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Discussion Starter · #1 ·
So last night a house that my wife and I were looking at is now going to be ours. It is by no means a starter house. That doesn't mean it's pretty though. It has a lot of things that make it very unique that most houses do not have. I don't want to get too deep involved in it right now because I have a headache from all the beers I've pounded last night, and most people wouldn't care. The house needs A LOT of work. With interest rates as low as they are I just don't feel like buying and flipping. It's not that I cannot because I surely could, it's just I'm busy enough. Id like to concentrate that energy into making babies! LOL

If I take a step back and look at things I have vs my age I am doing very well. I am just poor now. I have a saying I've stuck to. "Pay now play later" Basically pay my dues while I'm young so I can ease up when these bones ache more than they already do.


I can raise a family in this house and die in this house. It's in a very nice quite part of Chicago. Some of you know that I need to live in Chicago and have no choice. It kind of stinks but it's part of a career someone choose. Any way you slice and dice it this could get real interesting. I have lots for sledge hammer days ahead of me and dust masks.

My lawyer is a barracuda and I should be well taken care of. I hope this house passes inspection and I can get ready to tackle all sorts of "interesting" projects that involve lots of swearing!

I need to go drink more water now.
 

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Congratulations on the new home. So what all do you have to do to it? Is any part of the house particularly worrisome when it comes to the inspection?

I'd be more worried about the appraisal than the inspection. If big repair stuff is found then you should be able to get the seller to fix it.
 

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Congratulations on the new home. So what all do you have to do to it? Is any part of the house particularly worrisome when it comes to the inspection?

I'd be more worried about the appraisal than the inspection. If big repair stuff is found then you should be able to get the seller to fix it.
Chris, I can tell you how much the inspection is worth $89,900 - $300 for the inspection itself. I had a home purchase that I was able to back out of due to that inspection. Not only did i save my own ass, I saved anyone else who was looking at the property.
 

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I know inspections are worth it, trust me. My inspector found a few problems that I'm glad were taken care of before the closing. I was just sayin' that even if stuff is found with the inspection the seller will take care of the issues, so you don't need to stress too much about it.
 

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Discussion Starter · #9 · (Edited)
Congratulations on the new home. So what all do you have to do to it? Is any part of the house particularly worrisome when it comes to the inspection?

I'd be more worried about the appraisal than the inspection. If big repair stuff is found then you should be able to get the seller to fix it.
Okay well I'm drinking espresso and at this early hour I am going to get my hair cut.

Why do you say worried about the appraisal?

What's wrong with the house... build wise its solid as can be or so I firmly believe. (getting it inspected and radon tested)

The previous owner did everything for cheap. He painted over wallpaper. Everything is wall papered. He put granite countertops in but never removed the old back splash. There is 1980's tiles in the foyer. There are chanedelers in every room. The patio needs to be mudjacked up in the corner. It goes where the garage is, no concern and no leakage that I've seen. I will redo the concrete. The basement has wood paneling. The electrical box has pushmatics. Not the oldest, I've seen houses with fuses. That's old.

It's got a new roof and soffits. New windows except for the large 5 window curved out windows (expensive ones)
New tile on the kitchen floor. He did some stuff like refinish wood floors. Oh the family room has some horendious vynal tiles. It has a mini bar in living room which I would like to open up and remove.

I told the guy this house needs work. He knows it too. You can't get by because nobody else fixes the house and you think you can do it cheaply that it will go unnoticed. Id rather the house be left the way it was. Payed a little less and did it myself.

The house is absolutely wonderful despite how hard I've been on it. I just didn't want to show that type of emotion when I viewed it. I told the owner the house had solid bones. I wasn't a complete dick.

It has so much opportunity in it's current neighborhood to shine bright. It needs a guy like me with a pair of seasoned work boots to get dirty. It's going to require me to save my money too because I CANNOT AT ALL AFFORD to do this over night. NOW WAY, NO HOW!

1 dime at a time. Mark my words I will not sell this house*


* If I'm fortuante to live to a nice ripe old age I'd like to retire out of this state.... I mean who wouldn't want to live here in Illinois....

I'll be tired today at work but with all this firepower I should be okay I hope... Fingers crossed home inspection passes with flying colors. I would rather the house be legit than to go back to the tables and fight again. I've had enough of that drama. Plus unless it's a heath hazard he doesn't have to fix anything if he wants to put his foot down. I'd rather he not touch anything. Id rather control the game at this point. OH MAN FINGERS SO TIGHTLY CROSSED!
 

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Sounds like most of the stuff is cosmetic, which is all good. You'll have a lot of work ahead of you, but in the end you'll have the exact house you want. :cheers

As for the appraisal, just hope it comes in at or over your agreed price. It can be a PITA if it comes in low. That may sound like good news, but the seller might not lower their price because of finances; and the mortgage company may not lend you as much if what you're buying is worth less that what you're paying.
 

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sounds like it needs a lot of work. lowball the shit out of them.
too many nice ready-to-move-in houses on the market to pay market prices on one that's out of date. plenty of "nice" REO properties out there that can be had for cents on the dollar too.
 

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sounds like it needs a lot of work. lowball the shit out of them.
too many nice ready-to-move-in houses on the market to pay market prices on one that's out of date. plenty of "nice" REO properties out there that can be had for cents on the dollar too.
this.



that's a long list of ugly shit.
 

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Greg
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Not in decent Chicago areas with attached garages that aren't corner homes. I looked. I did very well on my accepted price. Zero regrets if all goes smooth.
You know what works for you, congrats. I think what people are saying is that a home is a lot of work and to add the things you mentioned is kind of over the top. If you we're able to address those things before you move in, that would be one thing, but a double stacked to do list is tough to swallow.
 

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Discussion Starter · #18 ·
I'm 29 years old. These are things I can do. I have a close large family. It's amazing all these years I help uncles, god parents, cousins, and friends. All these people are eager to help out offering openly. I feel like crying. It's amazing. I've done so much and never asked. I'm betting these people felt like I feel when I help them out. This list is things I want not need. This list is because I know I can and will do better for myself and future family. I've been in houses where people buy cheap or don't work on at all. Kinda like my inlaws. They are happy god bless them. Everything old. They can afford to fix it they just have different ideas of what they need. I like nice stuff when it comes to remodeling. If I have to save a little more to earn a nicer toilet to poop in so be it.
 
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