Property purchasing advice?

[Gittinit]

I'm finally selling my house. After trying hard for a couple years then all but giving up, and only having a fsbo sighn in the front yard for the last year, I have finally found a buyer. Of course with the slumping market I aint making a killing, but I'm excited just the same.

I am looking to buy and I didn't give myself much time to get a new place. I may even have to rent for a little while before buying a new home. I plan to take it slow and cover all my bases this time. When I bought my current home I was 19 and didn't know what I was doing. It was still better than throwing money away on rent.

I am currently looking at a few different homes in the hopes that I can make a deal to purchase before I have to leave my current home. Some are forclosures and others are currently occupied by owners. I am limited in my options as I am not up for dealing with home  owners associations, nor do I even want to buy in a subdivision. I have to have room for a shop if the property dosent already have one. Utilitys are more expensive out of the City limits, so I prolly need to stay in or near town. I would love to have 100+ acres hell who wouldnt, but the price tag on anything over a few acres is a little to shiney for my taste.


Now that you have a little history is there any advice you could give this 2nd time home buyer, who has a similar lifestyle to yours? Are there things you would do different if you were buying again? What kind of problems have you had with your hobie, and your home/neighborhood?

[DTB]

I would look for somewhere with a giant garage with a 220 outlet personally......


everything else just dont really matter that much

[Gittinit]

Oh yea that is my dream, but I have to share my dream with my wife and 2 kids. Its so hard to suit everybodys needs.

[DTB]

Oh yea that is my dream, but I have to share my dream with my wife and 2 kids. Its so hard to suit everybodys needs.

There should be enough room for them in the garage too 

[blackdiamond]

Don't spend more than you can finance with a quality loan. I'm ma believer getting a basic 30 year loan (make sure there isn't a penalty for early payoff) and then paying extra along the way when possible.  Having more isn't worth having trouble later on.

[jimbo74]

the garage just needs to fit your truck and tools, all the parts can go in the backyard.....

the 220v can be run on a extension cord from your dryer......

[Toymin8r]

There should be enough room for them in the garage too 

No Way Man.  That's where you go when you want to get away from the women and kids.


Just make sure what yuou get is flat if you want a shop.   I made that mistake and I'm still trying to save enough mondey to excavate(rocks) and build.  Excavating can cost as much as the building if you need to break up rocks.

Also, if you build include the shop in with the loan and plans.   If youcut cost on the actual construction do on stuff that is easily upgraded later.   like pay for the bay windows, or brick or 3 car garage because all that stuff is hard to add on later.  Get cheaper vinyl flooring and cheap cabinets and fixtures because you can easily upgrade that stuff later.  Have it all painted one interior color and paint it yourself what you want, etc....

[BLACKDOG]

the garage just needs to fit your truck and tools, all the parts can go in the backyard.....

the 220v can be run on a extension cord from your dryer......

yeah, then the back yard turns into a trash heap, and the parts get wet/dirty/damaged/rusty etc. sitting out in the elements.  Much better to have them all stored indoors.  It really sucks working on the truck when its raining, and realizing the part you need is outside, soaking wet, under a stack of other stuff.

And we all know that an actual outlet in place is FAR better than an extension cord run off the dryer. 

[Shamb]

I just purchased a home and the one thing I would have reconsidered was drive time to things like supermarket ect.... we're kinda away from the "town's"   so we have a good 15-20 minute drive to get into town... it's nice sometimes but I like a quick drive to pick up some groceries or beer sometimes.

If I had the option I would have bought land but even in the slump we are in right now with the housing market it just wasn't realistic for our budget.

[Gittinit]

We looked at a house today that has 3 acres and most of it is a gully, or to sloped to be used for much more than offroad type play. For an aditional sum I could get an extra acre that used to have a moble home on it.

I have been talking to some of my friends about the homes we have been looking at and they say to steer away from homes built by a "certain" builder. I was suprised to hear this becouse he has apparently built a large amount of homes in this town. Some of the things I was told about him doing and or not doing was just crazy, and I don't even know much about home construction.

So how many of yall would rater build a shop after the origonal purchase of a home? Would ya rather buy a home that already has a shop? Why choose one option over the other?

[BLACKDOG]

So how many of yall would rater build a shop after the origonal purchase of a home? Would ya rather buy a home that already has a shop? Why choose one option over the other?

I'd say buy one with a shop.  Especially in the current market, you'll pay much less for a shop than you would if you built it yourself.  Plus, and I speak from experiences in CA with friends building shops, you'll have to jump through so many hoops building your own, better off to let the PO do the work

only benefit I see to building your own is you can build it exactly how you want. 

