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WYOC08D
So our grand plan is to move to the East Stroudsburg, PA area, so that we are in between both families, and that Chris is close to NYC for his job field. So we have been looking for houses, went and saw a few, liked them, but decided to wait to buy for another year. So last week our realtor, sent me this house. It's 74,000(housing in this area is so cheap) only thing done to it is the outside and the framework. We could completely finish this house to what we want, so basically it would be new construction. It's almost 2,000 square feet, with another 1,000 below grade. We were thinking we'd go as low as 50,000 first to offer and then see what they come back with. We would pay the house off with cash, and then get a construction loan to finish the house. We were thinking that probably we could finish with about 100,000. We would sub-contract the construction out and Chris probably would do some of it, besides plumbing/electrical work. So would you say do it, or don't do it?
Re: WYOC08D
The lot would probably be a deal breaker to me, unless that's typical for the area?
Would you get the original blue prints with sale, so you could see what the layout was supposed to be?
What would you do with your current house?
Wives Unscripted
How big is the lot?
We were just about to buy a house that we would demo the inside and make it all new, so I'm all for it.
How is the market for your area now? Would your house be able to sell quickly?
Alexander David
11.25.09
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The lot size isn't huge, that's the only thing that we don't like about. It's about .33 of an acre. I'm trying right now to get the blueprints from the listing realtor and we have a construction company going to look at it to give us an estimate to see how much they think it would be.
Our current house now, wouldn't be a problem at all. Chris's company pays our housing, so they would be the ones to sell/take care of it. I know the next question is going to be, why don't you stay there then? With Chris's job he can be called tomorrow and be told to go to California to work, luckily he was put on a long term job down in NJ so we never had had to move. But, he wants to get out of this company eventually so that he wouldn't have to travel and be away from us.
It's worth a look if nothing else. I would probably talk to a landscaper too about the lot and some of the sloping, etc.
Wives Unscripted
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If you go with it get good info on your construction company. I hear so many stories about people buying newly built houses before they are finished and the contractors cutting many corners to finish the build. A friend bought one a couple years ago and DH and I both noticed several of these issues.
This. I think it's definitely worth taking a look and seeing it in person.
Brie's Blog 10.11.08 The Top Shelf Bookshelf
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The school system is good, we wouldn't move into until completed. If he can't find work right away with another company in that area/NYC, he would continue to work with his current company and probably live in our current house, and travel home Thursday night-Monday morning. I don't like I would like him being away during the week, but I'm sure for a short time if needed I'd adjust.
Everyone has already replied with the same small concerns I would initially have and it sounds like you guys are really checking it out before making a decision. Personally, it's something I'd definitely consider. It's great to have the option to finish it to your liking and, if done right, you guys could really come out ahead with a good ROI.
Excited to hear what you guys will decide!
BFP on 2.2.11
To each his own! I wouldn't want Nick to be away that much. It kills me when he is gone for a few days a month when traveling for work. Also are you thinking of having any more kiddos? What will happen when another comes along and everything gets about a gabillion times harder?
Sorry not trying to squash your dream, just pointing out some stuff. If you think you can handle it then more power to you
i agree with what everyone else has said! it's exciting! the only thing that would turn me off is the commute. that commute sucks. would there be a train or something he could take into the city b/c trust me, it's at least an hr of traffic getting into and out of the city every morning and every night.
Zoey Emma 08.18.10
This, but I do think it is an amazing 'buy'.