Hello everyone, we need help. We absolutely must move to a specific area which happens to be a wealthy neighborhood because our daughter goes to a school here that she has a grant for (she's in Kindergarten) she will be going to this school for the next 10 years. So we need to find a home we can afford, we found one that is beautiful on the outside with yard & trees, newly made detached garage.
However the inside needs work and its ultra tiny! 660 sq feet! Its a two bedroom with a kitchen, a living room, two bedrooms, one bathroom.
We have three kids, 5, 3 & 1 years old. We already know we'll have to get bunk beds etc. But we need to fix the interior and really want to add on to the property.
We're buying the home for 95k, which is virtually unheard in the neighborhood but its a "short sale" home. There are mansions all around the neighborhood lol.
So should we knock down the garage? And add onto the home? Should we build equity and fix the inside up until we get over the housing slump and resell it? Normally the house is worth 205k.
Also, I'm a bit worried about the tree that is right by the bathroom. The owner said he HAS had problems with the plumbing because of the roots.
Should we hire someone to re route the pipes? Or should we cut the tree down?
Thank you! We will be posting A LOT since we've never done home repairs and we're on a tight budget!
We are first time home buyers!