Looking to buy a house, need opinions

[HogBiologist]

OK guys, I want yall to vote on which scenerio you would prefer for a house. This situation is between 2 houses in the same school district. The characteristics of the houses are listed below.

House A:
$95,000, Total Note would be appx $587
just under 2100 sq ft
4 acres
Fenced well, but fence would be better if moved slightly
Room for garden and orchard
Well water/Septic
Gas and electric
Move in ready
Needs only small roof repair on attached closed-in Gazebo
Does not need flooring, but would like to replace some flooring
Closed in two car garage to be used as Large den
Has fire place
Multiple shops (old sheds), will tear down and rebuild with left over good materials
Overall, Less note but more upfront cost. More physical work needed.

House B:
$100,000, Total Note approximately $611
Just over 1200 sq ft
3 acres
Well Water/ Septic but has public meter in place
$300 to run water line
House completely (striped to studs) gutted and remodeled
Rewired
Replumed
new insulation
No fireplace
Stove is on Propane
All else is electric
Carport can be closed in and a fireplace added
Large shop and small storage shed
Room for garden and orchard
No upfront costs other than water line, but hight monthly note
Smaller house/land but no work needed

[guesswho]

Without seeing both houses I'm basing my opinion on everything else being about even, (location ect.).   Then I'd go with the bigger house.  A person wouldn't have to do the repairs all at once.  I'm thinking the bigger house more property has the potential of appreciating at a faster rate vs. the smaller.  In the big picture I think it will have a higher resale value on down the road.

[BOFF]

I don't understand "move in ready" with "needs more physical work"

Also is it correct that the first house has 900 more square feet and  one more acre, than the second house?

Shops, sheds, all cost money as well. I'd be going with the first house if the insulation for heating and cooling is the same as the other one. Have you seen the heating and cooling bills for both?

There is a lot left out of your descriptions to really make an educated decision about which is better. How are the houses around each? A house with a trailer park next to it, isn't going to hold the resell value of a house with a sub division and nicer, or the same value houses around it.

Distance to work the same? Access to houses the same- 2 way roads, etc?


Excited for you though in getting a house!!!


God Bless,
David B.

[HogBiologist]

I don't understand "move in ready" with "needs more physical work"

Also is it correct that the first house has 900 more square feet and  one more acre, than the second house?

Shops, sheds, all cost money as well. I'd be going with the first house if the insulation for heating and cooling is the same as the other one. Have you seen the heating and cooling bills for both?

There is a lot left out of your descriptions to really make an educated decision about which is better. How are the houses around each? A house with a trailer park next to it, isn't going to hold the resell value of a house with a sub division and nicer, or the same value houses around it.

Distance to work the same? Access to houses the same- 2 way roads, etc?

When i say move in ready I mean that there will be no need to do any work on the houses before moving in.  The physical work part means i will have to re roof a portion of the roof where the attached gazebo roof joins the house roof.  The house was reroofed in 08 but not the gazebo.

The first house is on an acre more but is an elderly ladies house.  There is some carpet that we would like to replace and the den has an unfinished floor.  I will need to dismantle the sheds since they are in bad shape, but I can use the good material left to make a single/better shop and a chicken coop.  Over all I would have to work on the exterior and property but not the inside of the house. 

THe second house is 900 sq ft smaller, but is basically a brand new house on the old frame.  I wont have to do any physical work to the property other than laying a water line to the meter from the house.  I have had a bad experience with pier and beam homes before, but this home looks in great shape.

[BOFF]

Was the work done on house two done by a licensed contractor?
Have you seen the heating and cooling bills- electrical bills?



God Bless,
David B.

[BOFF]

Check on your insurance cost as well. Depending on the distance to fire department, water hydrants, etc. insurance will be more/less, resulting in difference in monthly/yearly bills.


God Bless,
David B.

[doublebarrel]

Bigger house can equal bigger repair bills, higher taxes, higher utility bill but you'll appreciate having the extra space. Smaller house is smaller expence but you mayat somepoint wish you had more room. Also not all work has to be done at once.

I just wish I had your note.

[Old Gobbler]

The one with the best school zone, would be my answer

Regardless its very rewarding to get yourself a nice home for your family,  with prices and financing the way they are you are about to get the deal of a lifetime

[gobblingghost]

I would go to the building dept in the city and look at all the records for said houses.
Then you need to look at houses in the area are they mostly rental or owned by people that are likely to move. when people tend to move you can end up with renters around you. Renters don't take care of the property like an owner. Depending on what part of the country you in I would hire someone to do a termite inspection. Also hire a "CERTIFIED HOME INSPECTOR" and tell them you want to know "EVERYTHING WRONG OR COULD GO WRONG" with the house. You can also ask for the maintance records about the house ie how old in the a/c,  well and septic has it ever been pumped,. In my opionion if you have dark floors or cabinets stay away the reason is they NEVER stay clean and your wife will kill you.  If the house is on a crawl space you need to get under and look for water damage or standing water. 

[Jay]

To me, A works. 2100 square feet with less than $600 a month payments is outstanding. My wife and me can handle most repairs, and we could rock that home with that kind of room to work with. We are in the process of totally remodeling a 1350 square foot house every single room including a total kitchen gut out for less than $10000 totally. Value of the house will jump up approx $40,000. Give us 2100 square feet to work on a 95,000 house, and I would have the opportunity to make even a better profit down the road than 40 grand on resale, especially if I didn't have the 1 year completion goal, I set on this house. Always add in what you can make off a house in reselling when you do comparisons, being it can be substantial with the right purchase in relation to your knowledge of repairs or friends/relatives expertise that could help you.

[dirt road ninja]

I'd buy which ever one the wife liked best.

[HogBiologist]

That is the problem.  She likes them both.  I like the bigger house on more land.  I like the fact that the house is on a slab and does not need any major repairs.  THe smaller house is pier and Beam and I had a bad experience with a P&B house before.  The smaller house does not need any work done and I was informed the work was done by a licensed contracter. 

[Hognutz]

Buy the one with the bigger house and the larger property. If you don't buy the one that you like, you will regret it forever.

When deciding on which house to buy, if everything is equal, I always go with the one that has the bathroom closest to the house! That is a decision that will pay dividends on a daily basis.
No need to thank me, it's what I do!! 

Mike

[HogBiologist]

LOL, well the trees are closer to the larger house.  Best of all there is a WMA about 6 miles away from the bigger house and supposedly there are turkeys there.

[Hognutz]

Sounds like a done deal, to me. Good luck with the new house, my friend..