I just can't decide if I want to move, or I guess more to the point pony up the cash and effort to buy a new place.
Lately I've been weighing the cost of building a shop verses simply moving. The on going internal debate is if I build the shop at my current house (I really really like the location), it would promptly put what I have into the house/lot above the realistic selling price of the subdivision I'm in. So assuming I spend X dollars on building a shop, I've been looking at what other local properties are around with bigger houses, etc. that might support a higher re-sale value. Right now I'm sitting between $10,000-$20,000 below what I believe I could sell my house for (vs. what I bought it for). Good news is I will have zero trouble renting my current house out if I move. The rental demand is high.
There is one that has a house, a modular, common to this area, on it that's roughly three times the square footage of my house (and much nicer inside) and sits on a flat 4 acres (as opposed to my 60'x200' lot). Unfortunately there is no garage, etc. and I'm not sure about concrete footprint. So I would almost instantly have to pony up for a good garage, IMO, which would bring my cost upwards $175,000-$200,000 in the property (after building a shop/garage that I'd want). But I think the local area the property is at could appraise for that, but will be on the fringe. There are also a few old cars and a yellow bus sitting on the lot, that I'm wondering if they could be used for negotiating a lower price if they are left behind Funny enough, I was just looking for the ad I was looking at yesterday (and drove by it after work) and the ad seems to be gone... This place is roughly an 8 minute longer drive to work. It's essentially a house on a flat lot.
This picture doesn't show the lot, probably because you can barely see the cars poking around the house on the left and the bus is just outside of view on the right
The second place is $50,000 more and is actually a double wide trailer pretending to be a house. It looks pretty nice for a trailer though. But it sits on 10 acres and has a HUGE shop on it. You know my priorities. The price just dropped last month and if I could chip away at that $50,000 extra I think I would be happy there. This place is roughly a 15 minute longer drive to work.
Lately I've been weighing the cost of building a shop verses simply moving. The on going internal debate is if I build the shop at my current house (I really really like the location), it would promptly put what I have into the house/lot above the realistic selling price of the subdivision I'm in. So assuming I spend X dollars on building a shop, I've been looking at what other local properties are around with bigger houses, etc. that might support a higher re-sale value. Right now I'm sitting between $10,000-$20,000 below what I believe I could sell my house for (vs. what I bought it for). Good news is I will have zero trouble renting my current house out if I move. The rental demand is high.
There is one that has a house, a modular, common to this area, on it that's roughly three times the square footage of my house (and much nicer inside) and sits on a flat 4 acres (as opposed to my 60'x200' lot). Unfortunately there is no garage, etc. and I'm not sure about concrete footprint. So I would almost instantly have to pony up for a good garage, IMO, which would bring my cost upwards $175,000-$200,000 in the property (after building a shop/garage that I'd want). But I think the local area the property is at could appraise for that, but will be on the fringe. There are also a few old cars and a yellow bus sitting on the lot, that I'm wondering if they could be used for negotiating a lower price if they are left behind Funny enough, I was just looking for the ad I was looking at yesterday (and drove by it after work) and the ad seems to be gone... This place is roughly an 8 minute longer drive to work. It's essentially a house on a flat lot.
This picture doesn't show the lot, probably because you can barely see the cars poking around the house on the left and the bus is just outside of view on the right
The second place is $50,000 more and is actually a double wide trailer pretending to be a house. It looks pretty nice for a trailer though. But it sits on 10 acres and has a HUGE shop on it. You know my priorities. The price just dropped last month and if I could chip away at that $50,000 extra I think I would be happy there. This place is roughly a 15 minute longer drive to work.
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