Have you/would you buy a house with the intention of scraping and rebuilding, but not immediately?
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Anonymous
| I'm thinking about a house which would fit our family for a little while, but is really crummy. The thought is that we could buy it now, live in it for a bit, with the intention of scraping it and rebuilding in the next year or so. Has anyone done this? Am I insane? |
Anonymous
| We are planning on doing this. But we actually found a home that is not at all crummy, in an awesome neighborhood with great schools and still at a price point that would allow us to save a lot and rebuild in a couple years. Not sure if we'll get the house (we put an offer down today), but we thought about it a lot and ran some numbers, and for us, it makes sense for a lot of reasons. I wouldn't live in a really crummy home with this plan - mainly because I fear if something goes wrong I'd either be stuck in a house I didn't feel like I could live in (bummer) or sell at a loss and be worse off than if I had pursued another plan (also a bummer). I think it really depends on the situation and your tolerance for compromise in terms of your living conditions, but no, I do not think you are crazy. |
Anonymous
| I think the crummy house would be really hard on your family - really crummy is so hard to do and so frusterating. |
Anonymous
| How crummy? I dont think I could do it. Is it safe? |
Anonymous
| We did this. Biggest problem was moving out, living elsewhere, and moving back with a young child after the huge remodel. |
Anonymous
| Yes it sucks . Might be better to buy in the neighborhood and either sell or rent the home when you are ready to move up. |
Anonymous
| yes. |
Anonymous
| Doing it now. Benefit is you can take time to design the house way you want it |