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Posted: 3/9/2006 5:25:14 PM EDT
[Last Edit: 3/9/2006 5:26:49 PM EDT by Zaphod]
Found a house. Like it a lot.

Pros:

- Priced $50K below surrounding houses
- Ready to be moved into. Only need fridge, washer, and dryer.
- Perfect size. Great layout. Beautiful neighborhood. Big yard. Lots of trees.
- At least one ARFCOMer 15 minutes away.
- 3.5 miles from the office.

Cons:

- Needs paint. Everywhere.
- Bad wallpaper.
- Needs new cabinets in kitchen and bathrooms.
- Needs new tile in bathrooms. Shower and guest tub cheap plastic units to be replaced.
- Wood floors need refinishing. Carpet needs replacement.
- Been on market for almost three years. Reasons unknown, but not for long.
- Needs lots of TLC to get up to speed, but appears structurally and functionally sound.

Needless to say, there will be an inspection performed.

Based on the above, what say ye?
Link Posted: 3/9/2006 5:26:58 PM EDT
Fixer uppers are a good deal most of the time.

The financing is the deal breaker. As long as it fits your budget with good margins and you can do most of the work yourself, go for it.
Link Posted: 3/9/2006 5:27:08 PM EDT
How long will you live there?
Link Posted: 3/9/2006 5:27:16 PM EDT
Link Posted: 3/9/2006 5:27:50 PM EDT

Originally Posted By Zaphod:
Found a house. Like it a lot.

Pros:

- Priced $50K below surrounding houses
- Ready to be moved into. Only need fridge, washer, and dryer.
- Perfect size. Great layout. Beautiful neighborhood. Big yard. Lots of trees.
- At least one ARFCOMer 15 minutes away.
- 3.5 miles from the office.

Cons:

- Needs paint. Everywhere.
- Bad wallpaper.
- Needs new cabinets in kitchen and bathrooms.
- Wood floors need refinishing. Carpet needs replacement.
- Been on market for almost three years. Reasons unknown, but not for long.
- Needs lots of TLC to get up to speed, but appears structurally and functionally sound.

Needless to say, there will be an inspection performed.

Based on the above, what say ye?



Have a house inspection done.

If you fix / replace everything noted, will it value the houses surrounding?

Are you coming to Uwharrie?
Link Posted: 3/9/2006 5:28:43 PM EDT
My plan is to be there not less than three years, and as many as ten.

It's definitely a moderate DIY's dream.

Financing is no problem. Hell, I may even be able to get the financing to cover the project!
Link Posted: 3/9/2006 5:30:07 PM EDT

Originally Posted By MadMardigan:
If you fix / replace everything noted, will it value the houses surrounding?



Short of something unexpected, it very much should.



Are you coming to Uwharrie?


Uh........ What's that?
Link Posted: 3/9/2006 5:31:25 PM EDT
[Last Edit: 3/9/2006 5:31:57 PM EDT by MadMardigan]

Originally Posted By Zaphod:

Originally Posted By MadMardigan:
If you fix / replace everything noted, will it value the houses surrounding?



Short of something unexpected, it very much should.



Are you coming to Uwharrie?


Uh........ What's that?



Duh.

Link Posted: 3/9/2006 5:32:21 PM EDT
If it passes the home inspector (you going to go VA?), go for it. I, myself, live for DIY projects. Just finished remodeling the 2nd bathroom in our current home, going for paint and flooring in 3 rooms next.
Link Posted: 3/9/2006 5:34:01 PM EDT
[Last Edit: 3/9/2006 5:34:52 PM EDT by Zaphod]
Nope. I'll most likely be having my stuff packed up in Laredo.



Dunno if I'll do VA or 80/20. Whichever is cheaper each month.
Link Posted: 3/9/2006 5:35:35 PM EDT
[Last Edit: 3/9/2006 5:36:18 PM EDT by DriftPunch]

Originally Posted By Zaphod:
Found a house. Like it a lot.

Pros:

- Priced $50K below surrounding houses find out why, perhaps it's due to the cons listed below, perhaps it's sill and band rot + termites
- Perfect size. Great layout. Beautiful neighborhood. Big yard. Lots of trees. trees, while nice, should not be very close to your house due severe moiture problems, look for it

Cons:
- Needs lots of TLC to get up to speed, but appears structurally and functionally sound.much can be hidden, don't get too excited until you see the inspection report.



ABOVE ALL, DON'T GET EMOTIONALLY TIED TO THIS HOUSE, BE PREPARED TO WALK AWAY IF IT BEGINS TO TURN SOUR.
Link Posted: 3/9/2006 5:37:49 PM EDT


Hire her to do the "work".
Link Posted: 3/9/2006 5:38:28 PM EDT

Originally Posted By Zaphod:
Found a house. Like it a lot.
Cons:

- Needs paint. Everywhere.
- Bad wallpaper.
- Needs new cabinets in kitchen and bathrooms.
- Needs new tile in bathrooms. Shower and guest tub cheap plastic units to be replaced.
- Wood floors need refinishing. Carpet needs replacement.
- Been on market for almost three years. Reasons unknown, but not for long.
- Needs lots of TLC to get up to speed, but appears structurally and functionally sound.

Needless to say, there will be an inspection performed.

Based on the above, what say ye?



Shit dude, that is why it is $50k below the other homes... You know how much good quality cabinets cost ?

If you like it and don't mind fixing the place up, I say run with it... Pending a home inspecting.
Link Posted: 3/9/2006 5:41:52 PM EDT

Originally Posted By DriftPunch:
ABOVE ALL, DON'T GET EMOTIONALLY TIED TO THIS HOUSE, BE PREPARED TO WALK AWAY IF IT BEGINS TO TURN SOUR.



Oh, I hear ya. If it goes bad, either the price goes way down or I walk.
Link Posted: 3/9/2006 5:42:20 PM EDT
The inspection will tell the story hopefully. 3 years is a long time on the market.
Link Posted: 3/9/2006 5:42:22 PM EDT

Originally Posted By KA3B:
www.paigedavis.com/graphics/Paige_Left_About.jpg

Hire her to do the "work".



I wish!
Link Posted: 3/9/2006 5:43:42 PM EDT
Zaphod, how much can you do yourself? That much required renovation hired out won't be cheap.

PS: Got that M1A yet?
Link Posted: 3/9/2006 5:44:28 PM EDT
Go for it, Zaphod. My best wishes.
Link Posted: 3/9/2006 5:49:01 PM EDT
[Last Edit: 3/9/2006 5:53:45 PM EDT by Zaphod]

Originally Posted By SP10:
Zaphod, how much can you do yourself? That much required renovation hired out won't be cheap.



With help from my BIL, I can do 90%+




PS: Got that M1A yet?




ETA: I'm thinking of building one. Local buddy says he can help, and he knows his stuff...
Link Posted: 3/9/2006 5:53:13 PM EDT
Well hopefully no multiple homicides took place in it and it's unsold because it's haunted.

Buy it.

If you pace yourself and look around, you can probably find plenty of bargains for everything you need. Wait for sales at home centers, check closeout stores, barter for work, etc.

Link Posted: 3/9/2006 6:34:52 PM EDT
Oh.....

Did I mention I have to furnish this friggin' place?
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