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If you had the choice to buy a house that is really old but on a big lot with a pool or a newer home with a small/decent yard what would you pick? considering they pay similar taxes and have similar prices.
What would you buy?
- Thread starter nangiggles
- Start date
DJLegacy2k5
New member
The older home is nice but how much money do you have to put into it to fix it up nice? If it's in good condition and you can fix it up for only a few thousand dollars extra it might be a good investment because of the extra land and space. But neither one of them is a bad choice depending on location and things like that. Also depends on specifics such as which house has the rooms, space, layout, amd ability to be modified to your tastes.
SPEKTOR-AAA
New member
It would really depend on the a few things. For me, landscping would be huge, if the older house had mature trees and nice curb appeal it would be highly considered. Also would think about the heating/cooling system, piping, and roof situation. Older homes have a certain sense of character that you cannot buy when new depending on the house you choose obviously.
The newer house is safe if you want to hopefully limit the headaches/or things you might want to change.
The newer house is safe if you want to hopefully limit the headaches/or things you might want to change.
which is why inspections are done prior to purchase.
Nan, you probably should've specified that you wanted advice from people who have actually purchase a home/homes and not still live in mommy's basement.
lol
DJLegacy2k5
New member
So no Glad or Iggy input? Thats RUDE!
SPEKTOR-AAA
New member
Funny brah, bought my new house last year thanks though. But sorry you must have it in you head that your special just because you think your the only 24 year old to buy a house....pssshhh get real. You ain't shit, post more pics of you wads of cash and countless colognes. I feed off it just as much as you do bud.
Older house (1958) is 1641sq ft on a 0.70 acre lot that is compeltely fenced in (it's actually 2 lots that you are buying) and has a work shop that later can be made easily into a mother in law apt, the house is in move in condition and needs no work, also comes with a 1 year warranty on a/c, roof, electrical, plumbing, all household appliances, the pool, etc, the other house was made in 1990 is 2024sq ft on a 0.22 vaulted ceilings, all stainless steel appliances and no warranty (and I saw the roof and it has at least 3 layers of shingles) it's a corner lot in a nice area, the older house is in a nice area as well but not "as" nice as the new house....
you should really pay more attention on here n00b
redshirt27se
New member
would depend a lot on the locations of both and the potential for the value to rise.
SPEKTOR-AAA
New member
...sorry my post count isn't sufficient lol
redshirt27se
New member
you're talking about puddles, not plank.
oh and the older one is block with metal roof that has 40 years left on it....
SPEKTOR-AAA
New member
Haha oops I was just reading that shit too...fuck
redshirt27se
New member
1958 isn't THAT old for a home. Especially considering it comes with a 1 year warranty.
the old one is 107k and the newer one is 139k I think the old one is a freaking steal but am not sure.... it did pass termite inspection... oddly enough it has a meat locker :O previous owners were hunters
redshirt27se
New member
30k is a pretty significant difference.
pwnt!
DJLegacy2k5
New member
SPEKTOR-AAA
New member
A 350+ per month smaller mortgage is pretty appealing especially if you like the old one. Your getting it cheap enough that if/when you want to move renting it becomes a good possibility.
SPEKTOR-AAA
New member
I know FML haha
The older one has lots of advantages, I'm pretty much paying almost just the value of the land on that one...and obviously I have room to expand the house to wherever I damn well please, also it has no HOA which I kind of like since sometimes they restrict breeds or pet allowance amount (I have a 4 dogs and one of them is a great dane) but at the same time it has low ceilings, a creepy ass attic and smells like old people, lmao (couple of old timers lived in it, nothing some airing out wont help
) it also has wood decorating the walls which I'll probably tear down in the long run and it has 1 bathroom but is plumbed for a second one in the master bedroom, I kinda like the idea of doing things in a house and making it home which is why I like the old one, but I want the input of peeps who own homes and what they think...SPEKTOR-AAA
New member
The older one has lots of advantages, I'm pretty much paying almost just the value of the land on that one...and obviously I have room to expand the house to wherever I damn well please, also it has no HOA which I kind of like since sometimes they restrict breeds or pet allowance amount (I have a 4 dogs and one of them is a great dane) but at the same time it has low ceilings, a creepy ass attic and smells like old people, lmao (couple of old timers lived in it, nothing some airing out wont help
It sounds like you are leaning towards the old one, I would too. Especially with the dogs that yard will be priceless.
The answer is really simple here:
1. LOCATION LOCATION LOCATION!!! Cannot emphasize that enough. Whichever is in the neighborhood that is better quality and looks like it's gonna keep going that way is the one you focus on.
1A. Assuming they're in the same neighborhood, the one that's on the quieter street.
1B. Assuming they're both on dead quiet streets, an insured, guaranteed home inspector's report is the deal breaker, totally worth the money.
When you go into ANY house you are very, very foolish if you hope for the best. What you do is expect the worst and prepare for it, then add another 15% to 20% of what you think that worst is gonna cost you.
I cannot emphasize this enough, there is NOTHING worse than being trapped in a house that you can't sell because you're not sure you'll make enough to pay off your mortgage and have down money for a new place.
And another FYI, animals on a property automatically make it about doubly hard to sell, so you really, really want that place to have resale value from the start.
1. LOCATION LOCATION LOCATION!!! Cannot emphasize that enough. Whichever is in the neighborhood that is better quality and looks like it's gonna keep going that way is the one you focus on.
1A. Assuming they're in the same neighborhood, the one that's on the quieter street.
1B. Assuming they're both on dead quiet streets, an insured, guaranteed home inspector's report is the deal breaker, totally worth the money.
When you go into ANY house you are very, very foolish if you hope for the best. What you do is expect the worst and prepare for it, then add another 15% to 20% of what you think that worst is gonna cost you.
I cannot emphasize this enough, there is NOTHING worse than being trapped in a house that you can't sell because you're not sure you'll make enough to pay off your mortgage and have down money for a new place.
And another FYI, animals on a property automatically make it about doubly hard to sell, so you really, really want that place to have resale value from the start.
dutchman063
Active member
If you're torn between the two.. consider which one is in a better location
If it was my choice i'd take the newer home... less work long term.
If it was my choice i'd take the newer home... less work long term.
I prefer to think of myself as Peggie Pragmatist.
My house was built in 1921, that's pretty old, right? And my husband's previous house had a pool. I can think of all sorts of problems that can crop up between old house + pool, especially when you add in the fact "it's a steal." If the pricing isn't in line with the overall neighborhood then something(s)really frigging expensive is wrong with it, especially if it's been on the market for a while.
new house sold... so we made an offer on the old one.... next week we inspect, lets see what happens.... again it's concrete with a metal roof that has 40 yeards left in it so other than A/C, electrical or plumbing what else could go wrong? (oh and there is a 1 yr warranty on everything and I can extend it year to year for like $500...
An indefinitely renewable warranty on every major system in a house? You're shitting me!? I've honestly never heard of such a thing. Who is the responsible party for overseeing the warranty?
As for what can go wrong, let's see, are you sure there's no asbestos, mold, radon, water infiltration problems, pool or pool system problems, structural/foundation problems? Does it have copper or PVC piping? How old is the soil line? 100 or 200 watt service? What kind of insulation does it have? What's the school district like (real good barometer of whether the neighborhood will hold its value or tank in the near future).
Again, I go back to my original statement, if the house is dramatically out of line with the pricing of the neighborhood and it seems like it's too good to be true then proceed with extreme caution.
But you're bound and determined so I sincerely wish you luck and hope it brings you a lot of happiness.
SPEKTOR-AAA
New member
Let us know what happens
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