Updated almost 7 years ago on . Most recent reply
Should I buy this home?
Hey everyone! Just wanted to know HOW DO I KNOW if the home inspection done on a home I'm trying to purchase is considered " a good buy " " fair buy" or " GET OUT AND RUN" :-) .. what are the main things I should look at ? here is some stuff that jumped at me
Roof sags a little
Chimney is poor condition
Interior walls have some cracks
Floor squeaks / unlevel
bathroom fixtures need replaced
low water pressure from bathtub
water pipe condition leaks
No garage
no termites
no asbestos
Mind you this is a $30k home I'm buying and have tenants already in it paying $750 a month. Is this worth it?
Thanks
Most Popular Reply
At some point in time (it should have been before now), the owner will need to fix a whole lot of expensive things. I recommend that you "know your costs." What will it cost to repair/rehab the property? And, can it be done with the tenants in place. Until you know your costs, you can't determine if it's a good buy or not. Maintenance that is deferred/delayed/not done, leads to bigger problems and more costly repairs later.