Purchasing a house is a huge commitment. There are a lot of factors that go into the process of finding a new one. You’ve selected a house in Lincoln with the must-haves and might have made some compromises, but how do you know you’ve made the right choice? When you pull into your driveway, do you have a tiny sinking feeling that you wish you didn’t buy this house? Did you have a high-pressure deadline when you made your decision? Did you explore different areas and keep an open mind, or did you only look in one location? Do you find that your house is really too small to be functional? Or do you think, why do I have so much space? What’s worse than buyers remorse are the hidden expenses of owning the wrong house in Lincoln.
Doesn’t Fit The Budget
In a very optimistic mood, you wanted to buy your dream house and ended up with a big mortgage or rent bill every month. Eating ramen noodles almost every night in order to pay the mortgage was NOT what you had in mind when you pictured yourself as a homeowner. Perhaps the mortgage or rent is fine, and you moved into a handyman special. But fixing it up while living there and having work each day is a big challenge. Is the house more of a fixer-upper than you realized? Did you end up putting more money into house repairs than you planned on? Many smaller repairs and reveal bigger issues that need bigger repairs. Maybe this house doesn’t allow for enough entertainment or savings as you hoped. Perhaps your homeowner’s insurance was more expensive than you planned. These are hidden expenses of owning the wrong house in Lincoln.
Neighborhood Issues
Maybe the house does fit your budget, but what about the neighborhood? Coming home to good neighborhood vibes can really uplift your mood. Conversely, the wrong neighborhood or one that doesn’t match your personality will add lots of stress. Do you find yourself shopping in more expensive stores you don’t like because your favorite chain grocery store is too far away now? Or is the neighborhood grocery too generic or too specific for your needs. Also think about your commute to work. Is your drive to work further away? That will definitely add more to your gas bill, as well as waste lots of valuable time everyday. These are also some hidden expenses of owning the wrong house in Lincoln.
Utility Availability
Does your new house have well water? When you purchased it, you were happy to not pay high utility bills, but now you realize you are responsible for any well system repair. This can be very expensive and complicated, and you cannot put something like water off. For example, what if you have to redrill and move the well system? Do you hate lugging around water softener, or having to pay a company to come out and do it for you? Is your municipality planning a utility expansion in your area, and now you have to add another $20,000 to your tax bill over the next few decades? These won’t be daily or monthly expenses but they are not outside the realm of possibility. These are hidden expenses of owning the wrong house in Lincoln.
Structural Issues
Perhaps you are totally fine with the house purchase you can afford and love your neighborhood and have no pending utility issues… but you just noticed a crack along the floorboard by the front door. Maybe you dismiss it for the caulk shrinking… and then a few months later, its a little bit bigger… and bigger… is your foundation sinking? Maybe there’s a sinkhole nearby. You may also notice there are new cracks by the windows or new water stains on the ceiling… these are all small indicators that your house might have some structural issues. Structural issues may be the most difficult and scary to deal with. Also, these are hidden expenses of owning the wrong house in Lincoln.
How to Escape the Wrong house in Lincoln?
Lincoln and Nebraska in general have plenty of cash buyers for houses in any shape. Cash buyers or professional investors will let you sell your house as is and sell your mobile home fast for cash. They will often give you a cash offer within a few business days and can close fast, sometimes in a week. These buyers like us are a great option to get out of your wrong house ASAP, but prepare yourself to accept less than retail price. They will save you a lot of time and hassle by taking the house off your hands. You might be able to restructure your mortgage or transfer loan to another lender. Or the direct cash buyer may be able to take it over for you. If now isn’t the right time to ditch the wrong house, perhaps renting a room/the house out might be a good idea and sell when the market is best.