Newsflash: We just backed out after inspection and I’m heartbroken

I’ve posted here several times about a duplex my spouse and I are renting and ended up putting an offer on when the owners unexpectedly put it on the market. It’s an older house priced at the tippy-top of our budget, and we worked our asses off getting inspections and second and third opinions and estimates to try to figure out if it could possibly make financial sense for us. Ultimately we decided that as much as we love the house, there are just too many big expenses around the corner for us to be able to safely assume we can handle what we’d consider the necessary maintenance, let alone the updates we would probably want to make if we ever decided to sell it. So we canceled the sale, and I feel completely miserable about it. This was our very first time doing this, and we only did it because we had already decided we would want to own the house if we could (that was before the inspection revealed that the current and previous owners were lax about maintenance and that the house will be due for upgrades or repairs to almost every major system in the next 5-10 years). Tell me your stories: times you should have bought but didn’t, times you dodged a bullet, times you bought and wished you hadn’t, times you were terrified that buying was the wrong choice but bought anyway…

Read more at https://www.reddit.com/r/RealEstate/comments/6cbskd/we_just_backed_out_after_inspection_and_im/?utm_source=ifttt

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