Buying a House
- Thread starter Workdawg
- Start date
Workdawg
NARWHAL
Well, after only 2 days of looking, Jenny and I have found a potential townhome... we are going back to take a second look tonight.
For reference, here is the MLS ID: 3569972.
It's a 2BR/2.5 bath in Shakopee, right off 18 about half a mile south of 169.
We both really like the floorplan, it's got some unique features and things we really like. Also, I think it's in a great location (near 169, shopping, etc).
Some things we've considered already (besides the floorplan) the first time we were there are: the potential road noise from the road out back and the direction it's facing (WSW). There is some light wooded area between the yard and the road, and when we were there the road noise wasn't significant. While the house faces West (setting sun), my initial concern was sun in the morning interrupting my sleep. Convienently, the master bedroom is on the front side of the house (west side), so this shouldn't be an issue. The kitchen/living room downstair have many windows facing East, which would be nice for light in the morning.
One of the main things we need to find out is the pet restrictions... the MLS listing indicates both numbers and height/weight restrictions. We have a cat and small dog now, but want to get an English Bulldog (height not an issue probably, but weight could be) sometime soonish. This would also bring into play number restrictions.
Looking for tips from you guys as far as stuff to ask about/look at while we are there tonight and to have our agent ask about. Obviously we will make sure to have an inspector look at it eventually, at this point we are just making sure everything still looks good on the second go-round. Things such as I mentioned above (road noise, direction it faces) that we might not consider while we are there.
For reference, here is the MLS ID: 3569972.
It's a 2BR/2.5 bath in Shakopee, right off 18 about half a mile south of 169.
We both really like the floorplan, it's got some unique features and things we really like. Also, I think it's in a great location (near 169, shopping, etc).
Some things we've considered already (besides the floorplan) the first time we were there are: the potential road noise from the road out back and the direction it's facing (WSW). There is some light wooded area between the yard and the road, and when we were there the road noise wasn't significant. While the house faces West (setting sun), my initial concern was sun in the morning interrupting my sleep. Convienently, the master bedroom is on the front side of the house (west side), so this shouldn't be an issue. The kitchen/living room downstair have many windows facing East, which would be nice for light in the morning.
One of the main things we need to find out is the pet restrictions... the MLS listing indicates both numbers and height/weight restrictions. We have a cat and small dog now, but want to get an English Bulldog (height not an issue probably, but weight could be) sometime soonish. This would also bring into play number restrictions.
Looking for tips from you guys as far as stuff to ask about/look at while we are there tonight and to have our agent ask about. Obviously we will make sure to have an inspector look at it eventually, at this point we are just making sure everything still looks good on the second go-round. Things such as I mentioned above (road noise, direction it faces) that we might not consider while we are there.
Workdawg
NARWHAL
One of the nice things about a TH is that hazard insurance is covered by the HOA... I'm not sure if having a fireplace would include that or not. I think it would, seeing as they were built with the fireplace and it would pose a threat to all the other homes in the block. I'll ask about it. Thanks!
W
WhiteSpy9
Guest
that is the model home or the actual one you are going to bid on?
Jana
New Member
Your hazard insurance/HOA insurance only cover the exterior. You are responsible for any/all interior coverage which is H06 or Condo insurance. You would be responsible for the interior, and having a fireplace increases that coverage. You'll want to check with your insurance agent. It really won't be significant because it is a townhome. My insurance right now is $24/month, and that is also for having renter's so I'm covered if anything were to happen to them & they came after me.
LASERBLUE135
Active Member
Get an idea of your total monthly payment(s).
for example:
monthly association fees: 150 (don't know what the average is)
mortgage, interest, mortgage insurance, taxes, home insurance: 1400
heat: 130
electric: 30
garbage: 30
water: 30
total monthly payment: $1770
And really ask yourself if you want to make that payment for 5-10 years minimum. You payment can change dramatically from place to place. I personally wouldn't want to spend $175,000 for a townhome in Shokopee right now. I'd slow down and look at many more places. This market is unreal and there are AT LEAST 72, 2 bedroom/2 bathroom 1500+ square foot units at or bellow $175k in that close area.