I just purchased a home and the one thing I would have reconsidered was drive time to things like supermarket ect.... we're kinda away from the "town's"   so we have a good 15-20 minute drive to get into town... it's nice sometimes but I like a quick drive to pick up some groceries or beer sometimes.

If I had the option I would have bought land but even in the slump we are in right now with the housing market it just wasn't realistic for our budget.

a very good point that I forgot to mention myself.  I kinda did the same thing.  I've got a little minimart within walking distance (at least they have decently price booze )  but for anything else, its a little bit of a trip, at least 20-30 min round trip.  I like being out where I am, and I wouldn't change it if I could do it over, but it is something to consider. 

[Shamb]

Code Select Expand

So how many of yall would rater build a shop after the origonal purchase of a home? Would ya rather buy a home that already has a shop? Why choose one option over the other

Depends on what you want out of it,

Do you want to go buy a rig that someone else built to their likeing or do you want to start from scratch and do it the way you want it?


Personally speaking, If I had the cash i'd build my own just because i'd want it a specific way. Buuuuut... if the price was right and would fulfill my needs then why not buy it already built, saves you alot of time and money in the long run.

[Toymin8r]

Plus, and I speak from experiences in CA with friends building shops, you'll have to jump through so many hoops building your own, better off to let the PO do the work

I don't think he'll have that problem In Arkansas.  I have a relative that is building a house in Morrilton, Arkansas and I asked him about the permits and licensed experts to do some of the work he needs done and he look at me like I was retarded or something.  The only thing I found a little weired is that they don't build houses with basements in Arkansas.    I wondered why they always got their junk in the yard instead of inside.

[79coyotefrg]

its because of the hi water table,  at my last home  if i had a basement it would have needed a 24 hour a day  sump pump to keep it  anywhere close to dry no matter how well it was sealed

Michael,  i would look for  a 3 bedroom  just on the out skirts of town, electric might be a tiny bit more outside the city limits but your taxes are much less in the county
make sure  your  on the ridge  and not down in the flats where it might flood

if your bedrooms are there, you can build a shop for about $12,000 here

if you do the work yourself  less than half of that

remember i worked in the construction industry for several years, i can help you out with the details of  pouring a pad  and  getting it done

what did this "certain builder"  ??  what did he NOT do??

[Gittinit]

what did this "certain builder"  ??  what did he NOT do??

he spaced the rafters further apart causing the roof to wave at you as you pulled in the drive, he also only puts a footing where it will be noticable to the naked eye. I was also told he has had quite a few foundations crack due to  not being thick enough or atleast not the same thickness all the way accross. I was warned by a friend not to park my truck in the carport of one of his homes. :eeek:

[79coyotefrg]

  i was afraid of that

[Gittinit]

While I was checking on another home today I called the builder to find out about easements and restrictions to see if it was even feasible. I quickly learned it isn't, but he told us of another house that was just down the road that wasn't quite finished. It is a 4 bed room 2 bath with a 1 car garage. I didn't get to talk much with him but I may be able to get him to build a shop and still squeeze it in just under the high side of my price range. My wife likes this idea as well cause she can still pick out some of the colors that go with the house. I'm gonna go talk and try to dig up more info tomarrow.

Thanks for your advice so far, keep it coming.

[CTENG in KS]

Little FYI if you are looking seriously at any foreclosure properties...inspect thoroughly...people that have been foreclosed on like to do tricky things cause they are mad.  Example: pouring cement mix down the drains so the first time you turn on the water your pipes solidify.

[BLACKDOG]

Little FYI if you are looking seriously at any foreclosure properties...inspect thoroughly...people that have been foreclosed on like to do tricky things cause they are mad.  Example: pouring cement mix down the drains so the first time you turn on the water your pipes solidify.

about out there, but here  in NV, a home has to be inspected prior to the sale.  Check around for a good inspector, and have them do it.  The guy that did my house was extremely thourough, crawled all through both the attic and crawl space, among other things.  Even down to making a note that my oven light didn't work   

[79coyotefrg]

about out there, but here  in NV, a home has to be inspected prior to the sale.  Check around for a good inspector, and have them do it.  The guy that did my house was extremely thourough, crawled all through both the attic and crawl space, among other things.  Even down to making a note that my oven light didn't work   

nah  you dont HAVE  to have it inspected here at all,  they  figure if you dont look, its your tough luck

While I was checking on another home today I called the builder to find out about easements and restrictions to see if it was even feasible. I quickly learned it isn't, but he told us of another house that was just down the road that wasn't quite finished. It is a 4 bed room 2 bath with a 1 car garage. I didn't get to talk much with him but I may be able to get him to build a shop and still squeeze it in just under the high side of my price range. My wife likes this idea as well cause she can still pick out some of the colors that go with the house. I'm gonna go talk and try to dig up more info tomarrow.

