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Old 06-28-2006, 10:58 AM   #1
TripleDipping
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Default Need help in house buying...

My fiancee and I have been house hunting for a while and we came across one that we really like. The spec.:

- 2720 sq. ft.
- 3 bedrooms
- 2 baths

My question is: is a 4th room a necessity for a house of this size? I'm concerned that the resale value of the house will be affected because of the lack of rooms. What is, if there is, the rule regarding the number of rooms in a house in regards to the house's size?

I appreciate the help, and please feel free to advise on what other things that I should pay attention to. Thanks again!
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Old 06-28-2006, 11:22 AM   #2
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Although I don't know for certain, the resale value based on number of rooms would be more based on customer need, not size of house.

Here are important things to keep in mind when selecting a house:

1. Storage areas. The majority of Houses built today don't put enough storage areas in a House thinking they can upsell you with add on work. If you are like me and my wife and don't think about stuff like that when you are young then you end up with a House without enough storage space.

2. Neighborhood "friendliness" - What I mean by this is will you be happy with the Neighborhood. It's easy to fall in love with a House, but if the House surroundings don't meet your lifestyle that love is going to turn into resentment sooner or later. Things to avoid: don't live on a busy street if you have children or are planning on having children(mostly talking toddler-teen age here). The best thing to do is before buying a House, go spend some car time in the neighborhood on a typical Saturday morning/afternoon and even evening to get a feel for the neighbors habbits. If you have children you will look for other children around the same age playing.... if the parents of those kids trust their children to play in the neighborhood more often than not you will too. If you want a more quiet existence you will look for that instead.... Hopefully you get my drift.

3. ALWAYS, ALWAYS, ALWAYS spend the money to get a Structural Engineer to check out a house.... whether newly built or an older home. Otherwise you really don't know what you are getting yourself into. Foundation issues suck. Did I mention always do this?
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Old 06-28-2006, 11:25 AM   #3
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I gots more questions...

Is this a well established neighborhood? How old's the house? How big are the 3 bdrms? Are you close to highly desireable school/school district? How long do you plan to stay? Are you willing to remodel?

Based on my experiences... most of the entry level homes from DR Horton, David Weekly, KB, etc. with that sqft are going to have more than 3 bdrms, or a "bonus" room. Most likely two story.

Do you think potential buyers would be shopping your house vs. new ('95-) houses like these?
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Old 06-28-2006, 11:34 AM   #4
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plumbing and airconditioning....

the question is not whether you will have to pay through the nose in order to fix your plumbing and air-conditioning, but when will you have to pay through the nose to fix your plumbing and air-conditioning.

pay close attention to what you're getting in this regard.
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Old 06-28-2006, 11:49 AM   #5
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Quote:
Originally Posted by capitalcity
I gots more questions...

Is this a well established neighborhood? How old's the house? How big are the 3 bdrms? Are you close to highly desireable school/school district? How long do you plan to stay? Are you willing to remodel?

Based on my experiences... most of the entry level homes from DR Horton, David Weekly, KB, etc. with that sqft are going to have more than 3 bdrms, or a "bonus" room. Most likely two story.

Do you think potential buyers would be shopping your house vs. new ('95-) houses like these?
The neighborhood is one of the best neighborhoods in the best part of the city (I live in Little Rock, and the house I'm looking at is located in west Little Rock). The house is brand new, been on the market for roughly 9 months.

The master bedroom is very big, so is the bathroom. The other rooms have very ample space (not sure of actual sq. footage), which was what attracted my attention. And then closets in the rooms are spacious as well, which I think is a plus as well.

Most of the residents there are familes with small children, which leads me to believe that school district, safety, healthy environment are no issues.

The longest that I think we'll stay in that house would probably be not more than 5 years. There're some changes that I'd want the builder to make before we close (build a fence, remove some shelves and cabinets in the living room).
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Old 06-28-2006, 02:14 PM   #6
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I would recommend that you look into a American homeshield warranty no matter how you end up. In todays market, unless the property is located in a horrible area you are pretty much safe with keeping your resale value if it hasn't increased in value which is the norm. You have already indicated the things that I would have you watch out for such as school district, neighborhood perception, security, etc. Check to see if fire hydrants are within 250 feet of the property or more as that could affect insurance. Call your insurance agent. They will likely have a worksheet for prospective home buyers. Enjoy this exciting time.

Best wishes. I'll say a little prayer for you.
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Old 06-28-2006, 02:28 PM   #7
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3 bedroom 2720 sq feet? How big are the bedrooms? 25-20? Where does the square footage come from?
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Old 07-12-2006, 04:49 PM   #8
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UPDATE:

Problem!!!!

