So I’m looking into buying my first house and in sort of tough spot trying to decide. I’m not your average bunker member who runs a 4.3 40 with 4% body fat that makes 7 figures a year so I’m limited in my budget.
As most know the market is stupid high right now especially in the Birmingham area. I have a pretty interesting option though. So my price range is prob between 160-180k. Been approved for higher but really don’t want to max the budget out. Also, have my grandparents old house in Trussville that’s being offered to me at a 2/3rds it’s current valued price which is 175k which would come out to around 115k. It’s livable but would need a ton of work and renovations. This house would 100% have the best value long term and me and my dad could do a lot of the work ourselves but as said it’s going to take a ton. When all said and done if done right grandparents house with land and everything would prob be worth between 250-275k.
Also, this house has a ton of family sentimental value as well. Grandfather was a bricklayer and built the house from the ground up by himself in the late 60s.
So basically my question is would it be smart to go that route especially for someone who has a newly started family trying to take on all of those renovations especially when you’re living in the middle of it?
As most know the market is stupid high right now especially in the Birmingham area. I have a pretty interesting option though. So my price range is prob between 160-180k. Been approved for higher but really don’t want to max the budget out. Also, have my grandparents old house in Trussville that’s being offered to me at a 2/3rds it’s current valued price which is 175k which would come out to around 115k. It’s livable but would need a ton of work and renovations. This house would 100% have the best value long term and me and my dad could do a lot of the work ourselves but as said it’s going to take a ton. When all said and done if done right grandparents house with land and everything would prob be worth between 250-275k.
Also, this house has a ton of family sentimental value as well. Grandfather was a bricklayer and built the house from the ground up by himself in the late 60s.
So basically my question is would it be smart to go that route especially for someone who has a newly started family trying to take on all of those renovations especially when you’re living in the middle of it?
