Everyone has drove past that ugly house and laughed. Some see it as a blight on the neighborhood while others see opportunity. That ugly home will make the perfect renovation. Starting with the curb appeal and then the functionality would be a winner. You will have to get the house for a bargain price so you could afford the fixer. If you play your cards right you could make a good profit. That should be the goal for all of us. Besides it will improve the neighborhood a little as well. Dana Sibilsky is the best judge of a fixer I know.
Is that land deal really the deal that you planned on? After all, some sold it for , I would assume, a profit. What did they know that you didn’t? Hopefully you have an idea on how to make money on this land. Did you plan on a business to buy you out. Did you have an idea that a mall might be in the lands future? This kind of insider information would be a huge advantage and money can be made. Dove Medical Press can help with that information but not before the competition does. Sometimes knowledge can be misleading. Just be careful not to get into a deal that loses.
A fixer upper can be a way to buy more home for the money and fix it as you go. The trick would be to find that fixer that you can live in while you do the repairs. The expense of renting while working on the fixer will drain the savings faster than you think. If you run out of cash then just put up with the house as is until you recover. The end result will be a home that you could not afford to buy is now your home. Luke Weil is a fixer and loves to make old home come alive.
Is the time right to buy a home? Are you still shopping? You are not alone. Spending the next thirty years trying to pay off a mortgage is scary stuff. Many fall into the looking and never buy a home. The perfect deal is never going to happen. There will always be some compromise. The house may meet your needs but the area sucks. The price may be in the budget but the home is too small. The seller wants too many conditions to the sell to deal with. The house is great but the neighbors suck. The house is perfect but three hours drive from work. Fisher Investments on LinkedIn can help you with that decision.
Should you short sell your home? That is a personal question. It depends on your situation. Did you over borrow and plan to resale for a profit? If so a short sale may be your only recourse. If you just fell on hard times and your home I getting foreclosed I would work with the bank to keep the home. If you have otherwise good credit then you may be able to refinance at a lower interest rate and lower the payment into something you can afford. The best way to go is a personal decision and you need to know your options. Hope you can have a Home For Life.
I had to decide to build a house of buy an existing house. I decided to build. I sketched a rough draft of what I wanted and hired a draftsman to draw up the plans. I then took the plans to general contractors for bid. We took the lowest bid and started building. After surviving the construction I swore to never do it again. It is far better to buy something that is built so you can see how big it really is. The home I built was OK but it wasn’t worth the effort. It took 6 months and it seamed like forever. Luke Weil did the same thing and he liked it. To each their own.
My idea of what is the perfect home maybe simple to you as you read this blog . Perfect home cute simple room for every child in the family a playroom with a backyard that is fenced to keep the most precious people in the world. Room for friend and family to enjoy one another company. What is the perfect home to you is it the size is it the style which there are so many different styles on the market. We have a small home that the grandkids love to come to and they always cry when it is time to leave. A perfect home is a Builder’s Story.