That's a tough one especially when you feel you will regret letting it go.

The fact you can't move in there because it's too small for your family and the EPA issues would be more than enough to make me run.

Too bad you can't pick up the house and move it to a nice lot. I found alot of houses that way when I was looking - nice home but backing onto main roads or other undesirables.

Pics are always fun so here's a link to the house. You will tell me it looks big (2250 sq ft) which should be enough but we have 3 boys and it seems small to us especially without a basement. Also it's really only 2 bedrooms not 3 because one of the rooms they call a BR is that one with the fireplace and it's really not a BR. That having been said I thought maybe we could hang there for awhile and if we really loved it would sell our primary house, add on to this one and just keep the kids in private schools. **sigh**

Here is a link that might be useful: MCM House

Personally, I would pass on it. You like it aesthetically, but nothing else about it will work for you. Your post kind of reminds me of what guy might say if he was rationalizing buying a car with more flash than function. Not to be harsh, but it sounds to me like you already know this is a bad idea.

Why can't you put the effort into giving your current house more of a sense of soul? I think the Home Decorating forum had a lovely thread a few months ago about what made a home feel like a home, with a real spirit. The building is only part of what makes a home-- if your current house is nice enough and is really good for you functionally, maybe there are things you can to to make yourself feel happier within it.

I'm going to go against the majority and say go for it.
In some part of your being you've fallen in love with this house. It speaks to you, you can afford it and someday your family will be smaller.
The house needs work. As a old house owner I can tell you that making updates and changes is MUCH EASIER if at the end of the day you can walk away from where you are working have a hot meal, a hot shower and sleep in clean sheets. Updating an old house can take years......usually cause the pocket book needs to be fattened between projects.
Owning both houses gives you that chance as does the fact that they are only 20 minutes away from each other.

Perhaps you could buy it in hopes of retiring there, and rent it out in the meantime?

I love the house. Where is it that it is so inexpensive? How old are your boys - anywhere near to college age? If money isn't a problem why not go for it? Do your kids love water activities? Will they get a lot of use from the lake/park? I think the pool is too small to be much of an amenity.

How old are the kids?

I normally don't go for something like that but can see why you like it. I also might be tempted too depending on the layout.

The house sounds big at 2250 sq ft, I wonder if you could redo a few walls, or is that unheard of?

We're going thru something similar - deciding whether or not to buy a lake house to eventually retire to. It, like yours, just hit us & we felt it has to be ours. We've made an offer & are waiting to hear back. Ours needs work, but as carol says - it's ok if it takes a while. We have several years to work on it before it would become a full time residence.

If you can afford it, do it. Your family circumstances will change over time but if it gives you a special feeling that is worth a good deal in terms of your emotional wellbeing. I don't know where it is located but the price is very reasonable! I did an equally risky thing and bought a small old cottage in England. I am there 2 months of the year but I feel a sense of relaxation as soon as arrive. It turned out to be a great financial investment too as house prices in the UK are insane and seem to bear no relationship to income.
Life is short and uncertain; enjoy it.

Thanks everyone for the feedback, it's helpful to hear others' thoughts. Our boys are 4, 5 and 4 mos. I've thought about retiring there and would love that (at least that's what I say now at 35). Moreover, my parents aren't getting any younger and their stairs are getting harder for Mom so it'd be nice to have available for them if need be. We're in the midwest...St. Louis area. Some of this guy's homes have been priced (that's not to say they sold for that amount) close to the million range over in STL, but that's in a much ritzier location, better schools, more sq footage and much more updated on the inside. 2250 I know sounds like a lot but less than we're used to...current house is 3100. Main issue is the # of bedrooms with the boys and I also have a mother in law that lives with us for a few months a year. I've thought if we got the house and really loved being there we could add bedrooms in an architecturally consistent way. I know, it's like a guy in a midlife crisis trying to rationalize a Porsche.

I don't want to throw gas on the fire, but that looks like a house/yard with a lot of potential. Don't discount the 20min away factor. I have two vacation homes and both are a haul to get to. One is only 54 miles away but takes a boat or airplane to get there and the other takes a day whether you drive or fly. Needless to say, we don't use either as much as we thought because of the distance or inconvenience of getting there. If you like the area and you can get a good price, I say go for it. My step father had a condo that was a 15min walk away and used it all the time. It was on the ocean and it was like going on vacation even though it was literally down the street.

IDK, your kids are really young. If they were teens I would go for it for sure but so much could happen in the next 15 years.

That's a pretty cool house! I can see why you love it so much!

