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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Thank you.
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Home buying savvy ladies
So we went at looked at the property in Hudson today and we love it! It is tiny (600 or so sq ft), but imminently expandable (my dad is a contractor and it is on .25 acres). It really doesn't need anything done to it before we would move in. It's in a pretty decent neighborhood. It is not a short sale. The current owners are asking $158,800. They bought it 6 years ago for $113,000 but have put a lot of work in to it.
Anyway, we think we are going to make an offer on it. The only issue it really has is that is has a cesspool for sewage. Any offer we make would be contigent upon either approvals to get tied into city sewer (which likely is not an option) or an approved septic plan being in place. Any idea of what a reasonable offer might be? We are thinking $142,500 - $145,000 to start and negotiate from there but we've never done this before. I guess I just need a sounding board to bounce all of this off of.
Here's a pic. Don't anyone go stealing in on me.
Anyway, we think we are going to make an offer on it. The only issue it really has is that is has a cesspool for sewage. Any offer we make would be contigent upon either approvals to get tied into city sewer (which likely is not an option) or an approved septic plan being in place. Any idea of what a reasonable offer might be? We are thinking $142,500 - $145,000 to start and negotiate from there but we've never done this before. I guess I just need a sounding board to bounce all of this off of.
Here's a pic. Don't anyone go stealing in on me.
Re: Home buying savvy ladies
I would respond, but I'm busy putting an offer in on it.?
j/k- I know nothing about home buying as we have not bought one yet- but GL! ??
I'm coming for you..... LOL.
LMAO! ?Please don't beat me up, Sarah. ?I'll give you a Gymbo coupon!?
I finally got time to post on the nest and ou are the first post!! woo hoo (dont you feel special..lol)
Anyway my first thought is that the asking price is very high for 600 sq ft and .25 acres. plus the fact of the added cost (or lowering of price) b/c of the cess pool. I really think you could find better. Sorry I dont mean to be a debbie downer but I got 5 times the square footage and .45 acres (with attached conservation land so they cant build around me) and I am in a cul de sac. I just think that you could get a much better bang for your buck.
If you want a great real estate agent who works that area let me know. I have one who got us our house and I am still amazed that it wasnt sold before we got it. (Just in case you arent using an agent already)
sorry if I didnt help
I do feel special and hey, if you have any suggestions, I'm all ears. I've been looking for a bit, and in our price range this is the best I have seen. Yes, it is small (654 finished sq ft, plus basement), but that can be easily remedied for not much money (besides, I don't like really big houses) and the cesspool is a definate sticking point. An approved septic plan is a must if we move forward.
We are working with an agent. Lenay Richardson with the Bean Group. She's been great so far.
Exciting stuff! The size would worry me, but I have no experience with additions or the resource that you do in your dad. The yard looks great- and the location sounds good too! I would call a couple companies to ask them best and worst case scenarios for installation. That way you'll have a price range even just to think of in your mind (and to base your offer on). Definitely offer lower because they will most likely not accept your first offer anyway. And check about days on the market or if you can find out why the people are selling- both are good ways to see what their motivation is in selling.
Keep us updated!
The house has been on the market for about 2 months. The current owners are eager to sell because they are expecting baby #2 and they don't want to put the additions on the house to accommodate and they want to move closer to her mother, I guess, because her father recently passed away. We will be getting septic estimates and approvals before we go any further with all this.
Here's my advice. (hey - you asked!)
Find out from the town assessment (public tax record, you can get it) what they assess the house at and ask the person at town hall how that compares to market prices (usually it's a % of what the house might sell for).
My first impression is that seems like a LOT of money to offer on that house - no matter what they did for work. And it'll cost you about 10-12K to put in a septic system, if you can get the approvals.
We usually look on nhdeeds.com, find out what they owe on the house and make an offer based on that and the assessment. Any improvements they did can be taken into consideration, but don't over-compensate for them.
Good luck, Sarah!!!
And I appreciate it! The house was assessed this year at $186,000. The owners had an appraisal done just as they put the house on the market and it was valued at $168,800. As far as upgrades go, the house has all new windows, recently redone bathroom, upgrade electrical and plumbing, GORGEOUS built-ins in the bedrooms, new furnace/oil tank/water heater. There really isn't anything that would need to be done before we move in. However, I think $158,800 is a bit insane. However, in our price range, I can't find anything! I guess this is what I get for needing to live so close to the Mass border.
I too hate to be Debbie downer but having looked at alot of houses in the bowel level of the price market, you can find bigger houses that are close to move in-able. And if your dad is a contractor (which by the way, we still need one, if he still does work as a carpenter/contractor can you email me at kimmid@comcast.net) some of these houses would be so doable. Even if you dont like big houses, you arent getting much room for growth and kids. Just my $.02. If you want to talk more just send me an email anyway. LOL
I am confused at why that house is assessed at so much! I just looked up the tax rate in Hudson and it is only $15/thousand. If you do the math, the house is only assessed at $42,000. I looked up the info on nneren.com to get the tax price they pay per year.
To give you an idea, I live in Pembroke, the tax rate here is $23/thousand. We have over 2000 sqft and .46 acres of landscaped lawn and a shed, our house is assessed at $195,000 and we pay $4600 a year for taxes. So when you look at that, I think they might be telling you the wrong assessment number.
It just doesn't sound right to me at all. When you do the math using what they pay for taxes on that house and how much they say the house is assessed at, it would be over $65/thousand. No town in NH is that much.
I HTH! I don't mean to be Debbie Downer either, but that just didn't sound right to me, and I'm not math genius.
We don't think the assessment is right either. If you look at the breakdown, they are saying the land (0.26 acres) is worth $103,300 which seems really high to me.
Cute house
I think all the PP gave you great feedback. In this market, the price for that house seems extremely high... and your offer is WAY more than generous, those sellers would be nuts not to accept it. What does your realtor think?? OUR realtor gave us realy great advice when making an offer on the house we bought a few months ago.
Seeing as your dad is a contractor, and knowing you'd end up putting money for expansion of this house you're considering making an offer on, I personally think it'd make more sense to buy a bigger house that just needs a tad bit of work. Upgrading a fixer-upper will cost less (typically) than an expansion. I know you don't like big houses, but a 600 SF house for a family of 3 sounds like it's be very cramped and uncomfortable, especially as baby grows into toddler!
There are oodles of short sales, foreclosures, and people on the brink of both. There's awesome deals to be found, as long as you keep an open mind. I'm SURE you can find something in your price range!! You're VERY lucky to have a father who's a contractor, that's something many of us wish we had. Right, Kim?