I have posted before about buying a house.

I have also posted about the various benefits of renting.

I pay 650$ for a two bedroom apartment, all inclusive. It has a tiny bit of character as it is in an older home. There is a huge outbuilding for storage. The landlords are an amazing, low key couple that I really never see except in the winter when he comes to plow the driveway.

Buying may make sense IF you do not end up being house poor. If you can find a place that you can actually afford then maybe buying makes sense for you.

Does the place you are looking at buying represent good value? Will it appreciate? Most property does but certainly not always and only if you are doing the upgrades/maintenance that is needed, is it in a high demand area, etc.

I see both sides of it. Renting works for some people and makes sense. Buying may work for some people depending on a number of factors.

So please take a look at the following property.

Should I Buy This House?

It is 2 minutes outside town limits. Property taxes are 750.00$ per year.

It needs a roof, appliances and various other upgrades.

It is 1.45 acres which backs down onto the Lahave River.

Down in the backyard
Down in the backyard

The property currently sits empty and has been on the market for at least 700 days!

It was originally listed for 124000.00$ and the price has been lowered numerous times and now is at 69,900$.

I would offer much less and see what happens. I feel that this property represents good value, could be updated, upgraded, maybe with some off grid systems for power and hot water, lived in for a few years and then sold or even rented out.

Anyway I want the blogosphere to vote on whether I should consider this investment.

I am going to make an appointment to go and at least look at it and try to find out more about it. My mother’s best friend lives directly next door and I am hoping that maybe she can give me some insight into what is going on with the property.

Please vote and please share this on Facebook, Twitter, Reddit.

Thanks!

“Live Simply”

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19 thoughts on “Should I Buy This House? Please Vote!

  1. Should you buy this home? Maybe – check the septic system if it hasn’t been maintained in more than 700 days this home has been on the market that is going to be a HUGE expense to get in running order – check for prices on getting this looked it. Also if the home needs a new roof you may have mold in the walls and floors – call it what you will this is 2 trailers put together and you could have leaks and rotten floors all over the place. Same with the plumbing – manufactured homes are notorious for plumbing systems that need constant care. This is coming from a real estate agent in the US who lives in a 1959 trailer w/a room add on. So have an expert check out everything before you buy this – it will be money well spent.

    1. I agree with Patty. This looks GREAT to me until I read her post. Yeah, better check things out more closely first.

      1. If you are just looking for a fixure upper to invest in and flip than again the price and location seem to be to your advantage. (Emphasis on seem as I am obviously very far away) Is the river user-friendly beyond just a pretty natural sight and providing the sound of running water…which many people seem to like. ?

      2. Not so much in this location. Further downstream the LaHave River is a major boating area. Here it would be more for relaxing and enjoying the sounds and tranquility. Not a bad thing.

  2. Get it checked for subsidence risk, safety of electrics… Have you got the time to renovate?

    This is not to put you off – if you think this is a project you will gain satisfaction from and it is manageable in terms of both time and money, why not?

    Houses take a lot of work, even if they are well maintained. Just repainting a room is several days’ work – even if someone else does it while you are at work. You might be without a kitchen/bathroom for weeks if not months. If this doesn’t bother you, then no problem… I understand you have no dependents, so that makes it more doable but I do know families that survive such ventures, too.

    Good luck – but do get expert advice from someone who can physically inspect the property, not just kind words from the blogging community.

  3. Jeremiah has a point. River and ocean views count for many of us of ‘our’ age. You want that extra something special. If you have the time and money and do not need to get rid of it first then it really seems like an amazing deal even if you do need to spend a bit to get it up to scratch and from the little I know from reading your blog you might enjoy the challenge of adding the ‘off the grid’ style elements …and it will give you amazing material to blog about which I will enjoy reading!! šŸ˜‰

  4. I think this could be a really good investment. First off, at less than $70k, you are already in a good position. I like your thoughts of being “off the grid”. I think that anyone who can create their own electricity and collect and clean their own drinking water, is better off. Also, you are very smart not to let emotions get involved in real estate. That only leads to financial heartache. šŸ™‚

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