08-30-2016, 05:15 PM
12 posts, read
12,868 times
Reputation: 11
Quote:
Originally Posted by
Scooby Snacks
Incorrect. The electrical codes and plumbing codes of a 1920s house have to be up to code with the electrical codes and building codes of a home constructed in the 1920s, not 2016. (My wife is an inspector and has discussed the standards with me in detail. This standard is valid for all 50 states, if I remember right). Most home inspection standards are the same for all states because they are national and even international building codes. Thus, OP does not have to entirely replace the electrical and plumbing; only whatever he/she deems unacceptable.
I am mystified as to why OP would get an inspection on a foreclosure without paying to get the utilities turned on first. Checking the function of utilities is ESSENTIAL, and in a foreclosure situation, the buyer typically must pay for them to be turned on, not the seller. Thus, you are still in the dark about a lot of what's going on.
Looking at the pics and reading the report, the home seems like it's in decent shape for a house that's nearly 100 years old. Sure, you'll have some wood damage, possibly a leaky roof, maybe some water damage, (but you can't really be sure if leaking is still a problem with the water turned off) some loose nails and boards here and there, etc. . . You can't expect perfection from a 100 year old used house, and you shouldn't. If I were you, I would get the utilities turned on, have the utility related systems reinspected, and get a termite inspection, if you haven't had one done already.
I'm also quite surprised that your inspector didn't climb the roof NOR look under the crawl space and inspect them. He didn't get a close look at two very important structures of the home. Difficulty with access can be a problem in a few cases, but my wife does everything in her power to access both structures via telescoping ladders and other tools. She wants buyers to get their money's worth.
As for the money pit angle, whether the home is worth it to you is purely a personal decision. Even if the house is falling down around your ears, some buyers want that. They are handy, want to renovate a house themselves, and are interested in personalizing a home to suit their tastes. Other buyers want a home in perfect condition (new construction is the best choice for them). The condition that you're willing to accept is up to you. Just remember, you can't have it all. If it's super cheap, there's a reason.
It foreclosed in 2011. Investor has been sitting on it since. Not sure if there have been renters in it or not. The utilities were cut on. Noticed water pressure issues. Turned on 1 faucet and then another and saw a decrease. They had the HVAC condenser unit uninstalled. I had them reinstall it before the inspection. HVAC air temp was not as cool as the thermometer reading. Ran heat and it seemed to work.
Termite report just came back and termite activity is present.
As for crawlspace, it was partially filled in with dirt and sand. He stuck his body 3/4ths of the way through. I crawled in but heck I don't know what I'm looking at. Thanks for sharing your perspective on the idea of a "money pit".
08-30-2016, 06:35 PM
Location: Tucson for awhile longer
8,869 posts, read
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Reputation: 29230
Most of the things you've listed are things I've repaired on houses I've rehabbed (once built in 1898, the other in 1927). A qualified home inspector should be able to give you ballpark figures on what repairs will cost (which could be vastly different, depending on where you live).
The only thing that will tell you if this is a viable project FOR YOU is accurate assessments of similar homes in the same neighborhood that have been brought up to modern standards and sold. If it's an up-and-coming area, there should be a lot of RE activity. What are people asking for similar homes? What are they GETTING when the home is actually sold? Accurate info of that type will provide you with a number that's the maximum amount you should spend on repairs and updates. Compare the repair estimates you get from an inspector to that number.
People who don't know your neighborhood and have never seen this property cannot possibly tell you if this is a good project to take on or not.
08-30-2016, 08:29 PM
551 posts, read
690,810 times
Reputation: 1033
OP, if this is your first house and you have no repair experience with houses of this age I strongly suggest you look elsewhere. Houses over 100 years old are full of surprises - there is always something not listed on the report lurking somewhere; something that may be listed as a 'cheap fix' but ends up being wildly expensive because the parts no longer exist and something has to be completely gutted or the parts no longer exist and it has to be a custom part.
