It’s a trade-off. If it were just me, I would go for the better location, but my GF gets at least 50% input here and she wants House B. Frankly I don’t really care, I can make it work either way, and I’d rather she be happy than make my commute a little easier.
We went back to House B earlier this evening to get a second look and have decided to make an offer; we’re going to go over the contract and other paperwork with our realtor tomorrow.
The owner was there tonight and we talked with her for a bit. She was a very nice lady; she and her husband were the original owners, they bought the house new in 1950, and she was kind enough to answer all of our questions as best she could.
Paint is cheap, you can update the house a room at a time and the difference in price is significant, seeing as you would have to pay to add the deck to house A.
I said House B because it sounds like a much better deal. But a lot of details are missing. How much does that 12% amount to per year, and how much would a new car cost you per year?
This was my thought. Paint, curtains, and maybe a few other cheap decorative changes will nearly instantly make the house look completely non-old lady. But you can never add a basement.
Though, the commute is a major factor – if house B meant you couldn’t easily take public transit, that’s a big, big, big issue.
I just bought a house that needed a lot of updating, in which an old lady lived for a long time. You might want to check some of my threads in the Barh House forum to see some of the types of issues we’re encountering. We are totally sure we made the right choice, but it is a major, long-term, and expensive proposition.
Last week $$$ to refinish upstairs floors
Yesterday - $900 to remove a number of crappy trees/bushes.
This a.m. - $180 to repair 2 plumbing leaks.
Tomorrow???
And most of the choices are in the “if you give a mouse a cookie” category. One of our first/biggest projects is gutting/redoing the kitchen and main bath. In addition to the numerous choices of flooring/colors/lighting/cabinets/layout/etc, as part of that project we will be replacing some interior trim, at least the kitchen window, and adding a linen closet door. We are not thrilled with the existing trim and doors, and the windows will need replacing eventually. But when we choose the trim/door/window for this project, we will essentially be making choices that will effect the choices we make for the rest of the house.
Also, do your best to make sure the house is solid. Roof, foundation, sewers, heat/AC, water heater… Chances are you are going to need at least some plumbing/electrical work. And anytime you replace one part of the electric/plumbing - whatever you put in will only be as reliable as whatever you attach it to.
Final point - tho property is generally supposed to be “broom clean”, I’m not sure ours was even “rake clean”! Was a little fatiguing to have to spend so much time and effort cleaning just to get it to the point where we could start improvements.
Always, always make a house purchase contingent on a successful home inspection. They cost a few hundred bucks, generally, but a home inspector (get a recommendation from your realtor) will spot problems that the average homeowner would glide right past, and even if the house is in solid shape with no significant problems, you’ll learn a lot about your house that’s worth knowing if you accompany him while he’s doing the inspection. (And IME the home inspector prefers to have the homeowner along.)
Just saying, your realtor’s interest at this point is in making the sale go through, NOT in having every potentially deal killing deficiency pointed out.
Talk to your friends - find how they liked their inspectors, how through they were. Interview the inspectors - find their backgrounds/experience. Some do several homes a week, attend training, keep up on issues - others do it very part-time. Some have a background in engineering or construction - others are glorified handymen, or ex realtors.
Always sorta bugs me - especialy in a house needing work, when an inspector gives a ton of attention to cosmetic/superficial issues - just running through a checklist, as opposed to really sizing up where the REAL MONEY is going to have to be spent. JMO.
Also, realize the limits of an inspection. The inspection WILL miss something, and comes with NO guarantee.
