City condemned my house

[Randy Thibodeaux]

My sister and I are inheriting a house my grandmother built in the early 1970s. The previous caretaker abandoned the house for the past 10 years after a large tree fell on the roof. Roof has many leaks, inside is a mess. The property is a brick house in a decent neighborhood. All electrical and plumbing are from the early 70s. House is 4 bedrooms and 2 bath, maybe 3,000 square feet or so. This was my childhood house, so there is intrinsic, sentimental value in keeping it.

I have no idea about how much it would cost to rehab? Should I even be thinking about rehabbing? The city wants to demolish the house. Should I tear it down and rebuild something newer? Your thoughts?