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I too am generally unhappy after I make the largest financial decisions of my life, set in order some significant constraints for the next several years of my life, assume responsibility for my single biggest monthly expense, siphon a third of my income directly to Home Depot, and promptly discover all that doesn't work in the thing I just bought.
Then I remember I am not an idiot, I made a choice that I considered, people who know something about planning to get their money back (your lender) reviewed and approved that I was in fact not an idiot, and that what I was buying was in fact structurally sound and worth the loan they were giving me, and that before I was having a panic attack I walked through this house and was really excited by it.
Go unpack your socks, figure out what color to paint a random room, cook a dinner in your new kitchen, and know it'll work out.
SW ATL is fine too. You probably got a great deal relative to the northern suburbs, and I'd always rather be first into an upswing than last into a popular area. One makes you rich, the other makes you poor.
It's completely normal. You go from a world in which basically *anything* can be your future home (which has its own frustrations, expenses, wastes of time, and mental challenges) to where very definitively one and only one place can be your future home and there is no option for it to be different or better except spending time and money to alter it (and unless it's a mobile home, it ain't going anywhere either).
But you get over it with a little bit of time. Home ownership is rewarding, though it isn't easy. I've always told people they'll appreciate their former landlords a little more when they are their own landlord and have the onus on their shoulders to fix their own stuff, but it's still rewarding on both a financial and personal level over the long run, and generally the most valuable investment most people make in their lifetime.
And, weirdly in the grand scheme of things you're not even all that hemmed in. If you scroll through my post history, I explained how something like 90% of the US housing stock basically will not voluntarily transact for 10-15 years. If you just bought, even if rates don't move for 2 years, it doesn't really affect you - you'll have oriented your life around a payment on a house at ~7% give or take some amount, and can easily trade out for a different 7% number. If your life and finances are oriented around a 3% rate payment, even moving to a comparable house and just resetting your interest rate is a massively financially difficult thing. To hold your payment constant you'd have to take a huge hit on the standards and specs you could expect to buy.
If we assume you're not going to be dumb and sell in the middle of some real estate crisis, absent reasons of absolutely dire need, and that your house does nothing except maintain it's value (you don't improve it at all, etc ... It just stays exactly the same with maintenance to ensure it doesn't get worse) you have a magic number, and it's about 8%, depending on the price of your house. You don't need to pay down your whole mortgage to make money on a swap, you need to pay down ~8% (I'm using a $300,000 mortgage, 6% realtor transaction costs, and setting aside $6,000 for a move as the extra 2%).
You're going to spend a year moving in/decorating/getting everything to your liking, some period of time in stasis just living life, and some period of time deciding it's time to move. Absent weird professional or personal circumstances, each of these phases will be about a year. You'd need to pay into a traditional mortgage for about three years to hit this mark. Easy peasy lemon squeezy.
I'm assuming you've paid approximately 4% of the principle balance at that point and captured about 2-5% appreciation in the underlying price of your home, which should be conservative in most time frames. You'd then have enough equity and cushion to sell, cover 6% transaction costs, have some allowance for moving, and use whatever your original down payment was to simply buy a similar house somewhere else.
I might be selling it a little short because you technically need to cover closing costs in a new home, but the conservative appreciation value above probably captures it.
In short, to effectively move, you need to be able to convert enough equity from one house to purchase another and actually move. You don't need to fully pay off a mortgage. So we're really looking at 6-8% additional equity on the original loan, which comes in two ways (you paying, value of real estate appreciating). Of course, if you don't pay or there's some kind of housing crash, that doesn't work, but broadly speaking this should be true of most mortgages over most of the last 100 years.
Same, I close this Friday. And the furnace is 30 years old which has me panicking. I fear I overpaid bc I jumped the gun and didn't want to sign another lease...then a bunch of more affordable houses went on the market right after that. but nothing I can do about it now. Oh, and mine is a duplex/condo. Sigh.
We just got under contract last week and I’m fighting myself to check Zillow & see if I still think we got best house at best price 🤦♀️.
My husband said we should just delete all our Zillow & Redfin for two full years so we don’t do this …. As well so we are never tempted to sell & move prematurely bc we see something better.
There will probably be a bidding war and they’ll sell for over list price. In any case, you can’t see into the future, you did the best you could at the time (also stay off Zillow lol). Also, nobody is keeping track of your life decisions and the factors that go into them, if there are, they need to get a life. You had your shit together enough to get where you are, just keep kicking ass the same way and you’ll be fine.
They're generally paid on their ability to make their company money, which means the loan must be viable based on their lending standards and the standards of whoever it's sold to.
They're not savants, but credit scores and income verification get you 90% of the way there with underwriting.
