Advice on my first house (long post warning)

kissmybASS01 · #1 12-20-2009, 01:06 PM

I think I found my 1st house. However, there are a few issues (aren't there always)

Here's my situation. I'm (depressingly) single, so I am limited in regards to price and therefore the area of the city.

The house is situated in an older, established end of the city and most of the homes were built in the early 1900s. Overall, it's a great house. Approx 1200 sq ft, hardwood floors, a "mechanic's" garage, and even has a newer addition at the back of the house with a wood stove. Most of the houses in this area only have partial basements, or even none at all - usually accessed via a "trap door" in the floor. This one has a real staircase off the kitchen, and has usable storage space in addition to the washer/dryer area down there.

Here is my dilemma:
1) The windows are close to original. I would need to upgrade all the windows to tri-pane windows. The current ones are still in good shape. They're not all frosted up, nor do they feel like they are radiating any cold, but they're still not the most energy efficient.

2) While the furnace is newer, I NEED central air conditioning.

3) The kitchen lacks counter space. The overall size of the kichen is large, but there's only a small counter. I would need to add an island/peninsula type thing with some more cabinetry (and possibly a dishwasher) Luckily, I work at a cabinet shop, so I might be able to get one made relatively cheaply. The plumbing/reno/install is another issue tho...

4) Lastly, the circuit panel in the house needs to be upgraded - might not qualify for insurance if I don't. It has the old glass screw-in fuses. A new panel upgrade to 100 amp is about $2K.

The asking price is about $20K less than what I was pre-approved for - so that's not a problem. However, I guess I need to weigh my upgrades against the original price. Or...keep looking on the chance I might find something else. As well, my current apartment lease is to expire March 31st, so time is ticking.

I'm thinking this not a unique situation to my Canadian city. Let me know what you guys think and or any relevant stories about your first abode.

tplyons · #2 12-20-2009, 06:00 PM

Out of those four things, you only NEED to do one right away... the electrical. Do that, save the rest for when you have a few extra bucks.

You can survive without windows for a while. We were in this house ten years before we replaced the windows. However, you will need to do this before central air. We did central air first and found that the AC couldn't keep up. We replaced the windows and no longer an issue.

Secondly, central air, as much as it sounds like a must, you can get a $200 window unit for your bedroom and rely on your windows at night.

A new kitchen is nice, but is it really a necessity at this point? However, if you're working at the cabinet shop, it may be extremely beneficial at this point.

Either way, prioritize. Figure out which ones are necessary, then a luxury, and figure out which order to do them in.

fdeck · #3 12-20-2009, 06:09 PM

Air conditioning, in Manitoba? How hot does it get? We didn't run the A/C in Madison last summer.

Beware of "pre approval." It is what the banker thinks he can loan you, not what you can necessarily afford. Only you can decide what you can afford.

RWP · #4 12-20-2009, 06:37 PM

All the comfort items aside, the electrical sounds like it needs a really close look. If the panel is old so is all the wiring in the house. That would be a huge red flag for me because of issues I have run into with houses and wiring. I would have a electrician look over everything and get you costs for upgrading. If nothing else, a bargaining chip. Just be sure you know exactly what you are getting into, NEVER assume ANYTHING.

**jmattbassplaya** · #5 12-20-2009, 06:59 PM

What`s your current living situation? Really think about whether this is a worthwhile investment/upgrade in living or a potential money pit.

fdeck · #6 12-20-2009, 07:16 PM

Quote:

Originally Posted by RWP

All the comfort items aside, the electrical sounds like it needs a really close look. If the panel is old so is all the wiring in the house. That would be a huge red flag for me because of issues I have run into with houses and wiring. I would have a electrician look over everything and get you costs for upgrading. If nothing else, a bargaining chip. Just be sure you know exactly what you are getting into, NEVER assume ANYTHING.

This is a good point. If it's just a service panel that needs to be changed out, then it's a fairly self contained job, albeit expensive. If the house has knob-and-tube wiring, it's a much bigger job. It might be worth having a real electrician take a look, rather than a fly by night "inspector."

JimB52 · #7 12-20-2009, 07:30 PM

If it's in a good area and has a few more features than typical houses in the area, it's a sound investment. Any improvements will pay for themselves when you sell in the future.
Consider having an engineer look at the house, and def. check into the wiring, although that should be part of the home inspection. Even an average home inspector can recognise knob and tube wiring. You should live in the house for at least 6 months before deciding on what needs remodeling.

Good luck.

kissmybASS01 · #8 12-20-2009, 08:19 PM

Wow! Thanks for the loads of great info. When my agent and I went through the house, he looked at the wiring and didn't believe it to be knob and tube wiring. However, I do agree that before I put pen to any paper to seal a deal, it will be on the condition of a close inspection.

