Hi all. We are interested in purchasing our first home. The house was built in 1929, and timbers used mainly are Rimu timbers. Builder's report suggests borers in some places and adding more piles to support its foundation as well as renewing the roof within 5 years. The attic needs a good cleanup as traces of rodents were sighted but interior seems fine. The house value has increased more than $100,000 in last 2 years due to the hot market...
My question is that do you think this is a good investment? Will the maintenance costs of this old house be huge..? I was quoted about $20,000 to renew the whole roof.
Should I avoid this old house and go for newer properties?
Thank you in advance.
My question is that do you think this is a good investment? Will the maintenance costs of this old house be huge..? I was quoted about $20,000 to renew the whole roof.
Should I avoid this old house and go for newer properties?
Thank you in advance.
Comment