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.
You think it's overpriced, the yard is too small, there's a big ditch out front, the driveway is barely navigable, it's too close to nature and you're worried about pests, right? Ok, what are the positives that drew you to this property? It has a kitchen and a porch. So do lots of other houses. What else about this one appeals to you?
I guess what apeals to me is the fact I might be able to get a great deal given all its negatives. At the same time though, I don't want to buy a loser property -- even if I could get it for 20 cents on the dollar.
emilybh, it sounds like you're looking for an excuse to go buy this house or you're looking for someone to tell you it's not a good deal. You know it in your gut. It's not a good deal. Walk away. Go find a house where you need an excuse not to buy it rather than excuse to buy it. If you're hesitating now and have serious issues bothering you, chances are it'll get even worse after you move in. I saw some houses built similar to what you described. They were nice, but the insulation was extremely poor and all of them had issues with water infiltration.
You are right. I know it isn't a good deal at its current asking price. I guess I'm asking what percentage of the selling price of a house is the lot worth; is the garage worth; are decks worth; safety/good neighborhoods worth; safe driveways worth; outdoor storage worth?
However if someone gave it to me for free, I'd take it. I like it enough for that. It has high ceilings; crown mouldings a wood burning fireplace, lots of natural light a huge kitchen (which can't always be "added" to another house due to poor room flow and poor interior design-- besides, major renovations in THIS market is not what I'm looking to do if I have to pay anything to speak of for the house.)
Hmm. True. Bummer. I wish I could buy the house and move it.
Hmm. maybe I should look into that and buy a nicer lot in a better area. I wonder how much it would cost to move the building? It is approx 1600 sq. ft. The building first floor/foundation is about 40' x 25'. The second floor probably adds another 600 square feet where there is a loft area a bathroom and two bedrooms....or maybe it is 35x30 with less space upstairs.
the old traditional standards.
3x your W-2 is the max price you can afford
25% down
pay it off dont pay on it.
never buy something you would not live in.
dont super size. think small
location is everything
You are right. I know it isn't a good deal at its current asking price. I guess I'm asking what percentage of the selling price of a house is the lot worth; is the garage worth; are decks worth; safety/good neighborhoods worth; safe driveways worth; outdoor storage worth?
It's hard to quantify that because everyone is different. I know when house hunting I got caught up on a couple of properties that were almost exactly what I wanted. I ended up waiting around a little longer and checking the market daily until a couple of nice options showed up. I was too slow to catch one of them, but I did get the second. What you should be looking for is something that provides a level of harmony. Having a tiny tight driveway, bee-infested swamp for a neighbor, and paying too much for it sounds like some problems that would be easy to dwell on over time. You don't want to be stressed out in your own home. However, I don't know what sort of competition is available where you live. Personally, I have to have a garage or space for a garage, and I spend a lot of time outdoors. The townhouse I ended up buying has got a small backyard and no deck included (yet), however it has everything else I wanted. That was the single excuse not to buy because all the other features and price were right on target.
I'm not sure if you're a first time buyer trying to pick this property up before the $8k credit deadline. If you are, I wouldn't use the credit as an excuse to jump. It's a relatively small amount of money when you consider the massive expense of home ownership. It's also likely to get extended in some form or come back to you in the form of price drops. Take your time. The market is a game of chicken right now in many places. Maybe not yours, but it is in mine.
You are all right. I'm not a first time buyer. I just want to get something nice and NOT over pay for it. It has been a year and a half since I sold my last place. I miss my state of the art kitchen in my old house. This rental where I am now is nice but its expensive and dated.
The public housing and the liability on the ditch issue are good reminders. They immediately reduced whatever yearning I had for the place by about 3/4s.
If you can't look at the property and like it from the start, the "discount" you get will be long forgotten as you continue to live in a home that will not make you happy.
It's the perfect house for someone, but it doesn't sound like the perfect, or even acceptable, house for you. Another one always comes along.
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.