08-30-2016, 10:37 PM
Location: Florida -
10,213 posts, read
14,789,658 times
Reputation: 21845
Quote:
Originally Posted by
atlwy
Hi guys,
i'm a
first time home buyer under contract on a
1920s house . It was a
foreclosure purchased by an investor in 2011 .
Can you please my home inspection report and let me know if this is a money pit?
How much do you think it will cost me to get these repairs done? I'm a frugal single guy. Could do some of the remodeling myself. Don't need super high end appliances.
https://www.scribd.com/document/3225...pection-report
Thanks in advance
Even without looking at the Inspection Report (which I did), there are immediately about 5 red flags that would cause me a lot of concern.
1. First time home buyer - Not familiar with what you might be getting into or the cost of maintaining and upgrading a/this house.
2. 1920's house - Almost 100-years old. Unless the house has been substantially upgraded (which it doesn't appear to have been), it will need to be upgraded sooner or later.
3. Foreclosure - If the mortgage wasn't paid, it's highly unlikely anything else was done.
4. An Investor - Even if the party was a first-time investor, they obviously figured it wasn't worth the time and effort to make the investment pay-off.
5. 2011 - 5-years ago. Not long in terms of giving-up, but, quite a while in terms of going without regular maintenance, repairs and upgrades.
Beyond that, the obvious surface level repairs in the inspection report seem significant ... yet, probably don't cover the potential hidden problems (foundation, plumbing, electrical, etc).
Even if someone "gave" you this house, it is likely going to be a money pit. I think I would run, not walk - away from this one.
08-31-2016, 01:17 AM
11,025 posts, read
7,797,253 times
Reputation: 23702
Quote:
Originally Posted by
Scooby Snacks
Incorrect. The electrical codes and plumbing codes of a 1920s house have to be up to code with the electrical codes and building codes of a home constructed in the 1920s, not 2016. (My wife is an inspector and has discussed the standards with me in detail. This standard is valid for all 50 states, if I remember right). Most home inspection standards are the same for all states because they are national and even international building codes. Thus, OP does not have to entirely replace the electrical and plumbing; only whatever he/she deems unacceptable.
I am mystified as to why OP would get an inspection on a foreclosure without paying to get the utilities turned on first. Checking the function of utilities is ESSENTIAL, and in a foreclosure situation, the buyer typically must pay for them to be turned on, not the seller. Thus, you are still in the dark about a lot of what's going on.
Looking at the pics and reading the report, the home seems like it's in decent shape for a house that's nearly 100 years old. Sure, you'll have some wood damage, possibly a leaky roof, maybe some water damage, (but you can't really be sure if leaking is still a problem with the water turned off) some loose nails and boards here and there, etc. . . You can't expect perfection from a 100 year old used house, and you shouldn't. If I were you, I would get the utilities turned on, have the utility related systems reinspected, and get a termite inspection, if you haven't had one done already.
I'm also quite surprised that your inspector didn't climb the roof NOR look under the crawl space and inspect them. He didn't get a close look at two very important structures of the home. Difficulty with access can be a problem in a few cases, but my wife does everything in her power to access both structures via telescoping ladders and other tools. She wants buyers to get their money's worth.
As for the money pit angle, whether the home is worth it to you is purely a personal decision. Even if the house is falling down around your ears, some buyers want that. They are handy, want to renovate a house themselves, and are interested in personalizing a home to suit their tastes. Other buyers want a home in perfect condition (new construction is the best choice for them). The condition that you're willing to accept is up to you. Just remember, you can't have it all. If it's super cheap, there's a reason.
Whoa! The application of building codes is regulated locally; what your wife sees in Texas is totally irrelevant to Georgia, or wherever the subject property is. Many jurisdictions require projects to meet current codes if substantial renovation work is performed. A threshold commonly used is if the cost of the upgrades exceeds fifty percent of the property value the entire structure must comply with current standards.
08-31-2016, 07:05 AM
4,567 posts, read
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Reputation: 6725
Of course its a money pit.
