Long term planning of selling your home?

[lman]

My Amish neighbor asked me a while back how long we were going to live at our place and said they would be interested in it when we sell. They usually buy property with 15-25 acres at a fair rate around here because they need property with acreage for their livestock.

 

[riptides]

When we sold our Estate property the realtor and a family member insisted/demanded that we paint and re-carpet the place. Some of us were just interested in having a clean house. Which it was even without the expense of paint and new carpets.

The buyer ended up ripping out the new carpets, repainting the entire interiors and renovating the kitchens and baths.

It was wasted funds and time, IMHO. As-is was and is my mantra. Buyers have their own visions and priority when they look at property. A clean and neutral place is all they need. IMHO.

 

[Sigarms]

My Amish neighbor asked me a while back how long we were going to live at our place and said they would be interested in it when we sell. They usually buy property with 15-25 acres at a fair rate around here because they need property with acreage for their livestock.

What I struggle with is what is a "fair rate" for land? You want to be fair, but you don't want to give it away if that makes sense.

I'm going to miss this home. Only home I've ever owned. It has served us very well over the years raising two boys as well as having my father live with us for 4 years before he died. Reality is though my wife is right using common sense. The home has 3 levels and is way to big for just the two of us, and I'll probably have to have my shoulder replaced next year and I really can't keep up with the trees out back with the chainsaw anymore.

Only hope is that it would serve a growing family well like it served us.

 

[Sigarms]

When we sold our Estate property the realtor and a family member insisted/demanded that we paint and re-carpet the place. Some of us were just interested in having a clean house. Which it was even without the expense of paint and new carpets.

The buyer ended up ripping out the new carpets, repainting the entire interiors and renovating the kitchens and baths.

It was wasted funds and time, IMHO. As-is was and is my mantra. Buyers have their own visions and priority when they look at property. A clean and neutral place is all they need. IMHO.

I don't disagree with you at all. The kitchen does need work though. The question is what did you end up selling your home for per a price point? At the end of the day, if we come close to the bank appraised value of the home with 6 acres only, I have no qualms spending the money.

 

[riptides]

... What's going to be interesting is how we sell the whole property. Currently the home sits on 6 acres, but there is an additional 32 acres that is really your backyard. Current suggestion which makes sense is sell separately, but offer it as a package deal with a total 38 acres.

I'd list the home and 6 acres, with an option to buy the additional 32.

Meaning market separately.

How are land sales in your area? That is the deciding factor for a package deal. IMHO.

 

[riptides]

I don't disagree with you at all. The kitchen does need work though. The question is what did you end up selling your home for per a price point? At the end of the day, if we come close to the bank appraised value of the home with 6 acres only, I have no qualms spending the money.

They lost money on the deal. We meaning the MIL who IMHO, gave it away.

Unfortunate but advice from her daughters, IMHO, was not business advice. It was an emotional transaction and it showed. The listing/selling agent was a "family friend".

 

[Sigarms]

How are land sales in your area? That is the deciding factor for a package deal. IMHO.

Honestly, nothing stays on the market for long. For land only, you're starting off at 10K an acre minimum.

 

[Sigarms]

They lost money on the deal. We meaning the MIL who IMHO, gave it away.

Unfortunate but advice from her daughters, IMHO, was not business advice. It was an emotional transaction and it showed. The listing/selling agent was a "family friend".

I don't think we will be losing money on the deal even investing in doing some small upgrades.

I have no intentions of giving the house and land away, but I do think we got a good deal on the place at the time, and if the right family came along, we'd do the same (and not lose money on it).

If anything, my emotional attachment to the home and property would raise the selling price higher if that makes sense.

My first home, bought at age 39. Never owned a TV or bed in my life as an adult, and that all changed when I got married

 

[EddieWalker]

I missed something somewhere. The last thing I remember was you were looking at places but haven't found anything. Did you buy a place to move to?

 

[Sigarms]

I missed something somewhere. The last thing I remember was you were looking at places but haven't found anything. Did you buy a place to move to?

Yep.

My wife moved up my time schedule.

She is the one with a vision, she saw this house, her vision for it, and I trust her even though I really didn't want to LOL

House was built in 1962, had some people I trust very much on that side of things and they did agree with me that the house for the age was in great shape. Only thing is, due to the age, everything needs to be overhauled as it never has been changed. Of course we have to put some money into it (a good amount) but for the sell price with land, it was a pretty good deal even in my opinion.

One owner home, the mother passed away last year and the family was selling it. Small home with 3.7 acres, just enough where no one is going to build on top of you.

The reality is our current home has spoiled me.

I had to take the Kubota over to mow a field and met the neighbor across the street a couple months ago. Seems like good people no different where we live at now, so that's a blessing.