I need help. Any advice/thoughts/info would be sooo greatly appreciated.
You see, I live in a house that my grandfather built 62 years ago. It's on a part of the land my great grandfather owned. There's a lot of history in this house, and we do love it here.
We're renting though. When my Gram passed, the family asked us if we'd be willing to rent the house while they settled the estate, cleaned and renovated the property, etc. etc. There's two people renting the barns behind the house, so they need to clean up too - so they expected to prep the house for sale in the Spring of 2015.
The property is 8 acres, two barns and one old farmhouse. Although I love being here, this house needs some work....thankfully, it's mostly cosmetic. The house is sound and strong, the furnace, well, septic system, roof and windows are all new. The hot water heater is a couple years old.
The stuff we still have to do is (things with a star beside need to be done, others are just wants):
- Redo the siding ***
- Rip up the carpet and lay down hardwood in main area, spare bedroom and new floor in bathroom (not hardwood) ****
- Redo the front steps ***
- Paint the roof
- Repaint the trim and cupboards
- Install new counterops
- Install new hardware on the cupboards
- Install new closet doors
- Install a new bathtub
- Put up insulation and drywall in both porches
- Put in a new screen door
- Install new windows in the front porch
- Finish the basement which will involve: digging up foundation, laying gravel and then relaying the new foundation, framing and putting up drywall, installing a second bathroom and painting/putting down new flooring
So really, if you look at what needs to be done vs. what I want to be done, it's actually not a bad list (although it IS long). And a lot of it is inexpensive....paint, for one, isn't much. All of it can be done over time, and done by my hubby, nothing is urgent because it's all just cosmetic...not something I love to look at, but still functional.
It's come time for us to decide if we want to buy it. I'm
debating because, despite the sentimental value behind it, there are
some major cons. For instance, it's in an area that may become
commercial in the next decade. I live in the country now, but it's
starting to be developed. I don't want to live on a farm in the middle
of a commercial area, thank you very much.
- We love it here
- It's close to town but still country
- LOTS of space for the doggies to run, and barns that we can use for a horse or two and some goats
- We know the insides and outs of this house, as my father has lived in it since birth and maintained it for many many years = hopefully no surprises
- It's everything we wanted in a house, except it needs a bit of work
- The area may be changing from country to commercial (thankfully, change is VERY slow here)
- We can get something more move in ready, with less acreage, for the same price
- There's a lot of work to be done
So...keeping in mind that we can get more for less $$, in a smaller property and in a further away location....what would you do?