1st property duplex purchase

[Jimmy Kiefer]

I am on the verge of purchasing my 1st property and plan to buy and hold the property. A property I have my eye on right now is in good condition as valued by the county accessors site, however it has a stone wall foundation and was built in 1881. If I am going to hold this property for 30 years, wouldn't it be a very relevant possibility that the stone wall foundation could give out? Then I would have to demo the property and most likely be out several thousand dollars. Should I ignore all properties with stone wall foundations? Let me know what you think, thanks!!

[Charles Kamen]

Depends on the condition.  It's held up for over 100 years, what makes you think it won't last another 30?  Is it bulging, deteriorating, separating?  If it's in good shape it'll last another 100 years.  When in doubt, bring in an inspector - you should do a full inspection of the property before closing anyway.