Curtis- Unless I absolutely could not afford anything more expensive, I would never buy a house with one bath. I would suggest at least 1 1/2 baths, preferably 2.
I appreciate the suggestion, but we lived for three years in a 30-foot travel trailer. Since it was mostly open space, it was technically a no-bedroom, 1 bath. Then we lived in a loft which was also a no-bedroom, 1-bath. Plus, the sewer lines in this house are in the basement so I can add a powder room pretty easily.
81K sounds too cheap to be true. My questions are when was it built and whats wrong it?
1928 and there is nothing wrong with it. Housing prices in Pittsburgh are just really that low. My wife's best friend just purchased a 1960s duplex for $91k and its in Avalon which is an old-money part of town. This one has poured concrete/Ibeam reinforced foundation, new roof, new furnace, new triple pane windows, new stucco, oak flooring, new carpet upstairs, new fridge, dishwasher, and gas stove that goes with it, plus a bedroom set thrown in for free. I used to work for a contractor doing new construction, so although I'm not well-versed on older construction designs I can spot a weak house. This one doesn't have a single crack in the foundation, and even the original plaster on the walls is 100% crack free. I couldn't find a single patch in the plaster.
Put it this way... the seller bought it to fix and flip, and he paid $27k for it in 2004.
Now the question is... what about these current events. Crappy market, no loans, crazy ARMs... should I wait?