Welcome to Part 2 of this series called The $20k Homestead. If you missed our previous posts, you can catch-up by reading Part 1 and our Intro Post here.
The Home
With our land and financing secured, we ventured to see if we could even find a home to fit within our means. We wanted to find out sooner than later whether or not we could pursue this venture now, or if we had to wait and save more money. We searched within a 100 mile radius for homes. Looking on sites such as MH Village, MH Bay, and MobileHome.net, the prices started at $12,000. Needless to say, this was pretty disheartening and we took a week off from looking to regain our confidence.
We began looking on Craigslist and had better luck. The average home price was in the $6,000 - 8,000 range. Better, but nothing stood out enough to entice us to go look at it. At this time, I began spending time researching building codes and requirements for our county while my wife kept looking. About a week later, she sent me a Craigslist ad for a $3,500 home. There was only one photo, and a very short description:
14x70 Trailer, $3,500
Must be moved. Buyer also responsible for cleaning up everything the renters left behind inside. No appliances, water is not connected.
I'm pretty sure my first reaction was Ugh! This sounds horrible. At that price I'm sure the floor is as flat as a potato chip and the roof is a leaky tub! I was not interested.
About a week went by and my wife told me they had lowered the price to $3,000. I still wasn't interested. I put her off again, hoping not to drive 2 hours round-trip for a shack. My efforts only lasted another week or two, for it was when they lowered the price to $2,500 that I found myself driving out there one evening... one RAINY evening!
The first view of the house.
The owner met us and I cautiously led the way into the house, holding my breath. Dramatic Pause
The first thing that hit me was the height of the ceiling at about 9' tall. I couldn't believe it! Even better was that the whole home had vaulted ceilings--not just the living areas. From here things just got better and better. We had a "perfect world" wishlist for a home and to our amazement, this one checked off every... single... one!
- No Major Structure Damage
- No Leaking Roof
- Working Heat System
- No Evidence of Electrical Issues or Corrosion
- Open Feeling - Not Claustrophobic
- No Long Hallways
Bonus Points:
- Laundry Room
- Dining Room
- Split Bedroom Plan
It was 100% clear to me within 10 minutes that this was the home and I had better jump on it. I talked to the owner telling him our situation--that we were building from raw land, and he was more than accommodating. Figuring the place was going to be a dump, I didn't bring cash to pay a deposit, but he was content with our word to return in a few days with the amount... $2,000!!! He recently dropped the price and just wanted it gone. We returned a few days later to pay, fill out a bill of sale, signed the title, and write up a contract saying that we had 3 months to move the home or pay a small rent fee for the land per month until it was gone.
Here are some images from our first walk through:
About a week later, we drove down to bag up all the trash and clean the home. Here is a rough video I shot of the final walk through after our cleanup work that day. It's nothing fancy and was back before I began shooting video more.
Potential!
Pretty surprising, huh? The house was completely structurally sound, no leaks, no big damage! The electrical was good and no visible plumbing issues!
Coming Up Next...
With the house secured, it was time to get things going at the land. Stay tuned for the next step in our progression.
Thank you for reading and following us!
Part 3 Now Posted!
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