I got up this morning and was perusing the local Sunday paper when my eye spotted something on the Classifieds/Real Estate section.
You see, I have always had this dream of taking an old building and turning it into a home.
At first, this dream revolved around taking an old barn and restoring it/converting it into a house.
And then, since we live in an area without many old barns, the dream changed into taking an industrial space(old factory, school building, etc.)and turning that into a home.
But old industrial spaces are mostly much too large to do this with and necessitate turning into multiple units of housing, like condos or apartments. Since I don't have the resources(either financial or construction skills)that idea quickly faded from becoming a reality.
Since the last 10 years or so around here, as the population has decreased, the Catholic church in this area has been closing and consolidating parishes and church buildings and then putting said real estate up on the market for sale.
So the dream changed to buying an old church property and making it into a home.
This morning the stars may have aligned on this dream.
Hubs and I are within 4 years of his retiring and 4 months within having to remain living in this school district anymore.
We preferably wish to retire to someplace warmer but the place I found may work anyway.
I found a property for sale.
This one.....
It isn't brick but it's smaller and in fairly good shape.
It's in a small community, on the main road and not one of the large cities around here.
But it's accessible to the larger cities.
And even better, this also comes with the church......
It's the old rectory, a 2 story home with a garage behind. You can see the side of the church building to the right in the photo. There are mature trees and bushes and a small garden area between the rectory and the church.
The size of the land these buildings sit on looks to be multiple city lots...3 or 4 lots.
It's the price of this property that had my juices flowing.
It's being offered for $49,000 for all.
The real estate tax information is not available, since this is a religious property and wasn't taxed by the state/municipality but similar homes for sale in this area have estimates of $1,200 a year. I am figuring double that since this listing contains 2 buildings.
The church obviously will need remodeling/renovating to turn it into a home space.
The rectory house will need extensive renovation as it has been basically gutted from what I read.
While it's not going to be cheap(hell ya I can do this on the frugal side though!lol), it's sort of like getting a "new" house, except that the outside structure is already in place and old. I can get the kitchen the way I want it and lay out the interior space/rooms as I want in the church.
The initial plan is to remain living here(it's only 11.5 miles away), renovate the church building, then move in and then have the last of the work done here and sell our current home.
Once we move to the church, Hubs can still commute to work from there. It would add an additional 10-15 minutes on his commute but doable for the 4 years he has left to work.
Once we move and sell, we can work on getting the rectory house livable/renovated. After that, we can either sell or rent it out. Since the property is zoned R2, we also have the choice of turning the rectory house into a duplex and renting or selling it as that type of housing situation.
After we sell or rent the rectory house it will help us recoup any money we invested into the reno and help pay the taxes. Eventually when we recoup the money invested we can have an income stream in retirement from it. 8-)
As for Winters living in this church, once Hubs retires, we will buy a used RV and spend the ugly months of ice, snow and cold in parts South of here, either visiting our children or bopping around to wherever we feel like going.
I am trying not to get all excited but it's hard not to!
I've already contacted the agent and am working on going to have an "in person" look around and ask a billion questions about this property and snap my own photos.
After that and having a discussion with Hubs on this I'll call a construction type person for a consult and some advise on whether this is a plan I can green light or not and proceed to talk money with the realtor.
We would be paying cash for this of course..... ;-)
One step at a time, trying not to get my hopes too high at this point, but thinking this might be the way we need to head on down the road to retirement.
So what do y'all think of this?
Sluggy
You see, I have always had this dream of taking an old building and turning it into a home.
At first, this dream revolved around taking an old barn and restoring it/converting it into a house.
And then, since we live in an area without many old barns, the dream changed into taking an industrial space(old factory, school building, etc.)and turning that into a home.
But old industrial spaces are mostly much too large to do this with and necessitate turning into multiple units of housing, like condos or apartments. Since I don't have the resources(either financial or construction skills)that idea quickly faded from becoming a reality.
Since the last 10 years or so around here, as the population has decreased, the Catholic church in this area has been closing and consolidating parishes and church buildings and then putting said real estate up on the market for sale.
So the dream changed to buying an old church property and making it into a home.
This morning the stars may have aligned on this dream.
Hubs and I are within 4 years of his retiring and 4 months within having to remain living in this school district anymore.
We preferably wish to retire to someplace warmer but the place I found may work anyway.
I found a property for sale.
This one.....
It isn't brick but it's smaller and in fairly good shape.
It's in a small community, on the main road and not one of the large cities around here.
But it's accessible to the larger cities.
And even better, this also comes with the church......
It's the old rectory, a 2 story home with a garage behind. You can see the side of the church building to the right in the photo. There are mature trees and bushes and a small garden area between the rectory and the church.
The size of the land these buildings sit on looks to be multiple city lots...3 or 4 lots.
It's the price of this property that had my juices flowing.
It's being offered for $49,000 for all.
The real estate tax information is not available, since this is a religious property and wasn't taxed by the state/municipality but similar homes for sale in this area have estimates of $1,200 a year. I am figuring double that since this listing contains 2 buildings.
The church obviously will need remodeling/renovating to turn it into a home space.
The rectory house will need extensive renovation as it has been basically gutted from what I read.
While it's not going to be cheap(hell ya I can do this on the frugal side though!lol), it's sort of like getting a "new" house, except that the outside structure is already in place and old. I can get the kitchen the way I want it and lay out the interior space/rooms as I want in the church.
The initial plan is to remain living here(it's only 11.5 miles away), renovate the church building, then move in and then have the last of the work done here and sell our current home.
Once we move to the church, Hubs can still commute to work from there. It would add an additional 10-15 minutes on his commute but doable for the 4 years he has left to work.
Once we move and sell, we can work on getting the rectory house livable/renovated. After that, we can either sell or rent it out. Since the property is zoned R2, we also have the choice of turning the rectory house into a duplex and renting or selling it as that type of housing situation.
After we sell or rent the rectory house it will help us recoup any money we invested into the reno and help pay the taxes. Eventually when we recoup the money invested we can have an income stream in retirement from it. 8-)
As for Winters living in this church, once Hubs retires, we will buy a used RV and spend the ugly months of ice, snow and cold in parts South of here, either visiting our children or bopping around to wherever we feel like going.
I am trying not to get all excited but it's hard not to!
I've already contacted the agent and am working on going to have an "in person" look around and ask a billion questions about this property and snap my own photos.
After that and having a discussion with Hubs on this I'll call a construction type person for a consult and some advise on whether this is a plan I can green light or not and proceed to talk money with the realtor.
We would be paying cash for this of course..... ;-)
One step at a time, trying not to get my hopes too high at this point, but thinking this might be the way we need to head on down the road to retirement.
So what do y'all think of this?
Sluggy
