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What's your definition of move in ready? It actually looks move in ready to me, just really outdated. Is there any major work to be done? roof? foundation? heating? plumbing? Those are things you'd have to take care of right away and are a big expense.
The view is stunning. The house looks good too... just outdated. If it were me I'd try to make it work. You can always change the appliances and paint and get rid of carpet fairly inexpensively.
But if your gut is saying no, then I'd listen to that.
Good luck and let us know what you decide.
Owning a home is a never ending project no matter what the age.
I don't think you should do it because you focused on the cosmetics of the house and didn't mention about the main expenses which would be things like the air conditioning, roof.
The AC could cost you the same as gutting a bathroom.
I don't think you should do it because you focused on the cosmetics of the house and didn't mention about the main expenses which would be things like the air conditioning, roof.
But that's the thing. The OP is focused solely on simple cosmetic things, which are the least important things to consider when buying a home. Right now there's no reason to believe any of the major systems are in need of updating. Certainly that roof doesn't look 40 years old.
If the major systems (plumbing, electrical, HVAC, and roof+windows) are fine, then the house is fine (assuming the OP can dicker the price down to something closer to her budget). No house NEEDS a "total reno" just because the appliances are old and the toilet is pink. Those features can be changed later, at leisure.
The OP has to decide just how high the budget can be safely stretched, and what matters most to her: perfect location, or perfect appearance.
.......the perfect house! The location is a gem. It is on a private driveway up a hill and the 3 acre property overlooks farm land. 12 minutes to his job, right near town, near the highway, A+ school district. Our max budget was 325 MOVE IN READY...this house is 350. ........
To me location is nearly everything. If the house doesn't need expensive structural repairs, I would offer the $325,000 that is the top of my budget, with a note that I love the house, but $325,000 is our max.. Mention that the house is for your own family, that you are not a flipper. Then cross your fingers.
Whatever updating is needed, you can just live with it. Nobody needs granite counter tops. You can cook just fine on Formica, even if you don't like the color. So what if the cabinets aren't your favorite style. They will hold your plates and canned goods just fine.
Get settled in and gradually change the house to your own tastes.
The house in your post is a typical subdivision-style house on a small lot, whereas the house the OP desires is a character house (most likely custom), on acreage with beautiful views and trees galore.
OP, you need to talk to an agent. They may be able to negotiate the price down a bit to fit within your budget, but maybe not. If similar properties are selling for around that amount, don't be surprised if the seller doesn't budge much. and you have to make an apples to apples comparison - the house you fell in love with, while not HGTV's definition of "move in ready", has character in spades. At this point in my homebuying life, I really do value the character of a house vs. cosmetic bells and whistles (though I do admit it's hard sometimes...) Our current house is such a house. It had been somewhat updated but still had plenty of unflattering relics from the 80s and early 90s. The baths have 6x6 generic white tiles (common in the 80s) and shiny gold brass everywhere. The sellers were asking at the higher end of our range, too. Our agent managed to get $5000 off, but that was it. At the end of the day, we both knew that was the house that we wanted and a newer, shinier house could never come close. So here we are. It's project after project, but everyone who sees our house appreciates why we fell in love with it. You have to figure out what is the most important to you.
I woke up thinking about this thread - I know, get a life LOL. And someone beat me to what I was thinking - to possibly add some reno money into the mortgage. And that an additional $25,000 amortized over 30 years, is hardly anything as far as changing the payment goes. Unless, of course, your lender says absolutely no way.
My husband and I found the perfect house! The location is a gem. It is on a private driveway up a hill and the 3 acre property overlooks farm land. 12 minutes to his job, right near town, near the highway, A+ school district. Our max budget was 325 MOVE IN READY...this house is 350.
The house was built in the 70's...and the entire house has not been updated since the 70's! The appliances are from the 70's, the layout, the doors...everything!
If we could get the property for 325...it would take at least 5-10 years to be able to afford all the renovations and updates needed...even if we take it one project at a time...I feel like it would be a never ending project...
Is it worth it? What do you do in a situation like this? My gut is telling me no...but the property has exceeded our expectations! Thanks so much in advance for your wisdom and guidance!
You should make an offer to find out if $325k is even possible. Heck, make an offer lower than $325k and see what happens. The last thing you want to see is this house selling for under your target price (!) two months after you passed on it.
Also, it wouldn't hurt to include a personal letter (maybe even with photos of your happy family, kids and pets are always best) with your offer. Say something like how much you like the house, you will treasure this house, and will make great neighbors to the seller's friends around the neighborhood. However, you are on a budget and hope to work something out with the seller. When you're making an offer that you think is low, it's a good idea to let the seller know that you're not some low-balling cheapscape; but you're a genuine buyer who truly love the house.
That front porch gable looks way to large for the overall mass of the house, not sure if that was built with to house or added afterward. The roof is almost tall enough to have a bonus room there, but doubt there is one.
My husband and I found the perfect house! The location is a gem. It is on a private driveway up a hill and the 3 acre property overlooks farm land. 12 minutes to his job, right near town, near the highway, A+ school district. Our max budget was 325 MOVE IN READY...this house is 350.
Then it's not the perfect house for you.
HOWEVER ...
Quote:
The house was built in the 70's...and the entire house has not been updated since the 70's! The appliances are from the 70's, the layout, the doors...everything!
I don't see anything in your photos of the house that I couldn't live with for five or 10 years beyond cosmetic changes like paint or maybe new carpeting.
That house looks like it's been very well taken care of. The kitchen and the bath look pristine, from the photos. As long as everything functions, and you can possibly talk the seller into taking your maximum budget of $325,000, then you can live with what's there while you save money to renovate. And who knows, by then you might fall in love with the house as is.
Last edited by Ohiogirl81; 09-21-2016 at 04:57 PM..
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