Good Bye to Pokeberry Hill...


Monday, November 10, 2008

The Dream Rears its Head Again-- A Half Built House?

These weekend we found a house that a builder had begun and was selling unfinished on an acre + of land. Its all dried in and needs some wiring and some plumbing and lots of dry wall and other finishing details. It is a little more money than we have--but we are close, perhaps close enough to deal?

Anyhow our main concerns are if is is all 'legal' and 'safe' its perched atop a wooded hill in a little neighborhood in the country. All the lots are at least an acre and about half are sold and have new doublewides on them--or manufactured homes. This one is in a kind of conspicuous situation at the back of the road on the highest lot--so it is somewhat 'showy' although it is not finished.

If we bought it we would have to do enough finish work to as quickly as possible get an occupancy permit and then finish rest on a pay as you go basis.

We'd end up with a house that is worth far more than it would cost and hopefully no mortgage.

Up sides--its a lovely area in South Carolina with the low taxes. It is a beautiful and not too long drive to my husband's work. There is a school nearby our son could transfer to to and a city nearby where the kids and I could find jobs--yup--its too far from my library for me to retain my current job. :(

In any case we are very interested. I will call and see if we can get an in-depth showing hopefully with the builder so we can ask questions.

The builder is currently out of work. What's interesting is he built this house over a period of 4 years apparently he used a great deal of recycled materials. We thought that was kind of neat--very semi-frugal.

It is a bigger house than we had been looking at. Big houses in this part of the country are very pricey usually-- although some of the newer ones have dropped dramatically this year--I believe because of the bad neighborhoods more than anything else. There were many lovely 2 story houses built in brand new subdivisions and folks with 80/20 mortgages bought them with just $500 down. Turns out they couldn't afford them and many of them were made into rentals after foreclosing--well-- now there are some for sale at less than 1/2 the original prices. One we read about this weekend said it had some damage to the siding as well as broken windows--I immediately thought--probably bullet holes. As much as we want our own place we will not buy into one of those areas as we've 'been there done that' and know how high the violent crime stats are and how lucky we were to have gotten out before something to happened to us. One house 2 blocks from where we were was shot up in the middle of the night. I heard the shots in my bed!

So--yup we're not keen on high crime areas. This area looks like do-it-yourselfers and working folks. There are work trucks and a semi parked in the area and one family has a couple donkeys and goats in a fenced in area. Its all hills and trees-very pretty. Country but not too far from city. It even feels peaceful. :)

Well-- we shall see. It does seem like an interesting idea, I would miss my job--but-- perhaps I can find work in a plant nursery or a Harris Teeter? Or perhaps I can concentrate on writing and starting my own little business? There are always options. I don't make enough money to make finding a home near my work our biggest priority--facts are facts.


  1. WOW sure are actively looking. This sounds interesting! Keep us posted on what you find out! With your experience in the library, I wish you could stay with library work! Maybe there is one near there somewhere??? I think you could be overly sad if there isn't! LOL.

  2. There is a library not too far from there. I can do other things however, I have worked in retail for instance in art supplies and in needlework and at a Walgreens. Also have restaurant and nursing home experience. Perhaps I could find a job in a plant nursery--who knows?? There's always something. :)

  3. My husband just bought my daughter (who is a widow with 2 small children) a foreclosed house. He is her step-dad. I was going to give her the down payment but he said he'd pay the rest. He'd rather have his money in a home than in a bank that might go under. She can afford to pay him back (has a good job and social security for the kids). He's only charging her 4 1/2% (more than the interest he was getting). Nice older home in a quiet neighborhood, large basement, large back yard). Everything a family could want but not extravagant.
    I read your blog first every morning. You are so honest and down-to-earth.

  4. Thank you Jean, I'm so glad you like my little blog!
    We've talked about that too, we look for foreclosures and fixer uppers all the time. I think--if we get any financing at all we will go with owner financing. The way the economy is I think there will be more and more of those as your hubby is so right--its probably a safer place for money right now earning a bit of money and helping someone out who wants to buy a house at the same time--I love that idea!