Although most of the houses, sold, have been repaired and / or improved, in order to improve their appearance and / or availability / potential to sell, a significant number are sold, as is, at a lower relative price. price! These types of properties are often referred to as beginner and / or repairman homes – up! For some, buying this type of home offers significant advantages, including a lower price and, if the property is located, in an attractive and sought-after area, and on a good-sized lot, and the so-called, bones, they are good, they can be ideal, for certain people to seriously consider. However, for others, doing this may make much less sense. With that in mind, this article will try, briefly, to consider, examine, review and discuss, 5 questions, one, must be asked, before moving forward, in this type of company / purchase, etc.
1. Are you prepared, mentally / emotionally, to be a homeowner ?: When we consider, as a start, a house, it generally indicates that it is a first-time purchase, by a particular owner. As such, that person must consider whether they are mentally and emotionally prepared for the responsibilities and challenges of owning a home. Not everyone is comfortable with this and therefore unless one is, buying this type of property can be too stressful and challenging to be worth the efforts etc.
two. Are you ready for responsibilities ?: What are the strengths and weaknesses of that particular home, and how will you address areas of weakness effectively, efficiently, and cost-consciously? When you rent, your landlord has to take care of those responsibilities, but when you buy, it’s up to you! Do you have certain skills, etc., that could be helpful, and / or do you have a list of reliable craftsmen (plumbers, carpenters, electricians, etc.) to take care of these needs smoothly?
3. How much will it cost to repair / update etc ?: Ask your home inspector / engineer, or other expert, what various things might it cost to repair / upgrade? How will you pay for these? After adding these costs to your original purchase price, does it make sense?
Four. Are you skilled ?: Do you have the skills and abilities necessary to perform a significant percentage of these alternations, etc.? In other words, are you skilled? Obviously, the more one can do on one’s own and feel comfortable doing it, safely and properly, the less it will cost and the more appropriate this type of acquisition will be.
5. Do you like the specific area ?: Consider, in advance, if you plan to stay in this starter house, for a significant period or, if you expect it, to flip it! What makes the specific area attractive to you and why do you think it might be if you decide to sell?
If you decide to buy a repairman – superior, will that decision be the right one – for you and your personal circumstances? Are you prepared to proceed wisely and wisely?