I live, write, and garden in the PNW with my husband of 27 years, disabled daughter, college-aged son, and my 84-year-old mother. We have paid off $250,000.00 worth of debt (if you include the interest) in the last fifteen years and as of 6/12/2020 are 100% DEBT FREE!!!!...would you consider buying a house where the carpets are completely ruined by paint and possibly ground in food and soda stains, the majority of the doors had been kicked so they had holes partway through them, every interior door needed to be reframed, and both inside and outside needed to be painted but was otherwise sound? Now...what if it was selling for half of it's assessed value? The owner's are selling as is and don't want to put in any more effort at all (was inherited and they don't want it).
It is not something I am considering (we are not handy), but I am wondering what people in general would do. It is a 4 bed, 2 bath, 1600 square foot rambler selling for $50,000. Good roof, walls, and foundation. I guess I am just shocked that no more effort is going into it, but then again, maybe someone would still want to buy it. It's assessed at $97,000 and in an okay but very remote area.
Just Out of Curiosity...
December 5th, 2011 at 04:38 am
December 5th, 2011 at 04:48 am 1323060526
If I felt it would really be worth $100,000 when it was fixed up, and I Was confident that it would take very little money to fix it, I may do it. I am not handy at all, but paint, doors and carpet sounds like easy stuff (I'd personally hire it out - but from experience really shouldn't cost that much).
That said, I would be concerned if that was how they took care of their house, what else is going on there. How about the state of dis-repair of the non-obvious? I'd probably only consider it if I had no other options. But, I just don't have that love of home fixing that many people seem to have. I think my gut feel would be to move on and not get involved with such a mess. Unless I could not afford a house, otherwise.
But the repairs you mentioned don't particularly scare me. I can see why you are tempted - I feel conflicted thinking about the scenario and I am pretty anti-fixxer in general.
December 5th, 2011 at 05:17 am 1323062239
And if I like the location of course.
Those are things that you can DYI if you are willing to learn. Or get someone else to fix it of course. DYI would be reasonably cheap fix.
December 5th, 2011 at 05:35 am 1323063341
December 5th, 2011 at 12:32 pm 1323088354
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December 5th, 2011 at 07:20 pm 1323112858
Too bad Bellingham is too far to commute daily to Seattle. The price would be right for me.
If you don't have those things, I wouldn't
December 6th, 2011 at 12:33 am 1323131620