When looking for the perfect home many people wonder if they would be better off buying a fixer upper home, This could be a great savings of money and a great way to build equity. There are several questions that one person should ask themselves before they make this leap. Here are just a few of these questions to ask…..
1. Count the costs– Have contractors go through the home with you and help you determine the cost of the repairs that are needed on the house that you are wanting to purchase. Make sure that you are really getting a good deal on the property when you include the cost of the repairs. Also make sure there is a little money set aside for the unexpected.
2. Do you have the time?- It takes a lot more time then most people imagine in order to do the necessary repairs. Are you having to take time off of work to do the repairs? Are you willing to live in a little bit of mess while the project is going on?