haapai
Junior Associate
Character
Joined: Dec 20, 2010 20:40:06 GMT -5
Posts: 6,005
|
Post by haapai on Jun 28, 2011 10:34:34 GMT -5
Someone bought the house of six curses, so I've moved onto considering this one. It has a two-car garage that might be larger than the actual house, and much easier to insulate.
When does the summer real estate slump end? This sifting around in the dregs and novelty properties is kinda dangerous. I do not want to buy a property that takes two years to sell.
|
|
Colleenz
Senior Member
Joined: Dec 20, 2010 8:56:39 GMT -5
Posts: 3,983
|
Post by Colleenz on Jun 28, 2011 11:11:07 GMT -5
My first condo was bigger than that.
|
|
Colleenz
Senior Member
Joined: Dec 20, 2010 8:56:39 GMT -5
Posts: 3,983
|
Post by Colleenz on Jun 28, 2011 11:11:33 GMT -5
On the plus side I could clean the whole thing in 2 hours.
|
|
zibazinski
Community Leader
Joined: Dec 24, 2010 16:12:50 GMT -5
Posts: 47,914
|
Post by zibazinski on Jun 28, 2011 11:11:34 GMT -5
Why would you buy it?
|
|
haapai
Junior Associate
Character
Joined: Dec 20, 2010 20:40:06 GMT -5
Posts: 6,005
|
Post by haapai on Jun 28, 2011 11:21:15 GMT -5
Well, there's that thing that colleenz said about getting it clean in two hours. I'm not a real fan of housework. I'm also thinking that buying something that small might put the kibosh on some of my spending.
|
|
haapai
Junior Associate
Character
Joined: Dec 20, 2010 20:40:06 GMT -5
Posts: 6,005
|
Post by haapai on Jun 28, 2011 11:28:08 GMT -5
Plus I like the idea of being able to say that my note is less than my taxes and my taxes are less than my heat bill. At least I'm being realistic about the heat bill.
|
|
phil5185
Junior Associate
Joined: Dec 26, 2010 15:45:49 GMT -5
Posts: 6,412
|
Post by phil5185 on Jun 28, 2011 11:36:59 GMT -5
1 bed/ 1 bath 620 square feet built 1937 LOL - I lived in a place like that the first 6 yrs of life. But no bath, we had an outhouse. There will be no insulation - those bungalows were originally heated with a fireplace so your 'warmth' was determined by how close you sat to the fire, not the general room temperature. Besides, insulation wasn't invented yet. You would need to pull out the plaster walls, hang bats, and re-drywall. While you're there you may as well rewire with modern 3-wire 100 amp service - and replumb. Sounds like about a $25,000 upgrade - are you losing interest yet?
|
|
michelyn8
Familiar Member
Joined: Jul 25, 2012 6:48:24 GMT -5
Posts: 926
|
Post by michelyn8 on Jun 28, 2011 12:07:19 GMT -5
In 98/99 I lived in a 572 sf house with 2 bd/1 bath. It was me and my two daughter and they got the larger bedroom of course. I don't know what year it was built but it was at least 40-50 years old at that time. Overall, it wasn't bad since I had a shed for storage but there were a few things that weren't ideal. Heat was from a kerosene furnace and that unit was like an old pot bellied stove in a steel box that took up about 1/3 of my living room. Cooling was two window units - one in the living room, one in the kitchen. No vents in the bathroom or bedrooms so a space heater was needed to heat the bathroom - the bedrooms got enough residual heat to keep them tolerable. Summer was the worst. I had to use a fan to create a cross breeze between the bedrooms but if I cooked anything, the house stayed hot for hours. I could either put a table in the kitchen or a washer. The dryer went into the corner of the bedroom I slept in so to get to my dresser, I had to climb over my bed. And having a kitchen table meant it blocked the back door so that couldn't be opened. All in all, I have fond memories of our time there despite the less than ideal conditions. It was clean and cheap but not a . Perfect for us at the point in our lives.
|
|
jkapp
Junior Associate
Joined: Dec 23, 2010 12:05:08 GMT -5
Posts: 5,416
|
Post by jkapp on Jun 28, 2011 12:09:22 GMT -5
On the plus side I could clean the whole thing in 2 hours. My last apartment was exactly that size...trust me, you could clean it in even less time than that
|
|
Tiny
Senior Associate
Joined: Dec 29, 2010 21:22:34 GMT -5
Posts: 13,508
|
Post by Tiny on Jun 28, 2011 12:16:50 GMT -5
I've seen 2bed/1bath apartments and condo in the 600 to 700 foot range...
