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

Originally Posted by 4318MichaelJohnson4318

whats the selling prices for other homes in the area? even if you fix it up the area can limit its potential price.
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true, even the most extensive renovations and upgrades will not see a return on investment if the location doesn't justify it.  it's called "overbuilding" or "overimproving."  that doesn't mean you shouldn't make the improvements that you want to... just be mindful that they don't always pay for themselves when you flip.
 
Originally Posted by 4318MichaelJohnson4318

whats the selling prices for other homes in the area? even if you fix it up the area can limit its potential price.
Click to expand...
true, even the most extensive renovations and upgrades will not see a return on investment if the location doesn't justify it.  it's called "overbuilding" or "overimproving."  that doesn't mean you shouldn't make the improvements that you want to... just be mindful that they don't always pay for themselves when you flip.
 
Originally Posted by Dirtylicious

new floors
new kitchen
new windows
new bathroom
expand/fix front porch*
dormers for the upstairs to create more space*
landscaping

*optional

that's a big list.

even with the cheaper cost of labor out there.. you're prob looking at a good chunk of change
Click to expand...

agreed.  and, you really need to know what you're doing.  i think it's easy for first-time homebuyers to start dreaming big about how to make that first house "their own."  but all it usually takes is one flooring project or kitchen remodel and they're ready to put the other projects on hold.  it really is a lot of work.  and it's more expensive if you have someone else do it.
  
 
Originally Posted by Dirtylicious

new floors
new kitchen
new windows
new bathroom
expand/fix front porch*
dormers for the upstairs to create more space*
landscaping

*optional

that's a big list.

even with the cheaper cost of labor out there.. you're prob looking at a good chunk of change
Click to expand...

agreed.  and, you really need to know what you're doing.  i think it's easy for first-time homebuyers to start dreaming big about how to make that first house "their own."  but all it usually takes is one flooring project or kitchen remodel and they're ready to put the other projects on hold.  it really is a lot of work.  and it's more expensive if you have someone else do it.
  
 
Originally Posted by wawaweewa

If you want to renovate that the correct way it'll run you 60-70k at the minimum I would think. The kitchen alone will run 25-30k.
Click to expand...

You been watching too much Food Network
laugh.gif
 
Originally Posted by wawaweewa

If you want to renovate that the correct way it'll run you 60-70k at the minimum I would think. The kitchen alone will run 25-30k.
Click to expand...

You been watching too much Food Network
laugh.gif
 
I personally wouldn't. The house I live in now is OLD, but got fixed up to look nice before I rented and now that I've been in it for a few years, all kinds of problems are starting to arise. The house looks nice, VERY nice, but everything they hid eventually came out.

My point, they took the shortcut, because it would've cost a grip to address the real issues. If you do the research you'll probably find that you're going to be paying way more than you're thinking now. In the meantime (if you buy the house), where will you live? You plan on living on basically a construction site?
 
I personally wouldn't. The house I live in now is OLD, but got fixed up to look nice before I rented and now that I've been in it for a few years, all kinds of problems are starting to arise. The house looks nice, VERY nice, but everything they hid eventually came out.

My point, they took the shortcut, because it would've cost a grip to address the real issues. If you do the research you'll probably find that you're going to be paying way more than you're thinking now. In the meantime (if you buy the house), where will you live? You plan on living on basically a construction site?
 
Originally Posted by Cronicmolemolereturns

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

Who would do that? I don't know that we have any nters here, other than Memphis has in laws in town. That'd be a lot of money to spend just to spite me. Although I guess if they wanted to, they could just property manage it out.

Dude mentioned townhouses and condos. There's a few decent ones out here, but they are all pretty old and at the end of the day to me that's still too much like an apartment with neighbors right on top of you, no room to grow, and they all do #*$%ty jobs of exterior maintenance, and in the case of the ones that are managed you have HOA fees and aren't paying for much other than maybe a pool, some street lights, and bushes and you're also limited on renovations you can make.

I can get a new construction to about 10 yrs old for 100-110 a sq ft (1500 sq f for 150k).

I live in some overpriced apartments now ( http://www.lawtonapts.com ). Renting prices have been gauged something criminal because of the Army base, Fort Sill. They know soldiers get that BAH (housing allowance) and got money to pay whatever so they just raising prices for no reason. Places that rented for like 400 when in 05 got the nerve to be 800 now with no renovations or new services to justify it. Plus they throwing these new ones up too fast taking shortcuts, like no insulation, so I get woken up multiple times all hours of the night because yo know they go to PT at like 5AM so I hear people storming up and down the stairs, cars in the parking lot, etc.

