Worth it or call it quits?
We are looking to expand to a bigger home but deciding if we are biting off more than we can chew. At what point is it too much?
Home price is 545k, most in the same district are around 580-600s. 5 bedroom, enclosed patio, over 1 acre of mostly flat land, finished basement making over 3500sq ft house, sits back on a main road.
Sellers offering 30k assist that can cover all closing costs incl buy down. Sellers also pay our agent fee.
However, the house needs a TON of work. Missing windows, missing doors, holes in doors and walls, no handrails on stairs, outlets not working, flickering lights, every room needs lights as they are missing or broken, well pressure tank is bad, HVAC not working correctly, water softener system needs replacement, roof is 18 years old, chimney crown cracked and leaks water which has pooled in basement and causes mold on basement ceiling. Stone outside has many cracks but inspectors don't suspect structure issues. Septic baffles need replacement, considerable sludge in tank, garage doors are dented with hundreds of dents, wood beams outside are rotting, no shed, dead trees need removal, considerable outdoor cleanup needs to happen.
All of this doesn't include flooring, paint, cosmetic issues everywhere.
At what point is it too much and would cause you to walk even on a fixer upper?