OUHOMER
7/15/2006, 11:25 AM
Ok, need help deciding what to do..
I live in a very old farmhouse on 5 acres , been remodel many times. At what point do you quit putting money into the damn thing.
Pros
It’s in an ideal location ( I love the location), just south of Mustang, new 30 x 40 steel building, 2 water wells.
Plenty of trees, plus Mustang is growing like crazy.
Property and steel building alone is worth more than what I owe on the place.
Cons
Problems and needs
Termites and termite damage (cost unknown), NO energy efficiency at all, total electric, and bill is about $300 to $350.00 a month. (Kids just moved back home so this will go up)
Needs all new windows ( 16)
Some foundation problems
Some heating and air problems
Would not pass a inspection for, electric, termite, probably plumbing
Scenario
1. Sell it for what I can get for it.
2. Tear down the house and build a new one. (What is the cost to build a house?)
I live in a very old farmhouse on 5 acres , been remodel many times. At what point do you quit putting money into the damn thing.
Pros
It’s in an ideal location ( I love the location), just south of Mustang, new 30 x 40 steel building, 2 water wells.
Plenty of trees, plus Mustang is growing like crazy.
Property and steel building alone is worth more than what I owe on the place.
Cons
Problems and needs
Termites and termite damage (cost unknown), NO energy efficiency at all, total electric, and bill is about $300 to $350.00 a month. (Kids just moved back home so this will go up)
Needs all new windows ( 16)
Some foundation problems
Some heating and air problems
Would not pass a inspection for, electric, termite, probably plumbing
Scenario
1. Sell it for what I can get for it.
2. Tear down the house and build a new one. (What is the cost to build a house?)