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Flipping houses? or flipping out?


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#1 tweidman OFFLINE  

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Posted January 23, 2011 - 11:27 PM

After 5 years of renovation on our current house my wife found another property that she likes. We currently have 3 acres and a nice house built in 1988. I have worked hard updating and remodeling every room in our 3300 sq ft house, except the powder room on the main floor.

The property my wife found today, and loves, is 28acres with a pond, fenced pasture, and an old 1920's brick farm house. The farm house is smaller and not nearly as nice as our current house. It would be fine to live in, but ultimately we would need to remodel most of it. The really nice part is that it has a 30 x 40 garage/shop with power and water. It also has a 30 x 45 machine shed with a concrete slab, although some of that would need to converted to stalls for my daughters horse, that we currently board.
I have mixed feeling about a possible move ... again. The house before our current house was also a ton of work, and we left it behind after 5 years. I did not think that we might be doing that again after another 5 years....
Any one have any similar stories or thoughts? :confuse:

#2 Bolens 1000 ONLINE  

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Posted January 24, 2011 - 05:55 AM

Guess it all comes down to if you want to start over again and remodel..... That 30X 40 Garage does sound kind of nice:rolleyes:

#3 mjodrey OFFLINE  

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Posted January 24, 2011 - 06:01 AM

that 30x 40 garage does sound kind of nice:rolleyes:





ditto !!

#4 awol OFFLINE  

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Posted January 24, 2011 - 07:14 AM

Todd, I would sit down with the missus and go over the needs of the family. The 3300sq ft home sounds like a very nice home with 3 acres. Starting over with all the work that would be involved to reno the new house would be a big task. It would be nice to have the 28 acres for your daughter’s horse and save the boarding cost but at what expense. If the cost and expense is justifiable, then I would, if not then stay where you are. Just my 2 cents!!:smile1:

#5 NUTNDUN OFFLINE  

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Posted January 24, 2011 - 09:02 AM

The farmette with the acreage sounds great but you would have to sit down and justify the expenses and decide if you want to renovate another place or not. There are a lot of factors involved. Plus you would have to sell your current house too in not such a great market but I would think down your way the market would still be pretty decent because of government work.

#6 tweidman OFFLINE  

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Posted January 24, 2011 - 09:31 AM

The farmette with the acreage sounds great but you would have to sit down and justify the expenses and decide if you want to renovate another place or not. There are a lot of factors involved. Plus you would have to sell your current house too in not such a great market but I would think down your way the market would still be pretty decent because of government work.


I have been thinking about it this way.... ultimately our long term goal was to have a farmette. I would would be hard to let our existing house go, but as nice as our existing property is, it's not a farm. The other thing, on the expense side, we would be able to board a few horses, which would offset the higher expense of the property.
Certainly the updates and renovations would have to be stretched out over many years because of the cost.
I keep thinking of that awesome shop, it even has a seperate room off of the back that I could put my compressor in. It also has a chimney, you just need a wood or pellet stove to set in there.

#7 olcowhand ONLINE  

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Posted January 24, 2011 - 09:51 AM

Todd the way I see it, if a small farm is your ultimate goal, well, you're not getting any younger, so no time like the present. As I get older, the major reno's seem to get a lot harder, even if the job is smaller. How is the housing market where your current house is for selling? Any woodland for fire wood on the acreage? Sounds like a nice place. The shop sounds GREAT, plus the shed for various uses with mods. Hmmm.... and no cows.....when can I move in? :rofl2:

#8 tweidman OFFLINE  

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Posted January 24, 2011 - 01:05 PM

Todd the way I see it, if a small farm is your ultimate goal, well, you're not getting any younger, so no time like the present. As I get older, the major reno's seem to get a lot harder, even if the job is smaller. How is the housing market where your current house is for selling? Any woodland for fire wood on the acreage? Sounds like a nice place. The shop sounds GREAT, plus the shed for various uses with mods. Hmmm.... and no cows.....when can I move in? :rofl2:


You know, the "not getting any younger" comment did come to mind when thinking about the move. I keep thinking, if not now? when? I don't think I will want to be making the move when I am 60?
btw, the property did have cows...

#9 tweidman OFFLINE  

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Posted January 24, 2011 - 01:29 PM

Here is a pic of the house and shop
Posted Image

#10 grand OFFLINE  

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Posted January 24, 2011 - 04:55 PM

Very nice looking place Todd. Like Daniel said, we aren't getting any younger. That's one of the reasons we bought our current home. It does make a tough decision.

#11 FirefyterEmt OFFLINE  

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Posted January 24, 2011 - 05:25 PM

I like it! I say go for it, it sounds like it will suit your long term goals nice, and the brick house is a big plus if you ask me.

#12 olcowhand ONLINE  

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Posted January 24, 2011 - 06:30 PM

Sure is a nice well kept place! Love the garage & the nice wide drive. I'd bet most of the house has had the wiring updated, judging by how nice the place looks to have been cared for.

#13 tweidman OFFLINE  

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Posted January 24, 2011 - 06:39 PM

Sure is a nice well kept place! Love the garage & the nice wide drive. I'd bet most of the house has had the wiring updated, judging by how nice the place looks to have been cared for.


The drive actually narrows down just past the picture to about 12 feet. It's about 1000 feet long and all paved. :thumbs:

Here it is.... look Daniel, cows! They are not there anymore, old picture.

Posted Image

#14 tweidman OFFLINE  

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Posted January 24, 2011 - 06:41 PM

Here is the pond, this view is from the back porch....

Posted Image

One of the pastures....

Posted Image

#15 olcowhand ONLINE  

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Posted January 24, 2011 - 06:48 PM

Todd, after the added pics, I have to say you just gotta get that place! Beautiful land, house, garage, and secluded....you can do as you wish. No neighbors griping about your "stuff"! And Bluegill, Smallmouth Bass, and surely some Catfish to boot! In all appearances, this looks to be a great opportunity! All that would stop me is structural damage like termites that have gone too far, and that might not stop me if the price was right. BEAUTIFUL place!




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