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Old 05-22-2019, 06:33 AM
 
2,289 posts, read 2,943,980 times
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Quote:
Originally Posted by Newhomebuyer520 View Post

I think I will consider looking at more expensive homes with a more "turn key" situation.

The market has softened a bit and I don't see the flippers anymore. That opens up a chance for you to buy a solid well maintained house that just needs cosmetic fixes. Generally you can do a few big items before moving in and then update the rest when you have the money. You mentioned schools, and that is the right top criteria.
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Old 05-22-2019, 09:12 AM
 
Location: Ca expat loving Idaho
5,267 posts, read 4,177,342 times
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If you pull out can you post the address of the house so I can check it out on Zillow? Just curious.....
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Old 05-22-2019, 12:48 PM
 
Location: Riverside Ca
22,146 posts, read 33,503,954 times
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Quote:
Originally Posted by Newhomebuyer520 View Post
This house WAS initially a diamond in the rough for us. But with all the issues coming up, it's looking more like a lemon. I just got a preliminary report back from the home inspector and on top of the rats and mold, he said the roof is really messed up. There are a bunch of roof tiles out of place and the recent rain has probably done a number on everything underneath. Major repairs will be needed.

I am just about to initiate cancellation on the purchase. The amount of money needed for repairs, the amount of time I would need to be paying for rent at my current home has left me disillusioned with the property.

I think I will consider looking at more expensive homes with a more "turn key" situation.


Thanks for your input though.
It’s probably best option or you.


Truthfully you’re money ahead buying this and fixing it. If the noise is 600,000 dollars and you’re getting 20% less you’re looking at 120,000 dollars lower so 480,000?


A roof runs 10-12k. You can probably have it fixed a lot cheaper as the tiles are reusable. Roof tiles can be removed, paper torn off, fix the wood then reuse the tiles and buy a few to replace the broken ones. But tile roofs can be repaired. Rats and rat proofing a home can be done. I paid 1200 to have mine done when i bought it. ALL houses can have rats.
The mold remediation can cost but how big a area are we talking about as far as the house? People tend to blow mold issues so far out of proportion it’s laughable.
For example right now I’m remodeling my kitchen. I found some mold, but it’s old and there was sign of a past leak. The plumber found a cracked drain line. It was fixed. The electricians had to do enough drywall cuts that it’s cheaper to tear out the drywall and put up new than to patch the old drywall. So it’s getting new greenboard drywall. About 1500 bucks.

You really think the repairs are gonna add up to the money you’re saving on the purchase?
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Old 05-22-2019, 12:51 PM
 
Location: SoCal
20,160 posts, read 12,750,608 times
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Quote:
Originally Posted by Newhomebuyer520 View Post
This house WAS initially a diamond in the rough for us. But with all the issues coming up, it's looking more like a lemon. I just got a preliminary report back from the home inspector and on top of the rats and mold, he said the roof is really messed up. There are a bunch of roof tiles out of place and the recent rain has probably done a number on everything underneath. Major repairs will be needed.

I am just about to initiate cancellation on the purchase. The amount of money needed for repairs, the amount of time I would need to be paying for rent at my current home has left me disillusioned with the property.

I think I will consider looking at more expensive homes with a more "turn key" situation.


Thanks for your input though.
I always want to buy new homes and only bought new homes for that very reason. But my brother has good luck with older homes and he knows builders to come and fix it.
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Old 05-22-2019, 03:31 PM
 
Location: Riverside Ca
22,146 posts, read 33,503,954 times
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Quote:
Originally Posted by NewbieHere View Post
I always want to buy new homes and only bought new homes for that very reason. But my brother has good luck with older homes and he knows builders to come and fix it.
Lol. If you saw the way new homes are slapped together (and I’m not using the term loosely) you would look at preowned homes.
Houses today are built by the lowest bidder using the cheapest components they can use. I remember when I did tract housing. These houses in Huntington Beach where the old airport used to be.....back then they were 500k or so. One year later ALL the houses started getting plumbing leaks. Seems the new stuff called PEX was used. The problem was the fittings were crimped on but the crimp tool didn’t crimp hard enough and eventually worked loose. Ive seen shoddy framing, shoddy roof flashing etc. don’t expect the inspector to have time to go through and catch everything. They won’t. And once it’s dry walled.....it’s there as a belated future surprise.
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Old 05-22-2019, 04:49 PM
 
