Is this house worth $35000?
find a locally experienced real estate person or 2 of them,who respect what you want, will work for you,,not anybody else they may have ties to meaning a biased analysis before purchase,give them.her/him a tour of the house,( say as little as possible),,,then find a recommended contractor,,no,, 3 of them, to offer estimates on upgrading,an estimate accurate give or take ten percent,you may decide to take the property for the stated price,and have the contractor handle one two or 3 big ticket items,leaving some relatively easy but time sucking smaller jobs for yourselves, as a longer term strategy, part of the finished house might be rented out as space that would help pay off,pay down your expenses in time & labor, additions to the house obviously,need to clear local housing & possible state & federal epa rules & regs,get them precisely to tell you what you have to do to comply,seeing that mr contractor ( licensed) will do his work & those under him,per city cty state rules & regs, you guys need to talk over longterm,shirt term ,what needs to be done,,rather complex stuff, one goof on a big item,a rule not followed,may mean a tear down for additional expense,also additions likely mean increased property tax. kids,,in years ahead they,,2 -3 4 maybe will need additional space,keep some money aside for an unanticipated expense,like an illness complicating & delaying work a couple years down the line, Some items in the way of upgrades after doing them,may make no difference,I E increase,, in the property net value.be careful of that. Once you get good info from the realtor,costs short term & long term,what you & hub are quite able to do by yourselves,
Bring it to California and make a million dollars.
So much depends on where in the world that house is. In Britain you could not buy any house (even with just two bedrooms), in any halfway reasonable condition for under the equivalent of $100,000 anywhere near any town or city. Possibly in an outer Scottish island you could buy such a house for the equivalent of $35,000. And it has a big plot of land - over an acre?! For most of us that would be a country mansion, even if we had to do a lot of work on it.
That depends on the housing market in your area. Around here that house with that much land would probably run half a million, even in that condition. You need to look at the comparables in the area and see what everything else is selling for.
Can't say. Probably. Mostly depends where it is. In my area you'd probably pay $150,000 or more for the land with nothing at all on it, so in my area that would be an unbelievable bargain and someone would have to be nuts to offer it for that price. Real estate prices vary tremendously according to the location. What you have to consider is: what would you pay for the same property and house with all that work already done, and how much will it cost you to buy that house and do the work? If the total of the house and the work is much more than you'd pay for an equivalent place in that location, then it's not a good deal. You may want to take a couple of other things into account, such as are there any equivalent properties available at all, and the possibility that there's more to be done on that place than you can tell at this time, and that's an excellent possibility. Figure out what you think you'll have to spend and add 25% to your estimate.
smoke damage? you aren't going to be cleaning that to get the smell out -- what you do is rip out the wallboard entirely and hang new. Then you mud the whole new walls. [Btw, laminated flooring is DIY to your husband while carpet maybe isn't.] if it worth thirty five thousand? if you can live in it while doing the work, room by room, and it's going to sell when you're done for enough to pay you both quite nicely -- yes, I'd hazard the risks of discovering there are other repair needs you don't know. But if you can't live there? Questionable -- that puts big time pressure on you to get done and brings you into a taxable income situation [instead of tax free].
Sounds good. But location is also important. Is the neighbourhood safe? Are you in the wilderness? It's certainly cheap so you need to check the utilities such as water, gas, electricity and drains. Make sure the house is not subject to flooding or sink holes! Ask neighbours if they know of any past problems. Assuming you have neighbours! Your lawyer should also ask basic questions of the seller to make sure there are no hidden problems such as subsidence etc. Good luck. If it all checks out it is a bargain.
depends on what theyre going for in your area .. if you can get one in better shape for the same money its not worth it lol ... but if its worth double what you paid fixed up alittle and you have the time and resources hell yeah ..