What to do?

mynwhseI’ve been mulling the idea of buying the aforementioned house in the woods.  I’ve been both ways and back and fourth on the issue many times.  It’s still early and I plan to think on it more but here’s the brain-facts so far.

The price is good and I think I can get it even better.  They list it for 99K but mention “Bring all offers.”  I might try offering $75 due to it’s poor condition.  I shouldn’t wait too long though because special things tend to disappear if you don’t act quickly.  This seems special to me though not for everyone.

Assuming I sell my investment portfolio and buy it what would be the plan?

I wouldn’t move right away because that would mean quitting my well-paying job and losing my healthcare which I currently need.  I’m hoping to see what becomes of TrumpCare before I know for sure.  I would probably just hold on to it for 1-3 years before moving.  That would give me time to fix it up a bit and make it habitable.  Property taxes would cost me $2500 a year.  I would have a place to visit and enjoy away from the city that is MINE!  Once it is habitable, I could start looking for a new job in the area.  Something always comes up eventually if you wait.  There’s always something available for a special person like me.

Money spent on buying land or a house is never “lost”.  Just transformed.  If my retirement plan doesn’t go as expected, I can always sell it and get the money back plus more because it will be in better shape than when I bought it and property always goes up.  Even during the recent depression you did not find any property cheap as you would have expected.

I don’t really see how I could lose on this deal.  My investment portfolio wasn’t doing anything anyway.  Even in an up economy over the last few years I ended up down at least 10K.  That won’t happen with property.  I still have plenty left in my retirement portfolio and other investments that are doing rather well.  Even after all expenses, my net worth was up $36k last year.

I think I’ll think for a few more days and get more serious next week. I didn’t hear back from the realtor so I think I’ll find a different one who is more local to the area and see if I can meet him/her there for another look-see and get their impression on the deal.

Once the deal is done, There’s no rush to move or do anything. (After a new roof is installed to protect the remaining salvageable interior.)  I can take my time and have a feeling that my dream is actually within reach.  That would be a wonderful feeling indeed.  Certainly worth the price.  What do you think?

 

 

 

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3 thoughts on “What to do?

  1. sewinudist

    I would be very reluctant to attempt to rehab this place. It can quickly become a money pit. The more you put in the more you feel you have to put more in and so on. If the 6.8 acres is worth the $75k offer, go for it if you like the land. Consider a small pre manufactured home then use you talents to add a deck, screened maybe, and a shed or your bridge or whatever else. Good luck

  2. I have started to try and change my thinking from bring the inside the box thinker and looking at all the negative what ifs. Life becomes short after awhile and if you then pass on something your heart felt good about doing you will regret it and be filled with what ifs. So it sounds like you have thought it through and in your mind have a decent plan. It would be a great Escape from normal world around you and we all know the body needs calm and relaxation to stay healthy, so I say if you have thought it through and feel good about it you should go as your plan is. Just my thoughts

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