Apartments for Cheap

Questions and Answers

Your Questions About 3 Bedroom House Plans No Garage

December 16, 2012

George asks…

Which house is the best deal? (Lots of details to follow)

I am a first time home buyer about to make a choice between two houses. I like both houses a lot, but my opinion aside, which one makes more sense financially? I am only looking to live in the house for about 5-7 years. Also I have no kids and I am not planning on having any. It would just be me and my boyfriend and our dog.

Here is the house information, both houses are the SAME price. Both sellers would pay my closing costs. House A is 7 years old, in a new build neighborhood that is done with construction, it has 2 full baths and 3 bedrooms (including a master suite), Square footage is around 1250. It has only a tiny yard, maybe .1 of an acre. Inside needs some work (painting, carpet ripped up, cleaning), it also has a 2 car attached garage.

House B was built in 1946, in an established older neighborhood, 2 bedrooms, 1 bath, 900 sq. feet, 1/2 an acre yard, all new carpet, new paint, move in ready, it has a one car detached garage, and a large deck/patio area.

House B is about 2-3 minutes driving distance from where I work, House A is about 10-15. I don’t know if this matters, but house B is across from a large upscale apartment complex. House A is in a neighborhood that has walking/nature trails and a community pool. Since I feel the same about each one, I am looking for advice on which one is the best deal for my money. Also, the best house for future resale. My realtor is on vacation this week, so I have to have an answer by Friday. Thanks for any advice! Please don’t waste your time or mine with “I don’t know answers” or “Whichever one you like better”. I feel the same about them, I would love living in either one. Thanks again.

Administrator answers:

Well if you are looking to only live there 5-7 yrs , the first thing to consider is the re-sle value of the house in 5-7 years, and you definately dont want to loose money!!
House A would be a better buy. The reason i say this is because – first off it is newer and well newer houses are usually worth more money with minimal repairs, newer houses depreciate much less then a older house …..basicly in a few years when you go to sell the house you will have to put more money into a older house to bring it up to par with other houses for sale. Also its a better thing that it is a newer neighborhood because you have to think – in a few years when you go to sell- the neighborhood will look better overall, in return the older house in older neighborhood will be surrounded by older homes that may not be kept up as well as you would hope , and even though you may have the money to make a few updates to a old house- your neighbors may have let their homes go a bit- and the neighborhood will suffer because of that. And please keep in mind- the main thing that determines the value of your home is the homes surrounding it.
Besides that – ALL appraisals and values of houses are based on square footage -so the more the sq ftg = the higher value. And even though I know i would prefer a bigger yard (because i have dogs) well most people(much like yourself) do not care about the size of the lot ,
especially if its only a quater compared to a half acre. And for the few that are looking for the larger lot- – well value of land is VERY minimal -
and in most cases only holds a value of a few thousand dollars , and even at that – with a larger yard it may make the house quicker to sell but it still will not make it worth any more. On the other hand a newer bathroom – even newer half bathroom – is worth more than a few thousand dollars.
P.s. – did you check the values of these houses? Of course a appraisal is best- but if you go to zillow – you can get a good idea of how the neighborhoods stack up. .. Because you are undecided about the houses…. I would definately recommend making the decision based on the best value because that will allow you to make the most money off your purchase in the future. The real estate marklet now is at a point where yu either make a good informed decision and stay above the water or else a bad decision can easily make ya drown.

Sharon asks…

Owning a home and disability?

I am expecting (knock on wood, and praying) to be approved for my disability soon. I would like to purchase a house, its cheaper than renting, and I can’t afford much in rent. I will make around 1033 a month. Well, exactly that amount. I can earn i think up to 600 a month, but with my current health situation, it will be a while before I will be able to work. I am willing to put up to 12k down (out of my back pay) towards a home. I have no bills currently, and plan to clean my credit back up (from the not being able to work situation). I am hoping to purchase a house that is no more than 80k, or around 69k. Is it a mission impossible? I will be living in NC. What else will i need to do? Are there any groups or places that can/will help me? I am looking for a 3 bedroom house, with a garage, and a bonus room.
I have determined the mortgage rate on some places, and owning is the most affordable option. Renting a home is not possible, as the lowest rent I could find was higher than the average mortgage, in fact, for a comparable house, it is hundreds more per month. (Mortgage payments including insurance(s), taxes, and principal were at 450 dollars, while renting was on average 700 a month or more. In fact the same exact house had an option to rent which was exactly 700, with all other house‘s averaging 900 a month.

