I don’t know. I keep thinking about what the site said. Or is the site super old? It says the arena is really new. If that’s the case, dang, you would have to spend a fortune on the structure (new–which is pretty comparable) and then getting the footing right (unless the footing sucks now). Did the arena get damaged in the fire, too?
doesn’t mean it can’t have a decent little kitchen for the occupant of the spare ‘bedroom’s’ use
just call it a den with wet bar (and bath for convenience) …just a name game
[QUOTE=Velvet;8804409]
I don’t know. I keep thinking about what the site said. Or is the site super old? It says the arena is really new. If that’s the case, dang, you would have to spend a fortune on the structure (new–which is pretty comparable) and then getting the footing right (unless the footing sucks now). Did the arena get damaged in the fire, too?[/QUOTE]
Luckily the arena was not damaged. It is around 8 years old. You are correct, we would never be able to replicate THAT arena on another property, it would cost way too much. Honestly, unless we buy a property where an indoor already exists, I doubt we would ever put one in. I would have a hard time justifying the cost for just me. I can easily justify the cost of an outdoor.
That is part of the reason I want to make sure I’m not “blinded by the indoor” on this property. But I don’t think I am.
[QUOTE=clanter;8804412]
just call it a den with wet bar (and bath for convenience) …just a name game[/QUOTE]
See… that is exactly the kind of thinking I need. I get stuck in black & white. If we go down the road of classifying the existing house as a guesthouse and they won’t approve the variance for a kitchen. There are no restrictions against a den with a well appointed wet bar. 
[QUOTE=clanter;8804412]
just call it a den with wet bar (and bath for convenience) …just a name game[/QUOTE]
Leave it to Clanter to find an oddball solution, how nice, that may just work!
[QUOTE=Kodidog763;8803704]
lol - I wish money was burning a hole in my pocket. There are a few things that make this situation unusual. The house is priced very competitively, but has an as-is clause. That makes it harder for a typical buyer, so the seller has to choose between getting less for the property, or possibly waiting quite a while for a buyer that can buy as-is. Our offer is basically the land price (so the fencing, indoor, outdoor, and existing house are “free”).
Because DH is a contractor, building a house is a little cheaper for us because he doesn’t need to profit from building our own home. We already have plans (it’s a house DH has built before), so we don’t have that added stress.[/QUOTE]
This is all very interesting information.
Finding another property with a ‘ready’ house & horse amenities will not only be much more pricey, but because of the higher price I would guess you’ll feel you have less flexibility to spend on making changes later.
If you are getting this at land cost, in your shoes I would look on it as land. You can build what you like and do it your way. Land with an indoor thrown in for free?
In that situation, for comparables I would use other land lots, not tracts with structures in place. Because that is basically what this property amounts to. Try that view and see if it seems valid. The trouble & expense of removing the house that is on it would offset having the indoor arena (hopefully - or does it?). Does that work out numbers-wise, does it make sense for you?
Would it be easier/better to just buy land and build? As long as building is part of the consideration anyway, because of the property you are considering now.
The contractor husband is helpful, of course, but on the other hand you don’t want to get something that will need so much of his time and oversight that it interferes with his income work. Unless that is part of the plan, financially as well as structurally.
On the one hand, the property has some major drawbacks, if the as-is condition is a concern. On the other hand, those drawbacks are exactly what make it a price opportunity for a buyer. A buyer that knows how to handle it, that is. As-is = do everything the way you want it done.
It can be difficult when one hears a clock ticking in the background. But if you do have some time, no need to rush this decision. And it sounds like this property may be there for you for some time to come, if no one else is looking at it seriously. (Although of course that can change at any moment.)
Also consider why you are hesitating. Is it because you are a naturally diligent person who needs to be sure that all options and possibilities have been considered, and this can be shown to be the best one? Is it because you are concerned about making a mistake - one that could affect your & your husband’s lives? Or is it because something is telling you ‘not this one’? Knowing that could help you take your hesitation & concerns more seriously - or less seriously, depending on your own inner assessment.
All that said … a large, well-built indoor arena that I would probably not have otherwise would blind me as well. I might buy it and live in one end of the indoor while figuring out what to do with the rest of it. :lol:
Hmmm… So it appear they may have been using us to gain some leverage with another buyer. We had made an offer a while ago. They countered, but it was just out of range that would allow us to build a new house, so we declined and wished them well.
They approached us last week asking what our best offer was because they were frustrated with another possible buyer, who wouldn’t accept the “as-is” clause. We provided a range, based on being able to inspect the house to determine if there were any “new” problems since we were last in it. They asked if we could provide them with pre-approval information, which we did, and they said they would get back to us today. Tonight I got a text saying their attorney is showing the house to the other buyers next Tuesday and if that falls apart, they will let us know.
