GON
$100 Site Donor 2024
Hot Springs, South Dakota
Thoughts on trying to complete this barely started home?
- Thread starter GON
- Start date
Hot Springs, South Dakota
Talk to the town permitting office. They should be helpful and tell you if permits were denied and why.
We can't build septic/well on lots here under 5 acres. They may have found that out too late.
We can't build septic/well on lots here under 5 acres. They may have found that out too late.
Here is a link to the property. https://www.zillow.com/homedetails/Waterview-Rd-LOT-M-Hot-Springs-SD-57747/2083862627_zpid/
We built our first house. I was the general contractor. The very first thing that happened was the surveyor got the elevations wrong resulting in the foundation being dug in too deep. The foundation people said they'd do whatever was necessary to make it right. And they tried but I spent the next 10 years dealing with that problem. My high lot was suddenly marginal for drainage, had to worry about outside wall finishes and soil elevation, etc. etc.
Unless you're really happy with that foundation, either walk away or knock it down and start over.
I will only add that I will never, ever build another home using a construction loan. If you've never done it, it is a HUGE pain. It will take up a lot of valuable time, and you'll be paying interest (pretty hefty interest around here) on the loan funds as you go as well as extra for the bank's inspector (or whoever they contract) for each construction loan draw. The interest and inspections really add up by the time you're done.
This brings up another point. Most locales require septic approval first before any construction. There should be plans. Then again there are exceptions.
Without knowing the details in this market, it is impossible to put a value on this property. You need a local expert to help with that. I would say, 400 days on the market says something. If I was on your shoes, I would keep an open mind, find out ALL the details that are keeping it from being sold and if it's workable, make an offer. But any offer would have to be a heck of a good deal for you before I would consider making it. Too many unknowns here.
GON
$100 Site Donor 2024
We were going to pay cash- that was the motivation. Own the lot, foundation poured, electric and water on-site. Pay for the septic system, framing/roof. I would do the plumbing and electric. Ranch home, so no load bearing walls. All the electric and plumbing from the basement (except ceiling lights, exhaust fans, etc). Biggest thing the wife wants is open floorplan and high ceilings. If the foundation was a square 1500-2000 and a at grade garage pad, I am really working hard to make this work. The foundation looks well under 1500 sq feet.
We rented a VRBO in Lubec, Maine in 2016. It was a ranch, pretty simple open design. It was made bigger with the vaulted ceiling, and windows all along the living area that faced the ocean. We would just try and duplicate this unfancy but really comfortable design. I was able to find pictures of that Maine "cottage".
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You can get 5 ac here for that. No power or water to it though.
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My wife and I spent two weeks in Maine. Coastal Maine has a feeling to it that I've never felt anywhere else. It's like stepping back in time. We loved every minute of it. It was the first vacation I ever took where I really, really never wanted to go home. We both miss Maine and that last picture makes me miss it even more.
If you're paying cash, and it's in the right place, I'd consider it. Like others have said - gotta be careful and find out why the previous owner walked away. Could've run out of money/divorce/etc. Nothing obvious comes up that early in the construction. I assume they had (or HAD to have) the land perk tested for a septic system / an alternative system design approved prior to even beginning construction. You know what they say about assumption, though.
Congrats on your soon to be retirement!
GON
$100 Site Donor 2024
We would love to live in California. Just don't feel good retiring in a state with huge public pension entitlements. And the laws/ statutes/ regulations, are all of concern. I know why California is such a popular and populace state. Great weather, mountains, ocean, skiing, desert- you name it California has it. The decisions by lawmakers are reasons we are looking at a place like South Dakota over places like California, Colorado, New Mexico, etc.
I’d value the property as a knockdown and make an offer accordingly.
Have you taken into account access to medical care? Not an issue now, maybe, but soon.
I don’t think building custom is necessarily a nightmare. You just have to find a quality builder and get away from the low-bid mentality. Not saying that money should be no object. Just can’t be the paramount objective.
Have you taken into account access to medical care? Not an issue now, maybe, but soon.
I don’t think building custom is necessarily a nightmare. You just have to find a quality builder and get away from the low-bid mentality. Not saying that money should be no object. Just can’t be the paramount objective.
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GON
$100 Site Donor 2024
Thanks. The biggest thing my Wife wants is open floorplan (second is high ceilings). She doesn't care about how many bedrooms, how much square feet, etc. Just open floorplan with high ceilings. Believe it or not- that is a very hard combination to find. I was searching Amarillo, TX area also as it is in the one day drive to Denver. Almost all homes under 500k are eight foot ceilings and not open floorplan. Same in most of South Dakota, and Wyoming- these are the states we are targeting.
Maine was awesome. If we didn't have grandkids in Denver....... Maine would definetly be on out list, except they are allowing marijuana... I don't care about what people smoke- as long as the government has all its entitilements fully funded and is not borrowing to fund them/
GON
$100 Site Donor 2024
Great question. The Realtor states the are has one of the best VA hospitals in the entire USA (I did not verify, validate, or accredit his statement).
Is your current location not an option?
GON
$100 Site Donor 2024
Utah is awesome, but real estate is just very expensive. Our current home does not allow parking vehicles outside overnight, and any lot that can handle a pole barn seems to be well over 1 million. I know that seems hard to beleive, but it is a crazy hot market in Utah.
I would not complete somebody else's project. Nothing good can come of that. I don't believe this will somehow reduce costs, give a better result or speed up development.
In my case, I need a ranch style house and I need to avoid stairs. My retirement house will not have a basement, won't have the associated musty smell/mold problems and will have enough room for a wheelchair or cart. My Florida house is this way, and it's glorious. My PA rental house is not, and I hate it.
It's nice to think you'll be able to climb stairs forever, but it's not so. As we age, getting to the washer and dryer in the basement, or parking below and carrying groceries up becomes increasingly difficult. I believe a retirement house should be designed and configured so one can live there for all of retirement. I promise that many people go to nursing homes because they can't care for themselves, because they did not think ahead.
In my case, I need a ranch style house and I need to avoid stairs. My retirement house will not have a basement, won't have the associated musty smell/mold problems and will have enough room for a wheelchair or cart. My Florida house is this way, and it's glorious. My PA rental house is not, and I hate it.
It's nice to think you'll be able to climb stairs forever, but it's not so. As we age, getting to the washer and dryer in the basement, or parking below and carrying groceries up becomes increasingly difficult. I believe a retirement house should be designed and configured so one can live there for all of retirement. I promise that many people go to nursing homes because they can't care for themselves, because they did not think ahead.
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