A teeny, teeny house...

**asmom** · 05-25-2009, 10:41 AM

$155,000?!! Our house was 10K less than that 10 years ago and it has 5 bedrooms and 3 baths plus it was brand new. Now it's only worth about 185K due to the RE fallout but still........The difference in RE prices all over the country is shocking.

**faithman1012005@yahoo.com** · 05-25-2009, 10:46 AM

It is small but looks like a nice place and hey it's below your budget that's great!

**ScrimpAndSave** · 05-25-2009, 11:43 AM

asmom, my area is expensive. this house would be of different value depending on where it is.

**Inkstain82** · 05-25-2009, 11:49 AM

Originally posted by asmom View Post

$155,000?!! Our house was 10K less than that 10 years ago and it has 5 bedrooms and 3 baths plus it was brand new. Now it's only worth about 185K due to the RE fallout but still........The difference in RE prices all over the country is shocking.

That's a pretty standard first home in my neck of the woods and would cost you less than $50k.

**ScrimpAndSave** · 05-25-2009, 12:00 PM

Yeah I don't think it is really to say what is cheap one place and more expensive in another. It is all totally up to the area.

This house is very, very cheap even though it is a two bedroom once bathroom. The house is also in a very good school district. That taxes are around $2,000 which is very low for this area...

Overall, I think it is a good buy for me because it is ready to move into, it has a fenced in yard, it has a nice kitchen and bathroom and it is WAY below budget...

I am going to see it this week with my realtor.

**asmom** · 05-25-2009, 12:40 PM

Originally posted by ScrimpAndSave View Post

Yeah I don't think it is really to say what is cheap one place and more expensive in another. It is all totally up to the area.

This house is very, very cheap even though it is a two bedroom once bathroom. The house is also in a very good school district. That taxes are around $2,000 which is very low for this area...

Overall, I think it is a good buy for me because it is ready to move into, it has a fenced in yard, it has a nice kitchen and bathroom and it is WAY below budget...

I am going to see it this week with my realtor.

Well good luck! It looks nice and with it being in a good school district that should ease things for you at resell.

**tifnglen** · 05-25-2009, 01:08 PM

SAS, do you anticipate having children within the next 5-10 years?

**ScrimpAndSave** · 05-25-2009, 03:05 PM

tifnglen, I anticipate to have children NEVER. lol

I guess the major problem that I have with this house is the fact that has a lot of strikes against it when it comes to resale value.

1. 2 bedrooms
2. 1 bathroom
3. square footage
4. close proximity to other houses
5. hard to expand or add bathrooms unless I create and upstairs (which is $$$)

But I think it might be perfect for me because:

1. Economical
2. Already updated
3. Gas Heat
4. Central air
5. fenced in back yard

Maybe I should find something that is both great for me and great for resale

**momof1in150** · 05-25-2009, 03:08 PM

You will know the right house when you see it. I know everyone says that but I can tell you that is the truth. Some houses you can see yourself in but once you find the right house you will know.

**minnie1928** · 05-25-2009, 04:02 PM

Originally posted by momof1in150 View Post

You will know the right house when you see it. I know everyone says that but I can tell you that is the truth. Some houses you can see yourself in but once you find the right house you will know.

This is soooo true. Once you walk into the house that's meant to be yours, you'll have this feeling that you're home. That's how you'll know it's the right one.

**Shewillbemine** · 05-26-2009, 12:53 AM

Uugh, prices in my area are around $400k+

**disneysteve** · 05-26-2009, 04:43 AM

Originally posted by ScrimpAndSave View Post

Maybe I should find something that is both great for me and great for resale

I disagree. You should find something that is right for YOU. Don't worry about resale. The home found a buyer at least once before, maybe more than once. If you buy it, it will have found a buyer yet again. When they day comes when you are ready to sell, still another buyer will emerge.

With houses and cars, I don't understand the emphasis many people place on eventual resale value. Buy what you like and need and forget about what will happen 5 or 10 or 20 years from now.

**geojen** · 05-26-2009, 06:33 AM

Originally posted by disneysteve View Post

I disagree. You should find something that is right for YOU. Don't worry about resale. The home found a buyer at least once before, maybe more than once. If you buy it, it will have found a buyer yet again. When they day comes when you are ready to sell, still another buyer will emerge.

With houses and cars, I don't understand the emphasis many people place on eventual resale value. Buy what you like and need and forget about what will happen 5 or 10 or 20 years from now.

I agree with DS. All weekend long on DIY channel there were these shows on, where people who planned to stay in their homes 10, 15, 20 years were remodeling. Then, a realtor would come and tell them what the resale value was after the remodel was complete. Who cares? You are staying the home! Make your house your house and don't worry about 10 years from now.

**wincrasher** · 05-26-2009, 12:57 PM

You have to have some consideration for resale - helps you set a fair value. Would you buy into a declining neighborhood?

FWIW - 768 sq ft is really small. You should consider that you may accumulate stuff over time and need alittle space to grow. Also .11 acres is also a teeny lot.

$200 a foot is outragous to me - I spent $91 a foot on new construction down here in the south.

Ever consider moving south? Lots more for your money.

A teeny, teeny house...