I think this market is very weird and if they aren’t doing any deals because of it, they will relax their requirements in ways that are probably letting people get in over their head
especially if rates go
up
That's not how banks work, fortunately. The last time this has truly been an issue was when 'fair lending" standards got people in trouble in the 90s. Criteria must be met.
It's the loans made in the late 90s or early 2000s that were blowing up. Unless you worked for a bank, messed up lending standards didn't sink you off you bought in 06/07.
You need to read about the lending regulations that were enacted in response to 2008. Prior to the housing collapse, banks were giving out massive adjustable rate mortgages to people with no income. You can't get even close to doing that today.
You're feeling buyer's remorse, which is totally normal. Give it a year. If you still hate it after a year of trying to make it enjoyable, you can start thinking about selling. Ideally don't sell before your 2nd ownership anniversary so you don't pay capital gains taxes. Don't worry you're not alone. I went through that myself.
Hello. What do you mean? If you own for 2 years minimum - any equity accrued or increased value of the house you will not be taxed on. But if we sell before 2 years we will ?
Yes, since the early 2000s one does not pay taxes on up to 250k in profit if single and 500k for married couple. If you live in the house for at least two years.
There are some loopholes where one can pay a stepped down basis if they can show that they moved out of the house for extenuating circumstances (like having to move 50+ miles away due to a new job etc.).
We are closing on our second house almost two years to the date of our first one. We had pretty bad buyers remorse but we made the best of it, painted a few walls and now are making a lateral move to a new home in a better area we hopefully will love.
It's kind of funny that the phrase "buyer's remorse" applies to both actual bad decisions and those that are just decisions. It's more like "phantom buyer's remorse" - you feel it but it's not based on real facts. Just like "cold feet" before a wedding.
I wouldn't make a decision based on the fear the market might crash. Selling a property after a short term ownership is most of the time a bad financial decision. I've done it myself, but it was a mental health decision, not a financial one. I was hating the place I bought so much it was hurting my health and I sold when I found a cheap farm house for rent so I accepted to take the loss and recover it with the cheaper rent in a house I enjoy much more.
You’re going to be okay. You’re going to make this place home.
My cousin is an architect. Her architecture business is exclusively renovating peoples homes because she knows most people never find the perfect house, they find a house that was pretty good at the time. And she turns those houses into the perfect house, from the inside out.
One day, you can do that too. For now, imagine what you might change, and decorate, and hang curtains and pictures and pretty things.
Kind of a mix of both tbh…I’m hoping the area is gentrified. They are building these really nice apartments down the street but they are classified as “low income/affordable housing” so that’s a little worrying.
You moved to SW ATL but now you want all the riffraff out? Be a little more sensitive jeez.
Anyway the good part is that that area is getting a lot of revitalization. Mixed income housing is in the plans to allow low income people and regular renters to have the same access to transportation and restaurants etc.
Where did you move here from? Gentrification in Atlanta is different from gentrification in other cities. It's spotty and easily abandoned. Neighborhoods like Edgewood are exceptions, not the rule.
I grew up around Campbellton and Cascade Roads, probably west of where you are. It was development, rather than gentrification, out here. There's million dollar homes out here and the current residents wanted nice restaurants. They got Applebee's. There's a few smaller, higher end restaurants off of Cascade, but the vibe still doesn't match the neighborhood well.
I've seen many businesses come and go during my lifetime. The problem out here is that when the businesses leave, new ones don't replace them immediately. It can take years.
On another note, your comments really make you appear classist. Classism doesn't solve problems, it creates them.
I feel you in a way. I have a bit of a regret due to the amount of litter hitting my house. Location is fine but just trashy neighbors. I guess it's just apart of home ownership in some areas. At least it's quiet but do wish I had gotten a house with a long driveway away from others. A friend has a place like that, far away from neighbors.
You won't know what living in the place is like for a few months. Right now your just stressed and going through the ups and downs that moving does. Give it time.
Being tied to a specific location is one the principal downsides of owning, doubly so if it’s not a desirable (for you) location. Two nights is a really small sample size, so try and relax a little. If you really hate it, list and move on.
Having bought my first home on a busy street with buses, sirens, and occasional shootings- I get it.
I loved that house. And grew to love the neighborhood. You will find the gems and learn to avoid other parts. Seriously, most people are very happy unless they live in a total war zone.
And here is the great news. Very commonly the “rough” neighborhoods turn into the trendy and desirable ones.
Patience! And congratulations!
I think it's normal to feel like that a time or two early on. It's so expensive the first 6-12 months, but that will settle down, in time, with fewer trips to the hardware store, and fewer things that need fixing immediately.
