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House next door for sale... what should I do?

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Re: House next door for sale... what should I do?

Postby angolito on Fri Sep 23, 2011 12:35 pm

if i can find a photo elf i will post pictures.

the really sad thing is i firmly believe that my 57 year old husband with manufacturing background will probably never get another good job. he has a hand issue from a botched surgery a year ago which further takes him out of the job market.

the house has good floors, original woodwork, and a cute design. probably no more than 1100 sq ft. i am pretty certain that i wouldn't want to have anyone who would actually be willing to live in it next door :shock:

we share a retaining wall which is also a BIG issue.

I think we have to buy it. you all have given me very good advice. jade reminded me of the regret i felt on selling the dollhouse, so that cinches it for us.

what would i do without you guys?
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Re: House next door for sale... what should I do?

Postby Danno on Fri Sep 23, 2011 12:50 pm

angolito wrote:what would i do without you guys?

probably only around 70%
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Re: House next door for sale... what should I do?

Postby angolito on Fri Sep 23, 2011 9:09 pm

A-HAHAHAHAHAHAHAHAHAHAHAHAHA you crack me up, danno. :D :D :D you are SO right. :D
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Re: House next door for sale... what should I do?

Postby James on Sun Sep 25, 2011 8:27 am

I'm with Kristen, $5000? Sounds SO low.
Tho prices are down. One just across from our new YMCA is for sell and the sign outside says 39,900 and its sitting vacant. Not a great neighborhood but could walk to the Y and the Mall both pretty easily. Shocking where the market is right now. And likely to stay for awhile.
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Re: House next door for sale... what should I do?

Postby melissakd on Tue Sep 27, 2011 5:37 pm

Could you get all three of his lots for this $5000? Or would just this one lot make enough of a difference if the lots beyond DID get turned into an auto body shop (or whatever)? I'm sure the one lot would make the diff if the house was still there; then yours wouldn't be *the* house next door to the fingernail-clipper assembly plant (or whatever).

If you can spare the Dodge Dart (and really, what Dodge Dart owner couldn't? :lol: ), hey, give it a shot.

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Re: House next door for sale... what should I do?

Postby KirstenN on Sun Oct 02, 2011 10:56 pm

angolito wrote:Its gonna mean selling the dodge dart


I would love to help you out by buying the Dart, but my handsome Scotsman already has his hands full with my two old VWs!

$5K for a house and three lots sounds incredible. I thought we did well to get our house and 1/2 acre for $45K Cdn! But, I know that living costs and incomes tend to go up and down together, and the cost of maintaining it has to be considered too.

If I can try to say something encouraging about the size... there is a quite a "small house" movement going on, that I tend to consider myself part of. We bought a 1000-sq-ft 1913 farmhouse and are currently living quite comfortably in less than half of it, having closed the doors to the other half to save on heating for the winter. I'm sure you're right that you wouldn't want anyone in it who would want to be there right now, but could you have temporary tenants to fund the cost of a new roof and foundation work in a year or two? Some of my favourite old updated tiny houses are these 275 square foot railway quarters that got restored 100 years later (http://haberae.com/sodo_4). They're not preservationists by any means - I cringe at the plaster they chipped away to show the brick underneath - but the results are stylish and not low-rent at all, even though they're tiny. I'd like to think that the folks here who know old houses so well could do a great job at something like this, making the smaller size of some older homes into an asset for those who are interested in it.
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Re: House next door for sale... what should I do?

Postby mrstan on Thu Nov 17, 2011 12:56 am

I am curious as to what, if anything was decided - did you buy the house and lots next door??? I'm on the edge of my seat!
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Re: House next door for sale... what should I do?

Postby angolito on Thu Nov 17, 2011 1:32 pm

so far no one has bought it. i doubt that now it will happen during the winter everything grinds to a halt. now that i have said it someone will buy it for sure. :?

my BIL is coming for a visit. i am going to see if he will buy it :D if not i hope the owner will get sick of dealing with it during the winter and take me up on the offer to lease with an option. every month he has to make the payment, and taxes ( which are so low it is insane) is another loss to him.

at least i am going to ask him if i can park our car in his little space so i don't have to move it on snow plow days. 8)
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Re: House next door for sale... what should I do?

Postby mrstan on Thu Nov 17, 2011 2:06 pm

The lease option may be a good idea - BUT - what about a land contract :idea: ? Basically then YOU own it - HE is the mortgage company until a predetermined time in the future when the note is due in full - at which time (prior to that actually), you would need to Refinance it - but If you made improvements little by little - the equity may be there, and you have increased your net worth AND saved a property to boot! :mrgreen:
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Re: House next door for sale... what should I do?

Postby Texas_Ranger on Thu Nov 17, 2011 5:03 pm

You could also rig up a rent-to-own contract.
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