Asked by Etta Jones, Irving, TX • Thu Apr 17, 2008
Found a 5BR/3BA in Stonewood Heights subdivision. 2454 sq ft, built in 1986 but fully updated inside (seller is an REO flipper), good curb appeal. Home appraised for exact amount of my loan: $136,500 (not the highest or the lowest in the subdivision). Inspection was good, except entire A/C system is 22 yrs old and about to die (seller won't help out). Neighborhood is a little shabby: unkempt lawns, too many cars parked on street, etc. but otherwise family friendly and quiet.
My only concern is if the home warranty doesn't cover the replacement of the A/C system (which will have to be done very soon), and I have to come out of pocket $10K to do it myself, will a brand new A/C system raise the market value enough for it to still be a good deal for me? I'm not crazy about the neighborhood appearance, but I love the house and want it to be a good investment. We plan on being there about 7 years.
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