If you love the house, location, etc and if it fits your goals for your new house....go for it. But...if there is something major that you will not have by buying this house instead of building..then build.

It looks awesome. Around here, buying is cheaper than building. So far, we are about 100k over budget but we are only about a month from being done.(fingers Xed it won't be too much more over. Even if you have to do a bit of renovation it might be worth it.

A lot of people everywhere read this forum. If you are even remotely serious about this house, since the location is listed you'd better get over and see it ASAP, and if you like it make an offer. When one person likes something, that can draw others' attention to it.

Anne

If you go see it and it feels right, then I say go for it. It's beautiful. Just make sure you use your own real estate agent-I don't recommend a dual agent-and cover your rear by stipulating that your buying the house is contingent on it passing inspection, etc. Anne does have a good point, so I would jump quick to go take a look. Good luck, Tinker!

I love it. So charming! Too bad they repainted, I kinda thought some of the colors added a bit of whimsy.

If it is a huge bargain...maybe you should take it! Lovely pool and yard and such a charming house on the water. I agree that buying is sooo much cheaper than building. With a construction loan there is all that interest that you don't pay when you buy an existing home. However, if you would always feel like you are settling, than just build.

Providing location is suitable, I'd take that property over a new build in a more pedestrian location every time.

Building a new house is expensive. Building one with character is another realm altogether.

That's a nice place with a lot of character. It seems very welcoming and happy.

I'm kind of having the same dilemma with this home.

Here is a link that might be useful: A Hays Town House

bb19 I couldn't get the link to work...

It's a hard decision, the house is in "location, location, location!" We went back and looked again, really looked. There is a lot of work, it's an old home and it has some quirks... but I do love the charm! We made an offer... I'm sure it is not going to be accepted, and we have to decide what it is really worth... and go from there. These old homes are few between (and in a decent areas). We still have plan B to keep plugging away at building.. so trying to just see what happens!

tinker,

The link worked for me. Click on continue under "virtual tour".

I know exactly what you are going through right now. I really want to build but there are so many unknowns with something that is a 2d dream. At least with buying a house you somewhat know what you are getting. On the other hand I like my final plan a lot and I have a very specific vision. I just have to somehow communicate that to the builder while at the same time keeping the budget within reason.

if i found a home that met all of our requirements and i loved it, no doubt i would buy it! that really does look like a great home; i really like the fireplace and that it's a bay lot. that would score big with me!

if you're drawn to it then go for it! you could always re do the kitchen and baths (if you wanted to). i would have preferred that over the Build From Hell.
good luck!

I'm not sure I'm watching the right video. It said VA. I thought you said a Florida home?

Wherever it is its beautiful. I love it. The property is beautiful, you would wait a long time to get your property to look so nice if you build from scratch. Those Palms are beautiful. Hope I'm watching the right video.

How much are they asking?

Jane

Jane, yes - you're watching the right video, they are advertising others with the same name (Sunrise). This house was assessed 4 years ago, at 1.9 Million.. and then the crash... and it is now accessed at $890,000. It has almost 1 acre of land, which includes the private boat dock. They are asking $999,000.. which the Realtor feels is too high in this market. There is a newer, larger home in foreclosure 2 doors down, and they are asking around $900,000, property not as nice, no pool, but does have a detached guest house - with 2 baths, kitchen, laundry room... DH likes it, but it's a Key West, LOTS of stairs going up, and I see family members having trouble visiting, and I sure would hate carrying groceries upstairs. This house would need major renovations too (new kitchen, baths) but it would never be a house I find "charming".

Again Jane, I have built before and you're 100% right.. it would take years and years to get the grounds to look beautiful and those Royal Palms are VERY pricey!

Kate.. yes.. I think I'm getting a few flash-backs of builds from hell.. been there! We have built around 5 homes, and we have totally renovated (major, tearing wall, electric, plumbing, etc..) 3 old homes (in my younger days! I'm 49 now and I did say never again... LOL)

bb19, I was able to see the video using a different browser, and can see why you're in the same position. 120 acres.. wow, that's sounds beautiful! The house does look like it needs work too, but the bones are there. I'm the same way, I really KNOW what I want with building, but communicating it, and doing it.. plus the cost, does scare me. We ALWAYS go way over in all our builds.