Administrator answers:

Remember your costs for maintenance, and repairs – a $70,000 house is likely to be a fixer upper. There is property tax and insurance. You probably need a snowblower, lawnmower etc.

I bought a rural home, and here are my financials. I will give you my brother’s also. You income may be too low to get a loan without a cosigner – my brother needed our parents to cosign, even though he makes all the payments.

I have $21,000 yearly income from SSDI and private disability insurance. I purchased my home for $61,000 at 5 3/8% interest on a 15 year loan, and my payments are $500 a month. My insurance is about $1300 a year, because I am more than 7 miles from the fire dept. My property tax is about $200 a year, because I get a small break for being disabled. I have a long driveway, due to being rural, and need an ATV and plow to plow the road in winter, and that was $7000. I needed a riding lawnmower, due to the size of the yard, and that was $1500. I have done OK, but I got married soon after, so I am doing terrific financially even though my husband had 2 properties that we pay much higher taxes on. My home is a fixer upper, in better shape than my brother’s, though. My husband and I are skilled at fixing things.

My brother is on SSI. He has about $750 a month income, perhaps a bit more (our state throws in a bit extra). His home was a fixer upper for $31,000. He has a 30 year mortgage with an escrow account, and his payment runs about $300 a month, including his property tax, which is about $250, and his insurance, which is about $500 a month. He is thrifty as anything, more so than me, and can fix his furnace or hot water heater when they have problems, therefore, few maintenance costs. Due to being poor, from time to time he qualifies for a government program that will help with things, like his refrigerator was replaced with an energy efficient one, and his sewer was changed, and they will re-do his roof. The funding for programs like that will probably dry up now that the US is having financial problems.

Now, maybe you are skilled at fixing homes, but remember you have to work around your disability. My brother and I have severe depression most of the time, and have to work around that. My husband is legally blind, and so he needs my help with many things, but then I am depressed, and it can get kinda funny and frustrating.

***
We both bought our homes before the mortgage meltdown, and I used the Minnesota first time homebuyer’s assistance (that just meant you got a fair rate and there were no nasty terms, like balloon payments or ARMs or penalty for early payment, etc). My credit score was about 700 when I bought this place, and my brother’s was about 740, but our parents cosigned for him, and theirs was around 800.

Thomas asks…

feelings hurt by an introverted roommate, any coping advice?

i’ve recently moved in with an old friend (i have been living in another state for the last 10 years) at his invitation. he needed a house-sitter/roommate for his home because his job has generally been taking him away 3 weeks per month and he worries about leaving his 4 bedroom house vacant and unmaintained. i am planning a move to france in spring of next year, so it seemed like a great temporary situation for me with someone i like. i am a female mild introvert in my early 40′s, as is he.

i moved in sept and spent the first 3 weeks in the house alone. though i made a big effort not to disturb the existing arrangements, he wasn’t here and had left no space for me; the cupboards, closets, and even all the bedrooms were filled with furniture. my room is in the basement which also has a tiny bathroom and a sitting area, but no cable, internet, kitchen, or outdoor access. i assumed we would share the communal areas (kitchen, living, dining) and made the mistake of using those areas for about 1-2 hours a day in the first week or two he was here. i started sensing a very irritated vibe from him, but couldn’t figure out what was wrong. he never said hello or goodbye, refused any invitation i offered (meals,dvd,etc), and generally acted irritated or interrupted whenever i asked him a question(practical things like garbage days, where to put things, ect).

my feelings were hurt and i started to withdraw into the basement. to his credit, after about 6 weeks, he did hook up a wireless internet box so i can use my laptop downstairs, and hooked up an extra basic cable box he had, but this seems only fair as i am paying rent and 1/2 of all the bills (including his tivo which isn’t wired downstairs). 4 or 5 days would go by without our speaking to each other. silence and quiet are fine with me, but this quiet is tense and feels almost faintly hostile…

last time he left for 2 months and scheduled a kitchen remodel during his absence (which he had not warned me about before i moved in). for 4.5 weeks i had no stove, no sink except a miniscule bathroom basement sink, no kitchen counter, plastic on the walls and floors, etc. he left me with the responsibility of dealing with the contractor, choosing wall paint color, chosing tiles, and making all many decisions in his absence. i even ended up paying over $1,000 expenses for him (which i don’t mind, he is totally responsible, i just want to show i’m making an effort). i cleaned the entire upstairs (or should i say HIS space) after the work was finished out of necessity. he got home 2 weeks later to a spotless house, paid bills, etc. he didn’t thank me for any of it, just said he was sorry he had figured the work would only be a couple days.

