Good deal or a Big Money Pit?

[JD59]

Originally Posted by StuffedCabbage

If you are single and 1960 is your birth year I'd skip it. You'll need to get rid of those mobiles, and that house is ugly and looks like it needs a lot of work. You can do only so much yourself, and contractors these days want a ton of money. Suspended ceilings and panel walls = a shell; subtract at least 40K. Frankly, I'm through with anything in the way shape or form of fixer uppers - they are money losers. Property looks nice though.

It's TN so there are probably oodles of similar properties around to consider, and from the sounds of it, places way more friendly to 50 yr old single guys - something you have to pay attention to in rural areas, especially in the south.

I'm going to pass on this property because way to much work I have found. This owner will take a long time to sell. Yes I'm single and 53 years old.

[cocaseco]

Originally Posted by luckodeirish

So if no heating or cooling does that mean all duct work will have to be done? I would assume that would be pretty costly.
Also looks like that stove is electric not gas, which will drive you nuts and you may want to replace with gas.
How is the condition of the wood?

No need for ducts, thats old school. Ductless heat pumps would be perfect here and with all the rebates, theya re almost free in many locations. Plus the monthly savings as they are dirt cheap to run.


Personally I'd buy it simply because it looks fun and there look to be lots of possibilities. That said, there are a lot of questions I would need answered. I believe you could get a loan if the heat is the only issue, just dont even include the mobile home as part of the case. Ignore the naysayers and go with what feels right to you (even though you have decided not to move forward). Everyone has different goals and acceptable risk levels and its impossible to predict whats right for you.

[ByeByeLW]

I've always wanted a cool old house in the middle of nowhere so I can understand the romantic appeal.

I know nothing about this area. It seems overpriced though when you look at 2000 purchase price.

I will say I kinda regret buying a mid-century house that needed no work. The character was taken away.The inside might as well be from a newer condo. But it was what I could afford at the time.

Realistically if it's hard to sell now, it may be evn tougher to sell when it's time to give it up for the old folk's home.

I still dream of a mere 5 acres with chickens but often wonder if I'm being silly.