First Home... Your Thoughts
 

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2 story Farm House sits on 5.53 acres of farm land. 5 bedroom, 2 bath, hardwood floors, open kitchen, newer addition on back side (1 story) Attached/heated 30'x36' garage recent laundry room, and lower bathroom renovation.
-We will tear the tin cheap porch off and replace with a nice shingled one with colums and a nice wooden railings/bannisters along with new windows and siding

1 Silo
1 Milk parlor / barn 20'x93'
1 barn 40'x60'
1 barn 40'x114 (It opens to 48'x70' where the stalls are).... so its around 5K sq ft.
1 lagoon that could be used as pond since its so old (25+ years of not being used)
(all barns are steel roof and sides, with 4'high wood on the sides) The large barn 1/2 of it are stalls but still concrete in between them and in the open part. All 3 are in good condition but will need minimal cosmetic work (repair missing, torn/dented steel) but could be used right away.

asking price of $149,000

No neighbors to the north or east (farm land)
1 neighbor to the west and 1 neighbor to the south with a new house across the road. I know both neighbors and they are nice people. My uncle with a Horse farm is to the south east maybe 1/4 mile away.

The house is on a dirt road but only 1/4 mile from a main paved road into Pittsford, which "Town" itself.... if you call it that is only 1/2 mile away. so its in a good location... Pittsford by the way has around 2K people give or take.... Its a one blinking light town.

Any thoughts or suggestions??? whats a decent price? Pittsford isnt the highest income town. Ill get some more pics of the barns later and house when we tour it with the Realtor.

Thanks!!
Ian

thats a hell of a prices. it would be 3-5 times that by me.

You can't even buy the land over here for that.

I'd be worried about the additions. I'm in a home where the PO did all the additions and it's amazing what you find when you're trying to straighten out their messes.

These older homes can be nice to get into but you should be ready to work your butt off to make them right and keep them right.

Michigans economy is in a pile so its a good time to buy:U: bad time to sell though:ouch:

My biggest kick is the house is in good shape and the largest barn is around 5000 sq ft!!! Id first off tear out the stalls and open it all the way up:U: the 40x60 barn needs tin on the roof in one corner but thats no problem.... Id tear the milk parlor down (brick) and use the tin off its roof for the 2nd barn then Id still be left with a 20x47 wood frame barn with concrete floor...

Oh it also has a 7'x6.6' mini barn thats inbetween the barns and house...

Sounds good from my perspective.
***Definitely ask your Realtor for comps on the property.***

He/she should be able to show you exactly what other properties have sold for in the past 6 - 9 months.

That farm in Chester Co. PA would be close to $690,000.00 even if it needed loads of work.

well if you dont want it let me know i will buy it

ACTUALLY......... I went on the county tax assessment page and got some information...

Sale date 6/26/02 sold for $110,000
sale date 11/25/03 sold for $152,000

reason for recent sales are the farmer passed away and the land was parceled out then the guy that bought all the land sold the house and 5 acres to the single lady with kids..... SHE has had it for sale for around a year now and moved out in the fall of this year...

The property assessment is $82,520

that is still a good deal in my book if you are getting a house and some land i would buy it even if the house needs some work. my thing is we aren't producing any more land so if you have a chance to buy land cheap i would do it

Thats a bargain (as long as the foundation and other important things are sound)....the huge garage and no neighbours thing woulda sold me on the deal.

Can't find land like that around here unless your ready to pay $500K +