Yeah, that's certainly a possibility, and it's certainly preferable to moving into a place that's going to cost us several sets of arms and legs, but I really ing hate our complex. We were living there rent free for six months and I still felt like we were getting screwed on the deal.
Yes, I think we can go month to month, but it will be a jump from what we currently pay to market value, since my rent is grandfathered at the rate of 5 years ago.
It's not the school district, Jim, though your point is pretty good. We hope to be back home before having children of school age, and far, far away from Houston ISD. We're pretty specific about the area we want to be in, because of the research we've done. I've gotten to be very familiar with the Houston market and what will suit our needs best, and fit our price range. This area is the best I've found in terms of price, potential, everything. If this falls through, we may just go ahead and renew for six months and keep looking. Give us a chance to save up for the new living room furniture we need, anyway.
Ask the sellers to add in a 2 year Home Warranty plan that will cover all the might-be's pointed out by the inspection, well, for 2 years at least. Probably every home that old enough has a lot of them. Yes, your home will require maintenance which implies a off and on addition of real money (roofs, ACs, plumbing (pray hard about this one)).
I had the sellers replace the box and some other eletrical work after the inspection. The seller also purchased home insurance. You want the seller to fix as much as possible before you agree to buy the house. Thats the whole reason for the inspection. I would have them fix everything, but since the a/c would cost a lot, at least make them fork over half. That is if the house is still in your price range after costs.
Make sure they also do pest and termite treatment.
That's something they should at least tell you, if not explain it to you as well, but if they don't explain it to you at least if they tell you you can always Google it.
You should get more specifics about that, what is the material, why was it discontinued and what were the specifics of the failure?
If that leads you to understand that it's a serious issue, get estimates, actually get them either way so you can use them when you deal with the seller...
Now electrically that can be pretty serious, Google breaker and high failure rates, you'll find some interesting things.
Again, find out what kind and type and what type of failure they are talking about...
I think it should be pretty straightforward that if the inspectors told you the AC ducting/unit has to be replaced, then either make the owner replace them or have them adjust the price accordingly. If you want the house this seems like the only way to approach things. You have the leverage of being able to walk away, so use it.
Bail. As fast as you can.
Just from prior experience alone, you are looking at roughtly $25,000 in upgrades.
Sounds like the house needs to be gutted, IMO.
When I was buying my first home, the keyword was patience. I was looking in a particular area and thought I was dead set on living there, but every home I looked at fell through for one reason or another. I ended up finding the absolute perfect home in a completely different area. Don't let your hatred for your apartment cause you to rush into a situation, i.e. major repairs, that you'll regret later. I think you should keep looking, be patient, and the perfect home will find you.We really want to buy in that area. We really want out of our apartment. If this doesn't go through, I'm not sure what we'll do. There are so many issues tied into this.
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