Short answerIt can be, if the price reflects the full cost of the work plus a cushion, your loan and insurance will allow the house as is or with the repairs planned, and you have the cash and time to handle it. Get contractor quotes before you commit, and keep your inspection contingency so you can confirm nothing else is hiding.
A simple test
- Price every known problem with real quotes.
- Add a cushion for what you cannot see.
- Check your loan program's property rules and insurance.
- Compare the total to similar houses in good condition.
Related: buying as is and five year repair budget.
Frequently asked questions
Can I finance the repairs?
Some renovation loan programs exist. Ask your lender.
What problems are hardest to price?
Structural movement, chronic water, and septic failure.
Keep reading
Looking at a house and not sure what you are getting into?
Ask for a free Before You Offer review. Send me the listing. I look over the photos, the seller's disclosure, and recent sales, then flag likely condition issues and planning cost ranges before you write an offer.
Request a Before You Offer reviewOr call or text (812) 525-5489, or email john@yourpropertynegotiator.com.
The Before You Offer review is a REALTOR® and contractor review of the listing, not a home inspection. It is for buyers who are not already working with an agent. If you have an agent, please bring these questions to your agent.
Written by John Long, REALTOR®, 1 Percent Lists Indiana Real Estate. Working contractor who has priced hundreds of home inspection repair requests. Former labor relations negotiator for a major manufacturer and U.S. Coast Guard veteran.
John Long, REALTOR® · 1 Percent Lists Indiana Real Estate · (812) 525-5489 · yourpropertynegotiator.com
This page is general information, not a substitute for a professional home inspection, and not legal, tax, insurance, or lending advice. Ask a real estate attorney about contracts and disclosure, a CPA about taxes, your lender about loan rules, and a licensed inspector or tradesperson about your house. Nothing here guarantees a sale price, net proceeds, repair cost, payment, timeline, appraisal, inspection result, or loan approval. Cost figures are planning estimates, not bids. I own Wardmark Property Operations LLC, a contracting company. You are always free to use any contractor you choose.