Househack FHA loan rehab cost estimates
Hi BP Community,
My partner and I have been looking to purchase a house-hack in southern California and came across a property that we think could work. The property has been inspected and the inspection report came back with numerous findings including potential termite damage, roof and foundation issues. We are planning to use an FHA loan and would not have significant capital to make improvements to the property after purchase. We learned that the seller is willing to pay for a lot of the repairs noted in the inspection report but not necessarily all of them. As this is our first investment, we were hoping someone could take a look at some of the issues noted in the inspection report and give your two cents on the situation. Specifically how much each of these fixes could cost if we were to do them ourselves. I have the findings from the inspection report handy and can send it over to you. Additionally, we have considered a 203k loan but are hesitant to roll rehab costs into our loan for our first project because of our inexperience with rehab costs. Thanks everyone for your help!