Storybook Cottage

Last year we decided we finally had enough money for a down payment. We were pre-qualified for an exorbitant amount of money. We began house hunting in Marin and when we came across the house pictured we looked at each other and laughed at how ridiculously expensive it was.

This storybook cottage is charming inside and out. The insides were made to look like the insides of an old ship. However, when we got the reports we sighed. The house is on a 1/4 acre, which is fairly large for our area, but perpetually in shade (i.e. mold laden). The retaining walls were crumbling, The house originally built as a summer cabin on piers was filled in from the center out with concrete, probably in the 1940's. There was extensive borer beetle damage. Many of the windows needed to be replaced and the floor in the kitchen had a large 6 inch drop which had been patched with concrete. The beautiful terra cotta tiles simply dropped off all along the width of the kitchen and gray concrete had been sloppily plopped in by hand.

The asking price was $700k and it would have taken $100k to make it livable. We just looked at each other and said, "Why spend so much for such a dump." This was the moment we decided to invest in a more affordable market. Many people are laughing at the amount of equity they are sitting on, but it is so sad that this community cannot allow for school teachers, emergency personnel, and store owners to be home owners unless they happen to marry a wealthy person. Among members of the genealogy society most of their children live in other states because they cannot afford to live here and raise children. When you have a community of only wealthy, elderly, or renters the quality of life suffers when nobody can afford the time, effort, energy or money to help their neighbors, because they are so busy trying to keep their heads above water.

We are sad to leave, but we did not choose high paying careers, so something has to give. I guess it has to be us.