I’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?