please forgive if this question has been asked before - I've done some searches, but couldn't find the answer. My husband and I are in the process of purchasing our first home in Melton Vic. It will be our PPOR and it is a 3 bedroom, brick veneer with lock up garage, floorboards and new kitchen and is approx 30 yrs old. Purchase price is $186K.
We got a building inspection report done by Archicentre on the property and it's come back saying that the bathroom and garage need repairs, etimated to be worth about $10K in total.
We're tried to re-negotiate the purchase price with the seller's but they've taken offence at the report stating that they don't believe it and won't negotiate.
I still think that it's worth pursuing the property because the repairs (especially in the bathroom) will bring it up to date and therefore, I believe, add value. It is also walking distance to the train, bus, schools, shopping centre and university. As we intend to rent it our in about 5 years time, I think the location is a valuable asset...
Just wondering if anyone had any thoughts or experience on situations like this that they could share as we are still very new to this business...