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Started By
Message
Buying old house for a camp
Posted on 11/27/23 at 9:42 am
Posted on 11/27/23 at 9:42 am
I own vacant hunting land in SW MS and have been slowly making plans to make a campsite. A neighbor about a mile away has recently contacted me about selling their current home, as they’re moving to a relative’s house nearby. I’m strongly considering purchasing it.
The house im considering buying is 50 years old and is currently being lived in. Conventional foundation. It’s nothing spectacular but would more than meet my needs. I actually see the potential to add value with some cleanup and updated finishes if I wanted. At the same time, I don’t want something that I’m going to lose my shirt on if I decide to sell it in a few years. There is property adjacent to mine that I’d rather have should it be available in the future.
The 2 houses I’ve bought have been in subdivisions with all the normal expectations for condition in place, so this is new to me.
I am having a foundation inspection. Are these types of houses in the country usually sold as-is or are they expected to pass inspections with minimal issues? Any other major showstoppers I should think about? They’re on county water and have a septic system. Tia
The house im considering buying is 50 years old and is currently being lived in. Conventional foundation. It’s nothing spectacular but would more than meet my needs. I actually see the potential to add value with some cleanup and updated finishes if I wanted. At the same time, I don’t want something that I’m going to lose my shirt on if I decide to sell it in a few years. There is property adjacent to mine that I’d rather have should it be available in the future.
The 2 houses I’ve bought have been in subdivisions with all the normal expectations for condition in place, so this is new to me.
I am having a foundation inspection. Are these types of houses in the country usually sold as-is or are they expected to pass inspections with minimal issues? Any other major showstoppers I should think about? They’re on county water and have a septic system. Tia
This post was edited on 11/27/23 at 9:49 am
5
Posted on 11/27/23 at 11:43 am to turkish
Each county will be different, but usually in rural counties inspections aren't very detailed and they'll let you get by without looking much into the septic system. As long as the foundation isn't too jacked up, I'd jump on it. More than likely it will be sold "as is."
Posted on 11/27/23 at 11:56 am to greenbean
Also trying to manage the sellers feeling like I’m being too ornery about a 50+ year old house. Foundation, significant active termites are the things that come to mind that I cannot live with or repair.
Posted on 11/27/23 at 12:09 pm to turkish
Just get a good inspection. Everything is considered as-is unless you want to negotiate it after the inspector has gone through.
I wouldn't feel bad about being ornery unless you were getting a killer deal on it.
Whatever you let slide now will be what you have to live with later. I'd ask money off for any needed repairs the inspector finds.
If you're worried about losing money on it, purchase price and inspection is the best place to insure you don't.
I wouldn't feel bad about being ornery unless you were getting a killer deal on it.
Whatever you let slide now will be what you have to live with later. I'd ask money off for any needed repairs the inspector finds.
If you're worried about losing money on it, purchase price and inspection is the best place to insure you don't.
Posted on 11/27/23 at 12:13 pm to turkish
quote:
re these types of houses in the country usually sold as-is or are they expected to pass inspections with minimal issues?
"As-is" and inspections aren't mutually exclusive. Always get an inspection, especially if it is being sold as is. That way you know what potential problems you may be dealing with.
Posted on 11/27/23 at 12:18 pm to turkish
Make sure it is termite free
Posted on 11/27/23 at 7:21 pm to wickowick
Look at wiring to see if there are grounds and if the wire is aluminum and if its just the cloth or knob and tube.
What size is the service panel and what type of breaker panel. That age would be a place with no grounds and a 100 amp federal pacific (also called fire pacific) and some insurance companies won't insure them anymore. Breakers are high as shite.
Check the sewer lines. Probably cast iron. For a few hundred I'd get a plumber to run a camera through them to make sure they have not collapsed.
If so there are options but they are all expensive. My broken line repair starts tomorrow morning.
If paneling there is no insulation so think on that as well.
What size is the service panel and what type of breaker panel. That age would be a place with no grounds and a 100 amp federal pacific (also called fire pacific) and some insurance companies won't insure them anymore. Breakers are high as shite.
Check the sewer lines. Probably cast iron. For a few hundred I'd get a plumber to run a camera through them to make sure they have not collapsed.
If so there are options but they are all expensive. My broken line repair starts tomorrow morning.
If paneling there is no insulation so think on that as well.
Posted on 11/27/23 at 9:30 pm to thejudge
If the house is 50ish years old like you say then it was built in the 70’s. Sewer should be pvc and electrical maybe ok. Just have it inspected by someone who knows what he’s doing
Posted on 11/27/23 at 9:52 pm to Trytoon
quote:
If the house is 50ish years old
You are correct. I was thinking 1950s..
They still did run cast iron in the 70s just they pretty much were done with the clay field runs and tie ins to the road if sewer is available.
Cast iron if maintained and descaled periodically so no buildup sits and rusts then it will last a very long time
Posted on 11/28/23 at 10:35 am to turkish
You will have to self insure IF there have been no electrical updates in the last 25 years. Probably will only be able to insure at ACV if it has window units.
Posted on 11/28/23 at 6:37 pm to KemoSabe65
What do window units vs central AC have to do with insurability? I’m ignorant here.
Posted on 11/28/23 at 9:27 pm to turkish
CA get a favorable rate and loss settlement (replacement value) over window units (actual cash value) since the modeling for rate looks for a higher end dwelling.
Fire policy and separate GL will work but won’t have as much coverage.
Fire policy and separate GL will work but won’t have as much coverage.
Posted on 11/29/23 at 7:43 am to KemoSabe65
Interesting. I could see coverage of the actual HVAC equipment being different but I had no idea it caused a difference in coverage of the whole house.
Posted on 11/29/23 at 8:24 pm to turkish
How close is near by? If I can’t ride an ATV - No go.
Posted on 11/29/23 at 8:38 pm to Shut Up Mulllet
It’s about a mile. Smack dab in between 2 tracts I own. I routinely drive a tractor between the 2.
Posted on 11/29/23 at 9:00 pm to turkish
Any foundation issues should be obvious in a house that old. Sounds like a good setup. Hope it works out.
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