ChalupaCabras
Expert
The wife and I are looking to buy our first property. We have a very small budget and we both want to live in the country.
We have come across a property out in the country with a 2 story house and 3.5 acres of woods for what seems like an absurdly low price; essentially, we are getting the house for a few thousand if you factor in the fair market value of the land.
The catch? The house. While the interior is newly renovated and pretty nice, the exterior is poorly done; i will be spending a good deal of time correcting poorly executed "improvements" to the exterior, which were performed haphazardly during the renovation. The house will need:
* shingles torn up to replace some of the decking
* new siding on the back side of the house
* new trim around most of the windows
* some rewiring due to improper materials used in the power hookup (dads and electrician)
Its a fair bit of work... but we would only be paying what amounts to less than 20K for the house, so what should I expect right?
Relatives and friends still seem to think this is a steal, but It never hurts to have more opinions. What do you all think?
We have come across a property out in the country with a 2 story house and 3.5 acres of woods for what seems like an absurdly low price; essentially, we are getting the house for a few thousand if you factor in the fair market value of the land.
The catch? The house. While the interior is newly renovated and pretty nice, the exterior is poorly done; i will be spending a good deal of time correcting poorly executed "improvements" to the exterior, which were performed haphazardly during the renovation. The house will need:
* shingles torn up to replace some of the decking
* new siding on the back side of the house
* new trim around most of the windows
* some rewiring due to improper materials used in the power hookup (dads and electrician)
Its a fair bit of work... but we would only be paying what amounts to less than 20K for the house, so what should I expect right?
Relatives and friends still seem to think this is a steal, but It never hurts to have more opinions. What do you all think?