I actually like this one a lot. I've been tracking it for a while. It's on the West side of town close to mom's. 2200 sq ft + deck and 1/2 acre and modern look inside and out for 134k, 1 car garage instead of 2 but I can work with it. Thanx everyone who replied

130021-2.jpg


http://www.homefinderlawt...0000&maxPrice=150000

This one is a foreclosure too, not far from these duplexes I used to stay in. It's huge and has been vacant forever, like the grass is 10ft tall and everything. Don't know what it's deal is, but 123k for 2400sq ft is ridiculous in Turtle Creek. It's pretty suddity of a neighborhood outside of the first 2 streets where the duplexes and quadriplexes are. I'd be closer to work on Fort Sill, but still all the way cross town from the folks house.
http://www.homefinderlawt...h-St/13325011/?index=137

I don't know. I need to get in gear and get back in touch with my bank, AAA, and a realtor. I just wanted to wait until I am firmly in the market. Because them dudes are OD pushy. Like even every time I log in to any of their sites to view properties, after I logoff they start blowing up the phone.
 
Originally Posted by Cronicmolemolereturns

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

Who would do that? I don't know that we have any nters here, other than Memphis has in laws in town. That'd be a lot of money to spend just to spite me. Although I guess if they wanted to, they could just property manage it out.

Dude mentioned townhouses and condos. There's a few decent ones out here, but they are all pretty old and at the end of the day to me that's still too much like an apartment with neighbors right on top of you, no room to grow, and they all do #*$%ty jobs of exterior maintenance, and in the case of the ones that are managed you have HOA fees and aren't paying for much other than maybe a pool, some street lights, and bushes and you're also limited on renovations you can make.

I can get a new construction to about 10 yrs old for 100-110 a sq ft (1500 sq f for 150k).

I live in some overpriced apartments now ( http://www.lawtonapts.com ). Renting prices have been gauged something criminal because of the Army base, Fort Sill. They know soldiers get that BAH (housing allowance) and got money to pay whatever so they just raising prices for no reason. Places that rented for like 400 when in 05 got the nerve to be 800 now with no renovations or new services to justify it. Plus they throwing these new ones up too fast taking shortcuts, like no insulation, so I get woken up multiple times all hours of the night because yo know they go to PT at like 5AM so I hear people storming up and down the stairs, cars in the parking lot, etc.

I actually like this one a lot. I've been tracking it for a while. It's on the West side of town close to mom's. 2200 sq ft + deck and 1/2 acre and modern look inside and out for 134k, 1 car garage instead of 2 but I can work with it. Thanx everyone who replied

130021-2.jpg


http://www.homefinderlawt...0000&maxPrice=150000

This one is a foreclosure too, not far from these duplexes I used to stay in. It's huge and has been vacant forever, like the grass is 10ft tall and everything. Don't know what it's deal is, but 123k for 2400sq ft is ridiculous in Turtle Creek. It's pretty suddity of a neighborhood outside of the first 2 streets where the duplexes and quadriplexes are. I'd be closer to work on Fort Sill, but still all the way cross town from the folks house.
http://www.homefinderlawt...h-St/13325011/?index=137

I don't know. I need to get in gear and get back in touch with my bank, AAA, and a realtor. I just wanted to wait until I am firmly in the market. Because them dudes are OD pushy. Like even every time I log in to any of their sites to view properties, after I logoff they start blowing up the phone.
 
Originally Posted by Mr718

Originally Posted by wawaweewa

If you want to renovate that the correct way it'll run you 60-70k at the minimum I would think. The kitchen alone will run 25-30k.
Click to expand...

You been watching too much Food Network
laugh.gif
Click to expand...
Countertops/cabinets/flooring/appliances/labor  will run you EASILY about 25-30k....and that's on the low end. 

My kitchen was quoted at 26k without the appliances. 
 
Originally Posted by Mr718

Originally Posted by wawaweewa

If you want to renovate that the correct way it'll run you 60-70k at the minimum I would think. The kitchen alone will run 25-30k.
Click to expand...

You been watching too much Food Network
laugh.gif
Click to expand...
Countertops/cabinets/flooring/appliances/labor  will run you EASILY about 25-30k....and that's on the low end. 

My kitchen was quoted at 26k without the appliances. 
 
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