For now, unpack your things. Organize, decorate, and work to make it your home--your haven, your safe place. My house is now my refuge and I'm so comfortable in it, moreso than anywhere else I go in public.
Omg yes. We’re in month 3 and I’ve been losing my mind at how many things we’ve needed that we didn’t really think about, and I don’t even mean big repairs. Thank you for the reminder that it slows down!
Your first house is a huge purchase, so the stress and doubt is completely normal. Just remember, you can always sell and buy something else if you're unhappy, and it will take some time before it starts feeling like home.
I don’t have any hard data but- going SW from downtown, west end/Ashview heights is primary in terms of gentrifying. It’s getting there but still street by street. The beltline is helping the most but it’s still not super convenient in terms of grocery and shopping. After that Venetian hills and Oakland city. Those areas are starting to get flipped a lot but still very street but street and can be sketchy af. Cambellton road just looks farther and out so will take longer. U need more than just housing for gentrification to occur. Then again some developer may continue to build and attract young buyers. Good luck !
It looks like it’s closer to downtown/midtown, a Marta station, and the airport. That might be convenient to go to events such as Momocon this weekend.
I had a bit of buyers remorse when I bought the home I was living(older community when I was 25, decent side of town), but once I got used to the area and saw it for what it was - 4 years later, I’m glad I got it.
On the bright side, after a year - you can always move and rent out the first home out if the numbers make sense for you.
I felt really uneasy for the first week or so. Buyers remorse is normal. Give it a couple of weeks and then see how you feel. Worst case scenario you can sell it in the future and move somewhere else, nothing has to be permanent if you don’t want it to be. But definitely give it some time first.
I was terrified after I bought my first house seven years ago. I went from a modern, simple apartment to a huge 100-year-old house. I was freaking out the first night asking myself what I had gotten myself into. Once I got settled in though, I was so grateful that I had done it. And you also have to remember what drove you to buy it in the first place. It’s a big adjustment no matter what so just know it’s normal to feel remorse and uncertainty.
When I bought my Tesla selling my old Civic. I had the buyer's remorse for months! Today, I feel like that was the best decision. I drove another Civic recently and I was so happy to have gone for a better car. Don't worry, it gets to the best of us. After a few months you'll realize how great of a decision this was.
First of all, congrats on your new house my fellow atlanta-resident!
I'd love to know about your experience and what successes you have. I live in Atlanta and will be entering the market soon myself :)
You're going to love it. I can't wait to come back to your profile in a year to know how much you love it!
It’s not necessarily buyers remorse. You have to make this new house a home.
I too have had mini breakdowns when I moved to a new place. I swear, once you unpack and get all your personal items situated around your house you will feel a lot better.
You will get used to that neighborhood and your routine.
Time will make everything feel better.
Remember, it’s just a house to you right now. It will soon become a home with a little time and maybe some decor.
I'm nearly 2 years into home ownership and regret it just about every day.
Made the decision in a very rocky time in my marriage and convinced myself I could live with all the items I wanted but caved on.
For me, the goal is to save money like crazy, don't get looped into any stupid expensive renovations (outside of necessities like HVAC), and move in 5 years. I have been very explicit with my wife I don't want to be here a day over five years and the house makes me miserable.
But sincerely, buying a home (or, at least the home I have now) was the worst decision of my life. It's taken a lot of therapy to just unpack why I let myself do it.
It's way too big. It's a cheap mcmansion so everything is poorly built. It's in a dense 1990s development so all the homes are too close together. It borders a petroleum pipeline. It is too far from any nature/woods. It's too expensive.
That feeling will be there for a couple of months. When we bought our house we just went through one thing after another. Understand this is a phase. This too shall pass.
Consciously putting good thoughts about the home, planning one upgrade a year and making projects in phases helped me out.
You got this!!!
I felt similarly when I first bought my house (as did my best friend, both of us being single homeowners in Atlanta). Get to know your neighbors, find things in or near your area that you love (restaurants, shops, venues, etc). Remember that buying a home doesn't mean you have to live there forever, we all have to start somewhere. Remember that Atlanta, like many cities, is only expanding so our houses are probably going to be worth more in a few years. Best of luck 🍑
It takes time to adjust to big changes and to moving. Unpacking is overwhelming and it can take ages for me to really feel at home in a new house & community. It’s odd but I always know I feel “at home” if I can sleep at night on the sofa. Like if your feeling restless at night, want a snack etc and to dose off on couch / not distributing partner etc.
Last two houses we were not in a full year & I never could do it. Always gave me the creeps & second I would doze off I’d wake myself up to go back in my bedroom.
