Why I Avoid Open Houses Like the Plague

Avoid Open Houses - picture of house with open house sign

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As I’ve told you before, I love houses. And really, I’ve been addicted to real estate for a long time.

Give me your primary residences, your rentals, and your condos yearning for a remodel. I don’t care if they’re 2-story, 3-story, or a ranch. I’ll take them all and turn them into my own projects of love.

Of course, playing the real estate game is expensive. And since we’re not in the market for a new house, I’ve tried to satisfy my cravings by checking out open houses near my home. Stick a sign in the yard, burn some vanilla candles, and put an obnoxiously happy salesperson at the door and I can’t resist.

I used to comb through the listings each week to see what’s on the market. Of course, I would tell the hubs I was just checking out home values in our neighborhood – you know – so we know what our own house is worth.

But finally, I realized my addiction to open houses was slightly dangerous – so dangerous that I’ve chosen to quit going altogether. Here’s why…..

Reason #1: They Make Me Want a Bigger House

Seeing the size of these starter castles makes me want to move. A queen bee like me needs a new kitchen, another bathroom, and a fully finished basement, right? I’d also love to get some nice new wood trim – without the nicks and scratches that come with having kids and a dog, of course. It’s all so tempting!

While I love our home, I still consider it as sloppy seconds. We actually wanted to purchase another house in the same neighborhood. It was our dream home, but our offer wasn’t accepted due to a contingent sale. Now, we walk by that house almost every day, wishing we had it.

Buuuuut… that house would have cost us almost $80,000 more than our current abode. Plus, we don’t need a bigger house. After remodeling, we actually love the house we have. Besides, our current location within our neighborhood is perfect. I love our street and our back yard, along with our proximity to the neighborhood pool.

Reason #2: I Fall in Love Pricey Upgrades

Because I enjoy interior design, I love checking out the type of upgrades people choose in houses similar to mine. It’s fun and it’s satisfying, but it also gives me some destructive ideas.

Honestly, seeing other people’s pricey upgrades brings out my inner JoAnna Gaines. Suddenly, I’m looking to tear down walls, replace all my floors, and cover my entire family room in shiplap. But let’s face it – Greg is no Chip in the construction department. That means we have to hire out most of the work, which is expensive.

Trust me, I don’t need any more remodeling ideas. I don’t think my wallet – or my husband – would approve.

Reason #3: Our House is Nearly Paid Off

In December, we paid off our first rental house early… and it felt freakin’ great! That house is ours, free and clear from any obligation to a bank. We are legit home owners, and that extra rental income will help us in a gazillion different ways.

Without that mortgage on our plate, we’re using the rental income to pay down our other rental even faster. Hopefully, we’ll have our second income property paid off this summer. Then, we’ll focus on destroying the mortgage on our current home. Optimistically, we’ll have our primary residence paid off in 18 months. Worst case scenario, it will be paid off in 2-3 years.

Though I’d love to upgrade to a bigger and “better” house, the money conscious mama inside me knows keeping my current house is the best way to get ahead. Sure, we could “afford” to move up if we wanted to. And that’s what most people do; they put their house on credit, buy more than they can really afford, then wonder where all their money is going. By choosing to stay where we’re at, we’ll meet our dreams of early retirement and start slow traveling the world that much faster.

Final Thoughts

If there is one thing I’ve learned, it’s that there will always be something bigger and better out there. Somebody will always have more than I do – more money, more toys, more house. That’s what everybody is trying to sell, that bigger is better. It’s not.

When you don’t fall for the scheme, the only person that wins is you. Heck, I’m sure the bank would gladly loan us a million bucks or more. We can “afford” to buy a much bigger house if we wanted to… but can we really?

We choose not to. Had we made that decision in the past, we wouldn’t be able to travel like we do now. We definitely wouldn’t be able to save as much. Greg would probably still be at his job, slaving away to pay off a debt we didn’t really need in the first place. Instead, we’re able to live the life of our dreams right now and still save for the future. I believe we’ve made the right call.

Making good financial choices is what separates getting ahead from falling behind. Sure, I may have to cut back on the open houses, but I’m happy to do so if it means a better financial future for my family. What choices are you making to do the same?

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18 Comments

  1. Every year we go to a builder’s home show where our son lives. These builders are showcasing newly built, super luxury homes in the 1-2 million dollar range to show what they are capable of building. We have just recently built our dream home so I’m not tempted by going to see these houses. However, we did get some ideas we incorporated into the house we were already planning to build. For us, it is part of our vacation and entertainment. And since no one is living there, hoping one of the attendees will make an offer to purchase, we are not giving anyone false hope.

  2. We’re looking for a new home now and totally am subjecting myself to the same sort of temptations.

    “If we spend just $50,000 more, look at all the incredible upgrades we could get!”

    Sometimes, just knowing yourself, and putting yourself in the best situations to succeed, is half the battle.

  3. Both my husband and I adore real estate. Of all kinds. From the run down little bungalow to the massive 100 year old brick home. Thankfully, I love the house we live in, but getting into rental real estate and turning those ugly houses into a thing of beauty is a dream of mine. The thing we need to be very cognizant of is keeping the upgrades from getting out of hand.

  4. I love homes. And can totally relate to this! I was talking to the Mr. about our net worth holdings and how they are so tilted to property. But it really comes down to the fact I love homes more than stocks. Looking at them, designing them, renovating, the passive income, the function, just all of it. There is a tension between loving where we are and admiring other amazing homes. Fortunately, we do all our own reno work, so that helps quench the desire to upgrade our current home. I’m just finishing our master bath, and am so over the whole thing. =)

  5. Great post Holly! You are so right about all of your reasons here. It’s amazing what we can be happy with (we live in a modest home too). But you can definitely get some serious “house envy” from looking at new/bigger/fancier houses. I think having a clear focus on your end goals is so important. The more vague those goals are, the easier it is to be tempted by wants and not needs.

    1. I agree 100%. For us, knowing we want to own this house free and clear helps us stick to our goals.

  6. This is like me and car dealerships. I am so close to paying off my car, but every time I am near a dealership the hairs on the back of my neck raise. I am constantly having to wag my finger in disapproval to myself! It’s so difficult to keep a modest mindset when there are so many bigger and better things luring you in. I definitely feel your pain!

  7. With housing there’s always a next level to move up to….It never ends. My dream home is the one that I can own and won’t ever lose to a foreclosure! ^_^

    1. You’re right that it never ends. That’s why it’s smart to set boundaries from the state.

  8. We have been going to open houses to understand the market. Except it makes me want to buy a house!
    Don’t know what our next step will be. If we want to buy a house in the area, we will end up spending $250,000 for a 1500 square foot home. We live in the city and real estate is pricer than I thought it would be.

  9. The last time we even scrolled through the available homes, we gave up in disgust. Now that we have to, we’ve started going to open houses in the Bay Area – they are nothing but depressing. I’m looking for a fixer-upper in hopes that it’ll keep the price to something reasonable, and then we’ll just live with the crappy look until we have the cash to fix it up but that’s not looking too bright either.

  10. Avoiding temptation and things that make you feel inadequate is such a good practice.

  11. I’ve been considering checking out open houses in the area just to get an idea of what other houses look like, particularly on the inside. Now I’m second-guessing myself whether I should or not! I probably still will, though.

    Do realtors get annoyed if you go to an open house with no intent to buy?

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