Property with an existing House

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  • wcd

    Grandmaster
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    Dec 2, 2011
    6,274
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    Off the Grid In Tennessee
    So we have been looking for more real estate. We found a tract yesterday with a house on it. Ideally we wanted just land but this place came up with a house on it. Its in a nice location on the plateau. Acreage is in line with what we are looking for. We are going to put in an offer, but we are wondering how to come up with a figure.

    Granted there is power at the house, but the lines also run along the Northern border, so the power at the house no big benefit, no rural water. So really i have no idea how much it cost to demo a house? I am sure the old Aluminum siding could be sold for scrap. The house has no central heating. So in my mind the house is a liability more than an asset.

    Thoughts
     

    rem788

    Marksman
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    Apr 19, 2009
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    indy west
    By no rural water , do you mean there is no well? Is there a septic system? I would probably offer the value of vacant land less the estimated demolition cost for the house. If there is a well and a working septic system, that would change things as these can be costly to install. Has the house been vacant for several years? If so, the condition may be as you stated, a liability as opposed to an asset. Good luck.
     

    wcd

    Grandmaster
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    Dec 2, 2011
    6,274
    113
    Off the Grid In Tennessee
    By no rural water , do you mean there is no well? Is there a septic system? I would probably offer the value of vacant land less the estimated demolition cost for the house. If there is a well and a working septic system, that would change things as these can be costly to install. Has the house been vacant for several years? If so, the condition may be as you stated, a liability as opposed to an asset. Good luck.

    Basically no water from county, Well is there but owner states pump struck by lightning and does not work. The house has been vacant for 3 years. Per the county when the house was built in 1960 it was rated for two bedroom one bath. So it would need a new septic system as well.
     

    AGarbers

    Expert
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    24   0   0
    Feb 4, 2009
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    Martinsville
    There are so many variables that it's hard to give you an answer. A pump can be replaced for around $1,500. If maintained properly a septic should last indefinitely. If the house was built right in the first place and still has a solid foundation, no termite damage, and a good roof, it can be used as a base to expand. I have seen houses that many thought should be dozed turned into nice homes. It all depends on your skill level, spare time, and availability of funds.
     

    alabasterjar

    Sharpshooter
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    3   0   0
    Apr 13, 2013
    613
    28
    Steuben County
    I'm in NE Indiana, your costs may vary...a lot of unknowns in your question, but for a single story home on a slab, demo costs are probably in the $3k range. for a 2 story on a basement with complete removal and backfill, you are probably in the $15k range. In my neck of the woods, excavating contractors also bid on demos; I'd be surprised if you couldn't get a more regionally accurate estimate in 15 minutes of calls to local contractors.
     

    fullmetaljesus

    Probably smoking a cigar.
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    Jan 12, 2012
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    Indy
    As I understand it, sometimes you can do a controlled burn of buildings with the fire Dept present to act as a training opportunity.
     

    wcd

    Grandmaster
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    Dec 2, 2011
    6,274
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    Off the Grid In Tennessee
    As I understand it, sometimes you can do a controlled burn of buildings with the fire Dept present to act as a training opportunity.

    This my wife called the county today, and that would be a viable option. Its on a crawl space other option would be to take the old school aluminum siding off, dispose of the shingles and take a front loader to the rest. We checked and no permits needed to demo.

    Kind of scary but i think we are going to go for it.
     

    Cameramonkey

    www.thechosen.tv
    Staff member
    Moderator
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    35   0   0
    May 12, 2013
    31,686
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    Camby area
    As I understand it, sometimes you can do a controlled burn of buildings with the fire Dept present to act as a training opportunity.

    Good luck with that. Boss' dad's house needed torn down. (he died due to complications from a house fire caused by smoking while using oxygen) Called FD and they said "Sure! We would LOVE to! But first here is the unreasonable list of demands before we will burn." They would have had to pay to strip the shingles and vinyl siding off beforehand due to EPA type issues. Instead she let them cut holes in it and play pretend fire with smoke bombs before having it bulldozed. (mask up and search for dummies)

    When we tore down grandma's outdated house it cost mom about $5-7K to level it. (2 bedroom ranch built in the 30s) But she had connections, so it probably should have been closer to 10k.
     

    churchmouse

    I still care....Really
    Emeritus
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    187   0   0
    Dec 7, 2011
    191,809
    152
    Speedway area
    Good luck with that. Boss' dad's house needed torn down. (he died due to complications from a house fire caused by smoking while using oxygen) Called FD and they said "Sure! We would LOVE to! But first here is the unreasonable list of demands before we will burn." They would have had to pay to strip the shingles and vinyl siding off beforehand due to EPA type issues. Instead she let them cut holes in it and play pretend fire with smoke bombs before having it bulldozed. (mask up and search for dummies)

    When we tore down grandma's outdated house it cost mom about $5-7K to level it. (2 bedroom ranch built in the 30s) But she had connections, so it probably should have been closer to 10k.

    OP s in Tenn. and the property is in the outback.
     

    Cameramonkey

    www.thechosen.tv
    Staff member
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    35   0   0
    May 12, 2013
    31,686
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    Camby area
    Are you still fighting that issue..??
    Yuuuup!

    We were assured we could probably (maybe) get that permit by the end of the year or so. :xmad: (applied for in early June)

    EDIT: let me take that back. "assured" is probably too strong of a word. "might" is probably more appropriate.
     
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