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First Home Purchase Hesitation
Hello all! I am in a bit of a dilemma here and I was looking for some advice from people who are familiar with the work involved with remodeling parts of a home.
My husband and I have decided to try and buy the house we are currently renting, and agreed to purchase or vacate by May 1st. This house is 7 houses down from my parents, in a wonderful neighborhood, with so much potential.. However I am fearful it could be a money pit, and we just cannot see paying his asking price, if he won’t fix anything before selling it. We wouldn’t have any money left over for restoration or costly upgrades if we pay the full price he’s asking. We've qualified, but we're hesitant. (3/2, 1400 sqft, 91 home, asking 150)
The house has been a rental house for the last 10 years, and there hasn’t been much up-keep done to it during this time. I asked an inspector to come out and give me advice on the condition of the home. Parts of the roof are damaged from pressure cleaning, one of the three sun-lights are leaking, causing the paint on the roof and walls to fall off. Some outlets are loose/not working, and one will not “trip”(I don’t know the right terminology) so it’s a safety hazard, the hot water heater needs to be replaced, the AC just broke (original) again for the 2nd time in a year, hardware is rusting and falling off, doors don’t open and close, and the sink in the kitchen is set in the corner of the counter (“L” shape), which makes water spill over when you try to do anything in the sink, which has caused water damage to the cabinets below (they will not close, they stand open maybe an inch).
The house must have the sun-lights fixed, the AC fixed, and the electrical outlets fixed before it can be insured. However, I am concerned about the cabinets… two are significantly damaged. My dad is retired and I know wouldn’t mind doing some handy-work, but I am concerned of how costly, and time-consuming this may be, or if it would even be possible to fix a “part” of the counters without having to replace them all.
Could anyone suggest if this cabinet fix would be possible? Would all of these fixes be more work and money than it would be worth?
I’d appreciate any responses and can provide pics if they would be helpful!
Thank you!
My husband and I have decided to try and buy the house we are currently renting, and agreed to purchase or vacate by May 1st. This house is 7 houses down from my parents, in a wonderful neighborhood, with so much potential.. However I am fearful it could be a money pit, and we just cannot see paying his asking price, if he won’t fix anything before selling it. We wouldn’t have any money left over for restoration or costly upgrades if we pay the full price he’s asking. We've qualified, but we're hesitant. (3/2, 1400 sqft, 91 home, asking 150)
The house has been a rental house for the last 10 years, and there hasn’t been much up-keep done to it during this time. I asked an inspector to come out and give me advice on the condition of the home. Parts of the roof are damaged from pressure cleaning, one of the three sun-lights are leaking, causing the paint on the roof and walls to fall off. Some outlets are loose/not working, and one will not “trip”(I don’t know the right terminology) so it’s a safety hazard, the hot water heater needs to be replaced, the AC just broke (original) again for the 2nd time in a year, hardware is rusting and falling off, doors don’t open and close, and the sink in the kitchen is set in the corner of the counter (“L” shape), which makes water spill over when you try to do anything in the sink, which has caused water damage to the cabinets below (they will not close, they stand open maybe an inch).
The house must have the sun-lights fixed, the AC fixed, and the electrical outlets fixed before it can be insured. However, I am concerned about the cabinets… two are significantly damaged. My dad is retired and I know wouldn’t mind doing some handy-work, but I am concerned of how costly, and time-consuming this may be, or if it would even be possible to fix a “part” of the counters without having to replace them all.
Could anyone suggest if this cabinet fix would be possible? Would all of these fixes be more work and money than it would be worth?
I’d appreciate any responses and can provide pics if they would be helpful!
Thank you!
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