Tuesday, May 15, 2012

To Build or To Buy



I mentioned after selling our house, we were going to rent for a year and take our time deciding what the next step would be.  Here are some of the questions we are asking ourselves.

Do we build?
  Do we buy a new "forever" home?
  Do we buy an older home and fix it up? 
Do we have "one more" house to whisper to, in us?


If it is our last home, where do we want to be?  North Carolina?  Tennessee?

One of the issue we are facing is that we own a gorgeous piece of property in the mountains.  Here it is, in the picture below.

Summer


 Fall

Aren't these the most gorgeous views?  The blue you see is a small camp lake.  Can you imagine seeing this every morning?  We could too.  That is why in 2004, we bought it.  We had planned on building on it, but life got in the way.  

Fast forward 8 years.  We still have this property.  We actually tried to sell it for a few years, but with the recession and banks tightening their lending belts, it was hard to sell.

If we do build on this property, it will be to live in it for a few years and then sell it.  It is much easier to sell a house, than a vacant piece of land in this real estate market. Why sell the house, if we build?  

Well as gorgeous as this property is, it is an hour from any larger city.   We think we want our forever home to be nearer a larger city.

In the next few posts, I will tell you more of our planning and thought process.
Welcome Home,
Penny

26 comments:

Crystal Rose Cottage said...

That's very interesting....It is a beautiful piece of property and would be so wonderful to gaze out over the view below, but, I understand that feeling of being a certain age and wanting hospital care close by, just in case and you don't want to feel isolated. We are an hour from major city but we do have good medical care and some stores, although not the variety we would have from a larger city. Lots to consider! ~Hugs, Patti

Gretchen said...

I love that property and the view Penny. I know what you mean about the doctors Penny. You may not need them now, but it's always nice to know they are nearby. Hey, why isn't SC on that list too?

Gretchen

see you there! said...

Truly beautiful property. I'd be tempted to just hold on to it and build/refurbish elsewhere. Of course money is a consideration. Eventually land will sell again I think (hope).

Darla

Debbiedoo's said...

WOW Penny that sure is a gorgeous piece of property. Decisions, decisions.

Lisa~A Cottage To Me said...

Gorgeous view! It would be very hard to leave if it were me! But, I do understand the closer to doctor's thing!

Pondside said...

The view is, truly, lovely. In the end, everything has to come together if it is to be THE place. An hour from a city seems a long way - I'll be watching to see what the decision will be.

Beverly said...

I know what you mean. It has been almost twenty-two years since we moved here, but that move had a lasting impact. We had my mother's house to sell and pack in addition to our own home. Then we moved here and combined households. It wasn't easy. Even though I would now choose a house on one level, I think I just want to stick it out here.

Sharing Shadymont said...

Gorgeous property! I know this is a hard decision. Don't know what I would choose to do. Hmmmmmmmm.

Vee said...

Oh...a dilemma. It is certainly an exquisite piece of property with an incredible view.

Anita @ Cedar Hill Ranch said...

I totally understand about the house. We finally sold our North Carolina mountain house in December, but hope to buy another one when my hubby retires. It doesn't make sense to own one now when we are only there two weeks every year. We saw some stunning views in NC, but didn't want to be too far from Asheville or too remote, so I get that totally. I don't want to drive 30 minutes to get groceries and I know you don't want to either.

Diane Cayton-Hakey said...

Hubby wants to retire in a location like that with no towns or neighbors nearby. I want to have a good hospital and medical specialists nearby as we age. Your property is beautiful! Building would be a fun undertaking for you... but a lot of work too! Have fun with whatever it is you choose to do.

Muddy Boot Dreams said...

It's a big decision is't it? I know that you will make the right one for both of you. And what a piece of property that is...the view, oh the view.

Jen @ Muddy Boot Dreams

Donna said...

Hi Penny,
Sounds like a tough decision. I know you will figure out the best thing to do. The view from your property is beautiful!

Hugs,
Donna

Pat @ Mille Fiori Favoriti said...

Your property is so beautiful!

My husband and I will soon be faced with many of the same decisions, Penny. We ♥ NYC for all it offers but our children have settled far away and spending time with our grandchildren seems so sweet.

Mary said...

Well we will have some interesting conversations next week dear! There are several options open to you and knowing you you'll make the right decision when the time comes. The mountain lot is so beautiful Penny, hard not to want to build there, however distance to future required amenities have to be considered!

See you soon.
Hugs - Mary

Just About Home said...

What if you built on the property, lived in it for a few years, and then rented it out as a vacation mountain home while living elsewhere. And you could always sell it further down the road as either a private residence or a business.

Canadian Chickadee said...

You're very brave, Penny, not to mention energetic. Or maybe you're just a sucker for punishment!

I'm having trouble getting my act together enough to repaint the kitchen cabinets, never mind building or redoing an entire house!

But if that's what you want to do, you go, girl! We'll all enjoy seeing the results whatever you decide.

Kathleen Grace said...

How do you find views like that in so many homes! Pity it's so far from civilization, but I guess that is why you can look out and not see anything but mountains and trees. Whatever you do, I'm just on pins and needles to hear about it!

Jojo said...

Penny, what challenging prospects. The property is gorgeous but like you I would strongly consider the distance os city resources.guess we will travel along and wait for the big decision!

Sam @ My Carolina Kitchen said...

It is a gorgeous view and a very tempting spot to build on. You also mentioned the down side too.

I try to tell myself the older we get that property such as this was meant for weekend get-aways and not full time living because of being too far away. Maybe build a cabin that would appeal to young families wanting to get away and enjoy it for yourself for a while until you sell it.
Sam

Teresa Porter said...

Good morning Penny, I too have been on a blog break with Claudie here. We have had a wonderful time together. She flies home this sat.
I did finally post today.

Your mountain property is lovely. We too had a piece of property that we intended to build on . We didn't but one of our sons wanted the property so now he owns and wants to build one day. Your reasons for not living there is valid. It is good to be close to a city and all it has to offer.

I read about your visit to your sisters and I know you enjoyed being with them.

I'm glad your little garden is thriving. We haven't planted this year because we will be gone three weeks in June. Watering is an issue. Your hose project is terrific. Good job.

Hugs, Jeanne

injoyinmylife said...

I know what you mean. When we bought what we thought was our forever home, out in the country in Missouri we just loved it, then our bodies started giving us problems. It was 65 miles from Springfield and the best Doctors and hospital. We spent many a day in that commute so we ended up moving to a suburb of Phoenix. But... if I had my way, we'd be able to have a home in both places. It would be cool if you could have a summer home on your property. You are so smart to take your time and think of everything and weigh all the pros and cons. Also, remember to pray about it and listen to your intuition, it will tell you exactly what you need to know.

April said...

What I'd give to have that view, Penny! Absolutely breathtaking! Chris and I met and married in Tennessee...my hope is to one day make it back there...for good! Best of luck with your decision making process!

Kelly said...

That is a spectacular view. I don't blame you for wanting to build on it. Those are some good points to think about though with it being so far away. You may have to do an old fashioned pro and con sheet and see who wins! Ha!

Shelia said...

Hi Penny! Oh the views are gorgeous but I do understand being closer to town and a bigger hospital! Well, if you do build there I'm sure the home will be beautiful. I'd probably have to be pulled out by my toe nails!
Be a sweetie,
Shelia ;)

Pamela said...

Penny that is a gorgeous view!! Cant wait to hear what y'all decide to do. We keep going back and fourth on wether to start saving for a condo at the beach or to buy a piece of land in the Hill Country and build later on. I would rather buy something already built so we can enjoy it right away but hubs likes the idea of building. Who knows.