Oh well. If it was meant to be, it would have happened.
I would not be pleased about that. What a time-wasting imposition on you! IMO :no:
If the other buyer doesn’t come through and the seller is left with a property that is still just sitting there, unwanted … and you are interested again … if it were me, that little gambit would cost them. I would go down on what I was willing to pay. If that didn’t suit 'em, as you say … ‘oh well’.
[QUOTE=OverandOnward;8804761]
I would not be pleased about that. What a time-wasting imposition on you! IMO :no:
If the other buyer doesn’t come through and the seller is left with a property that is still just sitting there, unwanted … and you are interested again … if it were me, that little gambit would cost them. I would go down on what I was willing to pay. If that didn’t suit 'em, as you say … ‘oh well’. :)[/QUOTE]
Kind of how I’m feeling. It was a waste of my time, and the time of our mortgage person and investment banker.
Here is an article on looking at land for horses that seems interesting:
As a friend in real estate keeps saying, never fall in love with a place until all is signed and it is yours, because before that is done, you just never know what may come up, on either end.
Hoping everything resolves for the best for you either way, if you get it or walk away from it.
[QUOTE=Bluey;8804594]
Leave it to Clanter to find an oddball solution, how nice, that may just work![/QUOTE]
spent ten years as vice chairman on Planning & Zoning commission and was a member of several regional boards
[QUOTE=clanter;8804792]
spent ten years as vice chairman on Planning & Zoning commission and was a member of several regional boards[/QUOTE]
The voice of experience then.
Gut the house and rearrange the layout? The flooded basement would send me running, but my husband isn’t a contractor.
I would have HATED sharing a kitchen with my MIL–unless she did all the cooking and cleaning up.
Just read your footnote–if they do get back to you, I hope you’ll lower your offer.
AND what does Hubby want? Mine wanted Pecan trees (its a former commercial grove), Shop - I dont know, has about 1 million square feet of out buildings?, pool - check, close to his Mom in nursing home - 2 miles, check. Childhood friends here. check. Close to Beach - check, Blueberry bushes, check, peaches, apple trees, check, est. grape vines, check!!! Neighbor that MOWS MY LAND SO WE ALL LOOK NICE AT THE SAME TIME. CHECK! Tractors, mowers. riding lawn mowers, yappy dogs, my GOD how could I turn down the Quirky house?
So look at his wishes too,but it is hard to find good horse property.
To me, I can live with this house, I just eat and sleep here. Im a Nurse, so Im too exhausted to care about it much.
OH! A giant RAT just perched on my porch fascia, they love Pecans and are the only real problem I have. Will get some 22 rat shot and prep for the Zombie Apocalypse.
Of course the armed invasion wasn’t my favorite part, but that’s in the past right?
[QUOTE=allons-y;8809349]
AND what does Hubby want? [/QUOTE]
In general DH wants to find property in the same general area that we currently live in, enough space to build the shop of all shops, some privacy (so that our million snow removal trucks aren’t so visible), and room to run the dogs. With regards to this property, DH wanted to get it at a price that allows us to build a new house, shop of all shops, and a barn within our budget. As for the existing house, he would have preferred to keep it for my mom.
I suspect the other buyers will make the purchase, so we’ve moved on. Looked at a house on Saturday AM. Neither of us loved the location, but could live with it, but we’d end up with less pasture for the horses than we have now, and that is a deal-breaker.
I’d say be really careful about having house that isn’t going to drain your finances. We all say that all we want is a nice barn but consider:
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If you want to sell the house for most people will be your selling point.
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Cosmetic issues are easy to solve but structural issues can derail everything.
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If you suffer serious injury or illness you could get stuck in that house for a long time.
Good luck
Just to be clear - we had no intention of ever living in that house. The plan was always to build a new house for us. The question for me was whether it was worth it to try and work around city ordinances to keep the existing house for my mother, since the house could be salvaged.
Good luck, I hope you find your dream place soon!
[QUOTE=Kodidog763;8809832]
Just to be clear - we had no intention of ever living in that house. The plan was always to build a new house for us. The question for me was whether it was worth it to try and work around city ordinances to keep the existing house for my mother, since the house could be salvaged.[/QUOTE]
(city requires over 400 feet of road frontage, and it looks like this property has just under 400 feet of road frontage).
put in a 400 ft private road … talk to the post office about getting a new address
[QUOTE=clanter;8810405]
put in a 400 ft private road … talk to the post office about getting a new address[/QUOTE]
Hmmm… There is either a private road, or I guess it could be a shared driveway, for this property and the 2 neighbors. There is definitely more than 400’ of frontage on that road/driveway, as it winds around over half of the property.
If the other buyers pass, I think we have a couple of angles to try in order to keep the house.
