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Had the house Insepcted yesterday , not so good :(
We think we are going to back out of the sale, boo. The house passed, but there were so many little things that could add up to about $30k. He said the house itself is real good, but....
- The Hot water heater is on its last leg.
- The Electrical (circut breaker box) needs to be replaced. There are no spots for any more circuts.We wanted to add central air, but we would have to change them amps to 200. The duct work they had done 5 yeras ago does not go up to the second floor correctly.
- The deck needs to be replaced . There is a cut out for this big tree in it and the tree is making the deck buckle.
-The detached garage has termite damage and needs new windows .
-The owner had about 4 rubber hoses out to irrigate the back yard. These were not out when we went to see the house the first time.
- The hard wood floors that need to be refinished can't. They have been sanded down so may times the wood is deteriating,
Sorry so long, but this list freaks us out. There was even more I didnt mention. The owners told our agent that they are not willing to reduce the price or fix anything if it passes inspection. So, we don't think we are even going to give them a chance. Whah!
Re: Had the house Insepcted yesterday , not so good :(
THAT list would freak me out, too! Wow... So sorry-I know you have been looking and felt this was a great house!
Awww, I'm sorry. If you really love the house, I would try to negotiate with the seller to fix some of the stuff or reduce the price. They may have said they won't do it, but when they are about to lose the sale, their minds may change.
I agree...A little freaked out for you!
The circuit breaker would be my biggest issue. The hot water heater...EEEHH. They are not terribly cheap, but not outrageous either and it is working.
The wood floors could become very costly if you wanted wood again since you can't have them refinished.
OOOH and the Termite problem...if they are in the detached garage they are in your house! Maybe not visible yet, but in the future they will be. We had an exterminator come out and look at our house and told us that if they are near the house, if they are not already there, they will be there soon enough!
Jut the whole mix doesn't sound so good! I would say back out. You'll find a house that is perfect for you without all the headaches!
As someone who currently owns a house with a similar list, I would say back out. The electrical in our house is driving us absolutley crazy, and finding the money to fix that is just not feasable. And the duct work, that could be a HUGE project. Plus new flooring, ugh. It's a lot to take on.
The thing about our house is when DH bought it, you literally could not find anything to buy in Scottsdale, so he purchased even though it had the laundry list thinking that he would fix everything. Then he realized how much it actually costs to fix those things, AND not to mention other things go wrong too. In the past year we have had to gut and replace the plumbing in master bathroom, replace the water heater, replace the dryer and the big TV in the living room broke. All huge expenses that were not a part of the "needs to be fixed" list that we already had. Last year our big one was the pool pump had to be replaced and the main water line connecting us to the city broke (under our front lawn so we had to pay) oye vey!
Well....If you love love love it...then maybe sit down and rethink things.
Also, are you going with an FHA loan? Because if so, FHA has a list of things that HAVE to be fixed...If the owners refuse to fix them for you, then they can accept any other FHA offers...So termite stuff would HAVE to be fixed.
As for the water heater. Not a big deal at all... We negotiated a 1 year home warranty when we bought the house. The warranty will cover the water heater. Ours is on its last leg as well, and when it goes, you just pay the $60 deductible and home warranty takes care of the rest.
Are the floors livable for now until you can save to do them?
There is a TON of stuff we want to change about our house, but it is all livable for now and we will do what we can when we can do it .
Our house needs a new roof n a few years and has single pane windows, so thoose need to be doen to. Booth are big ticket items...But we loved the house. So we got it.
Good luck lady. It sucks when they tell you there is stuff wrong...but thats what coems with looking at older properties. Nothin gis garaunteed
Oh hun I'm so sorry to read this list! I know how exciting finding a house is and then to have the bubble burst. I'd rather be safe than sorry though because these are some issues that cannot be fixed cheaply.
Agent- Yes, wer are going with FHA. It seems they have approved the house . Because all these things are considered "pass", but need to be fixed with in the next few years.
We never LOVED the house, but we thought it was the best we could find. That may still be true, but our monthly payment is so much ($1780, wich is the TOP of our budget) we feel for that price we just cant accept this long laundry list of thigs that need to be repalced.Thanks for your input, I always value the advice you give!
p.s. I just re-read what I wrote, it should have read Can NOT go FHA if they dont fix the things that need to be done...
Maybe FHA is more lack in certain regions...Out here they went NUTS over some peeled paint on the BRICK, and a couple other really dumb small things. Thankfully we were able to get them all fixed through the owner. Which was a bank, so we were very surprised..ALSO when we put an offer in the seller said they would NOT fix anything, it was "as is" but once we got the inspection back we were able to get them to fix the stuff anyway.
Good luck in what you decide to do.
I guess I'm going to be the Pollyanna here.
The only one that concerns me is the electrical box. That is a big expense and the very first thing I would tackle. (I've been watching Holmes on Homes.) You could end up saving a lot of money on a more energy efficient system - and spend an extra $500 on a whole house circuit breaker that will save you from losing everything (EVERYTHING) from a surge. Plus, there are tax breaks for energy efficient improvements. I think in PA, an air-conditioner can wait a bit. It will be hot, but livable with fans or a portable unit in the meantime.
Hot water heater...may not be that expensive... go the route that Agent suggested with the insurance. We had to replace this right away at my ex's house. Not a big deal at all.
The deck...that can wait. My ex's house had termite damage in his. They never replaced it until just before selling it.
The detached garage...orange oil treatments are fabulous and not too expensive. Unless it's attacked certain foundational beams and supports, you're fine for a good while. I wouldn't store any antiques in there, though.
Sprinkler system - that can wait, too. There are easy enough options that you can set on a cheap timer for now.
And the wood floors...it's a shame they are in bad shape, but they can wait, too. They make amazing pergo and bamboo floors that you can install later on that aren't very expensive and look beautiful.
I know it's not your dream house, but it's not horrible news either. I rec Holmes on Homes. Interesting inspection and fix up show!
And I wouldn't feel badly about cutting and running either. Get what you deserve if you can!
I would cut and run on this house*. The electrical stuff is a pain in the a**. We are slowly rewiring our entire house as we rip each room apart. We can't have a sawz-all running at the same time we have the hallway lights on or we blow fuses - and it's not always the same one.
The floors can be ridiculous to replace regardless of what you put on over it. Depending on the wear and tear on the floors you may spend a fortune just reinforcing and leveling them.
Windows are also expensive. We're replacing all of our single pane (seriously who puts single pane windows in in NY?) windows ourselves. It's 200 bucks a pop (and we have 22 windows to replace)
**If this house was at the lower end of your budget - I would consider it but since its at the high end - if something unexpected happens (and it will) you could find yourself in a bad spot financially.
I agree, esp with the bolded above--I think the others have mentioned good points. Here's my take in a nutshell...
I would only take that house if it was at the lower end of my budget. That way, you'd still have money available if something (or many things) added up to a huge out-of-pocket cost to fix. i.e. if your budget was 300k to 350k and you bought a home closer to 300, that would leave you with smaller mortgage payments and, in theory, the remaining 50k or so you could have put towards a house and instead could put towards repairs/upgrades.
However,
Since you are not 100% sold on this house AND it's at the top of your price range AND it has a long laundry list of some serious (and expensive) problems/repairs, I'd walk.
Sorry to hear the inspection didn't go so well. The home buying process can be so frustrating and depressing. Don't feel rushed or pressured into getting something right.this.second just because you already feel like you've been looking forever and don't think there's much else out there for you. Don't try to force it. It'll happen.