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Like a 20 year old house, but have few concerns

Hello,
We really liked a 20 year old house near Pittsburgh.It has top ranking school district, Is being sold for 30 -  40 K less than market value due to foreclosure, good community.

But had few concerns before proceeding with an offer:

1. We wanted a leveled yard, but this house has a yard around .24 acres and it is has a slope of around 35 to 45 degree. Is it hard to level a yard or even possible to level a yard? if yes what would be the cost for that. Or should we even consider leveling the yard :)

2. The furnace and roof was not changed since the house was built:
what is the life of Shingle roof and furnace on an average. and much would it cost fixing it when time comes?

3.How much will the value of the house depreciate after 10 more years? (It is a top ranking school district)


Once someone help us figure out this , it will be easier for us to decide.

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March 06 2012 - St. Clair
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Answers (5)

Best Answer
Of coarse a local Realtor will be able to assist you more than me, not knowing the specifics but...

1. Leveling the yard may or may not be an option, a yard usually has slope for a reason, either drainage, surrounding topography, or town codes. Track or neighborhood homes usually cannot be regraded, because it would affect neighboring properties. If u have no neighbors and the basement and topography allows you can re-level, but cost would be very expensive. Alot of work and heavy equipment 

2. Asphalt Roofs last on average 20 to 30 years depending on type of shingle. A 20 year old roof may need replacing, but may last another 10 years. Look for curling and lose materials. Furnaces can last forever as long as they are maintained, but efficiency is what you lose. New roof should be 3k to 6k on newer home.

3.That is something only a local realtor can help with, every market is different

I hope I have been helpful and if you have any more questions please feel free to contact me anytime. Good Luck
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March 06 2012
Have an inspection done allowing you to walk away if in fact you aren't happy with the outcome. It's one way to be certain you won't have to buy a home that could be the "money pit".  If you have doubts, follow you better judgement.
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March 06 2012
An inspector would help answer some of those questions.  It is not acceptable to do an inspection before you offer, not the norm, but it has been done.  At the time of inspection before or after your accepted contract you could also bring a landscaper/designer in to give him an feasibility opinion/cost on leveling out the yard.
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March 06 2012
I must agree with Christy would be best to get with a local Realtor. They can assist you in evaluating the home.
They will also be able to help you find a  home inspector to evaluate the home and answer your questions.

Best of Luck
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March 06 2012
I would recommend getting with a local Realtor in that area to have them look at the home with you and give their professional opinion of the home and questions that you have.

I would also recommend having a home inspection which will shed some light on your questions about the life of the systems and whether or not its feasible to level the land.

Hope this helps!
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March 06 2012
 
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