I Feel Like I am Cheating...

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I Feel Like I am Cheating...

Postby SouthernLady on Thu Nov 15, 2012 6:42 pm

I feel like I am cheating. On the house we have been fixing up... I looked at another house... :oops:

Ran into a hiccup on the 1900 farmhouse that I was planning on purchasing this coming summer (the foreclosure-my-friend-bought-because-I-couldn't-buy-it-as-the-bank-wouldn't-mortgage-it-so-he-asked-me-to-give-input-on-it-as-I-was-going-to-buy-it-from-him-soon-as-it-was-fixed-up 1900 farmhouse). I bought a beautiful English oak circa 1900 dining room set as well as a very unique oak dressing chest, circa 1890, and had some other stuff in line for purchase. Then BAM--his daughter realized she had been outspending herself for several years like everybody had been warning her about and it came back to bite her, so now she has nowehere to go but--you guessed it. Rent the almost completed house from my friend for 6 months to a year.

Soooo... I am trying to decide what to do. Stick with the original intent and see if it truly will be 6-12 months ( also has a pool, attached place for my aging grandmother when she can no longer live by herself in a few years, LOVE the area, etc.), or...

A circa 1890 just came available for $157,900. The interior is very similar to the one at http://www.ourvictorianhouse.com (just a lot more of the shelacked wood, nothing is painted), but it will need a good bit of cosmetic work to it as the '70s were very unkind to the house. This one isn't a foreclosure, has some of the original stained glass intact, original hand-carved oak entrance door, fireplaces, and drop-dead-gorgeous staircase. Very fancy pants. 1.5 acres, and a barn is still behind the house. The well is built under the back porch with a hinge door flooring to access it. Part of one of the chimney tops have fallen off. However, it is located in a county with high taxes, on a very busy road that is being taken from a two-lane to 4-6 lanes (about a mile down from the house, not in front of it), and it's 10-15 minutes away from my work, whereas the other is literally 2 minutes away... The realtor told me the house is in an estate and the heirs just want it off their hands.

{edited to spare you the drama, but insert the "Green Acres" theme song here and you get the picture!}

This is like pondering ending a long-term engagement for me and looking at a new relationship (hey, I love old houses and put a lot into them). I DON'T KNOW WHAT TO DO!!!!!! And my parent's aren't much of a help, etiher. They love anything old, and my dad's itching to do some woodwork wherever it may be... So, do I wait 12 months and see where things are at, while saving up for a cosmetic rehaul of the farmhouse and finding pieces that I know will fit in there, or do I plunge and seriously look into what would be involved in purchasing this fancy-pants house?

Advice?! :?
Last edited by SouthernLady on Fri Jan 24, 2014 11:10 pm, edited 1 time in total.
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Re: I Feel Like I am Cheating...

Postby pqtex on Fri Nov 16, 2012 12:41 am

I'd be pretty upset that the friend is reneging on the deal we had by letting his daughter move in--even if it is "supposed" to be temporary. You've put a lot of labor and and mental energy into this house. I'd have a discussion with the friend to encourage him to help his daughter find an alternative that doesn't include "your" house. That 6-12 months is likely to be indefinite. And the only one inconvenienced will be you. If the friend goes forward with his plans to rent to his daughter instead of selling it to you, I guess I'd be inclined to buy something else. Otherwise you will be hanging out to dry if she doesn't move when she is supposed to.

Jill
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My great-grandparents' 1913 farmhouse

Too bad the spam got so bad. Some of us have been spending time at the new community for folks with a love of old houses at wavyglass.org
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Re: I Feel Like I am Cheating...

Postby SkipW on Fri Nov 16, 2012 8:29 am

I agree with Jill and also would add that the 'renovated' house you agreed to purchase from your friend would now have been lived in for a year and would not be the "newly renovated" house you agreed to. It would have been lived in for a year. Not that that is a long time, but it would not be spanky clean and ready for you to move in. It would most likely need additional work that it would not need otherwise.

And then, what if his daughter says "Daddy, I LOVE this house, can I stay (or buy it from you, etc)?" The one you're thinking of cheating with now might not be around. And the family is willing to deal....

At least find out more info, it can't hurt and you might get a fantastic house at a fantatic price!
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Whether you think you can, or you think you can't, you are right. - - - Henry Ford
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Re: I Feel Like I am Cheating...

Postby eclecticcottage on Fri Nov 16, 2012 11:15 am

I'd look at the other house. Situations like you describe rarely turn out to be 6-12 months and all's well and good. He's your friend, yes, but she's his daughter-and her needs will trump yours I'd bet. Also, how is she going to live there while renovations are on going?
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Re: I Feel Like I am Cheating...

Postby SouthernLady on Fri Nov 16, 2012 5:05 pm

I must say that with the house that has been getting renovated, I have not put a dime in the house myself or done anything other than the equivalent of good cleaning. My money was going to go into the place as soon as the bank approved the purchase. My schedule has been rediculous this past summer, and friends have been doing the work (very gladly too). If the daughter didn't have kids of her own, my friend wouldn't have considered it, and the reason it's 6-12 months (so she says) is because her oldest child (there's a good gap with the younger) will be starting college and she is going to move wherever they go. I will not make any personal comment on it other than try to picture Barbie meets the 1900s ("There's not a single heat vent in the bathroom!" "There's no closets in this house but one" "Those floors are so cold, but would be much warmer with carpet" "Isn't the porch cute?"--sticks electric candles in every window visible from the road and other frill stuff...) 8) Yes, I am hurt, but I wouldn't want to see innocent kids stuck in the cold becuase of poor parental decisions. I wouldn't feel at peace with that. I guess I am too much of a softee. I belive what goes around comes around, too, so I want to keep a nice spirit with it. My friend really can't help the situation.

Just got back from viewing the old house. It was bad. Termites had eaten everything they could eat, and what they had not eaten had water damage. The staircase was absolutely beautiful! But there was so much mess and damage to the rest of the house, I wouldn't even give $50,000 for the place. It's quite sad. It would have been a mansion in its day.

So, I take it as a sign that things are going to work out with my "first love". Guess I just have to wait and see. Thank y'all for the advice!
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Re: I Feel Like I am Cheating...

Postby Don M on Fri Dec 07, 2012 4:23 pm

Good Luck to you; I hope it works out for you.
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Re: I Feel Like I am Cheating...

Postby SouthernLady on Fri Jan 24, 2014 11:09 pm

Just wanted to peep in and say I close on the house as soon as the pool repairs are made once the weather gets warm enough. :D Well worth the wait!
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Re: I Feel Like I am Cheating...

Postby Fredpappas on Mon May 19, 2014 1:58 am

Well can you please share some photos of the house as you said there is also a pool. I don't think there is any problem to buying that house.. as earlier said by Southernlady that you can say to wait until repair work of pool.
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Re: I Feel Like I am Cheating...

Postby dancalvin12 on Tue Aug 25, 2015 6:09 am

Fredpappas wrote:Well can you please share some photos of the house as you said there is also a pool. I don't think there is any problem to buying that house.. as earlier said by Southernlady that you can say to wait until repair work of pool.


Yeah fred i agree with you i dont think so that there is any problem to buying that house
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Re: I Feel Like I am Cheating...

Postby aortenstone on Fri May 12, 2017 3:18 am

eclecticcottage wrote:I'd look at the other house. Situations like you describe rarely turn out to be 6-12 months and all's well and good. He's your friend, yes, but she's his daughter-and her needs will trump yours I'd bet. Also, how is she going to live there while renovations are on going?


Based on experience, I completely concur.
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