If you've been reading my blog for a while, you might remember George, our neighbor in The Big City. (I couldn't find an old post to link to - sorry!)
Four years ago, when we were trying to decide whether to stay in The Big City or move to The Land of Fruit due to our growing family, George mentioned that he was thinking about selling his house. We toyed with the idea of buying it, tearing down his house and then building onto ours. Ryan even had some paperwork drawn up. And then George decided not to sell. So we moved to The Land of Fruit.
Well, according to our tenant, George put a "For Sale" sign in front of his house yesterday. He even asked her if we were still interested in buying his house.
We did a quick search to find out how much he was asking and found out that he's only asking for the price of the land since the house is in such terrible condition.
For a brief moment, Ryan and I thought about buying it. We'd still tear down the house, but that would give us two lots, one for our rental house and one for a yard. We wouldn't move back there since the kids are settled here in The Land of Fruit, but it would be a fabulous investment and it would give our tenant's son a yard to play in. And it would give us a nice piece of land for building on when we retire.
But we just don't think we can swing it. We're already paying down two mortgages and just don't think it's smart to take on another loan, even if it is a fabulous investment (our old house is a mere two miles from Downtown Big City).
So, George will probably sell it to a couple of childless yuppies who will tear it down and put up some kind of three story monstrosity that will bring down the value of our tiny little bungalow.
3 months ago