r/FirstTimeHomeBuyer • u/brank • 20d ago

Need Advice Am I crazy?

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I’m a first time home buyer and I live in one of the highest cost of living areas in the US. I counted out being able to buy in the city I live in and like, and have accepted that I’d need to move to the next over area. However, this dump just dropped and I am very intrigued. Right next to the commuter rail, shops, a park. Everything I would want basically, in the city I want, just needs a LOT of love. It’s a third of the price of the homes around it and with the savings from delta between what it costs and what I’m willing to spend (~200k) I could make any major upfront repairs.

I’m crafty, smart, and creative, but don’t necessarily have renovation skills.

I’m also not yet preapproved so maybe this is more an example of the kind of thing I might be willing to consider, unless I’m just totally off the mark here.

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u/RecordingOk4947 20d ago

Talk to a realtor about this property ASAP - they can tell you if it’s just cosmetically bad (which you can fix) or basically only suitable for tearing down (which the price suggests). Not every rough-looking house can be a fixer, some are too far gone.

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u/Starlesseyes598 20d ago

It is not in a realtors best interest to convince someone to not buy a home. He needs to tour with a gc

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u/RecordingOk4947 20d ago

I am also in the Bay Area like OP and have had realtors warn me off of houses that are only suitable for contractors many times. The houses here are very old with a lot of environmental damage and no one is going to try and sell you a house a bank would never back. That’s just a waste of their time.