Thursday 31 March 2016

Risks Are Worth Investigating

Okay, I don’t meant to run out and be reckless or necessarily do risky things, but giving a risky move a looksee is worthwhile. Why? Because it is by taking risks that you can get much further ahead.

I have been investigating the real estate market in my area, just so as to educate myself of what is out there, where it is and how much people want. 

Yesterday I stumbled across what looks like a steal of a deal, as in “Too good to be true.” This is where most people turn and walk away, but this is where I nudge closer to take a closer look.

The property is six acres with a creek and couple ponds lazily winding through it. It is near the mountains with a fantastic view. It is out in the country, yet still in commuting distance to the city and work. 

The price is fantastic, as in way cheap, and there is a house on it, a nice house, beautiful house with large windows. So what’s the problem, right?

Well, the add says that the house “needs work” and the property is being sold at the land value alone. The problem is that in the pictures the house looks fine, so this makes me wonder why this is and curious to know.

My best guess is that this was flood damaged or some other structural damage. If it was flood damaged and it is on a floodplain then I am outta here. 

If it is not flood damaged or not on a floodplain but the house is still hooped, then perhaps it is worth it. If I got the property for even less than they are asking, I might be able to afford to build a new house by salvaging as much stuff (windows, appliances, fixtures, counters, etc) from the existing house. 

There are many questions still to be answered and I will not be foolish or rush in. I will not dismiss something outright just because it looks hard or risky. It may yet be worth it, or it may not; I will never know unless I investigate the risk . . . cautiously of course.

As always: Keep your head up, your attitude positive and keep moving forward!

1 comment:

  1. Check it out by all means! Been following the ups and downs and understand the struggle. I had been thinking maybe you could afford some vacant land and park your trailer on it. With power, you've got heat right? Failing that, I am for the cheap bastard option, though not sure I could follow it perfectly myself. Good luck!