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Little House in the City

January 2, 2011

I’ve gone back to the place I wrote about in ‘The First is the Worst.’ The place where K slipped. The price dropped by $26K, and I had to revisit the possibility of living outside of the city. The other place I wrote about, in ‘Urban Rusticity,’ hasn’t panned out. So far I’m not sure about this one, the Logie Trail property.

Here’s the deal: it needs a new roof, new siding, new flooring, some foundation work, probably windows when the siding happens, and I don’t yet know if either the well or furnace works. It’ll cost me a grand to find out all that stuff, another $500 to see if my bank will accept it – which they won’t, until the roof is replaced.

The upsides: it would be a nice little house once all these things were done. It’s on .62 acres, the back third of which is a valley with ferns and trees. There’s a creek at the bottom which probably isn’t on the property but can be heard nonetheless. It’s a beautiful, serene spot; just right for a cob shelter and fireplace / pizza oven / hot-tub.

Question 1: Do I want to take this on?

Question 2: If the answer to #1 is yes, then: Can I get funding for this house? Specifically, am I confident enough that I’ll be able to get funding to start spending money on inspections?

The bank would probably replace the roof and add the value into the asking price. I could do the siding – probably by next summer I’d be able to afford it, along with the windows. The flooring would have to be done immediately, and I think I could afford that. The foundation work would have to be put off indefinitely… pray for no earthquakes! The well might be in fine order, and the furnace could be disconnected in place of baseboard heating if necessary. There is a wood-burning stove.

Logic tells me that this is a job for someone with significant financial backing. Emotion tells me it’s my chance to homestead. What do I do, oh what do I do?

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