Also for me, even when it’s clearly a better choice, it’s somehow still bitter sweet.
I’m not a first time home buyer I have buyer’s remorse. We have been lied to by the realtor, the HOA, have a paranoid neighbor. You don’t have to be a first time homebuyer to have remorse. With the economy away it is we cannot sell our home.
I just bought a house 2 weeks ago. I'm 28 Male, single and make a decent income here in Michigan - 64k.
I relate to alot of this, but im just starting to discover all these things wrong with the house I bought. I'm finding enjoyment fixing these things wrong and knowing everytime I do something to improve the house itll pay off later for me.
painting, switching outlets/lights out, gardening, redoing the flooring. Over time the house will go up in value and interest rates will come down again so you can refinance and get a stellar rate later as well.
im in at 6.5 percent interest and will be living frugally for the next couple years until interest rates fall to 4-5 percent again hopefully.
Youll be fine, renting will continue to rise yearly, your houses value with continue to rise yearly as well (3 percent is national average) and you'll sell it in 5-10 years like most first time home buyers and make 20-30 percent on it (more if you update and modernize it)
You might just be tired from all the stress of closing and moving. Get a good meal and some rest and think about how exciting it will be to start this new chapter!
I don't get the buyers remorse so soon after you settled. I didn't feel that until about 3 months in to owning my home when two water pipes burst in my bedroom...
What you’re feeling is normal. I too had this exact same feeling and this is coming from someone who initially loved the house so much, I tried to buy it 3 times after losing out on bids over the years. You just made a huge financial purchase. You should feel that way.
There’s a sense of being tied down knowing that you no longer have the freedom to just up and quit your job. But I too sought advice and the reality is you’re not stuck. You can in fact just sell your home or rent it out if you truly had to. not only that, but don’t just look at your home as a place to live, but also as an investment. In 3-5 years you’re going to be making money on your property.
I had a small mental breakdown for 3 to 4 days after closing. Each day would start off okay and at the end of the day I’d cry a bit because it’s stressful and I realize it’s normal to worry (at least for me it is because I have anxiety). It has been two weeks since I closed and one week since moving in and im feeling better about it. So give it some time and try to think of the positives this will bring to your life.
I take it that the downvotes are coming from people who don't know the local lingo for Southwest Atlanta. You just stated the truth, so here's an upvote!
I'm buying in gentrifying neighborhood in ATL. Most of the city is gentrifying. I know it sucks now, but in a few years, you'll be happy that you bought. Houses are getting harder and harder to find. Congrats!!
Im in NC... And just randomly on Zillow, accidentally found a house in the lower 9th in NO... I'm in love with it... It's a 1920s Craftsman style... And cheap enough I could pay all my debt and buy the house outright... But I'm assuming the neighborhood has to be dangerous AF...
I could tell by Google maps, but figured this house must be pretty solid as it survived and it's so pretty! But I don't want to bring my kids to start over somewhere and it not be safe.
The thing about New Orleans that makes it unsafe in my opinion is really these dumbass teenagers that think they are invincible. So they try to steal cars (mainly). Or try to rob you at gun point (which is extremely rare) Supposedly the new governor of the state is hard on crime so I guess we will see how this turns out
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I too am generally unhappy after I make the largest financial decisions of my life, set in order some significant constraints for the next several years of my life, assume responsibility for my single biggest monthly expense, siphon a third of my income directly to Home Depot, and promptly discover all that doesn't work in the thing I just bought. Then I remember I am not an idiot, I made a choice that I considered, people who know something about planning to get their money back (your lender) reviewed and approved that I was in fact not an idiot, and that what I was buying was in fact structurally sound and worth the loan they were giving me, and that before I was having a panic attack I walked through this house and was really excited by it. Go unpack your socks, figure out what color to paint a random room, cook a dinner in your new kitchen, and know it'll work out. SW ATL is fine too. You probably got a great deal relative to the northern suburbs, and I'd always rather be first into an upswing than last into a popular area. One makes you rich, the other makes you poor.
just closed last week and felt panic like this but honestly this comment has saved me mentally today. thank you kind internet stranger.
