Ok guys I’m going to put this out there see if anyone can help me out. I’ve been looking since last summer for a home. And as you can see not having much luck. Made some offers on foreclosures and ended up being outbid, home pulled off market and what not.
I have something that is just talks right now no numbers yet so I don’t have much for hopes right now on it.
Anyways I work right by the galleria mall and I am trying to stay under 35 - 40 minute commute. I want land, at the very least a couple acres the more the more better. Would love to have a barn/large out building, basic 3 bedroom 1100+ square ft, basement. The usual things I’m not overly picky but seems I find something and then there is one piece that ruins things. Such as electric heat, ridiculous taxes, too far of drive, no basement, 100+ years old so on.
I’ve been looking south around the 219 or 400 not really interested in going north, also keeping an eye out in Alden Lancaster area.
Max budget it around $170k but this would have to have taxes under $4000/year and and have good size garage barn and be move in ready, I wouldn’t feel comfortable trying to swing something major like a garage build with that kind of price tag.
Also for cash offers on foreclosures or what ever under $100k no way I can do more unless its some how absolutely everything I’ve ever wanted.
So anyways just putting this out there in case someone knows someone or sees something or has something they are looking to get out of that fits the bill. I’m sure I am leaving out key details so feel free to yell at me if need be.
My grandmother is a realtor so had her pull some quick specs, sounds awesome dont let the age scare you…
http://www.realtyusa.com/property/13893-Genesee-St-Alden-NY-14036/BuffaloNY/423312/
Alden - 140K Taxes ~3k 6 acres but addtl 10 available!
I know you are not looking for an old house, this is 100+ years but Pella windows, roof, siding, electric, septic all within 13 yrs. furnace & hot H2O 3 yrs.
Outbuildings include 19x31 shop, 20x32 garage, 26x38 pole barn
Purchase includes separate lot of 2 acres already subdivided from original parcel.
Additional 10 acres, subdivided into lots can be included for the total purchase price of $179900.
Glass block windows in basement. Drinking water system installed to eliminate hard water from well. Fruit trees, apple, pear.
Definitely needs some updating but been on market for ~ 6 months so guessing it could be had for ~130 put some money into remodeling and would very nice.
Wife and I have lived in Alden for ~5 yrs now, awesome location and close enough to everything.
Tbird looked at that house months ago nothing good to be had house is horrible and garages are not in good shape at all. Has nice siding and roof so looks good from the out side.
Don Ive been back and forth on that house, I really want a full usable basement for the price but the garage/shop makes it real appealing.
Thats the problem I keep coming into if it had a full basement I would have bought it already.
Looking again the house that fairgentleman posted doesnt look to have a basement which is a deal breaker again for me damnitttt LOL
I hear you. I’ve been searching for just the right place. It seems they all lie in far outer areas about 30-45 minutes from Buffalo. If they are closer they are edging 220000+.
Ok sounds good, she had no clue about condition. I just told her land and shop/barns lol.
I will look around some more…there are definitely some good deals to be had out there just need to find them.
We bought in Alden (new build and new development) and we have already appreciated ~$60k. People love the area and not many newer homes out this way.
No, we looked at those but lots were too small and broadway traffic noise was too loud. We are off Three Rod before the village, about 45 houses with .5 to 2 acres lots throughout. Every lot is gone and construction done.
No problem, will get back to you soon when I hear back. Definitely pull the trigger when you see something you like. She told me rates are going up soon and will not be back down like we see now, your mtg payment is only going to increase more and more as it increases…
I see people stating this all the time- buy now while the rates are low. Sure, it is nice to get a good rate, but what happens when the rates go back up, and suddenly the house you just bought isnt worth as much anymore due to a decreased demand? Its been a buying frenzy lately with the low interest rates- so with more people trying to buy, housing prices increase and it becomes a sellers market. When rates increase, not as many people are able to borrow (tighter FHA and first home club regulations went into effect July 1st) and not as many are willing to borrow. Therefore you have fewer people looking for houses, reducing prices, making it now become a buyers market. Now I could be wrong about all of this, and I got in when the rates were in the low 3’s, but Ive always told myself that people will always buy and sell houses no matter what the rates are, and that the rates will effect the prices of homes. And even if the rates climb into the 4’s to 5’s, that is still lower than what it has been historically over the past 10-20 years.
Side note: This isnt a call out or anything like that so take no offense to this- just throwing in some information that could maybe help the OP in making his decision. OP seems to be putting alot of time into this- dont buy a house your unsure of just because the rates are low. I believe the markets will adjust accordingly as it always does over time.
No offense taken, I love real estate talk. There is definitely some truth to what you said. Low rates will definitely drive up sales, decrease what is available and you will have to search for a deal. Buffalo never really experienced the huge high/lows like most areas so are prices have really stayed somewhat consistent.
Just because the rates dipped doesnt mean people can jack prices how they see fit. Prices are all driven by 6 month comparables in similar sq ft, features, etc.
I agree not to rush out and buy if you just plan on selling in 2-3 years. If you plan staying for a while it’s a great time to find a home and lock in a good rate. But yes there won’t be the big list of homes available like there will be when the rates rise, but then so will your payment.
Yea Im trying to do a one and done unless I really need something else or start making enough money to go big time. But like I said if im going to buy a house build a shop/garage/barn I wont want to give it up and start over. Rates are great now which makes it tough especially since I may be able to not go through a bank for a loan, but houses dont wait.
But again thanks for the help guys I went and looked at one 2 days ago and again old farm house… really old and for the price just couldnt justify it.
Not going through a bank for a loan? Paying straight cash or why no bank?
If you aren’t taking a loan then the low rate factor should really play no role. Might be worth to wait a little bit for the rates to go up and there will be an influx of houses on the market.
Still haven’t seen anything (besides ancient run-down things) with your wants. Is the land or having a shop/barn already there more important?
Are you against Pembroke/Batavia area, the 90 is right there by 77 (Darien Lake) probably 25-30 to Galleria. Taxes are real low out there and tons of places with lots of land.
I have a good amount saved and my parents said if I wanted I could borrow the remainder from them.(Feel a bit weird about it for what ever reason) But my worry is that I wont find something winter will come and ill be waiting even longer for something to come around. Ive got the itch to get a house now, started looking last year and went full out this year with no luck yet.
I need to at least have the room to build the garage/shop. 3 cars, car trailer, Dirt bike, atvs, all need to go somewhere along with all the tools. If I got something for under 150 and spent 20 or so on a shop Id be doing ok but 170 then trying to swing a garage on top of that I wouldnt feel good with. Ideally I would like a barn for cold storage and then a smaller shop for working in.
And I have looked some out that way, I drive out broadway a few times a month and keep an eye open. But I really like the southern area around springville. I have friends out that way and just like it out there.
If you’re going to borrow money from your parents do it as soon as possible. Banks want to see the money in your account for a few months. If you have a huge deposit right before you apply they’re gonna ask questions, make them get a notarized gift letter which could lead to tax complications, etc.
Truth, but that’s only if you are taking out a mortgage. If he is just going to use his saved money plus his parents it has no bearing were the money is coming from.
Another thing about applying for a mortgage. DO NOT make any large purchases while your loan is being approved (new furntiure for the house, car, etc.) the bank will take that money away from your income and they can/will cancel the loan.