Thanks for your advice so far, keep it coming.

PAY DIRT

[Gittinit]

Well we just got done looking again. We toured a total of 4 homes today and have one more in a few. 1st on the agenda was the previously mentioned property. I was unable to find out any word of mouth, info on the buyer, but I have more digging to do before I make any offers, but he is gonna get back with me on a bottom line type of figure sometime monday.

Next I hooked up with a realitor to view some propertys he had in mind for us. The first was a forclosure that had hideous flourescent turquiose carpet and the po had removed any descent fixture in the home. It had a large lot but a quiestionable addition on the back of the house.

3rd was a nice home but it was built in a bad spot. I don't know how it wasnt washed away couse it was built right in the middle of a gulley, and there wasnt much if any room for a shop.

4th was another home on the higher end of my price range. It is perfect, well, except no shop. It does have a oversized 2 car garage and is in the right school district, to pasify my kids. As a matter of fact I can see it from the deck on my previous home, so nothing would really change except the shape and size of the rooms. There is room to build a shop and There is also the possibility of purchasing the vacant lot next to it.

Both of the homes on the top of my list have vacant lots next to them. This isnt becouse of any particular reason, but it would be nice having the option to expand my lot later if I so wanted. I'm gonna be finding out more info monday from the fella buying my home, then I will really be presse to make an offer on something. 

[79coyotefrg]

hey  if i get my  details finished today (alt,choke wire,something else i cant remember )  when can i drive up  and get the bumper??   could you weld it on ??

[Gittinit]

My welder is being stored at a friends shop already. It will be there till I find a new place. Feel free to come up any time your always welcome here.


We viewed 2 more home since my last post. the 1st was in the wrong location and there really wasnt enough room beside the house to get to the huge backyard. They really were trying to squeese those homes in there.
The second we viewed earlier today and it is ok. It has a really large lot with a gravel easment behind the property. It is possoble I could use this easment as access to a future shop building, although its not nescisarry as there is access on either side of the house. The house is as old as my toyota and it shows. It was well kept but the interior is dated, ya can tell it was an older individual who owned the home.

We have a couple more to look at monday afternoon, then we really need to sit down and discuss making an offer on atleast one of the propertys. So far there are as many as five that could suit our family, but 2 have really peaked our interests. We are having issues with deciding which would be the right one.

[79coyotefrg]

what about the one you said wasnt quite finished??

[79coyotefrg]

Mom wants to go visit Dad's grave tuesday, so i might have sis pull the 3rd seat out of the burb  and  come on up, probably late tuesday afternoon or evening   gonna make for a damn long day for me

[Gittinit]

what about the one you said wasn't quite finished??

The down sides to that one is location and school district. The town its in is kinda a suburb of my town, but it has its own city govt, and a cop of its own, yes one cop, and he like to write tickets. It is north of where I live now and my playground, and my wife's school are both south of where we are now. The kids are willing to change school districts, and adjust very well, but I am partial to the school the are enrolled in now as it is my almamater.

Mom wants to go visit Dad's grave tuesday, so i might have sis pull the 3rd seat out of the burb  and  come on up, probably late tuesday afternoon or evening   gonna make for a damn long day for me

Ok I will be here.

[79coyotefrg]

ok, i'll be there tomorrow  late in the afternoon,  i would say around 4,  i'll have my ar-ttora phone book with me  so if i have trouble

NO NO NO trouble    for even thinking it

OMG  sis might have to drive some tomorrow

[Gittinit]

 

[Gittinit]

After looking, and looking, and looking, and not even reaching half of the potentially good properties in my price range I have made an offer on a house just around the corner from my current home. I should hear something back today. If they accept my first offer I'm gonna feel like I didn't go low enough, and if they don't budge off their list price they are fools. I expect the sellers will come back with a counter offer. If they do I already plan to leave em wondering by not returning with a counter, Its gonna have to be really good offer for me to accept otherwise.

I am infatuated with the idea of having a brand new home, but there aren't many of them being built in this slow market. I'm floating in limbo for what to do, and I still feel as lost as I did before. I had hoped that while looking at some homes I would walk into one and just know, but 

[79coyotefrg]

  we made it home last night about midnight