OfflineHey all,
Just got a deal presented to me. A free house 3 bedrooms 1 bath. But, it needs moved.
Here's the deal. I have been given a 1000 sqft house, built in the 1950's. It's solid throughout. It needs moved. It needs renovated. Floors are solid hardwood which can be refinished. Needs plumbing... fixtures, new kitchen as well. Also, I know the entire lifes history and who built the house as well as several others in the area.
So, I want to add 500 sq feet to it and a full basement. After done, it will have 5 bedrooms and full basement with total living space of 2500 sq feet. The cost to move, puchase a new lot and renovation, $50-70K. Will sell for $120-$150. How's that for a deal? I've got another located... same deal too. But, at this point I'm not sure how fancy I want to do. What do ya'll think?
Looks like you need to buy a block of land and just start plopping them down.
JK
Just make sure what you are getting for "free" is worth the free. But if your numbers are right, sounds awesome!
Congratulations. Can't wait to hear "the rest of the story".
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
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Well, the current house was built by my wifes Great Grand Father. It is owned by her father on some farm ground her family farms today. I have a choice of free land to place it on in the country or I can buy a lot in a few areas in or just outside of town for $5-$20K. There is no rush for this as it is an "inside deal" sort to speak.
Great Grand Father was well know for his workmanship in the 30's-60's. Almost all of his houses are still here today. In fact, the block in which I live, he owned, sub divided and hand built 10 houses back in the 1930-60's. His workmanship is evidenced by the condition of the original construction is not seen today by any imagination.
With regards to the current house, the structure itself is sound as far as walls, flooring etc... No bowing or rotted wood. The attic is fully accessable and shows no signs of damage. This space alone would make a bonus room but will be instead one of two bed rooms up stairs. It will need everything redone but I can do part of it myself but the electical and minor plumbing will be left to the pros.
It was lived in until about three years ago but is closed to the outside... No animals have had access to it.
So, as I said I have an option to place it on free land... I have access to 10 acres or more at no cost but am hesitant as this land was homesteaded and has been in the family since 1886 with extensive family history to go with it.
My other option would be to purchase a lot in or around town which run $5-$20K. This will most likely the way I go with it.
Any tips or ideas as to what ya'll would do?
Thanks!
Just make sure what you are getting for "free" is worth the free. But if your numbers are right, sounds awesome!
Congratulations. Can't wait to hear "the rest of the story".
Rina
Check with your zoning board from your town or county to make sure you have all the permits needed to move and place the house. I do not know many counties where you can just put a house down without getting at least the zoning board involved. Besides it would be worse if they made you move after you had it on a foundation.
Sounds like a great deal if the numbers check out and such.