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Move or re-invest?

The reason why I stated higher numbers is that if we stayed, I want a wish list of things to be done at once. See where the price comes down and scale back if needed.

When doing something like this, do you get a construction loan and then have the ability to refi it into a new mortgage loan?
 
DBQR4CY said:
The reason why I stated higher numbers is that if we stayed, I want a wish list of things to be done at once. See where the price comes down and scale back if needed.

When doing something like this, do you get a construction loan and then have the ability to refi it into a new mortgage loan?
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Straight cash homie.
 
That is a bummer where your garage is at which gives you zero options. You could build out from the front possibly but it would look weird from the curb. With the size of that lot why not just build yourself a small shop at the back of the lot if your neighborhood covenant allows it? Definitely have some possibilities for adding onto your house for the other space reasons you mentioned.
 
CYdTracked said:
That is a bummer where your garage is at which gives you zero options. You could build out from the front possibly but it would look weird from the curb. With the size of that lot why not just build yourself a small shop at the back of the lot if your neighborhood covenant allows it? Definitely have some possibilities for adding onto your house for the other space reasons you mentioned.
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Again, with a van and a truck the garage is extremely tight. We a camper so as long as we have that I'll have a truck. One of the reasons to build a detached garage is that a new truck could be bigger than my current one, the Cybertruck is a major consideration. Lol. If not that then probably a Ram. A place to store the kid toys and just freely open doors would be nice for the current garage. Current length of garage is okay, it's the width. (Yes I know there's a joke to be made there)
 
Sell your house and buy an existing one. You spent most of time talking about needing a bigger garage with more space as kind of a side note. You’re gonna spend a bunch of money upgrading your current house and in the back of your mind you’re going to be swearing every time you open a car door.

Find out if the city would let you pave a lane from the curb to a garage on your back yard. I’m not sure a lane on the north side of your lot would help the resale much, even Il with the extra garage space. Having a paver type lane would suck in the winter.

I’d say find one similar priced to yours and spend your money upgrading a footprint that makes sense for what you want in the end.
 
You like your location, your lot, and your neighbors -- those are valuable things!

They say you can change a lot of things about your house, but not the location!

Stay put.
 
AgronAlum said:
Sell your house and buy an existing one. You spent most of time talking about needing a bigger garage with more space as kind of a side note. You’re gonna spend a bunch of money upgrading your current house and in the back of your mind you’re going to be swearing every time you open a car door.

Find out if the city would let you pave a lane from the curb to a garage on your back yard. I’m not sure a lane on the north side of your lot would help the resale much, even Il with the extra garage space. Having a paver type lane would suck in the winter.

I’d say find one similar priced to yours and spend your money upgrading a footprint that makes sense for what you want in the end.
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I'll be parking a truck in the detached garage and I have a snow blower. So snow won't be a problem. Also, if we would go this route resale isn't going to be taken into consideration. We go down this path and we will be staying put long term.

We have had our realtor set up for emails for about a year now and I know the homes posted on Zillow very well at this point. The problem right now is that finding a lot close to the size of ours in new construction is you're paying $325k and usually an unfinished basement and that 3rd stall in the garage is a glorified shed because heaven forbid that make it big enough to park something there besides a 90's Civic. On the flip side of that, an older home built in the 80's or early 90's will be in the same price range but the owners think the house is updated because they slapped some granite on top of original heavily dated cabinets. They ask $25-$30k more than what they should be asking when some much work is required to bring the home to modern day.
 
DBQR4CY said:
I'll be parking a truck in the detached garage and I have a snow blower. So snow won't be a problem. Also, if we would go this route resale isn't going to be taken into consideration. We go down this path and we will be staying put long term.

We have had our realtor set up for emails for about a year now and I know the homes posted on Zillow very well at this point. The problem right now is that finding a lot close to the size of ours in new construction is you're paying $325k and usually an unfinished basement and that 3rd stall in the garage is a glorified shed because heaven forbid that make it big enough to park something there besides a 90's Civic. On the flip side of that, an older home built in the 80's or early 90's will be in the same price range but the owners think the house is updated because they slapped some granite on top of original heavily dated cabinets. They ask $25-$30k more than what they should be asking when some much work is required to bring the home to modern day.
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That 25-30k is usually due to landscaping more than anything. Not everyone wants to wait 20 years to have trees that are somewhat grown out. We build on vacant and kids never had a tree climb.
 
Take my input with a grain of salt since I fortunately live in an area where you can buy a lot of house for $80/sq. ft.

I'd be patient and buy a house that works for you from a practicality standpoint. I don't know that you actually want a detached garage. It sounds fine when you do it and yes, it's cheap, but it's different once you're done. I would be patient, know what you want, keep your eyes open, and be ready to jump. From what I know of the market around Des Moines, you're probably going to be able to sell your house in a week if it's priced somewhat reasonably. I've got 3 different sets of friends that have done it very recently.
 
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