Where do we start getting estimates for a fixer upper property we are considering buying to live in?
We are looking at a stone house that is described as a 'handyman special' with a long vertical crack that runs through several of the stones in the back of the house. The house needs a new roof, windows, wiring and quite possibly plumbing repairs, as it has sat vacant for at least a year. That is only what we can see, and who knows the condition of the roofing studs underneath, along with other unseen issues. The interior of the house is charming, never have been the victim of a bad 'remuddling' job as is so common in other houses we have looked at. The owner says to make an offer. How would we know how much to offer, considering there is no way to see the problems which may be underneath, which we wouldn't find out about until the contractor uncovers them?
Have some contractors come out and inspect it and bid on the work. Many will do this for free. You also should include an inspection contingency if you decide to make an offer. A home inspection is usually around $300 (in my area, but probably similar where you are) but will go from basement/crawl space/slab up to the roof. A good inspector will take about half the day to inspect everything and then give you a report complete with pictures of any problems discovered - and possibly what it would entail to fix.
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Fair Housing and Equal Opportunity