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View Full Version : Home builder, real estate know *******’s


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?)
swardboy
7/15/2006, 11:43 AM
Sounds like you'd forever regret leaving that site. Surely you could inexpensively hire a contractor and get a supremely energy efficient home, compared to paying some realtor's fee/homebuilder's profit margin and dream about the location you USED to have...
sanantoniosooner
7/15/2006, 11:45 AM
Not enough info to give advice.

If I was me, I'd continue to live in it and build a new home at a slow enough pace to pay cash. You can build a home yourself at a greatly reduced cost and if it's on the property you already live on, it's not as big of a hassle. You can work on it yourself on nights and week ends.

You might end up with a $150,000 home for $70,000 and paid for.
BoogercountySooner
7/15/2006, 11:55 AM
I would build! Building cost are going to keep going up. If you plan on living in this location for a long time I would do like SAS said. When you get the new one done sell the old one to someone that would move it to their location.
OUHOMER
7/15/2006, 11:56 AM
Yes, i would regret moving from this location, As far building it while i still live in the old house, I would want the new house placed exactly where the old house stand, I think?? may have to rethink that or at lest give it some thought.
OUHOMER
7/15/2006, 11:57 AM
I would build! Building cost are going to keep going up. If you plan on living in this location for a long time I would do like SAS said. When you get the new one done sell the old one to someone that would move it to their location.

this is a old 2 story house. i dont think they would get 2 miles down the road before it fell a part. Base was built in like 1903
mrowl
7/15/2006, 12:39 PM
if the land and area is awesome, I would build another house myself right next to the old one. like others said, you can do it over a period of time, and save tons of $$$$$$
olevetonahill
7/15/2006, 12:51 PM
What kinda Fin hillbilly are you ?
Burn it collect the insurance . move you a double wide in the spot . ywia :D
OUHOMER
7/15/2006, 01:53 PM
What kinda Fin hillbilly are you ?
Burn it collect the insurance . move you a double wide in the spot . ywia :D


With my luck I would get caught and have to move to the BIG HOUSE at location not of my liking:(
OUHOMER
7/16/2006, 09:09 AM
I think I will start by getting a real estate agent to look at place and maybe get an appraiser. Maybe the place is worth more than I think. I just found out the place next door sold for $195,000.00 :eek: :eek: