Buy an old farmhouse?

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Leemiller
Posts: 1049
Joined: Sat Jun 01, 2013 12:42 pm

Re: Buy an old farmhouse?

Post by Leemiller » Sun May 27, 2018 12:26 pm

Even some of the posters telling you to do this acknowledge how much time it takes to upkeep a property - two options you learn and do it yourself or pay someone to do it for you. We have a 1950s home and renovating it cost alot more time & money than we thought it would. For reasons that include custom sized doors and windows - yeah sometimes you replace old doors for things like fire resistance.

Have you had this place checked for lead based paint btw? I would assume this house will cost more in repairs, and you should consider whether it will be harder to sell in the future. Old homes have character and charm, but it comes at a cost.

You have 3x college tuition and an almost paid off house with a pool. Your kids have easy assess to others in the neighborhood. Hard to say if they will be happy playing in the backyard woods when older or if you will hear a lot about how bored they are and how they want to play with their friends.

ifish100
Posts: 19
Joined: Thu Jun 04, 2015 5:23 pm

Re: Buy an old farmhouse?

Post by ifish100 » Sun May 27, 2018 6:21 pm

I read the original OP post again. It seems like there are really two things being combined, and perhaps separating them could result in a better decision.
1) Moving into an old house in the country
2) Moving to a house in the country.

I grew up on a farm, and still own it. I now live a suburban life style in town. I suggest if you want the advantages you listed, no close neighbors etc... if you could decouple 1 and 2, one thing you can save a lot of time and money with is buying or building a modern house on a 15 acre property, that way you get the country aspects you are looking for without the house headache. You will be able to spend more time with your kids, and if you sell it can probably get more out of it. You will still have the property maintenance in the country. Fun to get a little tractor and tinker with that, but not have the house consume all of your time. There are a number of other things to consider that I thought of reading through the posts, but I think it might help to consider this angle.

Many times in a rural area you can find abandoned house locations and actually have a yard with mature trees etc, that you can build on, and avoid the headache of an old house. It sounds like it is really more the country lifestyle you are looking for instead of the old house aspect.

health teacher
Posts: 302
Joined: Sun Apr 06, 2014 7:27 am

Re: Buy an old farmhouse?

Post by health teacher » Sun Jun 03, 2018 3:18 pm

Update here:

We verbally negotiated down to 245k and we are in the process of getting it in writing to make the purchase contingent on inspections.

Thanks for both sides of input and any new input regarding inspections is appreciated.

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