I've been reading r/realestate for a while now. You're gotten me this far, can you guys help answer a few more questions? Here is a little background: we are buying one side of a twin home, approx 25 years old. There is an HOA that covers the basics: water, sewer, garbage, exterior insurance, lawn care, and snow removal.
1.) Our offer has an allowance to replace the carpet in the upstairs, which is 667 square feet. How far will $2000 get us?
2.) The sellers have owned the home since 2009, and in that time, have not replaced any of the major appliances: furnace, water heater, A/C unit, refrigerator, stove, dishwasher, and microwave. What should I look for before closing? We have home inspection coming up too. Will he/she be able to give me the possible life span remaining on the units, or should I call in more specialized experts?
3.) Anything I should be asking the HOA past reading their bylaws?
4.) What are some hidden costs that new homeowners don't typically think about?
5.) The home is close to a university, so if we keep this as a possible investment property, should our decisions now be based with the possibility of having tenants in the future?
I'm sure there are questions that I'm not asking, so if you provide any other tips or tricks that would be greatly appreciated. I'll answer any questions you have if you need more details.
Edit: Spelling and grammatical corrections.
Submitted April 13, 2015 at 04:39AM by RealSaltLakeRioT http://www.reddit.com/r/RealEstate/comments/32dqfb/offer_accepted_were_going_to_be_home_owners_but_i/ RealEstate
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