620 square feet 1 bed/1bath - depending on how it's measured... could be: 18 * 20 living/dining room, 11 *13 bedroom, and then another 10 * 11 foot chunk of space for a galley kitchen and full bath. Not too bad if you aren't home alot and don't have alot of stuff. (I'd want something alittle bigger with a second 'bedroom' that could be used as an office/cat room/don't know where to put it room)
Are you looking to live in it, rent it, or flip it??
|
|
Clever Username
Well-Known Member
Joined: Jan 27, 2011 14:15:59 GMT -5
Posts: 1,313
|
Post by Clever Username on Jun 28, 2011 13:01:29 GMT -5
Is there a good market for empty lots in town? How about the market for renting garage space?
|
|
Colleenz
Senior Member
Joined: Dec 20, 2010 8:56:39 GMT -5
Posts: 3,983
|
Post by Colleenz on Jun 28, 2011 13:12:00 GMT -5
You are a guy - our definitions of clean are different ;D
I still remember first time DH cleaned his bathroom when I stayed over at his condo. I asked if he was going to wash the floor. He said "Why? I swiffered it."
|
|
Deleted
Joined: Nov 10, 2024 15:24:28 GMT -5
Posts: 0
|
Post by Deleted on Jun 28, 2011 13:29:00 GMT -5
I know there are different types of Swiffers, but that's what I use. It's the wetjet type with disinfectant cleaner.
I like to think I have standards, but my days of getting on my knees to wash floors are way behind me.
|
|
Colleenz
Senior Member
Joined: Dec 20, 2010 8:56:39 GMT -5
Posts: 3,983
|
Post by Colleenz on Jun 28, 2011 13:32:06 GMT -5
Sorry - I am a scrubber - particularly in bathrooms.
|
|
haapai
Junior Associate
Character
Joined: Dec 20, 2010 20:40:06 GMT -5
Posts: 6,005
|
Post by haapai on Jun 29, 2011 7:58:43 GMT -5
I'd be living in it, for a long time, whether I wanted to or not. It lists terribly. I scrolled past the listing for weeks before finally clicking on it just to make myself feel better about being able to afford more. It's owned by Fannie Mae and not particularly well-marketed and it may still be overpriced. There are two and three bedroom places with 700-900 square feet competing with it. There may be usable space on the second floor and basement that has not been included in the square footage or bedroom count. The house is built into a hill and the basement has a door but few windows.
I think that if I ever got sick of living in it, it would take two or three years and a ton of money and effort to unload. First I'd have to fix every last thing and make the yard immaculate. Then I'd have to paint the interior in very light colors. During the showing stage, I'd have to live with only a fraction of my furniture and possessions in order to maintain the illusion of space. The garage could be used as storage during the warmer periods of the fix-up process but not during the actual showing. I'd have to be downright mercenary about disguising the size of the place and the difficulty of living there.
|
|
resolution
Junior Associate
Joined: Dec 20, 2010 13:09:56 GMT -5
Posts: 7,272
Mini-Profile Name Color: 305b2b
|
Post by resolution on Jun 29, 2011 8:13:54 GMT -5
I do not want to buy a property that takes two years to sell. .....
it would take two or three years and a ton of money and effort to unload.
You should stop looking at properties that are not close to what you want. The place doesn't sound too bad to me for a single person but if you wanted to start a family you would be stuck trying to unload it. If there are two to three bedroom places with 700-900 square footage, why aren't you looking at those instead? Are you saving money monthly to build up your down payment? How long until you are able to afford a property that you would want to buy? Are there any in your current price range that meet your criteria? It is dangerous to buy too much house, but it can also be dangerous to buy a house that you don't really want, just because it is slightly cheaper.
|
|
haapai
Junior Associate
Character
Joined: Dec 20, 2010 20:40:06 GMT -5
Posts: 6,005
|
Post by haapai on Jun 29, 2011 9:36:21 GMT -5
It's sadly possible that a distressed sale is the only property that I can afford, ever. I'm not sure that I am capable of explaining the reasoning behind that with any degree of honesty.
