Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
There's another small subdivision of small homes just south of downtown off S. Wilmington St. convenient to downtown...can't think of the name, but street names Newbold, Layden, Knowles and Layden. Might be worth checking out prices. I think they might line up with what you're looking for.
Hertford Village, and expect to pay 100K for a house in good shape.
However, a certain part of your HOA fee (the delta in insurance, some repairs) could be going to mortgage instead of HOA fees. Your current cost of borrowing is $5/$1,000. So, a $275 HOA could be (you need to do some math on insurance and repairs though) $55K more for a home.
I'm 60 and planning to retire to the Triangle. I am solo, but I want to have room for stayover guests and perhaps a housemate at some point. My current house in NJ is about 1900 square feet and I'm looking to downsize to about 1300-1500 square feet and having a heck of a time finding something in a good area that doesn't need a complete gut-and-remodel. I think my perspective is different from the tiny housers because I lived in a 1-bedroom apartment until I was 40 and wanted a house the way some women want babies.
Right now I am in a 4-bedroom cape and I live pretty much only on the first floor and the basement family room for workouts. But a tiny house doesn't appeal to me at all.
I'm 60 and planning to retire to the Triangle. I am solo, but I want to have room for stayover guests and perhaps a housemate at some point. My current house in NJ is about 1900 square feet and I'm looking to downsize to about 1300-1500 square feet and having a heck of a time finding something in a good area that doesn't need a complete gut-and-remodel. I think my perspective is different from the tiny housers because I lived in a 1-bedroom apartment until I was 40 and wanted a house the way some women want babies.
Right now I am in a 4-bedroom cape and I live pretty much only on the first floor and the basement family room for workouts. But a tiny house doesn't appeal to me at all.
Part of your frustration is just the current market -- lots of demand to move here, less wanting to flee. When the economy dips the situation is better for buyers, because then some folks with great homes they'd love to stay living in and keep end up selling because they have to take a job elsewhere or whatever.
Part of the reason you have a hard time finding 1300-1500 square feet that doesn't need upgrades is because often times someone in a home that size does not want to put a lot money into high-end upgrades because of the risk of over-improving, then being in a situation they have to sell at a price that is held at a ceiling due to square footage, and perhaps a lack of perception of the value of home improvements. If they put $50k or whatever into kitchen, floors, bathrooms etc. then need or just want to sell it, they feel they are unlikely to get that same amount back on top of whatever the going rate is per square foot based on recent comp sales. Ironically though, if you do find a smaller than average home that has been extensively updated, you'll probably find sticker shock in the current seller's market simply because the rare find, and folks who are looking to downsize or stay small for low maintenance reasons, but want a nice interior will pay a premium for it. I've seen 1300-1400sqft homes with upgraded interiors listed at the same prices as "average" (i.e. well maintained, partially upgraded) homes that were nearly twice the size. Seems contradictory almost doesn't it? On one hand you have folks who have not upgraded because they either don't have the cash or perceive it as an overimprovement risk, so they sell as-is. Then you have folks who did upgrade because they didn't intend to sell, they know they are on hot property so the current market let's them sell it as if it were a 2400sqft home with "typical" interior. Add to that, not many homes in that size are being built these days, because the land is expensive and builders want to maximize their profit by putting huge homes on tiny lots.
One thing folks in your situation do around here is consider a town home. The other possibility is to just find a home with an interior you can live with, but where the other aspects like neighborhood and lot are what you want, and upgrade to your liking one bit at a time while you're living in it. Not a turn key solution but doable.
I assume here when you say they need to be gutted, you mean they are perfectly functional just not to your taste. If you mean they are truly run-down then I guess I don't know the areas or price range you're looking.
Looks like I need to brush up on my Southern speak.
I hope people watch the video I linked because it has a really good message.
My wife and I could never downsize to 800 square feet but we think our next place is going to be a custom 1,500 sq ft ranch. It'll still probably cost us a pretty penny because we're considering using 2x6's for the walls and we want top-of-line windows. We may even do a steel roof if we decide to stay in the South.
Location: Sodo Sopa at The Villas above Kenny' s House.
2,492 posts, read 3,028,419 times
Reputation: 3911
I agree 800 sqft is pretty small. My last house was 768sqft with 2 adults and one child. Always bumping into each other. Our joke was we could fry eggs and do laundry from the same spot. We made it work till the price got jacked up so much it wasn't worth the hassle. We just got used to it and lived there for almost 4 years. What struck me the most was several months after moving I visited a friend in a similar size home from the neighborhood . My first thought was "was our house really this tiny"? I felt claustrophobic the few minutes I was there. Oh and this house was inhabited by 2 adults and 2 kids. I think if it was myself only, I could do it again but my daughter has no desire to move smaller then our 1300 sqft mansion.lol
I did this thirty years ago and consider it money well-spent. Go for it!
What do you think of a steel roof? Is it economical on a 1,500 sq ft home?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The incredible lightness of being small
