When we first moved to Michigan, one of the first things I realized was how much lower the cost of real estate was. Living on 12 acres of wooded hills I can only speculate what the property value would be if we were to pick that up and place it in San Diego.
The economy hasn’t done anything to help the price of real estate, but how can I complain? We just ran into a deal that was just too good to pass up.
When I first posted these pictures on Facebook, I was a little embarrassed. Afterall, the house isn’t in the best condition. But then I realized no one realizes the deal we got. So let me take a moment to share. We found this house in the neighboring town for an asking price of $18,900. It was a foreclosure. By the time we went in to look at the house, the price had dropped to $14,900.
We’ve been wanting to move into town for a while now. While we both love our 12 acres of woods, it was time to move off the mountain. With the price so low, we were able to buy the house for cash. Unfortunately we took all available cash from our savings, but it is definitely worth it.
We now have a buyer biting on our 12 acres, which means we’ll be clear of a mortgage within the next 3 months, and completely debt free within the next 2 years.
While the house isn’t the most appealing, there’s a ton of potential, and the majority of the work is strictly cosmetic. Having handy and creative people in our family will definitely pay for itself as we start to take on these projects. It will definitely be worth it.
Check out the new house pictures.
