Dream House or Nightmare?

Personally I can understand their concern with the dropping of their home investment value, but it is taking place everywhere. We purchased our first home 7 years ago after struggling to mass the $10,000.00 down payment. It was just a simple home on a corner lot just outside the city limits and sits on 2 1/2 acres. We were elated to have a place that was our own and it cost just at $98,000.00,. As a single income family we did research well in advance of househunting. Determined the max we could qualify for on a home loan and shopped at and just under the amount. Being in the county also eliminated city taxes, and the area was showing substantial growth potential. This house burned to the ground just 11 days after we moved in. It was said to be electrical in origin, although it had just passed an inspection to buy it. . My husband was at work, so it was my responsibility to get our two sons a 5 1/2 yeard old autistic child and a 2 month old infant out.. With in fiteen minutes our hard earned dream home was falling down around us. We lost 16 years of our married lives memories, We were left with only what we got out wearing. Everything we owned as well as six beloved Chihuahuas and a 13 year old cat persihed in that blaze, even my car. Today it still rips at my soul when it comes to mind. It took us 8 months of red tape and construction, but we rebuilt the house bak on the original sight. We had it built back to the original specifications with two exceptions. We paid to have the attached carport turned into an enclosed garage, and the adjacent mud room going from it into the kitchen turned into a formal music room for me in my pets' memory, as they died there. We still have the same 2,625 square feet we began with only adding another $5,000.00 to the original cost of $98,000.00. You do not need to go overboard or way out on a financial limb to be comfortable. Seems like we attempt to make a status statement with our homes , when all we really need is to learn to be comfortable with what we can reasonabbly afford. Ours was just an old farmhouse when we bought it and still is for the most part. It still has a entry par;lor off the garage, with a stairway leading to the 3 upstairs bedrooms and bath, and 2 bedrooms to the right downstairs and the kitchen, music room and dinning room to the left. Straight through the parlor is a bathroom, livingroom with a fireplace and a bedroom to the right. A nice size front porch to sit and rock on and watch the highway traffic go by. Even a deck off the dinning room to cook out on. Tow years ago it was re evaluated and and was valued at $156,900.00.. All we had done was add fencing to the yard and kept up with the inside repairs and decorating. In the long run you can buy intending to spend your life there regardless of the housing market up and downs and purchase accodrdingly or take your chances. You may or may not get stuck holding a piece of property worth the same or eve

Been in "custom design-build for 36 years. Everbody wants to be a "builder"!! Another good lesson for our young, too much money, educated, intelligent businessmen. Your're always your best businessman when your broke or lose. Good lesson. Never build the most expensive spec in an area!! Build the "first one to sell"!!!!

Greedy! is the name of this right here! ....Yes it is nice to have a nice home and all. But then you can go a bit over the line as Roger has here. Now you have your dream home, good for you. Be happy you have what you have. Suck it up, and make the best of it. Don't cry like a little baby... Now think about what you can do here with this nice home. . You are a lucky guy. Get your *** in one place and be a Man not a baby....You are lucky guy!

Here's some basic rules we should all know. Don't price yourself out of your neighborhood. Don't add extra's that won't appeal to most homebuyers and expect to get your "investment" back. Market timing is everything. I could go on but from what I have heard, Rodger broke some very basic rules of investing in real estate, and wise investing in general, and maybe some bad luck to boot (market timing). Like we didn't see the real estate bust coming,.. didn't we learn anything from the stock market. Regardless, real estate will recover, just like the market, and we'll all be the wiser. Thankfully, I live in a very stable area, moderately priced houses, didn't go up with the "boom" and prices have not had to "correct". If you plan to stay, why worry,.. you'll take a little longer to get your money back, just sit back and enjoy your dream home, and quit whining, there's way too much to be thankful for.

I think the house is pretty boring. Dosen't really looks custom at all. If Roger would have hired a professional Architect he could have got a real "custom" home that almost certainly would have retained more of it's value. Just my opinion.

I am sooooo sick of hearing about amateur house builders crybaby about how they are not making any money. Its almost as of they are expecting to get rich. There should be a law against amateurs building houses. Its dangerous...not only financially, but I would not want to live in a house built by a sales lady!

Listen here, Roger. Be glad you didn't purchase a home, in a gated community, on a beautiful lake, with custom upgrades, for 30% below market value (brand new construction) - as an investment - only to have the builder sell half of the neighborhood to another builder who came in and built homes for half the value. Thanks to a job layoff earlier this year, we are now forced to sell our home. We have to list it at $100,000 less than its true worth due to the market comps (from the sales of the other builder's homes). Life deals some pretty crappy cards sometimes. Stop whining and move on.

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Way back in the 50"s houses were purchased for family size, schools, churches, and neighbors. It took most of us years to save up for a house, and to have the income to make payments. Many of us required 1st. and 2nd. mortgages on a house that cost a mere $17,000. We appreciated our homes when we finally achieved ownership, and we and our friends struggled to maintain payments. But, the kids lived in a great neighborhood, went to the best schools, .and each had his/her own room. Life was about family then, and somehow all has been lost. in this generation. You are the perfect example!

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What is this guy whining about. He has a great "custom" house that he and his wife designed. he is able to afford the payments. They may have to live in their home a little longer than they had planned to ( sounds like a great neighborhood to me).He needs to remember that all "investments" are risky. The market will eventually recover and he will be all right. If he had the $750K he'd probably invest it in securities and when the stock market correction comes (and it will) he would probably whine about loosing 30-40% as some investers did in the 90's.

This is only a story about an investment that will not pan out on his time schedule
What about the rest of us who have actually had houses pushed beyond affordability.
Or turned upside down to the point we have to walk away.
And I mean people with good Jobs bring home Good money.

This is only a story about an investment that will not pan out on his time schedule
What about the rest of us who have actually had houses pushed beyond affordability.
Or turned upside down to the point we have to walk away.
And I mean people with good Jobs bring home Good money.

This is what happens to those when you get greedy. You should be thankful for what you have before asking for more. You truly took advantage of your wife's inheritance money and for what -- your greed. Did you ever really consider what she really wanted? You put yourself in this position, be a man and face the mistake you made -- hopefully you learned a lesson that greed isn't everything.

Roger, I am sure your wife will not appreciate the fact that you called her "well to do" and boasted to the world that you "married well". Sounds like she must be one of your little investments too. I hope she made you sign a prenup. She should take some of her money and hire a financial advisor to help her ward off scam artists like you who prey on little rich girls. She should certainly think twice now about allowing you to invest her money. You're an idiot!

I don't feel a bit sorry for people that overspend. It's all about trying to outdo the next guy instead of just being satisfied with enough. Maybe these people could and can afford their house, but if they thought they might sell, they should have considered future buyers. Just like the people that buy expensive cars and max out their credit cards just to have what they think is "the best". Not only are they fooling themselves, they're not doing their kids any favors by not teaching the value of a dollar.