But if its a good price and you can fix things yourself for almost nothing, it might be a good buy.
08-31-2016, 09:17 AM
1,201 posts, read
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Reputation: 2239
If you got it for free I would tear it down and start over. Otherwise all that wood rot isnt worth it. Probably has termites.
08-31-2016, 09:35 AM
Location: Columbia SC
14,225 posts, read
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Run Atlwy, Run.
08-31-2016, 09:41 AM
4,315 posts, read
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Reputation: 7796
From reading all the replies, it appears the posters who believe it is profitable are knowledgeable and able to do work like this .
It appears the OP is not.
A huge difference when you buy a place like this and only count as an expense the materials.
Once one has to account for every single hour of labor because it is hired labor $$$$, it changes the big picture quite quickly.
08-31-2016, 09:49 AM
4,315 posts, read
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Reputation: 7796
Quote:
Originally Posted by
399083453
Of course its a money pit.
But if its a good price and you can fix things yourself for almost nothing, it might be a good buy.
The OP said nothing that would give me the impression he could......."fix things himself for almost nothing "
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People in Group quarters - Military disciplinary barracks (%)
People in Group quarters - State prisons (%)
People in Group quarters - Other types of correctional institutions (%)
People in Group quarters - Nursing homes (%)
People in Group quarters - Hospitals/wards, hospices, and schools for the handicapped (%)
People in Group quarters - Hospitals/wards and hospices for chronically ill (%)
People in Group quarters - Hospices or homes for chronically ill (%)
People in Group quarters - Military hospitals or wards for chronically ill (%)
People in Group quarters - Other hospitals or wards for chronically ill (%)
People in Group quarters - Hospitals or wards for drug/alcohol abuse (%)
People in Group quarters - Mental (Psychiatric) hospitals or wards (%)
People in Group quarters - Schools, hospitals, or wards for the mentally retarded (%)
People in Group quarters - Schools, hospitals, or wards for the physically handicapped (%)
People in Group quarters - Institutions for the deaf (%)
People in Group quarters - Institutions for the blind (%)
People in Group quarters - Orthopedic wards and institutions for the physically handicapped (%)
People in Group quarters - Wards in general hospitals for patients who have no usual home elsewhere (%)
People in Group quarters - Wards in military hospitals for patients who have no usual home elsewhere (%)
People in Group quarters - Juvenile institutions (%)
People in Group quarters - Long-term care (%)
People in Group quarters - Homes for abused, dependent, and neglected children (%)
People in Group quarters - Residential treatment centers for emotionally disturbed children (%)
People in Group quarters - Training schools for juvenile delinquents (%)
People in Group quarters - Short-term care, detention or diagnostic centers for delinquent children (%)
People in Group quarters - Type of juvenile institution unknown (%)
People in Group quarters - Noninstitutionalized population (%)
People in Group quarters - College dormitories (includes college quarters off campus) (%)
People in Group quarters - Military quarters (%)
People in Group quarters - On base (%)
People in Group quarters - Barracks, unaccompanied personnel housing (UPH), (Enlisted/Officer), ;and similar group living quarters for military personnel (%)
People in Group quarters - Transient quarters for temporary residents (%)
People in Group quarters - Military ships (%)
People in Group quarters - Group homes (%)
People in Group quarters - Homes or halfway houses for drug/alcohol abuse (%)
People in Group quarters - Homes for the mentally ill (%)
People in Group quarters - Homes for the mentally retarded (%)
People in Group quarters - Homes for the physically handicapped (%)
People in Group quarters - Other group homes (%)