Mimi, I'm just on the other side from you in StL. If we hadn't just closed on building a log home on some acreage, are a few days away from closing on the home we are leaving, I'd want to buy this house myself! It's beautiful - I love the Frank Lloyd Wright influence. Nobody can tell you what's right for you, but wow...what a great house. If you feel you can afford both your current house and this one, then it does seem like the plan of making this your full-time home, adding on as needed, and putting your young ones in private school would be within your financial means, too. This house is art. As long as the EPA issues do not pose a safety issue for your family, I'd say go for it!

t-mac, thanks! The other Bernoudys are in Ladue-type areas, some preserved but some remodeled beyond recognition and some razed for McMansions. Lots of great midcenturies have been razed in our area (evidence the link below). The one I'm considering is just not in a desirable enough area to make it threatened. If it were just in a slightly different area I'm sure it would have sold by now. But if history is any guide, this area will start an upswing due to spillover from close-by more upscale areas (like Edwardsville where we live now). Because of good interstate access (for people to work in St Louis), I think the area will be growing/improving in the future.

Here is a link that might be useful: Lost Midcentury Treasure

I'm in Chicagoland, home to many Wright homes. I have to say I don't see a lot of 'soul' (or Wright) in this house. It's not much different from many ranches of the era. It may have one or two characteristics -- not good ones, as many similar houses were all attitude and no construction quality. I'd bet the radiant heat is a real mess. There will be no insulation in the walls. The roof? Well at least it isn't a flat one. (Before I saw the photo I was picturing a glass-walled shoebox.)

Plan your OWN dream house and build it. Whatever the hassle, it pales compared to taking on this property.

I'm struck by the incongruity of your self-described "hippiness" - or support for the idea of building "green", if you were to go that route - and your apparent willingness to indulge in the excess of owning two homes. It would seem less of a contradiction if one or the other were a real vacation home, or a true retreat from your workaday life. What you've described here: you want it (even if it would meet few of your real needs), and you can afford it...doesn't seem to align with others of what you profess to be your values.

I absolutely love this house! Amazing details with the MCM architecture and incredible lot.

I know exactly what you are going through. We presently live in a newer home, and it is just missing the "soul" I want from a house. We bought it for the great school district and it was turn-key, but it is just missing that "something". I hear ya on the mid-life crisis (though I'm only 38!)...I am constantly looking at homes built in the 50s/early 60s and trying to plot how we could swing it (kids would have to go into private school and we would have to sell present house).

With all the land this house has, I think an architecturally-sensitive addition could easily be done to fit your family. I would rather live in a slightly smaller house that is totally "me" than one that is just big.

If you can easily afford both houses, I say buy it!! Especially if this style home is a rare find in your area.

Let us know what you decide to do!

teachbls -- I was just waitinng for someone to point out the incongruity of my "professed values". I can totally own that criticism -- there's nothing "green" about owning two homes both with adequate sq feet -- but well, I don't know what to say about it. I think of it this way -- if I had this house I'd contribute to preservationism (is that a word?) by buying into an older already established community. The alternative, building my "dream home" with exactly my vision (as many others do), would contribute to the suburban sprawl that is getting worse and worse in my area...bye-bye gracious fields and farmland. But hey...if I don't build on it someone else will, my selfish side says! But back to the point...having 2 homes is the ultimate in lavish consumerism which I really do try to stay away from.

The radiant heat...yes I know. I would have to have it inspected. Insulation, yes, probably poor to nonexistant. The roof, replaced in the last 10 yrs. The windows...a little over half are replaced with thermal ones.

I would love to think our family could fit there. 2250 sq ft is plenty, I agree.

We have done the same thing (though our lake house is 4 hours away). We are doing this for our retirement. We already bought and sold one house, and are now working on another.

We hope to move up the ladder until we are "on the lake".

Anyhow a couple of comments:
1. When you say you can afford it, it make sure you keep in mind all the extra's that come along with a house; electric, phone, cable tv, taxes etc. It nearly killed me to have to order oil for the second house a $3.09/gallon, but the heat needs to be on so pipes don't freeze.

2. Your kids are young. You probably will will be starting with the Soccer, Little League, Boy Scouts etc soon. I often think I wish we could have had this place to take our kids to, but in reality, we would have never had the time or money. Our weekends were booked from the time the oldest turned 6 and the youngest turned 16.

3. How is the real estate market there? We were lucky in that where we bought did not have "the bubble" that we had in Maryland, so the real estate prices have been stable.

Good luck, and let us know what you decide.
Barb

That house is a GEM - if you can afford it, I say go for it. And try to find a way to make it your main home, I don't think you would regret it. For a lot of us (like myself) it is important to have a house with character and soul, and that house is like a work of art. The price seems very reasonable to me, but we live in Florida, only you know what the market will bear in your area. What do you think it would appraise at? Anyway you get a "green light" from me!

i think it's a great solution for your aging parents,if they're willing to move. twenty minutes is close enough to visit regularly without it becoming a terrible burden on you. and i see no conflict at all in being green and owning a vacation home. it's not some new structure you're building,it's a sound investment and keeping it on the tax rolls supports the community. and hopefully it will provide safe,close houseing for your folks. perhaps you'll have an oppportunity someday to host a family whose home has burned,or been lost in a flood or something.