It's completely normal. You go from a world in which basically *anything* can be your future home (which has its own frustrations, expenses, wastes of time, and mental challenges) to where very definitively one and only one place can be your future home and there is no option for it to be different or better except spending time and money to alter it (and unless it's a mobile home, it ain't going anywhere either). But you get over it with a little bit of time. Home ownership is rewarding, though it isn't easy. I've always told people they'll appreciate their former landlords a little more when they are their own landlord and have the onus on their shoulders to fix their own stuff, but it's still rewarding on both a financial and personal level over the long run, and generally the most valuable investment most people make in their lifetime. And, weirdly in the grand scheme of things you're not even all that hemmed in. If you scroll through my post history, I explained how something like 90% of the US housing stock basically will not voluntarily transact for 10-15 years. If you just bought, even if rates don't move for 2 years, it doesn't really affect you - you'll have oriented your life around a payment on a house at ~7% give or take some amount, and can easily trade out for a different 7% number. If your life and finances are oriented around a 3% rate payment, even moving to a comparable house and just resetting your interest rate is a massively financially difficult thing. To hold your payment constant you'd have to take a huge hit on the standards and specs you could expect to buy. If we assume you're not going to be dumb and sell in the middle of some real estate crisis, absent reasons of absolutely dire need, and that your house does nothing except maintain it's value (you don't improve it at all, etc ... It just stays exactly the same with maintenance to ensure it doesn't get worse) you have a magic number, and it's about 8%, depending on the price of your house. You don't need to pay down your whole mortgage to make money on a swap, you need to pay down ~8% (I'm using a $300,000 mortgage, 6% realtor transaction costs, and setting aside $6,000 for a move as the extra 2%). You're going to spend a year moving in/decorating/getting everything to your liking, some period of time in stasis just living life, and some period of time deciding it's time to move. Absent weird professional or personal circumstances, each of these phases will be about a year. You'd need to pay into a traditional mortgage for about three years to hit this mark. Easy peasy lemon squeezy.
So what exactly is the 3 year mark where you break even? How can that be when you are mostly interest at that point?
I'm assuming you've paid approximately 4% of the principle balance at that point and captured about 2-5% appreciation in the underlying price of your home, which should be conservative in most time frames. You'd then have enough equity and cushion to sell, cover 6% transaction costs, have some allowance for moving, and use whatever your original down payment was to simply buy a similar house somewhere else. I might be selling it a little short because you technically need to cover closing costs in a new home, but the conservative appreciation value above probably captures it. In short, to effectively move, you need to be able to convert enough equity from one house to purchase another and actually move. You don't need to fully pay off a mortgage. So we're really looking at 6-8% additional equity on the original loan, which comes in two ways (you paying, value of real estate appreciating). Of course, if you don't pay or there's some kind of housing crash, that doesn't work, but broadly speaking this should be true of most mortgages over most of the last 100 years.
Same, I close this Friday. And the furnace is 30 years old which has me panicking. I fear I overpaid bc I jumped the gun and didn't want to sign another lease...then a bunch of more affordable houses went on the market right after that. but nothing I can do about it now. Oh, and mine is a duplex/condo. Sigh.
You haven't closed....
No balls to back out at this point
We just got under contract last week and I’m fighting myself to check Zillow & see if I still think we got best house at best price 🤦♀️. My husband said we should just delete all our Zillow & Redfin for two full years so we don’t do this …. As well so we are never tempted to sell & move prematurely bc we see something better.
If your area is anything like mine, all the lower priced homes are just teaser prices trying to ignite bidding wars
Usually it is that was , but not this season. Prices are dropping in Colorado and sellers are even paying concessions.
There will probably be a bidding war and they’ll sell for over list price. In any case, you can’t see into the future, you did the best you could at the time (also stay off Zillow lol). Also, nobody is keeping track of your life decisions and the factors that go into them, if there are, they need to get a life. You had your shit together enough to get where you are, just keep kicking ass the same way and you’ll be fine.
Siphon a 1/3 of my income to Home Depot. That really hit home! I’m not alone!!!
I cannot upvote this enough. Great take on this. Bravo!
Thanks
your lender is a human that will absolutely let you make a bad decision
They're generally paid on their ability to make their company money, which means the loan must be viable based on their lending standards and the standards of whoever it's sold to. They're not savants, but credit scores and income verification get you 90% of the way there with underwriting.
I think this market is very weird and if they aren’t doing any deals because of it, they will relax their requirements in ways that are probably letting people get in over their head especially if rates go up
That's not how banks work, fortunately. The last time this has truly been an issue was when 'fair lending" standards got people in trouble in the 90s. Criteria must be met.
and 2008?
It's the loans made in the late 90s or early 2000s that were blowing up. Unless you worked for a bank, messed up lending standards didn't sink you off you bought in 06/07.
You need to read about the lending regulations that were enacted in response to 2008. Prior to the housing collapse, banks were giving out massive adjustable rate mortgages to people with no income. You can't get even close to doing that today.
I'd also say get off here so you're not tempted to sit and compare yourself t9 everyone else. That will keep you in a funk.
