I'll apologize in advance I'm afraid this may get a little lengthy! So, looking for a house in NJ and it seems that the only way to actually buy one right now is to put an offer in as soon as the property goes on the market! My partner and I have looked at a few, bigger than we'd like but also all were under contract when we toured. This brought us to discuss buying my father's house which we currently live in with him and have for almost 7 years since the unexpected passing of my mother. We moved in to take care of my 93 year old grandmother and help my father through this and we're still here!
The house is an ideal size with a smaller yard, its waterfront and my parents did put in new windows, roof, bulkhead. All improvements with the exception of the bulkhead have to be looked at. Currently there is no heat, the 50 year old furnace failed last winter, the newer bathroom has to be replaced, flooring, original kitchen, poorly thought out landscaping that traps water at the foundation.... lots of work! We're thinking much of it can be done for about 60,000 and making it pretty will come and we're capable of that work. I am nervous about this conversation, and afraid to insult my father. He is aware of the work needed but doesn't see it as necessary (kind of what brought the house to this state). He has mentioned a number but its abstract because he never wanted to be bothered selling and he may feel differently when this is proposed. I was thinking max going 30,000 over what he has mentioned. I don't know if this is the right place to ask or what I'm asking! I would just like this to be fair and for there to be no hard feelings. We're prepared to continue looking but at the same time this house could be a nice option. Any advice, opinions anything would be greatly appreciated!!