(Closed) Should we even take a look at the house?

posted 7 years ago in Home
Post # 3
Member
5670 posts
Bee Keeper
  • Wedding: August 2010

I would look, it’s can’t hurt.

Post # 4
Member
6248 posts
Bee Keeper
  • Wedding: August 1900

If you don’t try to get that house then I will!  (jk)  Very nice.  Are you and your husband house people?  Or are you happy to stay in a condo?  Do you think you’d be able to sell the condo in this economy? 

Post # 6
Member
46419 posts
Honey Beekeeper
  • Wedding: November 1999

It never hurts to look at something, but be realistic. 5000 sq feet is a lot of house.

Also note the use of the key word in the realtor’s description “great potential”- usually means lots of updating and/or repairs needed.

If you seriously want to buy it, make sure you get a home inspection- will likely need a new roof if it hasn’t been done already.

Post # 7
Member
4824 posts
Honey bee

Since you dont need to move, I would look at it and make an offer you are comfortable with. The worst they can say is no. I would not offer more than you are comfortable paying though.

Has it been on the market long? If so, or for other reasons, they may be motivated to sell at an even lower price.

Post # 8
Member
2216 posts
Buzzing bee
  • Wedding: August 2012

Before you look and fall in love, ask yourself if you can really afford it?  It would suck if you fell in love with it and found out the owners wouldn’t sell it for an amount that you’re comfortable with.

Keep in mind that moving into 5000sq ft.  house will mean paying higher property taxes than you’re used to in your condo.  It’ll also mean that you’re paying higher utilities and such.

You’re already a homeowner, so you’ve probably already thought all of this through.

Post # 9
Member
1986 posts
Buzzing bee
  • Wedding: June 2012

If there is no mortgage they have time to hold out on it, I really doubt they will go down to 280k. 

From what I can see it looks great- but yes I would expect a lot of repairs. 

Post # 11
Member
4887 posts
Honey bee
  • Wedding: May 2012

Nothing wrong with taking a look, but let me tell you from first-hand experience: renting and being a landlord is NOT all its cracked up to be.  We just got royally screwed by a tenant and we’re now paying two mortgages and working on taking her to small claims.  She owes us over $8000 (not including each month the house sits on the market).

This house is also extremely large and sounds like it needs updates.  I think it’s a great house and definitely up my alley but have to admit I think you should just look and not even think about buying, at least until you can sell your condo.

Post # 12
Member
6248 posts
Bee Keeper
  • Wedding: August 1900

@Luckygir15:  I hear ya about the privacy/freedom of a house.  🙂

Post # 13
Member
7431 posts
Busy Beekeeper
  • Wedding: October 2009

It looks awesome, but I don’t know…what if you fall in love with it, and they won’t come down that much?? I bet they have gotten a lot of low ball bids on it, which is why its still on the market 3 years later.

Post # 14
Member
1088 posts
Bumble bee
  • Wedding: August 2010

All I have to say is, can I live in your state? lol That’d be a million dollar house here lol.

Post # 15
Member
1088 posts
Bumble bee
  • Wedding: August 2010

And can’t hurt to look!

Post # 16
Member
14496 posts
Honey Beekeeper
  • Wedding: June 2011

Can hurt to look, but if its already near the top or over your budget, I’d be really careful about buying such a big house.  The winter heating costs is going to be freaking brutal.  The wood stoves may help out a lot, but dont underestimate the cost of oil.  My house is only about half that size, we block off half the top floor, have newish double pane windows and it was still  $500-600/month to keep the house to just 65 deg during the evening when we are home.  Same goes with cooling in summer, not as drastic, but still significant.

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