I'm a few days away from the closing date and I managed to look at the appraiser's report on the appraisal on the house. The appraiser measured the house to be 2650 sqr. ft. when the builder listed the house as 2720 sqr. ft. When I approached both the appraiser and builder about the discrepancy I was inform that the appraiser did his measurement based on the living space of the house, whereas the builder did his brick-to-brick of the house.

I feel so cheated! The builder refused to negotiate the price of the house and theatened that if I back out of the deal, I'll lose my $1000 good faith deposit.

Can a house's size be measured based on the measurer's preference? Is there a standardized law regarding how the square footage of a house is measured? I need help!
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Old 07-12-2006, 05:01 PM   #9
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I'll see what I can find out.
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Old 07-12-2006, 05:11 PM   #10
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Thank you so so much. I'm in such stress right now.
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Old 07-12-2006, 07:41 PM   #11
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I believe that measurement standards (ANSI) are voluntary for single family buildings.

did you have anyone represent you in negotiating the contract? an attorney or a realtor?

more importantly, did the seller make any representations and/or warranties in the contract regarding size? was it even mentioned?

good luck.
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Old 07-12-2006, 09:29 PM   #12
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Quote:
Originally Posted by Mavdog
I believe that measurement standards (ANSI) are voluntary for single family buildings.

did you have anyone represent you in negotiating the contract? an attorney or a realtor?

more importantly, did the seller make any representations and/or warranties in the contract regarding size? was it even mentioned?

good luck.
I don't have an attorney and the realtor is pretty much useless.

There are no warranties made on the offer contract regarding the size of the house. I really didn't know such a thing would happen.

I'm pretty much screwed, am I?
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Old 07-12-2006, 11:01 PM   #13
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I think you are screwed unless you want to walk away without your 1K bucks.

I'm not sure your recourse if there was an error on the disclosure. I think you are buggerred. So that's 70sqft delta, hmmm...pretty big swing.

Of course I guess there's BBB. I don't know if the builder is local or national, but certainly a call and letter to ceo, newspapers can't hurt.

I would possibly find some sort of national realtor's group and quiz them on it, sounds like you need another opinion and some way to get into binding arbitration on it. I don't know if the builder gives a crap but potentially reporting them to a governmental oversight group might help.

Does the appraiser say that is common practice for builders?
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Old 07-12-2006, 11:03 PM   #14
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I would be interested in any of the contracts if there is a sq.ft number. If so that would seem to be something that is bogus.

Of course you can always refuse to close as well. If it's going to cost your 100*$80 (e.g.) for the sq.foot loss, the thousand might be the way to go.

Not to mention the appraisal and all the other crap you've paid.
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Old 07-12-2006, 11:10 PM   #15
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Get a Lawyer now.

Did you sign anything that gave up rights? If not, you can probably find one on contention (maybe...).

In the future, you need to get EVERYTHING in writing when doing a House deal. If it's not on paper, it didn't happen.
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Old 07-14-2006, 03:19 PM   #16
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Update and good news!

After a whole lot of complaining and reasoning with the builder. He decided to decrease the price because of the size discrepancy and also throw in some freebies with the house to make the deal fair.

Walkthrough is scheduled on Saturday (tomorrow) and if everything's good (God forbid sometihng else creeps up), we'll close on Tuesday. Words cannot describe how relieved I am because like what many of you said, legally I'm screwed and the only way out is that the builder be a good man and do what's right... and he did.

I've learned so, so much from this. I have a feeling I'll be a pain in the ass buyer in my next house.

Thanks for all your advice and please keep them coming i.e. what must I look for during walkthrough etc.
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Old 10-27-2010, 08:00 PM   #17
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Quote:
Originally Posted by alexamenos View Post
plumbing and airconditioning....

the question is not whether you will have to pay through the nose in order to fix your plumbing and air-conditioning, but when will you have to pay through the nose to fix your plumbing and air-conditioning.

pay close attention to what you're getting in this regard.
Yes, I agree with you. However, sometimes fixing the plumbing & air conditioning ends up costing more, which is why you can always fix it your self if you have any experience. You could always go to a plumbing supply store in Dallas and purchase a nice kit.
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Old 10-27-2010, 08:18 PM   #18
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Quote:
Originally Posted by ecenur View Post
Yes, I agree with you. However, sometimes fixing the plumbing & air conditioning ends up costing more, which is why you can always fix it your self if you have any experience. You could always go to a plumbing supply store in Dallas and purchase a nice kit.
Dude this was like 4 years ago....crack is wack!
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Old 10-28-2010, 09:08 AM   #19
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he's got a poop fetish.
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