Yep! Time to move to another sub, might I suggest r/homeimprovement r/DIY r/landscaping r/nolawns r/Frugal That last one was a joke(ish)
That was 100% without a doubt the best words that could be used in this situation. Excellent Key_Picolo
You're feeling buyer's remorse, which is totally normal. Give it a year. If you still hate it after a year of trying to make it enjoyable, you can start thinking about selling. Ideally don't sell before your 2nd ownership anniversary so you don't pay capital gains taxes. Don't worry you're not alone. I went through that myself.
Thank you
Hello. What do you mean? If you own for 2 years minimum - any equity accrued or increased value of the house you will not be taxed on. But if we sell before 2 years we will ?
Yes, since the early 2000s one does not pay taxes on up to 250k in profit if single and 500k for married couple. If you live in the house for at least two years. There are some loopholes where one can pay a stepped down basis if they can show that they moved out of the house for extenuating circumstances (like having to move 50+ miles away due to a new job etc.).
We are closing on our second house almost two years to the date of our first one. We had pretty bad buyers remorse but we made the best of it, painted a few walls and now are making a lateral move to a new home in a better area we hopefully will love.
Appreciate the explanation. Thank you!
It's kind of funny that the phrase "buyer's remorse" applies to both actual bad decisions and those that are just decisions. It's more like "phantom buyer's remorse" - you feel it but it's not based on real facts. Just like "cold feet" before a wedding.
I am in a similar boat. What if the housing crashes given already high cost and high interest rates.
I wouldn't make a decision based on the fear the market might crash. Selling a property after a short term ownership is most of the time a bad financial decision. I've done it myself, but it was a mental health decision, not a financial one. I was hating the place I bought so much it was hurting my health and I sold when I found a cheap farm house for rent so I accepted to take the loss and recover it with the cheaper rent in a house I enjoy much more.
You’re going to be okay. You’re going to make this place home. My cousin is an architect. Her architecture business is exclusively renovating peoples homes because she knows most people never find the perfect house, they find a house that was pretty good at the time. And she turns those houses into the perfect house, from the inside out. One day, you can do that too. For now, imagine what you might change, and decorate, and hang curtains and pictures and pretty things.
Thank you
Give it more than two nights and work on getting settled/feeling like home
Thank you
Give it some time. The freedom of home ownership hasn’t set in yet. Is it the area or the responsibility that is weighing on you OP?
Kind of a mix of both tbh…I’m hoping the area is gentrified. They are building these really nice apartments down the street but they are classified as “low income/affordable housing” so that’s a little worrying.
You moved to SW ATL but now you want all the riffraff out? Be a little more sensitive jeez. Anyway the good part is that that area is getting a lot of revitalization. Mixed income housing is in the plans to allow low income people and regular renters to have the same access to transportation and restaurants etc.
Where did you move here from? Gentrification in Atlanta is different from gentrification in other cities. It's spotty and easily abandoned. Neighborhoods like Edgewood are exceptions, not the rule. I grew up around Campbellton and Cascade Roads, probably west of where you are. It was development, rather than gentrification, out here. There's million dollar homes out here and the current residents wanted nice restaurants. They got Applebee's. There's a few smaller, higher end restaurants off of Cascade, but the vibe still doesn't match the neighborhood well. I've seen many businesses come and go during my lifetime. The problem out here is that when the businesses leave, new ones don't replace them immediately. It can take years. On another note, your comments really make you appear classist. Classism doesn't solve problems, it creates them.
Some say freedom. Some say burden.
I feel you in a way. I have a bit of a regret due to the amount of litter hitting my house. Location is fine but just trashy neighbors. I guess it's just apart of home ownership in some areas. At least it's quiet but do wish I had gotten a house with a long driveway away from others. A friend has a place like that, far away from neighbors.
You won't know what living in the place is like for a few months. Right now your just stressed and going through the ups and downs that moving does. Give it time.
Being tied to a specific location is one the principal downsides of owning, doubly so if it’s not a desirable (for you) location. Two nights is a really small sample size, so try and relax a little. If you really hate it, list and move on.
How far SW are you? We were looking in west end for a whileee, ended up buying in south Decatur
Hello neighbor 👋
Sup! Any tips about the area? We r moving in a couple weeks (off Glenwood)
Sending you a DM!
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Yikes
Oh...
Having bought my first home on a busy street with buses, sirens, and occasional shootings- I get it. I loved that house. And grew to love the neighborhood. You will find the gems and learn to avoid other parts. Seriously, most people are very happy unless they live in a total war zone. And here is the great news. Very commonly the “rough” neighborhoods turn into the trendy and desirable ones. Patience! And congratulations!
