Wonderful picturesl, Sara! And it sounds like it's all fixable stuff. And oh, the inlaid floor is to die for.

Can you adjust your price downward for all the problems the inspector found?

That's the hope. Ask for it either to be repaired, or credit given towards me doing it. But we'll have to run the numbers on that, and so that means getting estimates. Some things, like the stove and replacing an ungrounded outlet with a GFI one, they should be easy to do and have the seller do because they are generic fixes. Things like the roof and bathroom and deck, I think you'd lean more towards credit so you can have it done your way and to your satisfactions.

But we'll see.

roofs can run $1.2 K to 5K depending.

Or more. Something to remember. With the credit crunch, you may not be able to get the cost of renovations added to the loan, the way you could have a few years ago. So if you get a "credit", you may want to work out a closing scheme where you pay your offer, and they give a refund, so at closing you give them a big check, and they give you a small one. Maybe not that exactly, but have your agent work out a way that any lowering of price for repairs is actually available to you to make the repairs.

I'm going by google + the next door neighbor just replaced his same kind for $3K. Anyway, we'll get estimates and all that sort of thing. I wouldn't be adding renovation costs to the loan. Basically, I will not be increasing the amount I'm borrowing. It's such a shell game.

So you are going to pay for rennovations with cash? Adding cost of rennovations to a loan is not a shell game if the money really goes into the rennovations. Legit reason for borrowing. You get the benefit over however long the renovations last, so no reason it should be paid for out of savings or current expenses. It is a capital expense.

I know what I am comfortable with in terms of monthly outlay versus dipping out of savings in hand (while still able to keep saving) for the short term. It may not be the most money saving in the long term, but in the short term, I'm my only backup and wage-earner, so I kinda need me to keep my sanity.

And now I have the inspection report and am daunted all over again. Laying it all out to the parents made it feel doable and then seeing three hours ( and 43 pages) of ALL WRONG DEFECTIVE is overwhelming. Fun.

*lives vicariously through people who actually have a savings account*

I'm feeling all kinds of virtuous for having $250 in my savings account.

Hey, you can help me spend my money, vicariously!

It's just what I deserve for liking a 78 year old house in an old city.