We put a contract on a 3 bedroom, 2 bath 1350 sq ft house with a full basement, and 5 acres. The asking price was 79,900, the house is older, built in 1951. New windows, roof, septic, HVAC, water heater, so the big stuff is covered. When I looked at it, I lifted the carpet and there are hard wood floors throughout. So that's a bonus. The house looks like something out of the 70's show, so it needs updating, but that will come in time.
Our house is on 1 acre, we totally updated it 5 yrs ago, new roof, siding, windows, floors, kitchen, etc.... It's 1650 sq ft, on a slab, built in 1994. The downside to our house is the location. We're right off a US highway, and it's annoying. With people walking, breaking down, running out of gas, etc... I've hated it here since we moved in 6 yrs ago. It was a house my Husband had bought, and rented out. After they nearly destroyed it, we moved in, and redid everything. Our house values out at 135,000.00. We owe 90,000 on it, so the least we'll take is 129,000.00
The offer we made on the other house is 70,000+ they pay closing costs. It's also contingent on the sale of our house. So we realize someone could come along, and make a better offer... We haven't heard back from our realtor if they've accepted it, or not.
We also know we're already approved through our current lender.
So, do you think we made a wise decision? We want more land for our boys to run, and off the highway. They won't have to change schools, and it's so quiet you can hear the squirrels in the trees (which I love).... Of course I know this is all subject to our sale, and inspections...
I'm only questioning it because there will be work ahead of us, and we're not getting any younger (I'm 41, Hubby's 44).... Our boys are old enough to help (10, 11, 17yrs). They are actually excited about it all. So would you feel good about doing this?
Thanks for reading, and any advice!
Asked by Anonymous at 12:16 PM on Dec. 5, 2013 in Money & Work
Answer by ILovemyPaulie at 12:23 PM on Dec. 5, 2013
Answer by ohwrite at 12:25 PM on Dec. 5, 2013
Answer by wendythewriter at 12:29 PM on Dec. 5, 2013
If you are comfortable with the size then it sounds fine. I would think selling your house on a busy road will possibly take some time, so I would always suggest keeping an eye on other properties in your area if this one doesn't work out. When did you put in an offer? If it's been over a day or two then maybe touch base with your Realtor to find out if there is any word. They may be considering a counter.
Answer by QuinnMae at 12:29 PM on Dec. 5, 2013
Answer by QuinnMae at 12:47 PM on Dec. 5, 2013
Answer by Dardenella at 12:59 PM on Dec. 5, 2013
Answer by louise2 at 1:04 PM on Dec. 5, 2013