Case #527, titled “temporarily cramped”, finds homebuyer Fred Frigozia, aka ‘Freddy the Fridge’ due to his rather large 6 ft. 10 inch, 400 pound frame, and unwise habit of dressing completely in white, which on occasion has created some awkwardness as unassuming shoppers check out his body for the optional ice dispenser should he locate himself in the appliance department of the local mall, somewhat undecided.
Fred just married Freda, a petite lady, and their plans are to have children, with these offspring likely having careers as either ballerinas, or starting linemen for the Dallas Cowboys. Fred and Freda are at a turning point in their lives. What’s at stake? Fred’s a big guy. Big guys require space, and with the family about to grow, Fred and Freda are concerned that their possible purchase of a 1000 square foot bungalow that’s most recently come up for sale, won’t suit their needs in the long term.
Now, why not just bypass this rather smallish home and continue the search for something else? Although the home is small, and in need of repair, the yard is huge, with the home beautifully located in an older community close to schools, the hospital, and various other resources. So, even though this existing home would receive a poor grade if judged on its own merit, the fact that the location is terrific, boosts this home’s grade up to one of great potential.
If money isn’t an issue, then the strategy regarding such an investment would be a no-brainer. Buy the property, tear down the home, or attempt to sell it to somebody looking for a pre-built hunting cabin, then erect a two story home on either the existing, or modified foundation walls.
In Fred and Freda’s case, the money would be available to purchase the property, with another 20-30 thousand left to put towards renovations. So, the existing needs of the home, including minor siding, kitchen, bathroom, and back deck repairs, could be accomplished well within their budget, but as far as tearing down and rebuilding, well, that’s a dream that would only be years away.
So, what to do? In Fred and Freda’s case, the answer’s as plain as the heel on Freddy’s size 15 boot. If you’re old, you base your purchases on necessity. If you’re Fred and Freda’s age, you probably have the energy, and hopefully a lot of years ahead of you, to make a purchase based on potential.
My suggestion: Buy the little home with the great lot and establish a five-year plan. In the interim, accept the cramped conditions, and slowly start making this place a little more comfortable.
The good thing about owning a home with potential is that it forever holds its value, with generally every penny put into the home recouped in the event of a sale.
Where to start? Well, the four exterior walls are the only untouchables. Other than that, and with the OK of a local engineering firm, you could possibly eliminate the wall that often separates a small kitchen from small living room. With a little ingenuity, two small rooms can add up to one big space. The same goes for the bedrooms. Three bedrooms can be reduced to two, with the master bedroom possibly gaining its own bathroom in the transition.
Next, look to the outdoors. Your new acquisition may not be able to handle you hosting the entire clan for Christmas dinner, but there’s no reason why you couldn’t have the folks over for Canada Day. If indoor living space is limited, then create an outdoor living area by replacing the existing back door and 4’x6’ laundry hanging platform, with a patio door and deck that spans the width of the home. Cover this deck area with a pergola to help shade the sun, or leave a portion of the space available to accommodate a screened in gazebo.
With potential comes greatness.
Case #527 closed. Good building.