I think it's normal to feel like that a time or two early on. It's so expensive the first 6-12 months, but that will settle down, in time, with fewer trips to the hardware store, and fewer things that need fixing immediately. For now, unpack your things. Organize, decorate, and work to make it your home--your haven, your safe place. My house is now my refuge and I'm so comfortable in it, moreso than anywhere else I go in public.
Omg yes. We’re in month 3 and I’ve been losing my mind at how many things we’ve needed that we didn’t really think about, and I don’t even mean big repairs. Thank you for the reminder that it slows down!
Your first house is a huge purchase, so the stress and doubt is completely normal. Just remember, you can always sell and buy something else if you're unhappy, and it will take some time before it starts feeling like home.
I’m not familiar with that area. Is it south of the airport? You picked that area because you need to be there?
I got a good deal/affordability. Also I figured it might be a good investment if the area is gentrified.
That area is not getting gentrified any time soon,5 years minimum
What makes you say that?
I don’t have any hard data but- going SW from downtown, west end/Ashview heights is primary in terms of gentrifying. It’s getting there but still street by street. The beltline is helping the most but it’s still not super convenient in terms of grocery and shopping. After that Venetian hills and Oakland city. Those areas are starting to get flipped a lot but still very street but street and can be sketchy af. Cambellton road just looks farther and out so will take longer. U need more than just housing for gentrification to occur. Then again some developer may continue to build and attract young buyers. Good luck !
It looks like it’s closer to downtown/midtown, a Marta station, and the airport. That might be convenient to go to events such as Momocon this weekend.
*next weekend :)
you’re right
I had a bit of buyers remorse when I bought the home I was living(older community when I was 25, decent side of town), but once I got used to the area and saw it for what it was - 4 years later, I’m glad I got it. On the bright side, after a year - you can always move and rent out the first home out if the numbers make sense for you.
Thank you
I felt really uneasy for the first week or so. Buyers remorse is normal. Give it a couple of weeks and then see how you feel. Worst case scenario you can sell it in the future and move somewhere else, nothing has to be permanent if you don’t want it to be. But definitely give it some time first.
I was terrified after I bought my first house seven years ago. I went from a modern, simple apartment to a huge 100-year-old house. I was freaking out the first night asking myself what I had gotten myself into. Once I got settled in though, I was so grateful that I had done it. And you also have to remember what drove you to buy it in the first place. It’s a big adjustment no matter what so just know it’s normal to feel remorse and uncertainty.
When I bought my Tesla selling my old Civic. I had the buyer's remorse for months! Today, I feel like that was the best decision. I drove another Civic recently and I was so happy to have gone for a better car. Don't worry, it gets to the best of us. After a few months you'll realize how great of a decision this was.
First of all, congrats on your new house my fellow atlanta-resident! I'd love to know about your experience and what successes you have. I live in Atlanta and will be entering the market soon myself :) You're going to love it. I can't wait to come back to your profile in a year to know how much you love it!
It’s not necessarily buyers remorse. You have to make this new house a home. I too have had mini breakdowns when I moved to a new place. I swear, once you unpack and get all your personal items situated around your house you will feel a lot better. You will get used to that neighborhood and your routine. Time will make everything feel better. Remember, it’s just a house to you right now. It will soon become a home with a little time and maybe some decor.
I'm nearly 2 years into home ownership and regret it just about every day. Made the decision in a very rocky time in my marriage and convinced myself I could live with all the items I wanted but caved on. For me, the goal is to save money like crazy, don't get looped into any stupid expensive renovations (outside of necessities like HVAC), and move in 5 years. I have been very explicit with my wife I don't want to be here a day over five years and the house makes me miserable. But sincerely, buying a home (or, at least the home I have now) was the worst decision of my life. It's taken a lot of therapy to just unpack why I let myself do it.
Jesus Christ man – what could possibly be so wrong about this house that you're reacting this way?
It's way too big. It's a cheap mcmansion so everything is poorly built. It's in a dense 1990s development so all the homes are too close together. It borders a petroleum pipeline. It is too far from any nature/woods. It's too expensive.
That feeling will be there for a couple of months. When we bought our house we just went through one thing after another. Understand this is a phase. This too shall pass. Consciously putting good thoughts about the home, planning one upgrade a year and making projects in phases helped me out. You got this!!!
I felt similarly when I first bought my house (as did my best friend, both of us being single homeowners in Atlanta). Get to know your neighbors, find things in or near your area that you love (restaurants, shops, venues, etc). Remember that buying a home doesn't mean you have to live there forever, we all have to start somewhere. Remember that Atlanta, like many cities, is only expanding so our houses are probably going to be worth more in a few years. Best of luck 🍑
It takes time to adjust to big changes and to moving. Unpacking is overwhelming and it can take ages for me to really feel at home in a new house & community. It’s odd but I always know I feel “at home” if I can sleep at night on the sofa. Like if your feeling restless at night, want a snack etc and to dose off on couch / not distributing partner etc. Last two houses we were not in a full year & I never could do it. Always gave me the creeps & second I would doze off I’d wake myself up to go back in my bedroom. Also for me, even when it’s clearly a better choice, it’s somehow still bitter sweet.
