Can't you see if you can back out of it?? If not, you should be happy with what you have.

Who knows what hidden costs are waiting at that other house? A few years ago I was house shopping myself and had a look at a GREAT house, wonderful backyard, sweet arches in the doorways, new windows - then I went into the basement. The walls were caving in! No bank would give me a mortgage for that, should the walls give in all the way, the whole house will collapse. You have the first house, stick to it, make it YOUR house, YOUR home.

Why buy a place that needs 5000 dollars worth of repairs anyway? Why not save as much money as possible?

Be happy with what you have. Everything happens for a reason. That house was meant for you. Simple.

If you spend all your life waiting for something better to come along you will never get anywhere. You bought a house and unluckily a better one became available, however that house may never have become available so be happy with what you have.

Murphy's Law.

If a nice house is priced that low, you can guarantee that it is not going to stay that low. Homeowners price their houses like that to generate multiple offers, which typically drives up the price to around where it should be.

We paid 5000$ for the shit-hole we live in, a month later the house next door went up for sale at 1000$ and it is fantastic. I know how you feel OP :P

You are aware that you have 3 days to reconsider a home purchase and legally back out with no penalty, are you not?

After the repairs yours will be better because it's yours