Buying a house that has been an ex grow up? | GTAMotorcycle.com

Buying a house that has been an ex grow up?

R

rashidme

Well-known member
during my search for a house i came across one that has been an ex grow up. The sales rep says that it was 10 years ago and another lady lived here for 6 years and that the title is clean etc. The price is really good, i mean ~$80,000 less then the average price of houses in that area (in Markham).

I checked the house, its big looks very clean. But i don't know if anyone will insure it and if they do it might be very high? Also not sure if bank will give any loan for it. And it must be on police record and will stay like that.

Anyone has experience in this regard?? This is my first time buying a house.
 
I recently met a guy who owns a mold removal company. He says they do a lot of houses that were grow op's. Check the attic for mold. It costs around 4k to have it taken out properly depending on the size of the attic.
 
will always be difficult to sell again. theres one on the market in pickering that has been there for months, priced very cheaply. will likley have mould in most of the walls depending on the size of the operation and how long before they got caught. i personally would not buy one but everyone to themselves.


an inspection will tell you all this. if your serious about it put in a super low offer and you will have the 5 days to get the inspector in and if the moulds bad you can back out in those days. it likely wont sell fast
 
Maybe have an air quality test done as well
 
Don't bother with it...keep looking. You may have no luck selling it down the road. Mould can ge behind the drywall and under the floors. $80,000.00 might not cover that kind of renovation.
 
SeaBreez said:
Don't bother with it...keep looking. You may have no luck selling it down the road. Mould can ge behind the drywall and under the floors. $80,000.00 might not cover that kind of renovation.
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+1
I personally wouldnt consider something like this unless I was planning a complete gut job.

Grow ops also tend to have mangled structure. Huge holes in floors for ventilation and holes in the basement foundation walls to tap into electrical before the meter. You would need to prepare for the worst for sure.
 
I'm sure you could go to the lengths of having a thorough inspection, air quality testing, etc etc. But personally I wouldn't even bother. Buying and then owning a house can already be a monumental task, with many potential unknowns and costs. Why take on that kind of extra burden?

Bite the bullet and pay market value for a house without that kind of history. If nothing else, take the resale factor into consideration.
 
Get them down another $20k
Get all the testing and inspections done first before you buy.
Take $50k and have the house gutted/renovated to how you want and save $50k.
It may cost you $70k to reno the inside.
You will have a newish house and saved some money.
This is presuming the area is worth it.
You can probably gut most of it yourself with some friends.
Insulate it better, radiant heating in floor, better electrical setup.
At the end it will be worth more when you sell it.
 
If you go this route, do not just hire a regular home inspector. Most of those guys couldn't find mold in a 5yr old yogurt container. How bad the condition depends on how long the grow op was running. It could be real value, but get an air quality test done and be sure what your looking at.
 
just buy it.....

and set up another grow op there.

Police and neighbors would never suspect it second time around.

and by the time they do, you would have recouped your investment many times over. :)


.
 
SunnY S said:
just buy it.....

and set up another grow op there.

Police and neighbors would never suspect it second time around.

and by the time they do, you would have recouped your investment many times over. :)


.
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LOL.

Sneaky sneaky..... :p
 
SunnY S said:
just buy it.....

and set up another grow op there.

Police and neighbors would never suspect it second time around.

and by the time they do, you would have recouped your investment many times over. :)


.
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Haha.. This is exactly what I was thinking when I saw the title..

And besides, if the cops show up asking about a grow up just tell them " No no, that must be an old call, you've already been here."
 
risky purchase if you ask me you may spend over 100 thousand dollars to have the house brought up to code and wont live in it while the work is being done,good luck if you do buy it.
 
short stop said:
LOL.

Sneaky sneaky..... :p
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I saw what you did there.

1110043.jpg
 
PSY said:
Get them down another $20k
Get all the testing and inspections done first before you buy.
Take $50k and have the house gutted/renovated to how you want and save $50k.
It may cost you $70k to reno the inside.
You will have a newish house and saved some money.
This is presuming the area is worth it.
You can probably gut most of it yourself with some friends.
Insulate it better, radiant heating in floor, better electrical setup.
At the end it will be worth more when you sell it.
Click to expand...

I pretty much agree except for the last line which is misleading. The house will always have a stigma. Someone will always worry about that one spec of mould that got missed and is lurking in a corner to replicate like an alien invader.
You can increase the value over what you will pay but never likely match the neighbourhood. People may not want to visit or let their kids come to play or stay over. "There goes rashidme, he's the one that lives in the old grow op house" Every time your kid gets a cold someone will say it's because of mould. Old "Customers" may come for a visit.
If it's a big house it will be a big restoration bill.
Even if you get the "Grow op" removed from the title a good title search will find it again when you sell. Will you still need to disclose even if the place is clean?
 
WoBblyCaT said:
Rental property investment.
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Except when the tenants/children start developing respiratory problems thereafter, then you're really going to have issues.
 
Seeing these properties first hand, i wouldnt go near them.

If i was to purchase one, i would ensure that the entire house was gutted and rebuilt with all new stuff.
If it wasnt, dont bother. Too many headaches down the road you will encounter, not to mention health issues.
 
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