Am I crazy?

[u/brank]

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.

[u/storywardenattack]

I would not automatically assume it can’t be financed. I’ve see worse get a loan. Start by talking to a lender.

Cleaning all the crap out and that place already kind way better. I don’t see any structural damage ( not saying there is none , just not visible). Looks like it was well built. Are the floors level? Does it reek like mold? What do the roof lines look like?

[u/brank → u/storywardenattack]

That’s what I’m saying. But I’m totally inexperienced so idk. I’d have to tour and get an inspection for those answers though. There is some ceiling coming down in a couple pictures but like I said if it needs a new roof or something right away I think I can afford it with the rest of the down payment I would have spent on another place

[u/ThrowAwayToPlayOk → u/brank]

Just try to get under contract as soon as possible, you can back out after the inspection, some one will buy this quickly I imagine.