I don't know what you're pulling in right now, but I'd go cheap and save some cash in the bank. Build up for the next house you buy in 10 years. Be happy with the place you buy now, yes! But consider the benifits of buying a cheaper place, as there are unbelievable values out there. Have fun and happy home hunting.
for example:
monthly association fees: 150 (don't know what the average is)
mortgage, interest, mortgage insurance, taxes, home insurance: 1400
heat: 130
electric: 30
garbage: 30
water: 30
total monthly payment: $1770
And really ask yourself if you want to make that payment for 5-10 years minimum. You payment can change dramatically from place to place. I personally wouldn't want to spend $175,000 for a townhome in Shokopee right now. I'd slow down and look at many more places. This market is unreal and there are AT LEAST 72, 2 bedroom/2 bathroom 1500+ square foot units at or bellow $175k in that close area.
I don't know what you're pulling in right now, but I'd go cheap and save some cash in the bank. Build up for the next house you buy in 10 years. Be happy with the place you buy now, yes! But consider the benifits of buying a cheaper place, as there are unbelievable values out there. Have fun and happy home hunting.
LASERBLUE135
Active Member
your what insurance is $24 a month?
W
WhiteSpy9
Guest
Here is my $0.02.
It looks like a wonderful pick. Lots of natural light, but just a few things I picked up on from the pictures.
The entrance is split with your neighbor, I wouldn't enjoy walking out of my house every morning and seeing my neighbor standing there or if they have kids. Them coming in and out etc....
The master bath is a bit small and it looks like the fixtures are dated.
Your laundry is on the ground floor(through the kitchen). Laundry sucks already, no one likes having to walk all the way through the house to do it.
Just other small things to consider. I would confidently say that you could get that house for quite a bit cheaper than what it is listed for.
At the end of the day though, the small things don't matter as much as you being happy with your choice and ultimately I would think location and floor plan would determine that...
It looks like a wonderful pick. Lots of natural light, but just a few things I picked up on from the pictures.
The entrance is split with your neighbor, I wouldn't enjoy walking out of my house every morning and seeing my neighbor standing there or if they have kids. Them coming in and out etc....
The master bath is a bit small and it looks like the fixtures are dated.
Your laundry is on the ground floor(through the kitchen). Laundry sucks already, no one likes having to walk all the way through the house to do it.
Just other small things to consider. I would confidently say that you could get that house for quite a bit cheaper than what it is listed for.
At the end of the day though, the small things don't matter as much as you being happy with your choice and ultimately I would think location and floor plan would determine that...
LASERBLUE135
Active Member
$24 a month is pretty good, I'm at $50 a month. I guess that's pretty cheap too for a lot of coverage.
Workdawg
NARWHAL
I thought 175k for a 2 bedroom place seemed a little high too just looking at the listing, however after checking up on zillow and the scott county website, it seems like a pretty good deal. Zillow has most of the houses around it listed at 190-200k+ and the scott county website has the property value (for tax purposes) last year at 195k. In the TH complex there are only a few other THs for under 185k, and they are all smaller, 2 br, 1.75 ba and only 1300sqft. The one we are looking at is over 1600. The location is very appealing as I mentioned before.
Here is a link to the zillow info...the house we are looking at is the red one in the upper right listed for 175k.
http://tinyurl.com/housezillow
It might only be 2br, but there is a sizeable loft upstairs (that could easily be a bedroom if you put some walls in) and the layout of the main floor is very appealing and open.
We've looked at some 2br places in the 150 range and they weren't that impressive. We also looked at a couple 3br for about 180. They were decent, but we don't really need 3 br.
I agree that it seems like we are going pretty quickly, I didn't expect to find something right away, but this place seems like just what we are looking for, and the price seems fair from what I've found. Our agent is going to look into the price of similar and surrounding units, as well as the history of the house and let us know tonight how things look. We'll see how it goes tonight and
Here is a link to the zillow info...the house we are looking at is the red one in the upper right listed for 175k.
http://tinyurl.com/housezillow
It might only be 2br, but there is a sizeable loft upstairs (that could easily be a bedroom if you put some walls in) and the layout of the main floor is very appealing and open.
We've looked at some 2br places in the 150 range and they weren't that impressive. We also looked at a couple 3br for about 180. They were decent, but we don't really need 3 br.
I agree that it seems like we are going pretty quickly, I didn't expect to find something right away, but this place seems like just what we are looking for, and the price seems fair from what I've found. Our agent is going to look into the price of similar and surrounding units, as well as the history of the house and let us know tonight how things look. We'll see how it goes tonight and
Jana
New Member
Could be the size of my townhome too. This was for my first place I bought 6 years ago, and it's only 1100 sq ft.
