That looks interesting if you have a small budget.
What comes to mind is that I suppose that you can't build these kind of homes everywhere, do banks loan you a mortgage easily and what is the resale on them ? Do you they sell easily ?
Buying a House
- Thread starter AeryFairy
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That looks interesting if you have a small budget.
What comes to mind is that I suppose that you can't build these kind of homes everywhere, do banks loan you a mortgage easily and what is the resale on them ? Do you they sell easily ?
Those are good questions. I forwarded the information to my son. I think he should start to make some serious considerations if he really wants to be on his own. Having the property is a big advantage. He needs to find out the cost of foundation, plumbing, well and septic. I’m pretty sure the existing well/septic are not functioning but to be honest, I don’t really know since they haven’t been used in over 20 years. Do they go bad? Lol
These are things he should start making calls about if he’s serious.
These are things he should start making calls about if he’s serious.
I would say yes. Everything has wear and tear plus these additional costs need to be included in his purchase. It may still be a good way in which to climb onto that property ladder.
He really needs a ton researched. Is there already electric lines? How about internet service.
Between having to build, service or replace plumbing and well water, and new plumbing lines, heating.....as well as high cost of living area and taxes, and transportation. Is it completely rural?
Does it have a driveway, drainage ditch? Any utilities?
Sometimes people hold on to land because it's already paid for without thinking of all the extra costs it will entail to actually live there
The property does have the electric lines. It also has well and septic but my guess is they are no longer any good, but I don’t know much about that stuff. He definitely needs to do his homework if he is even considering it.
My dad was seriously thinking about building a small camp/house on an upstate New York lake; he'd gone so far as to buy a plot of undeveloped land. Nearby, there are friends of our family from as long as I remember (longer, actually... supposedly they let their oldest daughter and I sleep together in a bed when we were infants of about the same age. Dad used to tease me about how I had to marry her...)I will be posting here soon. So very, very close to paying off my student loan, and then my next goal will be saving up for a house. I would like to buy property and build a place out of shipping containers, or maybe use one of those log-home kits you can buy. I haven't researched it too deeply yet.
But whatever I do, it will be unconventional
I hate it when that happens too. There's a change in routine, like going to the vet, which they HATE, and we can't explain why it's happening and how we still love them.
Val
Forum Legend
Congrats!!!Holyour house passed inspection and they want to go ahead with purchasing it.
Fantastic!!Holy
Excellent!Holy
I still feel like it’s premature since the buyers have until January 15 to obtain their mortgage. But we’re getting closer! Finding a house is now proving challenging. Actually going to the houses and seeing them in person is a lot different then looking at them online. Many many flaws that they don’t put in print, lol. Our low budget doesn’t help, along with husband preferring a house instead of a condo. And with son going in on the purchase with us, just makes it harder for the three of us to agree.
Yep, online they of course try to emphasize the positives, but it's a good starting point in a lot of ways. It's too bad Husband wants a house, because with the budget, you'd have more options for condos, I think, especially where you are looking.
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