💰 Should you walk away from a home with major repairs?
🏠 Home Details
You're under contract on a 100-year-old home for $220,000, but the inspection revealed hidden structural problems. The seller is offering a $6,000 discount, but contractors quote $16,000 just for foundation strapping, plus more for drainage. This calculator helps you determine if this charming fixer is becoming a money pit you should walk away from.
🏚️ Repair Estimates
The inspection uncovered significant issues that the seller previously ignored or patched. A foundation company quoted $16,000 for carbon strapping, or $25,000 if essential drainage work is included. Add in a clay sewer line with root intrusion and peeling wood siding, and these "preventative" repairs quickly become active, expensive liabilities.
🤝 Seller Negotiations
The sellers bought this house two years ago for at least $50,000 less. They are offering a total of $6,000 off the price, claiming any additional work is preventative and refusing to clear or rescope the sewer line. See if their meager discount leaves you with enough money to close and fix the house.
🔗 See Also
For further related reading, check out:
📊 Results
Cash to close
Total repair costs
Net repair burden
Total cash required
Post-repair reserves
The Verdict
Walk Away 🏃
Calculator updated by heyfinfam (v26.7.0) · View history
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