kelpiegirl Posted December 7, 2006 Report Share Posted December 7, 2006 I have been looking into purchasing a new property/house. Prices have dipped, so that is good. I have also found a great property- well, everything is great but the house! So, after some serious investigation on hands and knees, I don't believe there is a foundation. Yeah, just joists on cement blocks is what I surmise. It basically needs replacing (the house). What absolutely galls me, is the property is just great- two large barns, complete with electricity, and complete privacy. The land is dry, and the property is in a really nice "horse country" area. I can *see* livestock on this small, but nice property. ARGGHH. Why couldn't I have married a contractor?!!!!! So, what would you all do? Keep looking? Get an inspector in to see just *how* bad it is? My other option is to lease spring/summer pasture, and keep sheep off my property- but close. Anyone think that is a do-able option? Thanks Julie Quote Link to comment Share on other sites More sharing options...
Woodenlion Posted December 7, 2006 Report Share Posted December 7, 2006 How bad of shape is the house and where is it? The perfect piece of land is harder to come by than shelter IMO. Toni Quote Link to comment Share on other sites More sharing options...
juliepoudrier Posted December 7, 2006 Report Share Posted December 7, 2006 If the house is livable, I say go for it. Like Toni said, the perfect propery is a lot harder to come by than the house that sits on it. If you can live there for a while, you can replace the house or fix it up if you want--using the land as collateral for a loan. FWIW, I looked at a property where the old house was on a stone foundation (if I remember correctly, the stones were just at the corners). But the house was amazingly charming and I probably would have tried to save the house (needed to indoor plumbing too) just because the architecture was really nice and I happen to like all things antique. In your case, you might find it's more costly to fix the house than to build a new one, but as long as you can live in it for now, I think you'd be crazy not to jump on it! (Trust me, I am farm hunting now, and have been for the past two years--if I found the perfect place with a questionable but livable house, or even a house that needed to be knocked down but with useable well and septic system, I'd be all over it!) J. Quote Link to comment Share on other sites More sharing options...
2 Devils Posted December 7, 2006 Report Share Posted December 7, 2006 I agree with the others. Have an inspector go in and see what they say - if liveable buy it and spend time to fix it up or have a new one built. Quote Link to comment Share on other sites More sharing options...
DebC Posted December 7, 2006 Report Share Posted December 7, 2006 Renovating an old house can be challenging, but it is worth it to be where you want. If the property is perfect for you, I would say go for it!! Have an inspection so you are going in with your eyes open, if you decide to move forward. We are totally renovating our house (while living in it) but it has been worth it all to live here. Quote Link to comment Share on other sites More sharing options...
Malvie Posted December 7, 2006 Report Share Posted December 7, 2006 Agree with the others, finding "the perfect piece of land" is much more difficult than the house. If the house is livable at all, fix it until you can do better. If not---don't know about your part of the world, but down here, we'd slap a "manufactured home" on it till we could get the "real" house built. You can get some of those really cheap. It's exactly what I'm going to do (I'm looking for land; have my house here; when I find the land, will put a "repo" on it for "shelter" until I can afford to build a "real" house on it). Quote Link to comment Share on other sites More sharing options...
borderholic Posted December 7, 2006 Report Share Posted December 7, 2006 Hi Julie, We are in the process oursleves at looking at property in western,ny. We have looked at a ton of them. One big consideration is reconstruction prices. The cost in western ny seems to be from $125 - $140 per square foot. That is a lot of money. Plus if there are major problems with the foundation then your bank won't float the loan. Good luck, Craig Quote Link to comment Share on other sites More sharing options...
workindogs Posted December 7, 2006 Report Share Posted December 7, 2006 Julie It sounds like a pier and post foundation. What is around the perimeter. If it is a pier and post, it isn't necessarily bad...most old homes were built this way. You need to inspect the exterior and interior walls for signs of any shifting/cracks. Take a level and check to see how level the floors are. My mother renovated numerous old homes and always used to jump up and down on the floors to see if the house shook (foundation weakness) or if there was any give (rot). If the house is still standing solid and straight after all this time, then it might just be a good foundation. Get a professional inspector or hire a contractor to look at it. Quote Link to comment Share on other sites More sharing options...
KrisK Posted December 7, 2006 Report Share Posted December 7, 2006 I'd have the inspector check it out, see what you're up against and go for it We bought our place two years ago...we have a livable house, had to spend $$$$ to put in a new septic system but we had no outbuildings. Believe me, outbuildings are pricey too! If the house is even remotely livable, I wouldn't hesitate to take it on. Houses are a dime a dozen...great land and barns...aren't Quote Link to comment Share on other sites More sharing options...
DebC Posted December 7, 2006 Report Share Posted December 7, 2006 Reconstruction costs are a big factor. Fortunately we have managed by doing alot of the work ourselves, and spacing it out over time. I know a bank would never have considered our house, but the (former) owner is currently holding the mortgage. Outbuildings are something my husband would "kill for". Those are a long way away for us. If this property already has barns you are in great shape! If this is truly where you want to be, I still think you should seriously go for it. Quote Link to comment Share on other sites More sharing options...
hoku's mum Posted December 7, 2006 Report Share Posted December 7, 2006 You can fix/move/rebuild the house, you can't fix or move the land. Go for the land, the structure is just a man made thing that is changeable. The land is...a gift. Good luck!!! Quote Link to comment Share on other sites More sharing options...
emmetteabrakai Posted December 7, 2006 Report Share Posted December 7, 2006 Oh I agree with every one else, a house if remotly liveable is nothing compared to the out buildings and the wonderful property. Believe me I lived in a sturdy but very small( appx 900 sq ft) house until I could add on to it. It is on a crawl space and the foundation seemed non existant, but it turned out to be ok. Also I had friends that had a house jacked up and a foundation and even a basement added to it. That turned out to be cheaper than building a new house. That's a fairly extreme case, but it worked for them. Andrea D. Quote Link to comment Share on other sites More sharing options...
kelpiegirl Posted December 8, 2006 Author Report Share Posted December 8, 2006 Okay folks. Well, here's the deal. I made an offer on the place. This is SOOO against my normal way of doing things. Something keeps bringing me back to it, and not wanting to get out of it. I don't know if they will accept- who knows but I will keep you posted. If this goes through, and I haven't lost my shirt, and have sheep, you all are welcome for a visit to christen my place! Julie Quote Link to comment Share on other sites More sharing options...
KrisK Posted December 8, 2006 Report Share Posted December 8, 2006 Julie...if you kept going back...then it's the right move Good luck! Quote Link to comment Share on other sites More sharing options...
DebC Posted December 11, 2006 Report Share Posted December 11, 2006 Good Luck!! Quote Link to comment Share on other sites More sharing options...
MaggieDog Posted December 11, 2006 Report Share Posted December 11, 2006 Good luck! How exciting! Quote Link to comment Share on other sites More sharing options...
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