House shopping, what a pain

[derekhonda]

Well, I thought I had lucked out. Graduated college right as the housing market was tanking, I know, sucks for you guys but figured as prices come down I would find something for next to nothing.

Ideally I am looking for something a little out in the country, some land, and a nice garage or a barn. It just seems like if it is a nice house it has no land and no garage. Or it has a killer 4 car garage and the house is falling down. Or it sits on 10 acres but the house is from the 1800's and all needs updating. Just seems like nothing is out there, and then I finally find a house, and its definately priced for it. Geeze, what was your guys first house shopping experience like?

[quad59]

The first house I bought was easy. The area we bought in was full of brand new houses and I couldnt afford land so it was no big deal. It was also in Arizona so I didnt have to worry about how it was insultated or what kind of fuel it used to heat with. When we bought here in Ohio it was a pain, some problem your having. We wanted some land but everything was top dollar and you werent getting anything for your money. People around here do a horrible job of taking care of there property. Trying to sell houses that need new roofs,windows,septic,furnaces,and water tanks, and thats all on one house. Just stay focused on what you want dont settle for something you might not like 100 percent when it comes to a house. Especially when it come to this econonmy you are gonna have it for awhile. Take into consideration how much time and money you are going to have when looking at things that require work. Use a realtor to find your house and if they arent working hard fire them and get a new one.

[Moto49X]

Derek, have you been in an apartment or a rental home or what? I was in an apartment and hated it(loud neighbors/people above me), so I am back with the parents for a month or two. I'm young and a new business owner and I want to own and not rent. I'm thinkin of buying a trailer untill I can afford a nice home.

[derekhonda]

Yeah I have been living with my parents as well since i graduated in may. Its not bad, my parents and I get along really well. But also, don't get me wrong, the only thing "good" about it is it's free.

[Pappy]

I bought my first house when I was 22. Ibought it with resale in mind and we lived there for 10 years I think. Doubled my money and did the same thing with the place I have now. When the economy comes back around and teh market rises, I will sell again and finally buy enough land to satisfy me and my kids:p

Right now, in your position, I would be thinking buy low and rent out if you can swing 2 smaller homes for the price of one(can around here!) Take 10 years and bank the $$ and live with your parents while you make enough to pay for your dream home. It can be done, but you have to be willing to sacrifice for awhile.

My ultimate plan....

Sell here when time is right and buy up 150 + acres. Take some of the profit and put up a modular to live in while I redo the farm house (most larger tracts in this state have a house and barn but need work) When the house is done I will move into ity and rent the modular. I may even put up 2 modulars depending on $$ and locate them in a way that wont interfere with me in the final home. Two rent incomes will help when we are older and if done right i can sell off the modulars and 1/4 -1/2 acre to finance other projects down the road.

[raptoric]

Originally posted by Pappy

My ultimate plan....

Sell here when time is right and buy up 150 + acres. Take some of the profit and put up a modular to live in while I redo the farm house (most larger tracts in this state have a house and barn but need work) When the house is done I will move into ity and rent the modular. I may even put up 2 modulars depending on $$ and locate them in a way that wont interfere with me in the final home. Two rent incomes will help when we are older and if done right i can sell off the modulars and 1/4 -1/2 acre to finance other projects down the road.

be careful where you buy. some areas have different zoning laws
and variances. as well as wetlands to worry about.
tried to d what you said and got burned on sub dividing the land
and then had an old indian cemetry right in the middle that now
got protected. i bought 87 acres with the intent to do what you had in mind and have had nothing but problems in front of the board.
now this is in N.Y. so maybe down there by you
its a little easier