’t those flowers charming?
You haven’t had a new house update in a while, have you? (You can read the first part HERE if you’ve missed it.) I’ve been bad about that, but admittedly, intentionally so. I last left off when we got word that we didn’t win the bidding war over our dream 1970s Colonial. A few days after that we saw a 1966 Colonial went on the market two miles from us so we toured it and it was even more of a gorgeous and well-kept house than the first one, although it’s not within walking distance to town like we are now. We waited because we thought for sure it would go for above asking price within the first weekend (which we couldn’t afford). It didn’t so we waited for about two more weeks and then decided to make an offer. We have proceeded through the process with that home but I haven’t shown you any photos of it for two reasons. One, the buyers for our current home have one final contingency to meet a week from today. Two, we have something called a kick-out clause on the new house. Have you ever heard of that? It’s typically used when you have a contingency, like we did with selling our own home. Basically you can make an offer and have it accepted and then proceed through the home buying process knowing you could get “kicked out” if a better offer comes along by another buyer. To summarize: it’s a clause that’ll give you a month long feeling of nausea. 🙂 I haven’t wanted to show the house to you and then come back later and say… “Oh, just kidding. We actually have no where to go!”
We had, and have, to do a couple of things to make this next step:
1. Sell an investment condo that we had considerable equity in. We just sold that last week. Cue rejoicing for multiple reasons.
2. Sell our own home and use the commission (we are real estate agents) to put toward the new home.
Our goal is to put about 50% down so we can keep basically our same mortgage. We look at this new home as a great opportunity for a few reasons, but namely because of the space and because it needs some updating (and you know we love putting our own stamp on a home!). We love our current home but when both of us do considerable work from home and we love to entertain it feels tight quite often. An addition would have been a good idea but we predicted based off the current real estate market in our town that it would be smarter to move. When we broke it down into the price per square foot of the two homes it made us realize we are getting a great deal: we are selling our home for about $370 / sq. foot and buying the new one for about $179 / sq. foot. We are planning on renting out the almost completely separate master suite which will still make us feel like we have the space we crave but will allow us to not feel like we are stretching ourselves financially or buying a bigger home then we will use.
The sellers of our new home are leaving some pieces with great bones for us and we are completely thrilled to figure out how they are going to work in the new house. On top of that, I’ve already been stocking up on a few things that I’m already envisioning in the new house. I got this amazing rope cloche at Swank, my favorite store in Hamilton, NY while we were out there this weekend and picked up a few more great things as well.
After we are sure the buyers of our home have met our final contingency I’ll post an exterior photo of the “new” home but until it’s officially ours I won’t have any interior photos to maintain the privacy for the current owners. If you want to get a feel for some of the brainstorming I’m doing on the new house come and follow along my “New House” Pinterest board… I’m like a kid in a candy shop just gathering ideas. 🙂
ALSO: I’d love to do updated drawer and door fronts on the kitchen cabinets at the new house. Have you ever done this? If so, what company did you use?