re you thinking of buying that needs some work for a lot
a home that needs a little less money!
work?
But what are the issues to
For many people, this is a good consider before buying a
way to get a bigger house, get a "handyman (or woman) special"?
cheaper house, or make money by
fixing up the house and First, is the house up to code?
re-selling it.
While owning a home that is not
If you've never owned a house up to current construction
that needed lots of work, then standards is not a problem in
you owe it to yourself to think itself (most towns recognize the
about this decision carefully codes used at the time the work
before signing any paperwork! was actually done), if you do any
renovations or remodeling and
What are the benefits of owning a need a permit, you may run into
home that needs a little TLC? trouble - and have to do extra
work to get the house up to the
There are many benefits to buying standards of the current codes.
a home that needs some work.
And this work can sometimes be
If it's an older home, then many costly. So before you buy any
older homes often have a lot of house - especially one needing
"charm". Materials and some work to get it into shape -
workmanship are often very good have the house inspected. This is
in an older home. Floor plans are a small investment that could
often "creative". save you many times to price of
the inspection!
And you can certainly get a home
Finding problems is not a bad
thing, it just helps you avoid Not that you shouldn't even
unpleasant surprises and gives consider fixing up a house on
you more information to help you your own. Just be prepared for
make the right buying decision the reality that if the section
for your situation. of the house you can see has not
been well maintained, that the
Second, do you have the time to structure underneath may not be
do the work? in great shape either!
If you have enough money to hire Third, do you have the money to
someone else to do the work, do all the work?
congratulations! If not, take
some time to think this one And if you don't, can you live in
through very carefully. the house while you wait?
If you've never done the type of As mentioned above, sometimes a
work needed, expect that you will project involves much more than
make some mistakes while learning meets the eye. And construction
- and that these mistakes will costs can easily go up...and
cost you both time and money! up...and up!
And if you have fixed up a house If you have enough cash saved up,
before, you already know that good for you. But do you have
what you see on the surface does more than enough saved up, in
not always tell the whole story. case there are surprises?
Once you remove a wall, a floor,
an appliance, etc, you may find a Tough question, but one to
whole new set of problems you consider carefully!
never considered.
Should you avoid buying a "fixer if you like doing your own work,
upper" unless you are a handyman buying a house that needs work
(or woman)? can be a tremendous experience.
Trust me, there is no greater But getting to the end of a
feeling than finishing a project project can be challenging.
that makes your home look better
(and more valuable). And it's a challenge you
definitely need to be ready to
So if you like getting dirty, if take on!
you like learning new skills, and
About the Author:
Kris Bickell is the owner of HouseBuying-Tips.com. For more tips on buying a home, getting a mortgage, & finding a realtor, sign up for the free email course "How To Avoid These 10 Costly Mistakes When Buying Your First Home" at www.HouseBuying-Tips.com
Source: www.isnare.com