Dan - Are you locked down to that area? I'm sure you could find just as nice of places for less in other areas of the city.
Workdawg
NARWHAL
That is something I've thought about, I'd be going out through the garage 95% of the time though.
There actually doesn't appear to be a picture of the master bath. That pic is of the second bath upstairs. The master bath is actually pretty big, and the closet in the master bedroom is huge.
That is something we were considering, but its not enough to sway the decision at this point I don't think.
I agree here... we shall see what our agent says about the price and go from there, I'd never offer up asking price right off the bat in the current market; and as I've said before, we really like both floorplan and location.
ZoomZoom Diva
New Member
Actually, the association coverages I have seen cover the structure whether it is inside or outside. The structure is even defined to include built-in contents such as cabinets, dishwashers, and over-the-range microwaves. HO6 or condo insurance covers the deductible on the association policy and contents.
LASERBLUE135
Active Member
Zillow is easily 20% too high on many place right now, so be carefull there, I just had the city inspector at my house at 7:25am this morning and they are recalculating the taxes in all areas too.
$175,000 "sounds" right. Doesn't it, but prices are STILL falling. If you really think that that place is the one. I'd start negotiating at $20,000 less. You CAN NOT GO TOO LOW in this market. There is "blood in the streets", you have all the control. Make the most of a great opportunity.
Jana
New Member
Yes, for those such items. My main point is you are still responsible for your own items inside. And having a fireplace can cause an increase because of the fire risk being higher.
LASERBLUE135
Active Member
from Zillow:
"Shakopee home pricing:
Average 2-bed price: $146,500"
I'm just saying...
also from zillow:This home was last sold:
Sold 11/21/2001: $169,445
OUCH!!!!!!!!!!!!!
also from zillow: Recently sold...
8061 Stratford Cir S # 1204 Shakopee MN 55379
3 beds, 2.5 baths Recently Sold: $153,075 Probably almost exactly like yours
and zillow has that one ^^^ at $207,000, has yours at $196,500
I'm just saying....
"Shakopee home pricing:
Average 2-bed price: $146,500"
I'm just saying...
also from zillow:This home was last sold:
Sold 11/21/2001: $169,445
OUCH!!!!!!!!!!!!!
also from zillow: Recently sold...
8061 Stratford Cir S # 1204 Shakopee MN 55379
3 beds, 2.5 baths Recently Sold: $153,075 Probably almost exactly like yours
and zillow has that one ^^^ at $207,000, has yours at $196,500
I'm just saying....
Last edited:
ZoomZoom Diva
New Member
I know this Ryland design well. I had friends with an end unit upper, and I live across the street from some of these.
Those are the base fixtures. I have the same ones in my house, and while dated in appearance, they are reasonably attractive and functional. It is also an inexpensive thing to replace if desired, and that is not the master bath.
I have a strong preference for a ground floor laundry. Not only does it keep the noise and vibration away from your living space, but it reduces the risk of serious damage if a water incident occurs.
My issue was the floor plan was not a fit for me. You find a use for three bedrooms much more quickly than you'd ever thing. I manage quite easily to fill up 1800 square feet with three bedrooms (my bedroom, guest bedroom, and office) sitting room, dining room, den, and kitchen.
I would be careful about lowballing too far because it's an exaggeration that everyone selling is desperate. An excessive lowball could turn off a potential seller. Bottom line is living in a place and a location you truly love and want to live in is more important than saving some money.
Laser, I would also say your utilities are overstated.
Those are the base fixtures. I have the same ones in my house, and while dated in appearance, they are reasonably attractive and functional. It is also an inexpensive thing to replace if desired, and that is not the master bath.
I have a strong preference for a ground floor laundry. Not only does it keep the noise and vibration away from your living space, but it reduces the risk of serious damage if a water incident occurs.
My issue was the floor plan was not a fit for me. You find a use for three bedrooms much more quickly than you'd ever thing. I manage quite easily to fill up 1800 square feet with three bedrooms (my bedroom, guest bedroom, and office) sitting room, dining room, den, and kitchen.
I would be careful about lowballing too far because it's an exaggeration that everyone selling is desperate. An excessive lowball could turn off a potential seller. Bottom line is living in a place and a location you truly love and want to live in is more important than saving some money.
Laser, I would also say your utilities are overstated.