Received Home Inspection report, unsure if we’re getting in over our heads here

My wife and I are first time home buyers, and we found a place for $320k (after a long search and making compromises on the type of home we want). It’s still near the top of our comfortable budget and we initially had in mind several “nice to have” projects upon moving in. The house was built in the 1950s.

However, we just got our inspection report back, and there’s a bit more than we were expecting. Top item is mold in the attic, which they couldn’t determine the full extent of due to “inaccessible areas of the attic”. Our air quality test results were mostly ok, however did show elevated levels of mold in the air in general. The seller is willing to give a $3200 credit to cover repairs, on top of a potential $7500 decrease in price (not sure on this yet).

Besides the mold, there were some signs of wood insect damage, bad gutters, negative slope towards house in several parts, some slight bellying in the sewer line, and various electrical and wall repairs needed in the garage and attic.

Here is our report https://imgur.com/a/csOCWg6

Are these items things that we should likely expect for most homes? We are torn on whether we should continue or back out. If we continue, we still could back out depending on the results of a deeper mold inspection before we close. We don’t mind having a few things that need done, and have the budget to address some things post-closing, but the mold and the number of items have us hesitant at this point if this is the house for us.

submitted by /u/steelflexmcfly
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My wife and I are first time home buyers, and we found a place for $320k (after a long search and making compromises on the type of home we want). It’s still near the top of our comfortable budget and we initially had in mind several “nice to have” projects upon moving in. The house was built in the 1950s. However, we just got our inspection report back, and there’s a bit more than we were expecting. Top item is mold in the attic, which they couldn’t determine the full extent of due to “inaccessible areas of the attic”. Our air quality test results were mostly ok, however did show elevated levels of mold in the air in general. The seller is willing to give a $3200 credit to cover repairs, on top of a potential $7500 decrease in price (not sure on this yet). Besides the mold, there were some signs of wood insect damage, bad gutters, negative slope towards house in several parts, some slight bellying in the sewer line, and various electrical and wall repairs needed in the garage and attic. Here is our report https://imgur.com/a/csOCWg6 Are these items things that we should likely expect for most homes? We are torn on whether we should continue or back out. If we continue, we still could back out depending on the results of a deeper mold inspection before we close. We don’t mind having a few things that need done, and have the budget to address some things post-closing, but the mold and the number of items have us hesitant at this point if this is the house for us. submitted by /u/steelflexmcfly [link] [comments]

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