after arriving home last week he said he wanted to decorate the house for xmas, and go get a tree. we went together to buy a tree (our first joint activity of any kind in the 4 months since i came), which i paid for, and then he immediately started complaining that he wanted to go home. so we put the tree in the garage, and i told him that whenever he was ready to decorate to let me know. he ends up “sneaking” the tree out the garage door and around the house (so he doesn’t pass me holed up in the basement), takes it upstairs, and decorates it while i am downstairs on the computer waiting for him to come get me. when i later went up to the kitchen for a drink i see the tree up, the decor finished and he is relaxing on the couch. it’s very clear that my presence upstairs isn’t desired.

i can’t help but take this as an indication that he doesn’t want me living in his house. we don’t speak except for a few words every 4-5 days, and i’m living in a dark basement afraid to even cook a regular meal for myself because i feel like i’m disturbing him doing anything upstairs.

so five days ago i told him nicely that i was looking for another place and would be out as soon as i could. he acted suprised and asked why. shocked, i told him it obviously wasn’t working out and cited several examples of why i felt “bad energy”. he didn’t say much, and i went back downstairs. the next morning he came downstairs and said he wanted to apologize. he said he had thought about it all night, he had acted like a jerk, he completely understood how i felt and he was sorry he had hurt my feelings. he said he was just “that way”, and that it had nothing to do with me. THEN he said not only did he want me not to have to move, but that he both wants and needs me to stay as he will be traveling for 2.5 months beginning late jan and doesn’t want to leave the house empty.

how do i live in this situation without constantly getting my feelings hurt? i tell myself this is not about me, but long ago we used to be great friends, and i feel like his behavior has not just signaled lack of caring, but actual contempt. though he says otherwise, his behavior makes me feel like i am doing something wrong just by being here. i

Administrator answers:

Dude,that is WAY too long.

Nancy asks…

Buy it made or build it your own? (10 points best answer)?

Hi, so I’m 20 years old and I’m engaged to my 24 year old fiancé (and we do live together). We’ve been together 2 years and 10 months, we have no kids (yet :) ) and like any other commited relationship, we’re starting to look into our future.

We’re open to any kind of ideas right now so that we can get get all our options on the table. First we started looking into maybe buying a condo but as for me space would be an issue. So after thinking I came up with the idea of just building our own home.
Buying a home on the market will have the down side of compromising something on our wishlist since it’s already built rather than building your custom made home.

Now I understand the risks of building your own home rather than buying it ready to move in. So my question is, moneywise would it be cheaper and better to buy a house on the market or building our own?

House plan: Atleast 4 bedrooms, 3 and 1/2 baths, 2 story, 2 garage, Victorian look to it

Thanks in advance!

Administrator answers:

It’s going to be cheaper to buy one ready made unless your very restrictive and strict.

Since you want a house that you designed yourself, you will no doubt not want to compromise on design and come up with what you want which will probably work out much more expensive than a regular house, not to mention the land and design/architect costs, if you will have permission to do what you want.

It will cost you more emotional stress then anything else though. If you got the money do it, if you havnt just get a normal house.

James asks…

what do you guys think, can you turn this house into a duplex?

http://www.realtor.ca/propertyDetails.aspx?propertyId=8735630

General Description

4A//WINNIPEG/Handyman special – 1 3/4 home completely gutted to studs and rafters – windows and doors are boarded up per City Order avail from vendor. Room sizes are approx. No services, furnace, HWT, toilets, sinks – bring flashlite and watch your step. Foundation blueprints and building permit avail from vendor. Exterior upgraded – shingles, vinyl siding, eavestroughs, windows, doors, elec meter & panel. New rear addition. Parking spaces or garage space avail at rear lane. GST may be payable. SOLD AS-IS.

Its gutted to the studs right? i’m getting into real estate investing and i was thinking ( not going to buy, just planning things out ) since is gutted to the studs that maybe i could rearrange the flooring plans to make it a 4 bedroom duplex? ( 2 and 2 ) Is that even possible? Oh yeah in my city the house is located on a crap area but still if i can make it to a duplex i could get 25% return of my investment on the cashflow cause of the money i bought it with. I’m guessing it would take 10 grand to fix it ( doing the labor myself of course )

Administrator answers:

If the structure and wall layout will allow, why not? Other things to consider might be dual systems for sewage, water supply, gas. Electric and etc. Do all your research get all your ducks ina row and go for it.Good luck.

