NT should I buy this house? 2000+ sq ft for 63k across from school, good neighborhood

[i am that dude]

Composition, Three Plus, Slab, Kitchen/Dining, Ceiling Fan, Garage, Central, Gas, Central-Electric, Gas, Electric, Range/Oven, Dishwasher, Refrigerator, Garage Door Opener, Washer Connection, Dryer Connection, Vinyl, Carpet, Great Room, Study/Office, Game Room, Cable TV, Patio, Chain Linked, Natural, Public Service OK, City, City, City Street, Vacant, Conventional, Cash, Bank Owned, None
Pros
square footage (2000)
Would be my first house
4 beds 2 bath
1/2 acre lot
across the street from the Junior high/High School I attended
3 miles from mom'n'em's house
multi level with extra room upstairs I could customize into a theatre, office (computer room), workout room,  anything
price is WELL below average cost/sqft ratio at $31.5 when average in a decent neighborhood here is more than twice that, around like $75

Cons
definite fixer upper- would have to put in new floors, redo kitchen, paint walls, replace windows, knockout kitchen wall and put up an Ibeam, I see a window air unit would have to replace with a CHA
Old (20yrs older than me)
Ugly

I am in the market and probably willing to go up to probably 160k, so 63k would be way under that, even after the above renovations which I can do much of myself and with my dad, and what I can't hire youknowwhats from outside Home Depot and the Workforce center which would literally save 10's of 1,000's of dollars.


My mortgage would end up like $300

http://cb.lawtonhomesnow.com/search...m_source=alert&utm_medium=em&utm_campaign=la1

 

[i am that dude]

Composition, Three Plus, Slab, Kitchen/Dining, Ceiling Fan, Garage, Central, Gas, Central-Electric, Gas, Electric, Range/Oven, Dishwasher, Refrigerator, Garage Door Opener, Washer Connection, Dryer Connection, Vinyl, Carpet, Great Room, Study/Office, Game Room, Cable TV, Patio, Chain Linked, Natural, Public Service OK, City, City, City Street, Vacant, Conventional, Cash, Bank Owned, None
Pros
square footage (2000)
Would be my first house
4 beds 2 bath
1/2 acre lot
across the street from the Junior high/High School I attended
3 miles from mom'n'em's house
multi level with extra room upstairs I could customize into a theatre, office (computer room), workout room,  anything
price is WELL below average cost/sqft ratio at $31.5 when average in a decent neighborhood here is more than twice that, around like $75

Cons
definite fixer upper- would have to put in new floors, redo kitchen, paint walls, replace windows, knockout kitchen wall and put up an Ibeam, I see a window air unit would have to replace with a CHA
Old (20yrs older than me)
Ugly

I am in the market and probably willing to go up to probably 160k, so 63k would be way under that, even after the above renovations which I can do much of myself and with my dad, and what I can't hire youknowwhats from outside Home Depot and the Workforce center which would literally save 10's of 1,000's of dollars.


My mortgage would end up like $300

http://cb.lawtonhomesnow.com/search...m_source=alert&utm_medium=em&utm_campaign=la1

 

[j4ck]

go ahead.

 

[i am that dude]

Also, what are the pitfalls of buying a house not "move in ready?" Well, technically it is, but in terms of my own standards for what I want it isn't. Assuming I just want kind of mid level, average replacements about how much more would I need to throw into it. I don't need it to be some MTV Cribs %*@#, just like laminate hardwood, granite countertops in the kitchen, hell I can do an IKEA kitchen I like their designs, mosaic tile backsplash, don't even know what all is entailed is redoing the stairs, maybe look at replacing those pillars in the front of the house with something straight square, paint the window shades white, house has a steel fence so would replace that with wood. I want one of those spa inspired enclosures and will definitely have to replace the vanity in the master bath.

Again, I will be doing most of the work myself and with my dad.

20 stacks should do it, right?? 30? 40?

 

[i am that dude]

Also, what are the pitfalls of buying a house not "move in ready?" Well, technically it is, but in terms of my own standards for what I want it isn't. Assuming I just want kind of mid level, average replacements about how much more would I need to throw into it. I don't need it to be some MTV Cribs %*@#, just like laminate hardwood, granite countertops in the kitchen, hell I can do an IKEA kitchen I like their designs, mosaic tile backsplash, don't even know what all is entailed is redoing the stairs, maybe look at replacing those pillars in the front of the house with something straight square, paint the window shades white, house has a steel fence so would replace that with wood. I want one of those spa inspired enclosures and will definitely have to replace the vanity in the master bath.

Again, I will be doing most of the work myself and with my dad.

20 stacks should do it, right?? 30? 40?

 

[j4ck]

go ahead.

 

[remarqable23]

I would NEVER buy a house near a school no matter how good the deal is, personally.

 

[remarqable23]

I would NEVER buy a house near a school no matter how good the deal is, personally.

