First house?

Question

So me and my SO got offered to buy a tiny 2 bedroom 1 bath house, for $3,000 from a family friend(they have no use for it and want it out of their hair).. It needs some tlc and it is a fixer upper but we could live in it while we fixed it. My SO is trying to think in his mind if it is worth it or not, because it is only a 2 bedroom? I don't understand how it isn't worth it for our starter home.. I'm not sure what I can say to let him know I think it's an amazing thing for us. We live in my moms basement right now and we have dogs so it is so hard to find a rent house that allows pets and I refuse to give my pets up. But this place would be ours, even though it is little it doesn't have to be our forever home. We don't have children right now due to fertility issues so I think fixing up in a home would make me feel better and it would be something that was ours.. I just don't know what to do

Answer

If you mean $3,000 and not $300,000 that is an amazing offer that I wouldn’t pass up!! Even if it needs some tlc, it’s not an opportunity I see you guys ever getting again.   Do they own it free and clear and are just giving you guys the deed badically?

Answer

I would never NOT take that offer lol the land alone is probably worth more than $3000

Answer

that is the cheapest house in the world 100000% worth it.

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Do not pass that up! Think of the resale value! When you are ready to move on you can sell it for significantly more than you will be paying. $3,000 for a house, damn.

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Wondering what ended up happening?!

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Ok...before I jump on he bandwagon and say do it how could you pass it up....I have to ask why is it only $3000? I wouldn’t do anything until you have an inspection done. I mean $3000 is great until you find out you need thousands of dollars in electrical, plumbing, or structural work and then what? You have a house you can’t live in and how are you paying for those potential repairs? I’m not saying don’t do it but make sure you do your research and find out everything that needs work besides cosmetics and TLC before anything.

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Oh my god do it. Don’t hesitate. We’re in the same situation, living in my MILs basement, we have a baby due in 22 days and a large dog. I just got a new job and because of the pay upgrade and steady hours we can now afford to buy my fiancé’s great grandmothers house for cheap off of his great aunt, and we jumped on it, because we need to get out of this house

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I would take it. Even if you dont wanna live in it once you have a child (btw it is perfectly normal for people to have 2 bedrooms with 1 child) you can use it as equity to buy another home and rent it out

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I would take it. Fix it up as you live there and can afford it. If it ends up being too small you should be able to sell it for far more than $3000 + whatever costs you had to fix it. Or, if you can't manage to sell it you can rent it and recoup your costs that way.

Answer

Definitely do it!!!

First house?

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