(Closed) Help us decide on this house, any opinions or ideas are welcome please!

posted 4 years ago in Home
  • poll: What do you think?
    Looks like a good fixer upper : (9 votes)
    36 %
    It depends on certain things... (explain?) : (5 votes)
    20 %
    Run fast and far from this house : (9 votes)
    36 %
    Other : (2 votes)
    8 %
  • Post # 3
    Member
    2687 posts
    Sugar bee

    I think the house has a lot of potential – good square footage and pretty much a blank slate, and it would be a great family home as you said.  I do not think a $150k total budget is realistic for all of that work unless you are willing to make sacrifices on some of the finishes.  The HVAC, electrical, plumbing, and exterior work alone could take up half or more of your renovation budget.  Personally, I would either increase your budget or look for a different home.  If you are serious about this home, have a contractor go through the house with you to provide a cost estimate and then decide if you want to pursue it further.  If your husband is a realtor, he may already have some contractor connections.

    Post # 5
    Member
    3683 posts
    Sugar bee
    • Wedding: December 2011

    I think the only way to know for sure is to get a contractor out there to give you an estimate.  Even the costs of materials will vary widely depending on the location of the house.  Also, the contractor would know everything you really need to get the house finished.  There’s no harm in getting a professional quote.

    Post # 7
    Member
    42 posts
    Newbee
    • Wedding: September 2014

    I think if you guys are prepared for dealing with contractors or delays and unseen expenses its a fantastic idea!  Since you are starting from the bare bones you can turn it into your dream house!  Every detail in it you get to decide!

     

    Post # 8
    Member
    1963 posts
    Buzzing bee
    • Wedding: January 2013

    Hmmm if I am reading this correctly you will not be trying to buy this home until October? I would strongly advise against getting attached to it at this point unless it has been sitting on the market for a very long time with no movement or there are a lot of similar houses available. From now to October is a really long time in the real estate world and the chances that this would still be available if it is priced right are pretty slim. I think the advice of PPs is good, get a contractor, have them look at it and see if it is reasonable, but don’t waste everyone’s time unless it is likely that this place will still be available in 5 months.

    Post # 10
    Member
    1963 posts
    Buzzing bee
    • Wedding: January 2013

    @kris325:  If it has been on the market for a over two years and the same price for a year, it is priced too high! On top of a contractor I would want a really good home inspection (obviously you need a home inspection) but special attention paid to things that will be really costly to repair and may be exposed due to everything ripped out. Having it sit for so long at (what I assume) is a reasonable price, makes me thing there is something really wrong with it, such as the structural integrity being compromised.

    The benefit to this house is that there is nothing hiding from you. Then if you are convinced it won’t break the bank, I would still offer them significantly lower because that’s what the market is suggesting the house is worth if it is still sitting there after a year. In a decent market a house that is priced reasonably should move. Like within a month. Also, I assume your hubby will the realtor? Get him to poke around to what other offers they have gotten since they lowered the price to see if there has just been no movement or if they are being unreasonable.

    Post # 11
    Member
    181 posts
    Blushing bee

    I think it looks like a better handyman’s special than some I’ve seen. Since it’s not an older house with inherited problems, it’s got a lot of potential and fewer unexpected horrors lurking under the walls. That said I’d say you should expect, even after having a contractor look it over and give you an estimate – to end up needing two to three times as much money as specified, it’s just the nature of building costs. If all goes according to ‘plan’ and you come in under budget, great, but if not you’ll be thanking your lucky stars you thought to have so much wiggle room. 

    Post # 13
    Member
    1613 posts
    Bumble bee
    • Wedding: June 2012

    I askeddon asked my husband slwho does this for a living, and he said it would be 200,000-300,000 based on the size.  It sounds like a good deal though if it is in a good neighborhood.    You may be able to make money on it!

    Post # 14
    Member
    1613 posts
    Bumble bee
    • Wedding: June 2012

    I agree with others that it is priced too high!  If you do go for it, definitely star with a low ball offer.  They may take it since it has been sitting so long.

    Post # 15
    Member
    889 posts
    Busy bee
    • Wedding: July 2009

    @kris325:  

     

    I suppose it depends on your definition of “livable.”  If you do some DIY and you get builder grade stuff then I think 70k or so is doable.  It also depends of where you live… I live in South Florida and houses here are super expensive and remodeling is expensive as well.  We have a 3/2 home with pool and lake and paid 255k.  We are remodeling the whole thing and it will be about 100k on top of that.  But the house at least has walls. Yours needs walls, insulation, etc… It is also very time consuming to do things youself, so you might have to hire people, which means $$$$

    The topic ‘Help us decide on this house, any opinions or ideas are welcome please!’ is closed to new replies.

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