So it looks like we've bought an apartment:
http://bostad.skandiamaklarna.se/till-salu/CMBoLgh/4CIQP9QRA8C6D8QLThis whole business has been a significant departure from our original plans in many ways, thanks to our lack of experience and due to our broker whose reputation I will dedicate much of my energy towards undermining over the next decade.
Instead of making a profit of at least $12K we're now looking at a mortgage of ca $35K. Instead of paying $400/mo we'll be paying $700/mo plus interest (which we admittedly should be able to negotiate down to ca 1.7-1.8%). Compared to our second best option, there are some small disadvantages: Instead of having just over 10 mins' easy walk to work, I'm looking at just over 15 trickier mins (minor difference, but it adds up and also has some practical consequences). No grocery-store within comfortable walking distance. Better-designed apartment, but smaller balcony and less nice bathroom. Instead of having an excellent sports' center 1 min away, we have á meh one 20 mins away.
However, the TCO is likely to be lower than it would have been for our second-best option, it's a slightly better location for my wife, we'll have an extra room that we don't "need" but that I think we'll be able to put to good use, and, honestly, I
really like the apartment.
We got it for just over the asking price, which was also what we believed it to be worth today "objectively" (and significantly lower than what we'd have been ready to pay for it). I raised by a tiny amount and fortune favoured us for once because the other prospective buyers couldn't get back to them in time. However, I was given a valuable lesson in what it can mean to have a broker who's looking out for you as a seller. Instead of getting to move in on April 20th, which is the date they used to get us to the negotiating table, we'll be moving in near the end of May/beginning of June even though we have to move out of our current apartment by the 30th of this month. We'll get a place to stay until June, but even that works out to their advantage, because it's their place and they get to save quite a bit of money by not having to pay for it during our stay. This is a lot better than what our situation was upon selling our apartment the broker did a very good job of protecting her client's interests.
I may sound a bitter (and I am, about some things), but I'm very happy with the apartment, all things considered
We're v. excited and we already have wonderful plans
We hope we won't need to hire a broker again for the next decade or so, but, if/when that time comes, we'll try to do better. Get a much better idea of who they are and what their agencies are like. Let them compete against each other and also use them to get a better idea of what I can/should expect. Remember my rights and my advantages. Not let myself get lured into a difficult and unfavorable position. Stick with a plan if it's good. And be ready and willing walk away from any "deal" that sucks.
Anyway, it's been an exciting end to a very nice albeit stressful workweek. I can't believe we're moving soon eep
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Topic: Blog Thread 4; Live Free or Blog Hard - 'cos we all like blogging (Read 640960 times)