My boyfriend and I are in the process of buying a 1,468 square foot, 4 bedroom, 2 bath, 2 story home with a 400 square foot screened-in patio on a conservation lot.
The lot is small and it needs a little bit of TLC (the kitchen and bathrooms have basic white plywood cabinets that we plan on replacing, needs blinds, etc.) but the home is located in a series of neighborhoods that is considered very valuable. As it stands now, homes in the area are appraising from the 150s-500s, depending on the individual neighborhoods. The area has some of the best schools in the state and very little crime activity.
Our house is the cheapest in the neighborhood at 119k. The next door neighbors’ houses (according to zillow.com) are worth about 200k. The home was foreclosed on and is very basic, so I can see why it’s so cheap, especially in this market.
We can afford the house, and are absolutely in love with it. But of course, it’s a big thing to buy your first house, and I’m a little nervous. Is this a smart move?
We’ve had two inspections done, and the only real problem is with two shingles on the roof above the garage causing a leak. The inspector estimated it would cost about $ 150 to fix. We also have a window that got its tracks warped, which the inspector estimated would cost about $ 200 to fix.
I’m in Florida and the only homes selling for 80k are in the ghetto.