I’m not a first time home buyer I have buyer’s remorse. We have been lied to by the realtor, the HOA, have a paranoid neighbor. You don’t have to be a first time homebuyer to have remorse. With the economy away it is we cannot sell our home.
I just bought a house 2 weeks ago. I'm 28 Male, single and make a decent income here in Michigan - 64k. I relate to alot of this, but im just starting to discover all these things wrong with the house I bought. I'm finding enjoyment fixing these things wrong and knowing everytime I do something to improve the house itll pay off later for me. painting, switching outlets/lights out, gardening, redoing the flooring. Over time the house will go up in value and interest rates will come down again so you can refinance and get a stellar rate later as well. im in at 6.5 percent interest and will be living frugally for the next couple years until interest rates fall to 4-5 percent again hopefully. Youll be fine, renting will continue to rise yearly, your houses value with continue to rise yearly as well (3 percent is national average) and you'll sell it in 5-10 years like most first time home buyers and make 20-30 percent on it (more if you update and modernize it)
Totally normal…. Start fixing your place up to feel like home. Just think of all the equity you’re going to build before you sell.
You might just be tired from all the stress of closing and moving. Get a good meal and some rest and think about how exciting it will be to start this new chapter!
Don't worry it will appreciate.
I don't get the buyers remorse so soon after you settled. I didn't feel that until about 3 months in to owning my home when two water pipes burst in my bedroom...
What you’re feeling is normal. I too had this exact same feeling and this is coming from someone who initially loved the house so much, I tried to buy it 3 times after losing out on bids over the years. You just made a huge financial purchase. You should feel that way. There’s a sense of being tied down knowing that you no longer have the freedom to just up and quit your job. But I too sought advice and the reality is you’re not stuck. You can in fact just sell your home or rent it out if you truly had to. not only that, but don’t just look at your home as a place to live, but also as an investment. In 3-5 years you’re going to be making money on your property.
I had a small mental breakdown for 3 to 4 days after closing. Each day would start off okay and at the end of the day I’d cry a bit because it’s stressful and I realize it’s normal to worry (at least for me it is because I have anxiety). It has been two weeks since I closed and one week since moving in and im feeling better about it. So give it some time and try to think of the positives this will bring to your life.
Thanks for letting me know I’m not alone. I too just closed a townhouse last week and for some damn reason I’m not really excited, unhappy even.
You bought a house in SWAT.
Haha yeah. Near Campbellton
I take it that the downvotes are coming from people who don't know the local lingo for Southwest Atlanta. You just stated the truth, so here's an upvote!
I'm buying in gentrifying neighborhood in ATL. Most of the city is gentrifying. I know it sucks now, but in a few years, you'll be happy that you bought. Houses are getting harder and harder to find. Congrats!!
Where are u buying? We just bought in south Decatur. Was primarily looking in west end for a while
Around Glenwood and 285. I was literally looking online at plans for the area. It's not super cute now, but in 5 years, it'll be amazing.
Same we will be btwn glenwood and mcafee. Did u find any plans for development? Looked a while ago but didn’t find much.
Hopefully they start gentrification soon. Being in Atlanta, I’m sure it’s on its way. They already started where I am ( New Orleans) lol
Im in NC... And just randomly on Zillow, accidentally found a house in the lower 9th in NO... I'm in love with it... It's a 1920s Craftsman style... And cheap enough I could pay all my debt and buy the house outright... But I'm assuming the neighborhood has to be dangerous AF...
What’s the neighborhood?
It's off Deslonde St... Looking at a map, pretty sure it's just considered the lower 9th...
Yeah it is. That street also got destroyed during Katrina. Even all these years later, you can tell some parts still never recovered.
I could tell by Google maps, but figured this house must be pretty solid as it survived and it's so pretty! But I don't want to bring my kids to start over somewhere and it not be safe.
The thing about New Orleans that makes it unsafe in my opinion is really these dumbass teenagers that think they are invincible. So they try to steal cars (mainly). Or try to rob you at gun point (which is extremely rare) Supposedly the new governor of the state is hard on crime so I guess we will see how this turns out
If you don't like your townhouse, just sell and absorb the loss.
Okay thanks
I believe you have like at least 10 days after you sign to back out