 

[Betonblck]

Originally Posted by I AM THAT DUDE

Also, what are the pitfalls of buying a house not "move in ready?" Well, technically it is, but in terms of my own standards for what I want it isn't. Assuming I just want kind of mid level, average replacements about how much more would I need to throw into it. I don't need it to be some MTV Cribs %*@#, just like laminate hardwood, granite countertops in the kitchen, hell I can do an IKEA kitchen I like their designs, mosaic tile backsplash, don't even know what all is entailed is redoing the stairs, maybe look at replacing those pillars in the front of the house with something straight square, paint the window shades white, house has a steel fence so would replace that with wood. I want one of those spa inspired enclosures and will definitely have to replace the vanity in the master bath.

Again, I will be doing most of the work myself and with my dad.

20 stacks should do it, right?? 30? 40?

If the plumbing and electrical is ok, and there is no structural damage, the repairs really don't seem like that much. 


63K sounds too low though for the damage listed.  I'd be wary that there is more wrong with it. 

 

[Betonblck]

Originally Posted by I AM THAT DUDE

Also, what are the pitfalls of buying a house not "move in ready?" Well, technically it is, but in terms of my own standards for what I want it isn't. Assuming I just want kind of mid level, average replacements about how much more would I need to throw into it. I don't need it to be some MTV Cribs %*@#, just like laminate hardwood, granite countertops in the kitchen, hell I can do an IKEA kitchen I like their designs, mosaic tile backsplash, don't even know what all is entailed is redoing the stairs, maybe look at replacing those pillars in the front of the house with something straight square, paint the window shades white, house has a steel fence so would replace that with wood. I want one of those spa inspired enclosures and will definitely have to replace the vanity in the master bath.

Again, I will be doing most of the work myself and with my dad.

20 stacks should do it, right?? 30? 40?

If the plumbing and electrical is ok, and there is no structural damage, the repairs really don't seem like that much. 


63K sounds too low though for the damage listed.  I'd be wary that there is more wrong with it. 

 

[i am that dude]

Originally Posted by ReMarqable23

I would NEVER buy a house near a school no matter how good the deal is, personally.

really? Why not? I live in Lawton OK by the way. It's not a lot of crime at all, particularly in that neighborhood. What crime we do have, literally 90+% of it is focused in 2 areas, 2 different streets and even those are a picnic compared to many cities. Thank you for your insight by the way. Also, house has been on the market forever so I might even be able to get more off the price. They just took $7,000 off of it last week to bring it to it's current price. It's bank owned repo I believe

 

[i am that dude]

Originally Posted by ReMarqable23

I would NEVER buy a house near a school no matter how good the deal is, personally.

really? Why not? I live in Lawton OK by the way. It's not a lot of crime at all, particularly in that neighborhood. What crime we do have, literally 90+% of it is focused in 2 areas, 2 different streets and even those are a picnic compared to many cities. Thank you for your insight by the way. Also, house has been on the market forever so I might even be able to get more off the price. They just took $7,000 off of it last week to bring it to it's current price. It's bank owned repo I believe

 

[stacksblowinpurp]

sounds like u gotta deal OP and it being next to a school will appeal 2 families with kids in the future if u decide 2 move on and eventually sell

 

[stacksblowinpurp]

sounds like u gotta deal OP and it being next to a school will appeal 2 families with kids in the future if u decide 2 move on and eventually sell

 

[noblekane]

you could probably work the price down more if you say its been on the market forever

 

[noblekane]

you could probably work the price down more if you say its been on the market forever

 

[topherr]

no central air? Pass.

 

[topherr]

no central air? Pass.

 

[fulltech]

if you end up getting the house, congrats  

 

[fulltech]

if you end up getting the house, congrats  

 

[juicy j 32]

It looks like you can create a lot of value here. 63k is dirt cheap for a house. Look up the address on zillow.com to see what their estimate of the houses value is and also look at the tax records to see what the county has its value listed for.

I would also ask the realtor for comps on the property and their professional opinion on if it is a deal or not. A red flag would definitely be that it has been sitting on the market for a while and the price was just reduced, so try and find out why this happened.

Other than that it looks like a deal. Houses in most areas have declined back to where they were in 2002. So your house could depreciate a little, but 63k is so cheap I don't think it would make a big difference.

 

[juicy j 32]

It looks like you can create a lot of value here. 63k is dirt cheap for a house. Look up the address on zillow.com to see what their estimate of the houses value is and also look at the tax records to see what the county has its value listed for.

I would also ask the realtor for comps on the property and their professional opinion on if it is a deal or not. A red flag would definitely be that it has been sitting on the market for a while and the price was just reduced, so try and find out why this happened.

Other than that it looks like a deal. Houses in most areas have declined back to where they were in 2002. So your house could depreciate a little, but 63k is so cheap I don't think it would make a big difference.

 

[roc4life24]

go for it. good life experience right here. learning on the fly >>>>>*

get a city inspector or a professional to take a look of course

 

[roc4life24]

go for it. good life experience right here. learning on the fly >>>>>*

get a city inspector or a professional to take a look of course

 

[cronicmolemolereturns]

What if someone else from NT buys the house because you posted it? How mad would you be?