I have been a property investor for years, and the house I am In I love dearly. This has not always been the case, but I always seem to make due with the things that are wrong with it. With every property I buy I have an exit planned and written out before I move in. I bought the place for $160,000. cash it appraised this year for $399,000. the previous year $350,000.00 the year before that $325,000. When it hits $500,000 to $550.000 i will sell it, My rock bottom price is $460,000. As soon as someone offers me that I will take it regardless of how I feel about it. My Point is this, overall the house has worked for me, but if you are buying the home as an investment then have it be just an investment. You buy the investment based off of the numbers it will generate for you. The emotional states or feelings that you are gettign are really irrelevant. Now as anticeptic as it seems this is how you buy an investment. Now if you are going to live in it then and you like the house all of these issues become clouded, and suddenly your payign more than you should, and spending money you will never recover, to to have your dream house. My dream house will come along and when it does I will have the cash to buy it and I won’t even care. Bu tuntil that time that I am ready to retire maybe in a few years I buy straight for investment not emotion.
JOB SITUATION HAS REQUIRED A RELOCATION OF MY FAMILY TO A RURAL SOUTHERN STATE. MANY FACTORS IMPACT THE DECISION OF WHERE TO BUY… MOST IMPORTANTLY, SCHOOLS.
WE HAVE THREE DAUGHTERS AT HOME AND HAVE FREQUENT VISITS FROM WIFE’S PARENTS. IN THAT REGARD, THE HOME HAS FIVE NICE SIZED BEDROOMS… MASTER AND GUEST DOWN (GOOD BECAUSE MOTHER IN LAW IS HANDICAPPED AND CAN’T DO STAIRS). THREE BEDROOMS UP ALONG WITH OFFICE AND PLAY ROOM UPSTAIRS.
THE HOME SITS ON 40 INCREDIBLY BEAUTIFUL ACRES ABOUT 7 MILES FROM TOWN. THE WAY THE PROPERTY SETS, THE HOUSE AND BRAND NEW BARN ARE NOT VISIBLE FROM THE ROADS AND TOTALLY HIDDEN FROM THE NEAREST NEIGHBORS. IT IS THE UTMOST IN PRIVACY AND SOLITUDE. PLUS, THE PROPERTY IS FENCED WITH CATTLE GRATES SO THAT ONE CAN HAVE HORSES AND GRAZE A FEW CATTLE. BEHIND THE HOUSE IS AN UNBELIEVABLY BEAUTIFUL SPRING FED LAKE THAT IS SURROUNDED BY TREES AND STOCKED WITH FISH. THE LAND HAS BEEN CLEARED AND WORKED INTO A THING OF UNSPEAKABLE BEAUTY.
ALL THE THINGS THAT AN OVERWORKED AND OVER EXTENDED FAMILY COULD WANT ARE THERE FOR THIS PLACE TO BE A SPIRITUAL, MENTAL AND PHYSICAL RETREAT FROM THE WORLD.
THE CHALLENGE IS THAT WHILE THE BEDROOM SITUATION ACCOMMODATES OUR FAMILY, THERE ARE SOME MAJOR DETRACTORS…
THE STAIRWAY TO THE UPSTAIRS IS VERY STEEP AND HAS SHORT STEPS.
THE MAIN LIVING AREA (GREAT ROOM) IS TOO SMALL TO FIT OUR FAMILY’S BABY GRAND PIANO.
ADDING ON TO THE HOUSE PUTS THE INVESTMENT IN THE PROPERTY TO A LEVEL THAT RECOVERY WOULD BE EXTREMELY DIFFICULT.
HELP! HELP! HELP! MY HEART WANTS THE HOME. MY MIND SAYS THERE ARE THESE PHYSICAL CHALLENGES WITH THE HOUSE THAT WILL BECOME MORE DIFFICULT WITH TIME.
I WOULD APPRECIATE ANY INPUT THAT ANY OF OUR WISE CONTRIBUTORS MIGHT BE ABLE TO GIVE ME.
Is it possible to tear out the staircase and enclosing wall to put in a spiral staircase? I saw a rehabed house where the newly opened space increased the living room by about 20%.
They built the spiral to make it wide enough to use easily. It wasn’t one of the wrought-iron ones.