People in Group quarters - Religious group quarters (%)
People in Group quarters - Dormitories (%)
People in Group quarters - Agriculture workers' dormitories on farms (%)
People in Group quarters - Job Corps and vocational training facilities (%)
People in Group quarters - Other workers' dormitories (%)
People in Group quarters - Crews of maritime vessels (%)
People in Group quarters - Other nonhousehold living situations (%)
People in Group quarters - Other noninstitutional group quarters (%)
Residents speaking English at home (%)
Residents speaking English at home - Born in the United States (%)
Residents speaking English at home - Native, born elsewhere (%)
Residents speaking English at home - Foreign born (%)
Residents speaking Spanish at home (%)
Residents speaking Spanish at home - Born in the United States (%)
Residents speaking Spanish at home - Native, born elsewhere (%)
Residents speaking Spanish at home - Foreign born (%)
Residents speaking other language at home (%)
Residents speaking other language at home - Born in the United States (%)
Residents speaking other language at home - Native, born elsewhere (%)
Residents speaking other language at home - Foreign born (%)
Class of Workers - Employee of private company (%)
Class of Workers - Self-employed in own incorporated business (%)
Class of Workers - Private not-for-profit wage and salary workers (%)
Class of Workers - Local government workers (%)
Class of Workers - State government workers (%)
Class of Workers - Federal government workers (%)
Class of Workers - Self-employed workers in own not incorporated business and Unpaid family workers (%)
House heating fuel used in houses and condos - Utility gas (%)
House heating fuel used in houses and condos - Bottled, tank, or LP gas (%)
House heating fuel used in houses and condos - Electricity (%)
House heating fuel used in houses and condos - Fuel oil, kerosene, etc. (%)
House heating fuel used in houses and condos - Coal or coke (%)
House heating fuel used in houses and condos - Wood (%)
House heating fuel used in houses and condos - Solar energy (%)
House heating fuel used in houses and condos - Other fuel (%)
House heating fuel used in houses and condos - No fuel used (%)
House heating fuel used in apartments - Utility gas (%)
House heating fuel used in apartments - Bottled, tank, or LP gas (%)
House heating fuel used in apartments - Electricity (%)
House heating fuel used in apartments - Fuel oil, kerosene, etc. (%)
House heating fuel used in apartments - Coal or coke (%)
House heating fuel used in apartments - Wood (%)
House heating fuel used in apartments - Solar energy (%)
House heating fuel used in apartments - Other fuel (%)
House heating fuel used in apartments - No fuel used (%)
Armed forces status - In Armed Forces (%)
Armed forces status - Civilian (%)
Armed forces status - Civilian - Veteran (%)
Armed forces status - Civilian - Nonveteran (%)
Fatal accidents locations in years 2005-2021
Fatal accidents locations in 2005
Fatal accidents locations in 2006
Fatal accidents locations in 2007
Fatal accidents locations in 2008
Fatal accidents locations in 2009
Fatal accidents locations in 2010
Fatal accidents locations in 2011
Fatal accidents locations in 2012
Fatal accidents locations in 2013
Fatal accidents locations in 2014
Fatal accidents locations in 2015
Fatal accidents locations in 2016
Fatal accidents locations in 2017
Fatal accidents locations in 2018
Fatal accidents locations in 2019
Fatal accidents locations in 2020
Fatal accidents locations in 2021
Alcohol use - People drinking some alcohol every month (%)
Alcohol use - People not drinking at all (%)
Alcohol use - Average days/month drinking alcohol
Alcohol use - Average drinks/week
Alcohol use - Average days/year people drink much
Audiometry - Average condition of hearing (%)
Audiometry - People that can hear a whisper from across a quiet room (%)
Audiometry - People that can hear normal voice from across a quiet room (%)
Audiometry - Ears ringing, roaring, buzzing (%)
Audiometry - Had a job exposure to loud noise (%)
Audiometry - Had off-work exposure to loud noise (%)
Blood Pressure & Cholesterol - Has high blood pressure (%)
