Last night on HGTV “House Hunters,” Alexis wanted to buy her first home in downtown Memphis. Originally from Kansas, Alexis decided she liked Memphis and wanted to stay. Can HGTV help her find a fantastic first home within her strict budget?
Moving to Memphis on HGTV “House Hunters”
Alexis Johnson is a 27-year-old physician's assistant from Kansas. She relocated to downtown Memphis about a year ago and decided she wanted to stay. She enjoys meeting her friends to dine, go shopping and hit the clubs in the downtown area. Alexis is renting 1 bedroom apartment right near a trolley transport line, which is a major convenience. After doing the math, she realized it would cost as much to buy a home as it does to rent one. Alexis is on a strict budget because she likes the finer things in life including wine, fashionable clothes and plenty of shoes.
Alexis decided she could spend up to $250K on her first home but prefers to keep the price closer to $200K. She is searching for a condo or small starter house. Her wish list is long and includes a walk-in closet, open concept and granite counters with stainless steel appliances in the kitchen. She works nights and would prefer a safe place to park near her home and a master bedroom where she could sleep during the day. Can she find everything she wants and still stay within her budget?
Looking at Homes in Memphis on HGTV “House Hunters”
Alexis starts looking at home with her realtor, Nancy, and two of her best friends. The first home was located in a downtown historic building that was once a candy factory. The apartment has 2 bedrooms and 2 baths in a secure building with 2 parking spots. It is listed at $210K and offers a beautiful downtown view. There is exposed brick, exposed duct work and an open concept. The kitchen has granite counters and stainless steel appliances but Alexis is not fond of the medium-toned cabinets. The kitchen is also raised to give her a “queen of the village” feeling. The open concept might be too much in this home with no door on the master bathroom and a loft type bedroom with no door or walls. However, the master bedroom does have a nice walk-in closet. Alexis is also not thrilled about the HOA fees for $293 per month.
The second home is also downtown in a former paper factory that is 102 years old. The 2 bedroom, 2 bath home is listed at $210 with HOA monthly fees of $300. This home also has the traditional exposed brick and duct work. The kitchen has lovely dark cabinets, stainless steel appliances and granite counters. There is no door on the smaller bedroom which also has no window. The master bedroom has a door and plenty of windows but the closet is rather small for all of Alexis' fabulous fashions. The bathroom is huge with a modern glass bowl sink. However, Alexis is displeased there are no designated parking spots. There is a locked parking lot that operates on a first come, first served basis that might not fit into her evening working hours.
Finally Alexis heads to the suburbs to see a colonial cottage located just 10 minutes from downtown Memphis. The single family home is 1750 square feet with 3 bedrooms, 2 baths and a 2-car garage. The backyard includes a pretty view of a greenery, a white picket fence and the river. The yearly homeowners fee is $900 which includes lawn moving. The house has a large entry and a fireplace along with a laundry room and security system. The kitchen has Alexis' stainless steel appliances and granite counters. There is a bonus room over the garage to offer her even more space. However, Alexis does not like the master bedroom right by the front door and the bathtub in very small. Can the huge walk-in closet make up for those less than favorable features?
Making a Decision in Memphis on HGTV “House Hunters”
The moment of reckoning arrives and Alexis has to make a final decision. She doesn't like the second bedroom in the first house but the parking and location are great. The second home has a fantastic open floor plan and kitchen but the closet is small and the parking situation makes her feel unsafe. The cottage is the winner with more space, a private attached garage and an attractive outdoor area. Alexis manages to get the owner to pay the closing costs so she has more money for pain and making a few updates to the home. Alexis can just hop in her car and be downtown in only 10 minutes. She feels blessed and excited to have the opportunity to own her own home in Memphis.
HGTV “House Hunters” airs weekdays at 10:00 p.m. ET
Image Source: Wikimedia Commons Thomas R. Machnitzki