Buying a home

[Capttrae]

I know I'm prolly not the smartest person in the world for doing this, but I'm planning on buying a house in the next year or so. If I was smart I'd just stay in my old paid for trailer house, it's paid for and only costs me $150/month for lot rent, water and electricity. But I'd sure like to have a nice house, something that builds value over time. So I've been looking pretty hard and have found 3 in my little Podunk town.

House 1- 3br/2bth 1750sqft built in 2014

House 2 same as above except 1500sqft

Both of those in the mid 100's

House 3 2bd/ 1bth 1300sqft built in mid 1990's but has 2 barns, another shed, a fish pond and 13acers w/ option to buy more ground. I'm really leaning more towards house 3, bc I would have room in the barns to store my boats, Polaris, and decoys, plus, with the ground and fish pond that would go a long ways towards self sufficiency in shtf. Fully stocked pond and a couple gardens would go a long way. Not enough ground to live off just from the planting and hunting but it's a start.

All three are in my price range. My biggest concern is that just say things do work out for me and the current gf (maybe it will maybe it won't) would house #3 be big enough for us? Any thoughts?

[Lester]

"...just say things do work out for me and the current gf..."

- You can make your future the way you chose.

 

That said,

#3 sounds like you, and 13 acres can support you and many more!

 

1300 sq., foot would be fine for a long time.

You can expand the house when you need to, but I would suggest doing a second bathroom immediately. (Watch HGTV)

[WithLove]

You got any kids or do you plan on any? Because a 2/1 is not a great space for a family, if that's something you'd like. You would be needing to put on an addition at some point.

[Capttrae]

Might have grandkids one day. Having kids is no where in my thought process though, or hers

[journeynow]

I would consider the location as well. What is the neighborhood like? How close to things? How much privacy? What are the property taxes? (More buildings probably means more taxes, more upkeep, more insurance costs, etc.)

 

Me, I prefer land and privacy over living space, so I live in a small house surrounded by woods in a very quiet setting in a town I like. I could have gone even smaller on the house, as it would mean less house to fuss over, maintain, pay taxes on.

 

Making a decision about buying a house based on IF things work out between you and your girlfriend is putting the cart before the horse. It might or might not work out. I'd make your decision based on what works for YOU. If down the road you two get married, then you can combine finances and plans and decide what works for you as a couple. THEN you can expand, sell, move, or whatever.

[Liraele]

House #3, because you'll have add-on potential - or even fresh build potential.

[Capttrae]

I would consider the location as well. What is the neighborhood like? How close to things? How much privacy? What are the property taxes? (More buildings probably means more taxes, more upkeep, more insurance costs, etc.)

 

Me, I prefer land and privacy over living space, so I live in a small house surrounded by woods in a very quiet setting in a town I like. I could have gone even smaller on the house, as it would mean less house to fuss over, maintain, pay taxes on.

 

Making a decision about buying a house based on IF things work out between you and your girlfriend is putting the cart before the horse. It might or might not work out. I'd make your decision based on what works for YOU. If down the road you two get married, then you can combine finances and plans and decide what works for you as a couple. THEN you can expand, sell, move, or whatever.

 

Oh I'm not deciding on a house if or if not based on me and her, it's a thought yes, but certianly not a deciding factor by a long strech, either she's going to be there or she's not. This is more for me than anything, I've been wanting a nice house and I'm able to purchase one.

As for location it's outside of my little town which is smack in the middle of nowhere, I'll be close to pretty much nothing except the hunting lease and I'll be about 1 1/2miles from it and down town White Plains which consists of a store and a café.

Tax rates aren't bad either.

[Scoe141]

Could you have someone inspect the three properties? I'd have to have option 3 feel like a dream home, only to be a money pit in the end. Have you looked at drainage, condition of the house, i.e. prone to mold, flooding etc.

 

If it's White Plains, NY that's a super nice area.

[Capttrae]

Could you have someone inspect the three properties? I'd have to have option 3 feel like a dream home, only to be a money pit in the end. Have you looked at drainage, condition of the house, i.e. prone to mold, flooding etc.

 

If it's White Plains, NY that's a super nice area.

 

White Plains Kentucky. Before I buy I'll have the home inspected stem to stern, flooding is a non issue it sits on a hill, I go by it every time I go home. Good thing about buying a home in a small community you know the previous owners

[DancingFool]

If you are planning to live there for the next 20 years, then go with what suits you best. If you are thinking that you might be selling in 5 years, then a newer standard 3/2/2 is a much better bet in terms of ease of selling.

 

Other than that, when/if you go with acreage, be sure you do additional due diligence. Check zoning, check what you can and cannot put on the property, use, buildings, number of, square footage of, etc. Check with the city/county planning office to be sure there will not be a highway splitting your property in half 5 years from now, etc. Do not assume anything about things like that. What you can't even imagine, can actually happen.

[abitbroken]

If you are away working for months at a time, I would buy nothing and bank as much money as you can and then pay cash or as much of a downpayment as you can in a few years.

Because who is going to maintain it and you are in danger of GF moving in to maintain while you are away.

 

If i had to buy, if i was going to sell in 5 years i would choose house #1. If i thought i was going to stay in my podunk town forever i would choose #3, but not before inspection and to find out if adding a second bathroom right away is feasible - at least a half bath in case something plumbing wise happens. Also, depends on what the zoning is - can you add on to the house or is it too close to one property line?

 

If i planned to work as you do being gone 3 weeks at a time with no one home, I'd choose the house that is most low maintenance and sell it to buy your little acre of heaven when you decide to give up the life - i forget if you did oil rigger or long shore fishing or trucking.

[Capttrae]

If the gf decides to move in, I'm all for it. I'm really hoping this will be my last house, the one I retire to and pass away in.

Oh and I'm oilfield trash and proud

[Scoe141]

It definitely sounds like option 3 is a better fit for you. It sounds like a good investment, so if it is a few extra bucks, in the end you know you'll be happy.

 

Good luck.

[Jibralta]

The only thing about #3 is how do you keep up with the land while you're gone?

[Capttrae]

It's mostly woods anyway so no biggie

[Jibralta]

That's the best case, yeah.