Here in "Winterpeg," our temperatures can fluctuate from a dry -40 C (not including wind chills) in the winter to a very moist +36C (not including the humidex). So.....heating and cooling is pretty important up here. Great advice regarding windows first, then A/C

As for my current living arrangements, I'm paying into a non-equity building apartment with a heating problem. My mortgage payments will be less than my rent.

MJ5150 · #9 12-20-2009, 08:27 PM

You could always pick up one of those rolling butcher block type thing-a-ma-jiggers to add counter space. Those can be had for about $200 at Ikea.

How many other houses have you looked at? How convenient is this one to your job, grocery store, favorite shopping areas, friends house, etc?

While all that storage under the house sounds great, are you going to use it?

-Mike

tplyons · #10 12-20-2009, 08:27 PM

Quote:

Originally Posted by kissmybASS01

My mortgage payments will be less than my rent.

Then it's nearly a no-brainer right there!

Have an electrician take a look at your wiring, get an engineer to look at everything else. If the house isn't going to fall down and you legitimately like the house, go for it.

Pilgrim · #11 12-20-2009, 08:57 PM

The electrical service concerns me. If the house still has original wiring or only two-conductor wiring (pull an outlet and see if there are ground wires) then you really need to re-wire the whole house...not just replace the electrical panel.

You can handle the AC situation with a window unit for a while, and the REAL key is to install ceiling fans. I lived in Texas and I know I can deal with 10 degrees (F) more heat if there's a ceiling fan moving air. Consider an attic fan to pull air through the house and out through the attic, too.

If the windows are in good shape, consider some of the new energy-saving films which can be installed on them, or adding storm windows (a second pane on the exterior side). You might not need to replace the windows, especially if you don't plan to live there for more than a few years.

You need a REAL house inspection - including checking wiring, pulling an outlet or two to see what the realities of the wiring are, and checking plumbing, foundation and roof - from both the inside and outside. Most house inspectors just stroll through and turn a faucet on and off.

Headless Llama · #12 12-20-2009, 09:29 PM

All good advice here. Just remember that this will most likely not be the last house you buy. Meaning that you do not have to go overboard on improvements. You do not need the top of the line windows and so on.

kissmybASS01 · #13 12-20-2009, 09:56 PM

Quote:

Originally Posted by Headless Llama

All good advice here. Just remember that this will most likely not be the last house you buy. Meaning that you do not have to go overboard on improvements. You do not need the top of the line windows and so on.

Agreed! This is my first (of several???) homes. I was actually thinking of just stapling some Saran Wrap onto the existing windows - instant 3rd pane.

Seriously though, the wiring seems to be the common flag you all have suggested as maybe the "deal-breaker." The house is currently wired up with an alarm system, as well having a computer in the house. I can assume then that some attention to the home wiring has been done. One thing I was thinking is that since I have some extra room, I might be able to hold some rehearsals there. How does THAT fit into the wiring situation? I would hate to kill my tube amp or our practice PA, or worst yet frying the house wiring from overload

Pilgrim · #14 12-20-2009, 10:16 PM

Quote:

Originally Posted by kissmybASS01

The house is currently wired up with an alarm system, as well having a computer in the house. I can assume then that some attention to the home wiring has been done. (

Unfortunately this is not the case. I have seen some godawful mickey-mousing done to electrical systems, especially by owners. It's entirely possible that the alarm system might have been a butcher job and worst case, would have to be removed, repairs done and start over. Hopefully that's not the case and your expectation will win out.

Get a professional to check it.

Computers? Most of the people out there will put a 3>2 prong adapter on an AC cord to connect with an outlet that has no ground connection, and use it for years. Just because someone plugged in a computer you can't assume anything.

Did you happen to notice whether the house has grounded outlets? Take a plug-in circuit tester with you and check the outlets. They're less than $10 at Home Depot.

Rehearsing depends on the amp load you can put on each circuit. Plug in and try it - just make sure you have spare fuses. You can learn to read a breaker panel, too.

playinpearls · #15 12-21-2009, 05:28 AM

a house that old would scare me unless i had loads of money lying around. I head this lady on the dave ramsey show the other day that bought an old house like that and has since had to put 60 grand into it just to get it up to code, not including what she actually was going to upgrade.

Your windows will probably have to be special ordered for the size...just a possibility.
Wiring that old is more than likely gonna have to be replaced, which i though would be a drywall ripping job. who knows what else you'll find behind there...

If its your first house i would certainly pass and get something a little more modern. There is too much a chance that this will sink you...

(some of this may have been talked about, i just skimmed through the posts...)

Headless Llama · #16 12-21-2009, 06:33 AM

NEVER NEVER NEVER assume that previous work on the house is correct or up to code. This is a big no no!