First fungus and now the pipes. No one can give you a price without seeing the place and how it is all configured. I'd guess at least $2000 but don't know if you've a 500 or 5000 sq ft house. Call three plumbers and get estimates would be my approach. Are these water supply lines or waste lines?
And the inspector knows there is no rust inside the pipes because? He looked inside the pipes? He has X-ray vision? And the relevance of the rust outside the pipes is exactly what? Why does the inspector believe you need to change pipes because there is rust outside? Very curious case, little information offered, hard to figure what you are thinking.
It is ok that they are easy to get to but do you want to cut them off somewhere (where ever the water enters your property; is that galvanized also? You might be looking at paying for new water service if that is galvanized and starting to clog/leak. This can be expensive depending on who pays for it: you or the water company. You better find out about this). You'll have to run new water piping (plastic or copper) to all your plumbing fixtures and you may not be allowed to run them on the outside (new codes? weather conditions since water can freeze and break the pipe open). So you'll have to punch holes in your walls etc to get the new water supply piping to your fixtures; this may be a bit messy and expensive.
White powder, rusted pipes that don't go through the walls, and a hole in the basement; and this is based on what the inspector told your wife to tell you? 3 things that are so vague its difficult to give you any direction, let alone advice, I'm sorry. Typing in CAPS LOCK just comes across like you're yelling at the people you're asking for help. Where you need to start is with an expert who can go through the house with you..... ie an inspector you paid to do just that. I know I'm not the first person to say that in response to your questions so instead of waiting for the board to tell you "don't worry about it" get on the phone with the inspector and go see what the problems are. If you have no idea about the problems you're getting into then you probably shouldn't get into them. I don't think anybody expects you to have prior knowledge in this forum but if you don't know what a drain trap is I have a hard time believing we can teach you to replace an entire house of galvanized pipes.
Thanks im sorry i keep pressing caps....i just got off phone with inspector...said house is a great starter home..solid house...went over all with me, just said i live in a salty air enviroment,things rust lil quicker...also said only concern is what hole is in ground, said doesnt not look like oil
You can't buy this house until your questions are answered fully. Not knowing if the liquid in the hole in floor is water (where is it coming from and/or going?) or oil (why is there oil in the basement?) would be a show-stopper for me until I found out what is there and what it means. Keep asking questions from the person there (the inspector) or get another one as previously suggested who might be more informative.
I'm an NC real estate broker and a long-time DIYer. If you're a first-time home buyer (or haven't owned a home in the past 3 years), you are probably qualified for the economic stimulus tax credit of up to 10% of a first home purchase up to $8,000 if closed by Nov. 30, '09. For instance, you close on a home at $80,000 or above by then, and say you owe $3,000 in federal taxes this year...you will pay them nothing and they will send you a check for the $5,000 difference!
That should more than take care of replumbing the average house. I would go with PEX to replace the obsolete galvanized. Get 3 pro quotes in writing as already recommended, and also know the cost of all other repairs needed to bring your home up to speed.
A tax credit is not a deduction. It is a full $ CREDIT toward taxes owed. For instance, if you're a qualified first-time homebuyer who closes on a home for $80,000 or more by Nov. 30, and you owe $3,000 federal income taxes in 2009, then you get "credit" for that $3,000 you owe (you don't pay a cent) AND they send you a check for the $5,000 difference.
Check with your tax people or a tax attorney or the IRS for details in your particular instance.
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