Blood Pressure & Cholesterol - Checking blood pressure at home (%)
Blood Pressure & Cholesterol - Frequently checking blood cholesterol (%)
Blood Pressure & Cholesterol - Has high cholesterol level (%)
Consumer Behavior - Money monthly spent on food at supermarket/grocery store
Consumer Behavior - Money monthly spent on food at other stores
Consumer Behavior - Money monthly spent on eating out
Consumer Behavior - Money monthly spent on carryout/delivered foods
Consumer Behavior - Income spent on food at supermarket/grocery store (%)
Consumer Behavior - Income spent on food at other stores (%)
Consumer Behavior - Income spent on eating out (%)
Consumer Behavior - Income spent on carryout/delivered foods (%)
Current Health Status - General health condition (%)
Current Health Status - Blood donors (%)
Current Health Status - Has blood ever tested for HIV virus (%)
Current Health Status - Left-handed people (%)
Dermatology - People using sunscreen (%)
Diabetes - Diabetics (%)
Diabetes - Had a blood test for high blood sugar (%)
Diabetes - People taking insulin (%)
Diet Behavior & Nutrition - Diet health (%)
Diet Behavior & Nutrition - Milk product consumption (# of products/month)
Diet Behavior & Nutrition - Meals not home prepared (#/week)
Diet Behavior & Nutrition - Meals from fast food or pizza place (#/week)
Diet Behavior & Nutrition - Ready-to-eat foods (#/month)
Diet Behavior & Nutrition - Frozen meals/pizza (#/month)
Drug Use - People that ever used marijuana or hashish (%)
Drug Use - Ever used hard drugs (%)
Drug Use - Ever used any form of cocaine (%)
Drug Use - Ever used heroin (%)
Drug Use - Ever used methamphetamine (%)
Health Insurance - People covered by health insurance (%)
Kidney Conditions-Urology - Avg. # of times urinating at night
Medical Conditions - People with asthma (%)
Medical Conditions - People with anemia (%)
Medical Conditions - People with psoriasis (%)
Medical Conditions - People with overweight (%)
Medical Conditions - Elderly people having difficulties in thinking or remembering (%)
Medical Conditions - People who ever received blood transfusion (%)
Medical Conditions - People having trouble seeing even with glass/contacts (%)
Medical Conditions - People with arthritis (%)
Medical Conditions - People with gout (%)
Medical Conditions - People with congestive heart failure (%)
Medical Conditions - People with coronary heart disease (%)
Medical Conditions - People with angina pectoris (%)
Medical Conditions - People who ever had heart attack (%)
Medical Conditions - People who ever had stroke (%)
Medical Conditions - People with emphysema (%)
Medical Conditions - People with thyroid problem (%)
Medical Conditions - People with chronic bronchitis (%)
Medical Conditions - People with any liver condition (%)
Medical Conditions - People who ever had cancer or malignancy (%)
Mental Health - People who have little interest in doing things (%)
Mental Health - People feeling down, depressed, or hopeless (%)
Mental Health - People who have trouble sleeping or sleeping too much (%)
Mental Health - People feeling tired or having little energy (%)
Mental Health - People with poor appetite or overeating (%)
Mental Health - People feeling bad about themself (%)
Mental Health - People who have trouble concentrating on things (%)
Mental Health - People moving or speaking slowly or too fast (%)
Mental Health - People having thoughts they would be better off dead (%)
Oral Health - Average years since last visit a dentist
Oral Health - People embarrassed because of mouth (%)
Oral Health - People with gum disease (%)
Oral Health - General health of teeth and gums (%)
Oral Health - Average days a week using dental floss/device
Oral Health - Average days a week using mouthwash for dental problem
Oral Health - Average number of teeth
Pesticide Use - Households using pesticides to control insects (%)
Pesticide Use - Households using pesticides to kill weeds (%)
Physical Activity - People doing vigorous-intensity work activities (%)
Physical Activity - People doing moderate-intensity work activities (%)
Physical Activity - People walking or bicycling (%)
Physical Activity - People doing vigorous-intensity recreational activities (%)
