House Lust

This weekend we had some great weather, and so we spent a few hours yesterday afternoon gawking at the pretty houses. I nearly went into architecture, and even though I did not choose it as my career, I still draw floor plans and elevations as a hobby. There are dozens of open houses all over the area and if something really gets our attention we will stop and take a look.

Yesterday we drove through several neighborhoods where prices ranged from $280-500k. Of course in those price ranges we found a lot to like about the houses. One in particular really stood out and I immediately started running the numbers in my head. Could I ever afford it?

In our area basic housing will run around $80 per square foot. That will get you a house that is a little older (built in the 50's and 60's) and may need some touch ups but is in generally good shape. For $100 per square foot (the range for our house), you can get a mint condition house with some moderate upgrades. In the $115-125 per square foot price point you will find upgrades like granite counter tops, well manicured lawns, and real wood floors.

Our next house would ideally have four bedrooms and an office. In the perfect world there would be a basement or bonus room that would serve as the playroom for the (still hypothetical) kids. We can probably meet our bare minimum requirements for $280k but once we pile on a few items from our wish list it is more realistically a $350,000+ price tag. However, we don't plan to buy a house or move until our family has grown and will need more space.

Thus, cruising for a house is in some ways similar to going to the mall "just to look," but the key difference is that thankfully it isn't possible to simply plunk down the Visa and make an impulse purchase. There have been a few times that if it were that easy I may have been smitten enough to reach for my wallet.

I really enjoy these casual browsing sessions. It is great to learn more about the latest trends and get ideas for our own home. These dream homes also give me motivation to do more outside my day job to move toward achieving the dream. However, it can be frustrating to when I realize that it would take a massive windfall to make the "ideal house" fit our budget. I recommend spending an inexpensive afternoon taking stock of the local housing options but be sure to leave the pen at home. It isn't inexpensive recreation if you go off and buy a house!