Looking for some advice. My parents and I have adjoining properties in the Alvin/Friendswood area that total 10 acres. I have 4 and they have 6. Neighborhood is outside the city limits and has no restrictions or HOA. About a 35 mile commute to downtown Houston.
They have a 2400 sq ft house that is 55 years old, never been updated but has new roof this year. AC is less than 5 years old. They had a total repipe and new electric panels within the last 10 years. They also have a 3 car garage, 2.5 car workshop, and a 27x50 metal building. I suspect they have foundation issues with the house and the kitchen, den, formals are from the 60s.
I have a 2900 sq ft house that is 23 years old. New roof, new AC within the past year. Oversized 2 car garage. Kitchen is 90s. House is in good shape, no structural issues, and has bell bottom slab. Kitchen, carpet, floors need updating but work fine. Interior and exterior could stand paint but looks fine.
The metal building is in between the houses on my parents side with a concrete driveway connecting the two places going past the metal building. The electric for the metal building is tied to my house. Basically you can drive up either drive from the street to either house, over to the metal building, and then out the other drive.
Both places have mature oak and pine trees and neither house flooded in Harvey.
We want to sell both places because my folks are reaching the point of being unable to care for the amount of land they have and its too much work for me to care for both theirs and mine too. Also would like to move away from the coast to the BCS area.
I don't want to spend any money on the places unless there is a 100% return on investment. I need the equity from my place to buy another place.
Is selling both together a decent option? Or plan on selling separate and remove the electric connection to my dad's building from my place.
Any advice on how to handle? Timeframe is about 12-18 months
They have a 2400 sq ft house that is 55 years old, never been updated but has new roof this year. AC is less than 5 years old. They had a total repipe and new electric panels within the last 10 years. They also have a 3 car garage, 2.5 car workshop, and a 27x50 metal building. I suspect they have foundation issues with the house and the kitchen, den, formals are from the 60s.
I have a 2900 sq ft house that is 23 years old. New roof, new AC within the past year. Oversized 2 car garage. Kitchen is 90s. House is in good shape, no structural issues, and has bell bottom slab. Kitchen, carpet, floors need updating but work fine. Interior and exterior could stand paint but looks fine.
The metal building is in between the houses on my parents side with a concrete driveway connecting the two places going past the metal building. The electric for the metal building is tied to my house. Basically you can drive up either drive from the street to either house, over to the metal building, and then out the other drive.
Both places have mature oak and pine trees and neither house flooded in Harvey.
We want to sell both places because my folks are reaching the point of being unable to care for the amount of land they have and its too much work for me to care for both theirs and mine too. Also would like to move away from the coast to the BCS area.
I don't want to spend any money on the places unless there is a 100% return on investment. I need the equity from my place to buy another place.
Is selling both together a decent option? Or plan on selling separate and remove the electric connection to my dad's building from my place.
Any advice on how to handle? Timeframe is about 12-18 months