Would you purchase a home that you could afford, and still live in the current home you have now. The catch being the house you want to purchase is from the 1780's and needs to be completely gutted. From floor to ceiling, plumbing, electrical, new roof, siding, heating system. Would you? This massive overhauling would probably cost between $50,000-$100,000 dollars and would take 2-3 years for it to be completed, or longer depending on your financial situation. The best part is a property currently on the land pays $1,000 in rent, so it would help pay for the rent of the property you purchase.
Just curious what others think. Of course if you haven't guessed, I am talking about us. The thought has crossed our mind. Only, and I mean only if the price was right. The sellers have had the property on the market for almost 3 years. It would literally be a "as we can afford it" type project. The house is huge, with a huge yard, close to Jason's job. The idea is of course appealing, but, the question is...What would you do?