I don't know how things work everywhere but the places I've lived I know that a contractor
will cost you 3 times as much, if not more, than what one can do the job for.
 
Many benefits to a newer home. Easy to find out the contractor(s) did- just visit some of the
folks in the hood. After all, the well built newer homes will already have what you'd be trying to
achieve rebuilding an older one...like good electrical wiring so when you grab your instruments they don't
grab you back...and that's just one area of many with home construction.
 
If you don't have experience with all the aspects of building a home you will have a lot of time into learning
about the projects you take on. That combined with paying 3x+ for contractor(s) to do other jobs and you
can end up in a nightmare.
 
Good luck Mesh.
 
 

Not to be a broken record here, but HAVE you watched the Money Pit yet? 

craigb
Not to be a broken record here, but HAVE you watched the Money Pit yet? 

 
yup, years ago... that was some funny stuff...

Guitarhacker
A couple of replies:
 
I was working full time when we bought the house. Actually I was fired the day before the closing (a Thursday, we closed on Friday) and didn't tell my wife until Monday morning..... she would have freaked. I had a job in a few days and used the week in between to do some preliminary work so we could live in one of the rooms without feeling like we were on a camping trip.
I would come home from working all day and then work on the house until bedtime. there's always a way to get the time, plus, weekends were full of renovation work.
 
Tearing it down..... the town I live in has a 51% rule. You can demo 49% of the structure and be within the guidelines for grandfathered buildings. Beyond that, you have to follow the new and existing code requirements. And that may actually prevent anything from being built back due to setback and side yard requirements now. Some of the lots in this town are tiny and the houses are 24" from the property lines on the sides.
 
Regulations on the work:  If you own it, AND if you're going to live in it as a primary residence, you are permitted to do ALL the work including the licensed trades such as electrical and plumbing and HVAC......BUT, you still must pull the permits and have the work inspected and the work must conform to the active relevant code at the time.

I'm sure you know more about this than I do, but I was under the impression, at least in Texas, that you CANNOT do your own electrical work if it involves anything more than maintenance items, such as replacing receptacles and switches with the same type.  any new wiring or new fixtures and especially anything to do with the circuit breaker box has to be done by a licensed electrician.
 
at least that was my understanding and that's not necessarily outside of Texas.

spacey
I don't know how things work everywhere but the places I've lived I know that a contractor
will cost you 3 times as much, if not more, than what one can do the job for.
 
Many benefits to a newer home. Easy to find out the contractor(s) did- just visit some of the
folks in the hood. After all, the well built newer homes will already have what you'd be trying to
achieve rebuilding an older one...like good electrical wiring so when you grab your instruments they don't
grab you back...and that's just one area of many with home construction.
 
If you don't have experience with all the aspects of building a home you will have a lot of time into learning
about the projects you take on. That combined with paying 3x+ for contractor(s) to do other jobs and you
can end up in a nightmare.
 
Good luck Mesh.
 
 

In dealing with contractors, it looks like I'll need something more than luck Michael. The positive side of getting a brand new construction is that everything is new and nothing needs updating (which I like as I'd rather spend the weekend with the family than fixing stuff). The downside is you get a small lot with barely a yard for the children to play in (we home school out children, so a decent backyard for them to play in and also to grow some veggies/fruits will more or less be wiped out). A backyard is very important to us (of course the house has to be in good shape too).
We both love the "country style" architecture (rap around porches, big yards, mature landscape etc...), but those homes are older homes that are generally in need of upgrades.........and I'll probably need to hire a contractor (unless it's just cosmetic fixes). We're trying to live away from the city, but close enough for Dr.'s visits, groceries, and general conveniences. You would think in FL., where land is abundant, getting a house like this would be fairly easy/inexpensive........nope.........unless you live further than 45 min (1 way) from work. This has been our dilemma for the past 2 years.....

Mesh

spacey
I don't know how things work everywhere but the places I've lived I know that a contractor
will cost you 3 times as much, if not more, than what one can do the job for.
 
Many benefits to a newer home. Easy to find out the contractor(s) did- just visit some of the
folks in the hood. After all, the well built newer homes will already have what you'd be trying to
achieve rebuilding an older one...like good electrical wiring so when you grab your instruments they don't
grab you back...and that's just one area of many with home construction.
 
If you don't have experience with all the aspects of building a home you will have a lot of time into learning
about the projects you take on. That combined with paying 3x+ for contractor(s) to do other jobs and you
can end up in a nightmare.
 
Good luck Mesh.
 
 

In dealing with contractors, it looks like I'll need something more than luck Michael. The positive side of getting a brand new construction is that everything is new and nothing needs updating (which I like as I'd rather spend the weekend with the family than fixing stuff). The downside is you get a small lot with barely a yard for the children to play in (we home school out children, so a decent backyard for them to play in and also to grow some veggies/fruits will more or less be wiped out). A backyard is very important to us (of course the house has to be in good shape too).
We both love the "country style" architecture (rap around porches, big yards, mature landscape etc...), but those homes are older homes that are generally in need of upgrades.........and I'll probably need to hire a contractor (unless it's just cosmetic fixes). We're trying to live away from the city, but close enough for Dr.'s visits, groceries, and general conveniences. You would think in FL., where land is abundant, getting a house like this would be fairly easy/inexpensive........nope.........unless you live further than 45 min (1 way) from work. This has been our dilemma for the past 2 years.....

We had a least of needs when we relocated 24 yrs ago.
The place we wanted and have owned for years was located 15 miles from my work and 30 miles for my wife who has been retired for years.
The travel time to us was worth not having many of the issues one hears about when people settle for what they either have to or not going for what fits their needs.
 
It does take more than luck. It takes you finding what you're after and then investigating. I'm sure you understand "investigating" since many of the shows you enjoy mention them.
 
If you do a very good home inspection the areas that need attention may help get the price down and help prevent unknown surprises after signing.
 
Taxes was an important issue after finding the home we wanted- in the location we wanted.
Property/home taxes IMO is a crime- that tax money should be collected in gross receipts. We planned on retiring in our home and I was not going to be paying taxes on it...we didn't and never will.
 
There is more than one way to purchase property. You may want to learn about that if you don't already know.
 
Of course "needs" are different for folks...if it's just a place to get by for awhile I can sure see having a different view than a place to call home for many years.
 
Resale value had no meaning to us. Our needs out-weighed such things and any changes needed I could and have handled...and have.
 
Lots to think about and hope it all works out great for you.
 
 
 

spacey


Taxes was an important issue after finding the home we wanted- in the location we wanted.
Property/home taxes IMO is a crime- that tax money should be collected in gross receipts. We planned on retiring in our home and I was not going to be paying taxes on it...we didn't and never will.
 
There is more than one way to purchase property. You may want to learn about that if you don't already know.
 
 

How did you manage to "not pay" takes on your home?

Mesh

How did you manage to "not pay" takes on your home?

Homestead exemption. Not all states have it and not all homes fall into the catagory. We
chose a state and home that "fit".
 
We do pay a parish tax, yearly, about twenty dollars.
 
It's been going away because people vote that don't have a damn clue about what or who they
are voting for. That's not politics...it's the truth about why people spend years working to own something and
many of them lose it because they can't afford the taxes in their retirement or even before retirement.
 
 
 
 

we get a homestead exemption, but it's not the full value of the yearly taxes, it's a discount on the taxes.

Beagle
we get a homestead exemption, but it's not the full value of the yearly taxes, it's a discount on the taxes.

We are going to see a property (today) that has a lot of what we really like in a home (not a fixer upper) and it qualifies for the homestead exemption ($50,000 off the value of the house). Hopefully, it'll all work out....