On the other hand, I do have some choice as to what's wrong with the property in question. I think that "tiny but easy to spruce up" may be a healthier choice than "small and beat to hell".
|
|
Tiny
Senior Associate
Joined: Dec 29, 2010 21:22:34 GMT -5
Posts: 13,508
|
Post by Tiny on Jun 29, 2011 9:59:26 GMT -5
There are two and three bedroom places with 700-900 square feet competing with it. A 3 bed/1 bath in 900 sq ft... those aren't bedrooms they are closets. Ok, I don't like rooms that small - makes me claustrophobic. Nothing wrong with a small house - just pay attention to the floor plan (and where doors and windows are located) when you consider the 'livability' of said house. No one likes a bedroom you can't get atleast a full size bed and dresser into....
|
|
Deleted
Joined: Nov 10, 2024 15:24:28 GMT -5
Posts: 0
|
Post by Deleted on Jun 29, 2011 10:41:54 GMT -5
That is about the amount of space I live in and I love it. The saving grace is the rec room in the basement. It allows another person to take company there or hang out and have their own space. The upstairs is open concept and it works great. The master bedroom fits a bedroom suite comfortably, but it is not big by many standards. The second bedroom is about dorm room size. My parents have a large house with lots of space and from what I can see it is just a hoarders trap. They have junk in every nook and cranny. I feel more claustrophobic there than here.
|
|
haapai
Junior Associate
Character
Joined: Dec 20, 2010 20:40:06 GMT -5
Posts: 6,005
|
Post by haapai on Jun 29, 2011 11:02:56 GMT -5
Later, is that second person a kid or a partner? Kids are probably better at dealing with such limited space than most adults. I'd love to hear that it was another adult.
|
|
muttleynfelix
Junior Associate
Joined: Dec 20, 2010 15:32:52 GMT -5
Posts: 9,406
|
Post by muttleynfelix on Jun 29, 2011 14:13:52 GMT -5
You are a guy - our definitions of clean are different ;D " Yeah my DH's definition is much cleaner than mine.
|
|
muttleynfelix
Junior Associate
Joined: Dec 20, 2010 15:32:52 GMT -5
Posts: 9,406
|
Post by muttleynfelix on Jun 29, 2011 14:17:53 GMT -5
My BIL put in a bid on a one bedroom house like that ($15k or so was his bid, the bank system only allowed for 2 bids per person which meant since he was the first to place his bid, he lost the bidding war). He ended up not getting it, but for a single person who plans on staying single (he's 54, not exactly a spring chicken that might change his mind) it would have been perfect.
|
|
april47
Familiar Member
Joined: Jan 8, 2011 18:44:29 GMT -5
Posts: 512
|
Post by april47 on Jun 29, 2011 14:36:50 GMT -5
A lot apartments and mobile homes are that size. My husband and I lived an RV for several years. Also, places in very large cities have very small places. I watch House Hunters International and you're lucky to get a place in Paris with 200-300 sq ft for under half a million dollars.
|
|
Deleted
Joined: Nov 10, 2024 15:24:28 GMT -5
Posts: 0
|
Post by Deleted on Jun 29, 2011 15:41:51 GMT -5
Later, is that second person a kid or a partner? Kids are probably better at dealing with such limited space than most adults. I'd love to hear that it was another adult. Kid. Adults, especially men, seem to need to hoard. And you just can't do that in a small space.
|
|
Wisconsin Beth
Distinguished Associate
No, we don't walk away. But when we're holding on to something precious, we run.
Joined: Dec 20, 2010 11:59:36 GMT -5
Posts: 30,626
|
Post by Wisconsin Beth on Jun 29, 2011 15:50:05 GMT -5
There are two and three bedroom places with 700-900 square feet competing with it. A 3 bed/1 bath in 900 sq ft... those aren't bedrooms they are closets. The house my bff grew up in was 904 sf, 3 bedroom and 1 bath ranch. The basement was unfinished. 2+ car garage with a decent sized yard, by my standards. Now her parents are in a house that's probably got twice the sf and it's them and the dogs. lol.
|
|
Malarky
Junior Associate
Truth and snark are equal opportunity here.
