Quote:
Originally Posted by Quabbinite
I guess I should clarify that our "cash" is actually tied up in the capital of our house and cars; i.e. we have no debt. Contingent on the sale of this home, we will buy this other home. Therefore, we have no ACTUAL cash for an inspection. A popular comment people are making is that if we can't afford $400 now, then we can't afford $20k later. No argument there! You're absolutely right.
We are examining several options and sources to get as good of an informed decision as we can. This house is 8 hours from where we live and we have 4+1 kids (due next month), so going back and forth is unrealistic.
Also, the house we're in right now easily needs $20k more worth of work, and so we're selling it cheaper, still with enough money left over to probably have around $20k cash when we move in to the new place. The bottom line is this: we can't afford to live where we are and for many other reasons, we're trying to get away from this and more toward country living.
It won't be much cheaper, but it will be cheaper and definitely safer. So we can take a hit on things like a smaller house on about 225 times more land with some different expenses as well as different necessary repairs and different kinds of problems as well as solutions.
Thanks for everyone's input. We will probably try to find a way to pay for a foundation expert and see if that costs less. The reason the inspections cost so much is because anyone from that area charges $100 just to get in their car and drive out there, but we'll see what we can come up with.
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Carp. I was hoping that you were actually in the area.
Okay, it is at this point that I think you might need to take a step back and pause for a moment, because you are almost buying blind here. This kind of purchase is so big, you either need to be able to do all the follow-up required, or you need to move to the area first, and
then buy.
This is especially true because this sounds as though it will take up all your assets, of most of them, anyways.
I understand that you and your family need a change, and it will be a big one, and I am not questioning that, but I think that, all together, this might be too big a change, but the only part I'd question is the immediate purchase of a house and land even before you get there.
If you were already in the area, or had trusted family or friends there, then they could do the ground work that's really necessary. If you don't, though . . . get there first, and
then buy a house, when you know the area and the people and the land,
then buy a house.
Until then, I would strongly recommend selling, moving, and renting until you get the lay of the land and know if you really want to live there.
Given the distance and the logistical problems that it is causing, I just don't think that this is a good idea.