Buying a fixer-upper can be a fantastic investment. Fixer-uppers tend to be much more affordable than houses that aren’t in need of many renovations or repairs. The money you save should cover whatever repairs and renovations are needed — not to mention that you’ll be able to have more say in the look and design of the home since you’ll most likely be remodeling extensively. Many buyers will purchase fixer-uppers with the intention of flipping them for a profit. However, not every fixer-upper is a great deal. If you’re not careful, you could end up with a money pit. You may end up pouring more money into a fixer-upper than you thought you might without the value of the house increasing accordingly, resulting in a loss. Fortunately, there are ways to avoid purchasing what ends up being a money pit. The following are four things that you should look for when hunting for a fixer-upper to invest in.
RELATED: THE FOLLOWING ARE FOUR THINGS THAT YOU SHOULD LOOK FOR WHEN HUNTING FOR A FIXER-UPPER TO INVEST IN.
If you are going to invest in a fixer-upper, whether it’s to flip the house for a profit, rent the house out or live in it yourself, make sure that you keep these four things in mind before you decide to buy. Call us at 901-730-6314 to begin your home buying adventure! |
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