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thinking about putting an offer on a 1950s home

Hey guys! I’ve been looking at houses and condos in the DFW area. I was close to putting an offer on a condo, but the HOA scared me off ($600 a month—utilities included but still). I’ve now found a house I really like and toured it yesterday. It doesn’t seem to be in terrible shape but there are quite a few red flags that I’m trying to assess the seriousness of.

There are a few cracks in the walls and ceilings around lights and in the corners of windows. There is one spot on the wooden floor that could potentially be water damage. I’m not sure about the electric and plumbing yet (water ran fine and toilet flushed okay, and a new electrical panel was installed outside). Nothing is updated cosmetically, which doesn’t bother me.

Realtor is suggesting we go in slightly below listing price (230k, listed at 233k) and then see how the inspection comes back. I don’t mind paying for the inspection, but the only comp in the area is the same size house (on a slightly smaller lot), completely renovated on the inside and looks to be in much better shape. It sold for 225k so I’m hesitant to put a 230k offer and get stuck in that range for a house that needs lots of cosmetic updates at the very least.

let me know what you guys think!

submitted by /u/Itchy_Werewolf_1597
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source https://www.reddit.com/r/RealEstate/comments/r50jj2/thinking_about_putting_an_offer_on_a_1950s_home/
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