Joined: Dec 18, 2010 21:00:51 GMT -5
Posts: 5,313
|
Post by Malarky on Jun 29, 2011 17:03:25 GMT -5
Is there any land with the house? Is an addition either out or up a possibility in the future?
Structurally sound? Neighborhood?
I have successfully raised a family in a one bathroom, three bedroom 1450 SF house, with a detached garage. We actually have space that we don't use. When the kids and cats are gone, DH and I could actually live just downstairs.
|
|
haapai
Junior Associate
Character
Joined: Dec 20, 2010 20:40:06 GMT -5
Posts: 6,005
|
Post by haapai on Jun 29, 2011 18:08:01 GMT -5
Of all the small, old, distressed houses that I've driven by (repeatedly) this is the one in the most appealing neighborhood. It has mature trees and a pleasant wildness to the yards. The house sits on about a third of an acre and has about 90 feet of frontage. The back yard is fenced. The tax records and assessment photographs indicate that the garage and the deck are recent additions. It might be possible to connect the house and the detached garage or build onto the side but I question the value of such a move and certainly can't afford to do so any time soon. No matter what you add to this place, it was still built in 1937.
I'm hoping that the square footage has been conservatively measured and that parts of the basement and second floor are usable space. There appears to be natural light coming through the upstairs window, so there might be reason to hope.
The sheriff's sale took place in October 2010, and it was first listed in May. The odds are good that the previous owners occupied the place for the entire winter and most of the spring, which minimizes the chances that the basement flooded when the utilities were shut off. A season or two of haphazardly raked leaves has left the yard looking pretty scruffy. That's very cheap and easy to fix.
I'm hoping that when previous owners hocked the place to build the deck and garage, they also put some money into updating the insulation and heating systems. If I see the original plaster walls, I'm turning around and leaving. If I see drywall, I might spring for a thorough inspection by someone who knows what they are doing. The interior walls and trim appear to need painting and the height of the doors indicates that the place was once carpeted.
Does anyone here know anything about the inspection that Fannie Mae does when a house lands on her?
|
|
haapai
Junior Associate
Character
Joined: Dec 20, 2010 20:40:06 GMT -5
Posts: 6,005
|
Post by haapai on Jun 29, 2011 18:52:08 GMT -5
I've noticed that a dishwasher is not included in the listing. That's unusual around here and might just be an oversight. On the plus side, there's a window into the back yard over the sink.
My one good deed for the day will be to refrain from mentioning the price to a NYC resident. I rather enjoy the diversity of opinion that we get around here, even if it does occasionally mean explaining everything from scratch.
|
|
phil5185
Junior Associate
Joined: Dec 26, 2010 15:45:49 GMT -5
Posts: 6,412
|
Post by phil5185 on Jun 29, 2011 18:56:13 GMT -5
the kitchens were so small that people put shelves above the sink so they had somewhere to stack the drying dishes. The bathroom would be an 'addition' - converted when indoor plumbing became common. In the larger houses, sometimes the smallest upstairs bedroom was converted into a bathroom. In others a closet was converted. In the little houses, part of a room was walled off and converted (making the donor room undersized).
|
|
midjd
Administrator
Your Money Admin
Joined: Dec 18, 2010 14:09:23 GMT -5
Posts: 17,720
|
Post by midjd on Jun 29, 2011 19:55:22 GMT -5
Housing prices aside, I still miss NY! Though our mortgage for a 3000sf house is less than the rent we were paying on a 600sf apartment in a not-very-good part of Brooklyn... still miss it!
And yes, it all depends on how the house is laid out - our apartment felt spacious, the living room was about 20 x 15 (with a mirrored wall, which helped). Bedroom was 20 x 10. Bathroom and kitchen were teeny, but we often had family stay with us (2-3 people) and space was no problem. Ideally the bedroom would have been much smaller (as long as a bed will fit in it, I'm good) and kitchen bigger, but it still wasn't bad.
|
|