Lizzie asks…

What do you guys think, can you turn this house into a duplex?

http://www.realtor.ca/propertyDetails.aspx?propertyId=8735630

General Description

4A//WINNIPEG/Handyman special – 1 3/4 home completely gutted to studs and rafters – windows and doors are boarded up per City Order avail from vendor. Room sizes are approx. No services, furnace, HWT, toilets, sinks – bring flashlite and watch your step. Foundation blueprints and building permit avail from vendor. Exterior upgraded – shingles, vinyl siding, eavestroughs, windows, doors, elec meter & panel. New rear addition. Parking spaces or garage space avail at rear lane. GST may be payable. SOLD AS-IS.

Its gutted to the studs right? i’m getting into real estate investing and i was thinking ( not going to buy, just planning things out ) since is gutted to the studs that maybe i could rearrange the flooring plans to make it a 4 bedroom duplex? ( 2 and 2 ) Is that even possible? Oh yeah in my city the house is located on a crap area but still if i can make it to a duplex i could get 25% return of my investment on the cashflow cause of the money i bought it with. I’m guessing it would take 10 grand to fix it ( doing the labor myself of course )
lol yeah ur right, it would be small. But since its a crap area, i wouldn’t need two seperate heating units and other stuff except for plumbing as my rent would go “utilities included”, is that right?

Administrator answers:

Is it worth your time and effort is your biggest question? You have to begin with the end in mind. How are you going to get out from underneath the property if things do not go your way as planned. What is the square footage of the home and the comparables in the neighborhood with a house like that, let alone a duplex? Are you planning on turning it into a section 8 property because you mention it will be pretty small and you are trying to turn it into a duplex.

As far as your estimated cost, where did you get $10K from, that might be $10K minimun plus other expenses and most your time. Why don’t you have contractors come out and barter with you. Your time is your most valuable asset unless you like getting down in the trenches and doing it yourself. You also must consider what rents are going for in your area. This project may take you sometime to recoup your money if you are going to buy and hold.

Anything worthwhile is worth doing.

David asks…

How much would it cost to build a house with this floor plan?

This floor plan is pretty damn close to my dream house.
I love the idea of a 2 story ceiling in the living room, with the upstairs balconies.

The only thing i would change is to bump it up to 3,300 square feet, and change the direction the garage is facing, and add a basement storm shelter..
I know the general rule is $100 per square foot, but would the design of this house[super high ceilings/building materials etc] change the pricing?

This is just for fun, me day dreaming about my future [woo med school :p]
So no need for mean comments.
Just looking for general ideas as i don’t know whether it would be more cost effective to have a custom house build like this, or pay 400-500k for a similar house already built, that has an excess of 5 bedrooms i don’t want.

Thank you everyone.
Oh my god i forgot to actually put the link….
Wow..
Haha sorry

http://www.architecturaldesigns.com/house-plan-15659GE.asp

Yeah I’m going to be anywhere from 100,000 to 200,000 deep in student loan debt.
It will just keep building up too with interest.
Its intimidating, but in the long run, after residency it will be worth it.

Administrator answers:

I’m looking for the link to see your home. In any case, 2 story foyers are nice looking but a vast waste of space. I’m just sayin… And honestly, I don’t know where you are living or who you have spoken with; but $100 s.f. Hasn’t been the norm since the early 90′s. In today’s marketplace, you’re much better off buying than building. Good luck and best wishes in med school

Donald asks…

Need help finding a floor plan!?

Can someone find me a floor plan of a house. 3 bedrooms, 2 1/2 baths, NO GREAT ROOM, NO OPEN CONCEPT. Just dining room, living room, kitchen, half bath, washer dryer room, stairs, and garage on first floor. Three bedrooms, 2 baths on second floor.
Thanks! I am having a tough time finding such a floorplan.

Administrator answers:

So, specific details, not specific building?

Just draw it yourself. Not that damn hard.

Ruth asks…

What would happen if I let my townhome go?

I have a newer townhome that I owe 160,000 on. With the mortgage payment and association fee we pay the same that we can get my parents house for.

My parents are downsizing and paying cash for a house, and Im planning on taking over the payment.

They have a 4 bedroom 3 car garage basement and yard. My townhome is only 2 bedroom no basement no yard. I will have to upgrade when I have a 2nd child. If I can get this for the same price why not let my townhome go? They are keeping the house in their name but I’ll make the payments.

Am I able to do this? Do I need a lawyer, or will the bank go after me? Im hoping to not make payments and not be pentalized.

Administrator answers:

Locate a good realtor in your area and list your home for sale.
See what you can get for it.

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