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Old 10-01-2009, 07:41 AM
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Default Buying an old home- need advice

I am going look at a home that is 50+ years old and if I like it, I will make a bid today. When I go look at it, my main concern is the wiring and whether or not it needs to be updated. I will ask the real estate agent if it is updated, but what else can I look at to tell if it is updated?
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Old 10-01-2009, 08:19 AM
B4U
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Your realtor and morgage company will require and inspection. They will/should detect any prospective problems. Roof, foundation, plumbing, electrical, etc.
You really shouldn't make a bid til the inspection is done.
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Old 10-01-2009, 08:30 AM
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Do you know about how much It costs to hire an inspector?
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Old 10-01-2009, 08:34 AM
B4U
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I'm sorry, I don't. I don't know your area and I bought my house 10 years ago. It was well worth it as well as required by the morgage company.
If problems are found this is your negotiation chip though.
Your realtor will know people that inspect in your area and probably make recommendations.
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Old 10-01-2009, 08:47 AM
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Ok thank you. I'm just a young first-time home buyer with no family and not alot of extra money. I just want to make a good decision
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Old 10-01-2009, 08:54 AM
B4U
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Quote:
Originally Posted by kchaisson05 View Post
Ok thank you. I'm just a young first-time home buyer with no family and not alot of extra money. I just want to make a good decision
As well you should. No one will take care of you better than you should.
Ask as many questions as you can. It will be your biggest inventment of your life and you.

Congrats on being a 1st timer.
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