oookay update:
Maria and I looked at 2 houses today. I have access to the MLS listings through my father's account. It's VERY hard to find what I want:
DISCRETE GARAGE PARKING
Privacy
land (.5 acres and up)
moderate NJ taxes
location
value
I waited till now to make any moves, but there are 2 houses currently that fit my criteria.
#1 is a nice tiny house:
http://www.trulia.com/property/3051689591-551-Powerville-Rd-Boonton-Township-NJ-07005
Pros:
Move in condition
2 car parking under house with small workshop area off the side of the basement garage.
property is beautiful and pretty level. Great location
Cons:
Small, no dining room
2 car under house garage.
What I would have to do to make it perfect:
Build another 2 car garage, add a dining room and master bedroom. Maybe all at once off the side of the house, or a separate 2 car garage and raise the house and put the master bedroom and another small bedroom upstairs, blow out the bottom into a dining room.
#2
A dream house, neglected for 30 years.
http://www.zillow.com/homedetails/67-Two-Bridges-Rd-Towaco-NJ-07082/39448368_zpid/
Pros:
Brick house, poured concrete foundation. 5 year old roof. Large house, acre of land.
4 car garage off the side of the house, which is a pair of slightly oversized 2 cars, room to work on any car in any spot. Basement has a couple shop rooms.
House comes with 3 sheds, 2 are okay and decently sized. One is really big but hanging precariously off the side of a cliff. I can't understand why someone put it there, it would have to be torn down, it's very dangerous and old looking, must have been really nice 30 years ago, maybe they used it as summer sun room or something.
The layout of the house could be made really damn nice. It's a split level, but not a typical jersey split.
What I like is that the main living level has the kitchen / dining / living room. But you can really easy blow out the wall dividing the kitchen from the other 2 rooms and have a really nice open layout. I fell in love with the open layouts after visiting friends in AZ, I would love to be able to be in the kitchen and see everyone in the dining room and the living room when I have people over.
There was honestly at least 15 closets in this house. There was one in every room, and in every hallway. It was nuts. Really nice for keeping the house tidy looking. There is room to put everything away. The top floor is one large hangout room, can be converted into a nice master bedroom or left as a big play / tv room thing.
acre of property
Cons:
Nobody has done a thing to this house in 30 years.
all the carpets are trash, the old man who owned the house died, his wife is 91 and out of the house now. 1/4 of their shit is still in the house, the kids haven't done SHIT to try and clean it out and look presentable. It's really hard to envision this house all fixed up because it's so gross inside from neglect.
TONS AND TONS of TLC will be needed. Some actual work work will be needed, like at least 1 new bathroom and a whole new kitchen.
Acre of land (taxes), while almost half the acres is unusable because it's basically a massive cliff. But because it's on such a hill, the neighbors are like totally out of sight. They are up or down a huge hill.
The driveway is a bit strange. Pulling a truck/trailer in would be a chore, but I think this could be fixed eventually.
Almost double the taxes of house #1, possible to have them lowered since the value of this house has gone down so much.
Oil tank in ground is still there, new one already installed out of the ground, but old one still there. Seller may be removing this on their dime.
Septic is likely original from 1960, ugh
Community well is being abandoned, city water being installed next year, $10,000 hookup fee. ugh
House #2 is a massive headache, but since we are in no rush to actually move in, and we have enough cash to move than cover a nice down payment and drop $50-$80k into updating the house right away, this may be the way to go. In perfect shape I think this house is worth closer to $450k
If I can get it for $275 or $300k, I think it's a solid investment.
House #1 (all tan house)
http://binged.it/vWMgFO
House #2 (grey roof)
http://binged.it/rAI4VC