Physical Activity - People doing moderate-intensity recreational activities (%)
Physical Activity - Average hours a day doing sedentary activities
Physical Activity - Average hours a day watching TV or videos
Physical Activity - Average hours a day using computer
Physical Functioning - People having limitations keeping them from working (%)
Physical Functioning - People limited in amount of work they can do (%)
Physical Functioning - People that need special equipment to walk (%)
Physical Functioning - People experiencing confusion/memory problems (%)
Physical Functioning - People requiring special healthcare equipment (%)
Prescription Medications - Average number of prescription medicines taking
Preventive Aspirin Use - Adults 40+ taking low-dose aspirin (%)
Reproductive Health - Vaginal deliveries (%)
Reproductive Health - Cesarean deliveries (%)
Reproductive Health - Deliveries resulted in a live birth (%)
Reproductive Health - Pregnancies resulted in a delivery (%)
Reproductive Health - Women breastfeeding newborns (%)
Reproductive Health - Women that had a hysterectomy (%)
Reproductive Health - Women that had both ovaries removed (%)
Reproductive Health - Women that have ever taken birth control pills (%)
Reproductive Health - Women taking birth control pills (%)
Reproductive Health - Women that have ever used Depo-Provera or injectables (%)
Reproductive Health - Women that have ever used female hormones (%)
Sexual Behavior - People 18+ that ever had sex (vaginal, anal, or oral) (%)
Sexual Behavior - Males 18+ that ever had vaginal sex with a woman (%)
Sexual Behavior - Males 18+ that ever performed oral sex on a woman (%)
Sexual Behavior - Males 18+ that ever had anal sex with a woman (%)
Sexual Behavior - Males 18+ that ever had any sex with a man (%)
Sexual Behavior - Females 18+ that ever had vaginal sex with a man (%)
Sexual Behavior - Females 18+ that ever performed oral sex on a man (%)
Sexual Behavior - Females 18+ that ever had anal sex with a man (%)
Sexual Behavior - Females 18+ that ever had any kind of sex with a woman (%)
Sexual Behavior - Average age people first had sex
Sexual Behavior - Average number of female sex partners in lifetime (males 18+)
Sexual Behavior - Average number of female vaginal sex partners in lifetime (males 18+)
Sexual Behavior - Average age people first performed oral sex on a woman (18+)
Sexual Behavior - Average number of woman performed oral sex on in lifetime (18+)
Sexual Behavior - Average number of male sex partners in lifetime (males 18+)
Sexual Behavior - Average number of male anal sex partners in lifetime (males 18+)
Sexual Behavior - Average age people first performed oral sex on a man (18+)
Sexual Behavior - Average number of male oral sex partners in lifetime (18+)
Sexual Behavior - People using protection when performing oral sex (%)
Sexual Behavior - Average number of times people have vaginal or anal sex a year
Sexual Behavior - People having sex without condom (%)
Sexual Behavior - Average number of male sex partners in lifetime (females 18+)
Sexual Behavior - Average number of male vaginal sex partners in lifetime (females 18+)
Sexual Behavior - Average number of female sex partners in lifetime (females 18+)
Sexual Behavior - Circumcised males 18+ (%)
Sleep Disorders - Average hours sleeping at night
Sleep Disorders - People that has trouble sleeping (%)
Smoking-Cigarette Use - People smoking cigarettes (%)
Taste & Smell - People 40+ having problems with smell (%)
Taste & Smell - People 40+ having problems with taste (%)
Taste & Smell - People 40+ that ever had wisdom teeth removed (%)
Taste & Smell - People 40+ that ever had tonsils teeth removed (%)
Taste & Smell - People 40+ that ever had a loss of consciousness because of a head injury (%)
Taste & Smell - People 40+ that ever had a broken nose or other serious injury to face or skull (%)
Taste & Smell - People 40+ that ever had two or more sinus infections (%)
Weight - Average height (inches)
Weight - Average weight (pounds)
Weight - Average BMI
Weight - People that are obese (%)
Weight - People that ever were obese (%)
Weight - People trying to lose weight (%)