Expert: Bruce E. Johnson - 8/17/2009

Question
QUESTION: We want to buy this 1000 sq.ft. house that is made of block.  It is a little lopsided and would like to know if it is costly to repair it.  Here are the obvious problems: some areas of the ceiling have cracks,especially in the kitchen, the floors are uneven and in some sections, bumpy,and it leaked during Hurricane Dolly(The roof has been replaced since.)If we get a home inspection, would he be able to tell us about the problems that are not visible? The home was built in 1878 and has central air and heat. The house is livable and has water and electricity running.) It is selling for $45,000.  We would offer a lower price as it has no curb appeal and of the problems I listed above.  I would greatly appreciate it if you could give us an insight as we want to buy it and because it is a new listing. (It's been out on the market only 6 days.)

ANSWER: Hi Esther, 45,000 seems like a cheap price unless other homes in the area cost less.  If similar homes in the area (in good condition) are selling for 100,000 then it is a good buy for sure. Then you can afford to put some money into the place and increase your equity.  If comparable but nicer homes in the area are only selling for 65,000 then you only have a 20,000 dollar window to break even in fixing the place up.  A qualified home inspector can pretty much tell you what you want to know about the problems with the house.  They generally don't give you repair costs but can give you enough information so that you can deal with contractors.  The cracking of the ceilings can possibly be from the hurricane.  High winds blowing against a roof structure can loosen the sheathing enough to allow the rafters to move around and cause internal cracking.  If the house is out of level and the walls tilted out of plumb then I would pass on this place, the cost of fixing those kinds of problems will far outweigh any cheapness of price.  I hope this information helps feel free to write again regarding this or other matters, sincerely bruce e johnson..bejohnsonconsulting.com

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QUESTION: The house looks a little tilted to the left, but looks like that from the outside.  Does this matter or should I just forget about it? And as for the cost of the houses in the neighborhood, it varies.  Some are very nice houses  valued in the 100s and some as low as 30s.

Answer
Hi again Esther, if you have access to a level you can put it up against the walls that look tilted and see if the house is really tilted or if it is just an optical illusion of tilting.  If the home is drastically tilting then I would pass on it.  It will ultimately be up to you to determine whether or not it is worth buying and fixing up so a good look at the neighborhood homes and pricing can help you make the decision as to how much you want to offer for the place or want to walk away and look elsewhere.  I hope this information helps feel free to write again regarding this or other matters, sincerely bruce e johnson..bejohnsonconsulting.com