Is it crazy to buy a house that needs a new roof and has water damage to the ceilings?
My title explains my quandary. We've been looking for a house for a while without success. We saw one today which from the looks of it is my "House O' Dreams" and it's very inexpensive- because it needs a new roof and new ceilings it looks like on much of the upper story. Is it crazy to buy a house like this? It's been on the market a long time, I think beause people were scared off by the work that needs to be done. We need to get a home inspection if we decide to take the next step in considering buying it. My husband and I both love it desperately, and it is a great deal, though I'm wondering if we're crazy for even considering it. My husband is handy to some extent, but we'd need to hire people for the majority of the work. We were thinking that even if it would cost 20-30K, it would still be a good buy for the total cost of the house. It was built in the early 50's, so old but not super old.