Big question---what does your spouse think of the idea?? If he's open to it then explore the possibilities. Consider how you could use the house. As a close by "get away" it offers a big yard, small pool, and lake access. Great things for a family with 3 boys. It wouldn't be too far away if you did have a kids ball game to attend. Owing it would allow for the option of you parents relocating and living in it, or perhaps just staying there part of the time. Or, you might find after living in it part time that you like it so much you want to move into it as is or do a sensitive addition. Or, you might find that after owning it for a while that 2 houses are a pia and decide to sell it! You could do any, or all, of those things while you owned it. But you can't if you don't own it.

So should you rush to buy it? NO. Like any real estate purchase look hard before you leap. We had our 2d home inspected BEFORE we bid on it. That gave us a good idea of what was needed and how much repairs/renovation would cost (of course there were many surprise problems) and if we really wanted to pursue it. I checked county records re sales prices, taxes, easements, etc of it and surrounding homes. We talked to the neighbors. We also looked at at least 6 other places after discovering this one to make sure it was a good choice and value. We went from my husbands long declared "I'd never own a second home" to his "Honey, what would you think of buying a house on a small lake and oh, by the way I paddled by one for sale today" to buying it in less than 2 weeks.

Now it has been 2 years (and lots of renovation) and every time we are out there (frequently as it's only an hour drive)I comment on how glad I am we bought it. Besides the lake, I love its bright contemporary feel as opposed to our traditional in town home. The lake house better reflects me and makes me happy so I understand your falling in love with such a neat mcm home.

In summary, if after you both think it through and are interested, look carefully, come up with an estimate of repair/remodel costs (x1.5 to be realistic!), figure out how much you are willing to pay/market value considering those costs then go for it. If you can't get it for a realistic price walk away. If the condition turns out to be too deteriorated--walk away. Either you'll get another opportunity when no one else buys it or you can console yourself by thinking about all the negatives/ impracticalities/second yard to keep up/ etc. that you missed.

Let us know the outcome. PS- If you don't buy it you should suggest they list it on the mcm website Lottaliving.com to help it find an appreciative owner.

If you can make the payments on it and also have $ for heat, taxes, water, etc. plus an emergency break-down fund, go for it. Can your family keep up with the landscaping and grass mowing?

We had a second home for 5 years. (I wanted it so bad it was terrible.) We enjoyed it for about 2 1/2 years as a weekend get away. Then, it seemed like the "honeymoon" period was over and it was a "chore" to go to, every other weekend. Also, in those 2 1/2 years, we let our present home run down because we were always fixing the other one up! We sold our vacation home 6 months back and I can't say I miss it. If we need a break, we take off and Holiday Inn it.

The MCM house is really, really cool. I'd go for it. As for space, we live in NYC with 2 kids in 1,300 square feet...and that's considered a lot for here. The MCM aesthetic is simple, clean, flowing...just consider ways to streamline your life.

You'd also have a nice-sized yard. The school situation will work itself out.

Hi mimi,

You're facing a decision that we faced a little over a year ago. Now we own 2 homes, just 20 miles away from each other. Our second home is on a beautiful lake with no powerboats, and I absolutely love it there. Some of the unanticipated downsides are:

We burn a lot of gas going there and back. I thought having a vacation home so close by would be fabulous--and it is! But we'll go back and forth in a day sometimes, or take both cars out over the weekend. I didn't plan for that, and guilt about my carbon footprint is definitely there.

Our daughter (7) is an only child, and we pretty much have to import children (bring them with us) for her to play with. The town where we could afford to live on a beautiful lake is NOT a town where we would send our child to school. We have met some children, but not very many with whose families we really want to connect. Not such an issue for you with 3 kids, but a big issue for us.

It costs more to maintain than you can possibly predict. Extra bicycles, or do you bring 'em back and forth? Extra groceries, or do you schlep 'em? More food is rotting in our TWO refrigerators than ever before. No to mention the obvious--taxes, plowing, heating, cooling, furniture, dishes...the list is endless. We thought we had the finances figured out, but we were wrong. There is just so much more than you can imagine ahead of time!

I'm unequivocally happy that we bought the lake house. I love being out there, and we do spend a lot of time there in every season. I used to spend every summer looking and wishing and pining away for a lake house--now I actually have a feeling of relief that I can stop. We have no liquid funds anymore, but I feel OK about that. I am really happy that instead of dreading to open our financial statements, we have a real asset that we can enjoy all the time. No ideas what the future will bring in terms of $$$ or the RE market, but it's hard to imagine that a soulful asset like the houses that enchant you and me will be replicable (or any more affordable) in the future.