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we might be crazy
We are thinking about buying a new house.
(don't feel like you have to read this whole thing, btw- just getting it out!!)
It's this totally crazy thing that will take forever to explain, but basically, there is an older home on the market in the next town over (better schools, much closer to MIL who will be helping watch baby, etc.). We planned on trying to move there within 3ish years.
But this house is in the perfect neighborhood and has the perfect lot. Seriously, it could not be better for DH and I. I want a neighborhood with cul de sacs, etc. for our kids to play. He likes space/land/woods and not being too close to neighbors. The house is on a corner lot that is almost an acre. You can't see your neighbors. The yard is huge and pretty private, with a big garden for him, a fruit tree orchard, an amazing party deck, etc. He loves it-and he is usually pretty indifferent about house stuff.
In addition, we know our next house will need a garage and basement (not easy to find in our budget) because we are inheriting all FIL's tools and motorcycles. This stuff currently takes up a 2000 square foot basement and it is wall to wall.
The big push came from MIL, who has brought up us moving to that area almost every time DH is with her. Long story short, they set aside money for DH and I when they bought SIL a house two years ago, and we were going to inherit it when MIL dies. But apparently she and FIL decided they'd rather give it to us now for a house (and only for a house-otherwise I would take it and pay off my student loans, etc). So she feels like we should do this now to honor FIL's wishes.
The house is a big project. An older woman lived there her whole life and is now in a nursing home. It is cosmetically awful. But the heat/air are new, water heater is new, roof is new, etc. Most of the windows have already been replaced. It needs a new kitchen, new bathrooms, etc. but they don't HAVE to be done in order to move in. Before moving in, we would refinish the floors and paint. THen we could go from there.
I think we are totally crazy, but I feel like this might actually happen. We can't sell our house until June, but that would give us a buffer of time to get some work done on this new place if it works out. We could definitely stay in this house for 20 years and I would have lots of fun projects there. And our realtor, who is a good friend of ours, actually thinks we stumbled onto something brilliant, which means maybe we aren't TOTALLY crazy...
Anyway-here's a virtual tour if you're interested (also the price on the tour is not even close to what it is listed for now-it has almost come down $100K).
Re: we might be crazy
I don't think that it sounds crazy at all. The house sounds like it will fit your current and future needs. Right now home prices are amazing and you also have help from your ILs. In your line of work you know where/how to get low prices on high quality finishing materials so the updates aren't as financially daunting as they otherwise might be.
You are definitely not crazy!! That house has tons of potential! I love the back porch and the huge lot. All the built ins could look awesome with some paint!
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I think you guys have the drive, ability and talent to turn that house into something amazing... and you know that it's all about location. If it's on the right lot with the right schools, right neighborhood, cul de sac, etc... the cosmetic issues will be fixed with time. They are numerous so I understand how you would see it as a daunting task to re-do the whole house, but it really does give you a great opportunity to start from scratch and get everything exactly how you want it. Especially if the major appliances, etc. are doing well, I would say you're not crazy but ambitious!
And yes, I totally want to see what you would do to this house!
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What Kim said
I think it sounds awesome.
I don't think you're crazy. I looked at that house and saw a ton of potential (literally, I redid it in my head as the pictures went by). It needs redone for sure, but that is something you might enjoy. My only question is if you're going to regret not building. You of all people are pretty particular about things, and I wonder if building to your specs wouldn't be easier in the long run.
If you do buy this house, I can't wait to see what you do with it.
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That house looks like its been awesomely maintained. I don't think that's crazy at all.
And, I've learned that you all have housing prices much higher than here in the midwest, but...we'd be hard-pressed to find a house like that for almost 100k less than whats listed. So, yeah, I would so go for it. Good luck!!
We will build one day, but financially, I don't think it will be possible until our kids are grown. That's what my parents did and I'm okay with that. DH and I have talked about it a lot, and I don't think we could really do what we wanted and still have the # of kids we want and provide for them comfortably right now, so we'll build our empty nester home one day!
But yes, it needs a lot. First things first, I'm taking down the wall from the kitchen into the living/dining area and putting in a bar to open up the space. If I do that soon, I can live with the bathrooms for a little while!
Oh, I did doodle the floor plan for my house blog:
myhouseanalysis.blogspot.com
I did a computer floor plan and some perspectives of how I would tear down walls into the kitchen that I'll post on there before too long.