Renovating House vs New Mobile Home Hello, I'm hoping this…
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Renovating House vs New Mobile Home
Hello, I'm hoping this is the correct place for a question like this. I'm looking for advice on what would be the better financial move.
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I inherited my grandfather's house and land (4 acres) about a year ago. The house was actually a feed store that he bought and moved onto the property in 2001. My grandfather was renting the house out until right before he passed. When my fiancee and I moved in, we found out that the house was completely wrecked by the tenants.
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When we started to try to fix the major problems, all we did was find more problems. Structural issues, mold in most of the walls, floors sinking in, you name it. Also, because of the house being a feed store previously, the electric is ran in an odd way. All of the lights in the house are controlled by 8 switches by the front door. The roof recently began leaking when it rains heavily - water runs down the interior walls. It feels like everywhere we look is a gigantic issue and we're feeling overwhelmed. Getting things done professionally isn't an option. I'm 99% sure none of this wiring is up to code, and the cost of a rewire would knock out all of our money. The roof would cost even more, and there would still be so much more to be done if we were ever able to get that done.
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Should we just call the home a loss? We're completely fine with a double wide trailer, we just don't want to go that route if it wouldn't be a wise financial decision. I guess we're just looking to see what others would do in our situation. Anyone here ever gone through a similar situation? Thanks to anyone who takes the time to throw some advice our way!
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#finance
source
Hello, I'm hoping this is the correct place for a question like this. I'm looking for advice on what would be the better financial move.
​
I inherited my grandfather's house and land (4 acres) about a year ago. The house was actually a feed store that he bought and moved onto the property in 2001. My grandfather was renting the house out until right before he passed. When my fiancee and I moved in, we found out that the house was completely wrecked by the tenants.
​
When we started to try to fix the major problems, all we did was find more problems. Structural issues, mold in most of the walls, floors sinking in, you name it. Also, because of the house being a feed store previously, the electric is ran in an odd way. All of the lights in the house are controlled by 8 switches by the front door. The roof recently began leaking when it rains heavily - water runs down the interior walls. It feels like everywhere we look is a gigantic issue and we're feeling overwhelmed. Getting things done professionally isn't an option. I'm 99% sure none of this wiring is up to code, and the cost of a rewire would knock out all of our money. The roof would cost even more, and there would still be so much more to be done if we were ever able to get that done.
​
Should we just call the home a loss? We're completely fine with a double wide trailer, we just don't want to go that route if it wouldn't be a wise financial decision. I guess we're just looking to see what others would do in our situation. Anyone here ever gone through a similar situation? Thanks to anyone who takes the time to throw some advice our way!
​
#finance
source
| 3,000 mlx | |
| 3 | |
| 0 |