On Feb 7, 7:23*am, "Doug" wrote:
On Tue, 07 Feb 2012 04:53:43 -0600, "Doug"
wrote:
On Mon, 6 Feb 2012 11:49:58 -0800 (PST), Joe wrote:
On Feb 6, 7:48*am, "Doug" wrote:
*I'm considering buying a house that needs a new roof (shingle),
foundation repair, sheetrock repair, cracked ceramic floor tile,
etc... . * *Does the order of repair matter for the roof vs foundation
repair? *This is for a one story house (around 2400 sq feet) built
around 1993.
Peddle your palace as soon as you can and take the loss off your
income taxes. No house that new, that large and with all those
problems is worth what it will cost you. A logical question is, how
did you ever get trapped into buying such a money pit?
Next time you will know better.
Joe
No, I didn't buy it but I am considering it. *If I buy it, I will
allow at least 20% allowance over the expenses I already know about in
repairs. *I know it's going to need fdn repair, roof repair and
interior paint, spackle, tile work and maybe a new rug. *That's what I
know which are to me major expenses.
In answer to others, I saw 2 small leaks in the kitchen ceiling but
they didn't look fresh to me but I will assume they still leak.
Otherwise roof looked okay but due to age, I will want new roof.
Heater was working when I entered the house but I didn't check the a/c
because it was cold outside and I didn't want to wait long enuf to
heat the house hot and then cool it off with the a/c. *I did look at
the a/c outside and it looked like it had been replaced and was a
trane1200 condenser. *Foundation had definitely a crack in it due to
the evidence in the walls and some tile in bathroom (one end of house)
and kitchen (on other end of house). *Minor things to me that I
noticed were a garage door opener adjustment, decking (structure ok
just looks weathered) and some window screens. *Obviously I didn't see
everything but I was in the house just looking for obvious or major
expenses upon my first visit.
Here's my estimate for the major stuff and some minor stuff I quickly
noticed (having based on recent estimates on other homes except for
wild guesses noted) but I will get real estimates from contractors...
inside paint.... $4000
foundation.... *$6000
garage door opener adj.... * $250
decking (optional repair expense).... *$1500 * (wild guess on this)
new roof (tear off incl) .... *$7000
rug..... * * * * *$4000 *(wild guess on this but house is 2400sq ft
with some tile)
landscaping (not extensive).... $500
misc... * * $9000
I know there will be tile work to some degree due to cracking and
other misc stuff so I'm hoping my $9000 will cover this.... assuming I
purchase it. *Based on comps in the neighborhood and if I can purchase
it with what I have in mind... * purchase price plus above is about 80
to 81% of market value. *In my opinion if my repair cost is greater,
the worst scenario is I'd break even. *I can buy other homes not
really in need of repair (or minor at best) but I will only get a 5%
or so discount vs this 20% discount. * The 5% homes have more chance
of appreciating tho. *I guess I will have to sleep more on this.- Hide quoted text -
- Show quoted text -
i would get a structural engineer to look at the cracked foundation.
it may be trivial but it could be a big problem./
all homes will need painted and carpet and stuff like that.
get a home inspection and use what they uncover to beat down the
sellers price futher
