Is it realistic for me to buy this fairly priced house?

Question

Facts: I own my own home worth more than the one I want a few blocks away. I've restored mine. Both are about same age. I have a terrible financial situation beyond my control where I'm forced to consider options. Other house is much cheaper, better suited for my sudden handicapped position. Other house is in terrible location where area is growing, cornered at high traffic noisy intersection, extremely loud, and many undesirables passing through as well as pesky sales people, constant strangers knocking at that door for a variety of reasons. Financially speaking, it would be a better choice for me. Apt living is not a logical choice as my current situation does not allow for me to be consistent in rent or house payments. I'm trying to be realistic and my present medical/physical/mental condition is result of sudden stroke that limits my abilities. 4 months ago, I lacked the ability to talk and walk. Lost my job and trying to go back or find another. To me, no logical, sensible person would hire me in my present condition. I'm highly intelligent,but it comes and goes. I was expected to die a few months ago, my miraculous recovery is ongoing. My real problem is that realistically and legally, I'm not the person I was. Currently, this other house is much better for me in every sense, but in the future and considering my current physical and mental condition it could be a bad choice. I'm left w/out many options but gov't assistance, VA benefits, etc. are being looked into.

? · Answer

if you are thinking wisely and this other house is better suited for your current physical condition I don't think there is an option to consider, no doubt you can sell what you have with some profit which will give you some leverage
the problems you mention can be mitigated easily enough and should not be your consideration, your health and physcial abilities out rank them

curtisports2 · Answer

Your immediate issue is affordability. Get out of the house you can't afford and put aside as much of your equity as possible. I would rent temporarily in a less-stressful living environment, and when you recover to a point where you are capable of owning again, look into buying then.

linkus86 · Answer

No.  While its pretty obvious you identify the similar house to be another project you can tackle much like your present one that you have restored, you do so in denial of your present abilities.  And your present physical condition should be your priority, thus finding a less expensive property that doesn't require maintenance logically makes the best sense.  Perhaps not renting, but by buying a condo, paying cash since you won't be able to secure a mortgage without a job (valid source of income).

glenn · Answer

In your situation you could be taking an action in sort of a panic rather than based on sound thinking. I would find a person that you trust to sit down and help you work out the numbers. I bet this move will not really solve any problem and be an expensive mistake.

Slumlord · Answer

"I am highly intelligent but it comes and goes"  - Well put and I know how you feel.

In regards to the specific question you just have to weigh all the pros and cons and make the best decision you can.  It sounds liike the other hosue and pluses and minuses and without really knowing the specifics we can't say which would ultimately be best for you (heck even knowing the exact specifics we might not be able to say).

This is one of those decisions I'd definiately sleep on (not sure how quickly you have to decide) and even then the right answer may not be clear - just do the best you can with the info you have.

Is it realistic for me to buy this fairly priced house?

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