18,172 posts, read 16,384,702 times
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Quote:
Originally Posted by Electrician4you View Post
Lol. If you saw the way new homes are slapped together (and I’m not using the term loosely) you would look at preowned homes.
Houses today are built by the lowest bidder using the cheapest components they can use. I remember when I did tract housing. These houses in Huntington Beach where the old airport used to be.....back then they were 500k or so. One year later ALL the houses started getting plumbing leaks. Seems the new stuff called PEX was used. The problem was the fittings were crimped on but the crimp tool didn’t crimp hard enough and eventually worked loose. Ive seen shoddy framing, shoddy roof flashing etc. don’t expect the inspector to have time to go through and catch everything. They won’t. And once it’s dry walled.....it’s there as a belated future surprise.
Yep, I inspected my new house every step of the way and when I saw problems I took photos and sent them to the builder and ... they quickly fixed them and no further problems.
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Old 05-23-2019, 10:32 AM
 
Location: SoCal
20,160 posts, read 12,750,608 times
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Quote:
Originally Posted by Electrician4you View Post
Lol. If you saw the way new homes are slapped together (and I’m not using the term loosely) you would look at preowned homes.
Houses today are built by the lowest bidder using the cheapest components they can use. I remember when I did tract housing. These houses in Huntington Beach where the old airport used to be.....back then they were 500k or so. One year later ALL the houses started getting plumbing leaks. Seems the new stuff called PEX was used. The problem was the fittings were crimped on but the crimp tool didn’t crimp hard enough and eventually worked loose. Ive seen shoddy framing, shoddy roof flashing etc. don’t expect the inspector to have time to go through and catch everything. They won’t. And once it’s dry walled.....it’s there as a belated future surprise.
I’m not saying they are perfect, but at least right off the bat, we don’t have to worry. But my brother has spent more than $100k to fix his house already. Old style house too. No panacea either.
But we had good luck with one builder and nothing wrong with the house yet.
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Old 05-25-2019, 01:00 PM
 
Location: Riverside Ca
22,146 posts, read 33,503,954 times
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Quote:
Originally Posted by NewbieHere View Post
I’m not saying they are perfect, but at least right off the bat, we don’t have to worry. But my brother has spent more than $100k to fix his house already. Old style house too. No panacea either.
But we had good luck with one builder and nothing wrong with the house yet.
Yes new houses are usually a better bet because it’s new. But I’ve been in multimillion dollar homes where 6 months later they are ripping off a roof due to badly installed flashing, ripping walls to fix bad plumbing etc.
the problem with new homes is everyone wants to do it as fast as possible cut as many corners as they can. And most of the materials are “builder grade” which means it’s pretty cheap low end stuff. It just woes because it’s new
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Old 05-27-2019, 09:14 AM
 
Location: SoCal
20,160 posts, read 12,750,608 times
Reputation: 16993
Quote:
Originally Posted by Electrician4you View Post
Yes new houses are usually a better bet because it’s new. But I’ve been in multimillion dollar homes where 6 months later they are ripping off a roof due to badly installed flashing, ripping walls to fix bad plumbing etc.
the problem with new homes is everyone wants to do it as fast as possible cut as many corners as they can. And most of the materials are “builder grade” which means it’s pretty cheap low end stuff. It just woes because it’s new
That’s why there’s a 10-year warranty. At least I know nobody died here yet. I once thought about buying a used home in Laguna Niguel, I love Laguna Niguel, but there was a guy that died of a heart attack there. My husband didn’t mind, but its a bit creepy to me.
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