Although the majority of homes sold have been repaired and/or upgraded to improve their appearance and/or availability/sale potential, a significant number are being sold as is, at a lower relative price. price! These types of properties are often referred to as starter homes and/or homes to repair – superior! For some, buying this type of home offers significant advantages, including a lower price and, if the property is located, in an attractive and coveted area and, on a good size lot, and the so-called , bones, they are good, they may 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 attempt to briefly consider, examine, review, and discuss, 5 questions, one, must be asked, before proceeding, in this type of business/purchase, etc.

1. Are you mentally/emotionally ready to own a home?: When we consider something, such as a starter home, it generally indicates that it is a first-time purchase, by a particular owner. As such, that individual must consider whether he is mentally and emotionally prepared for the responsibilities and challenges of homeownership. 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 the responsibilities?: What are the strengths and weaknesses of that particular house, and how will you address areas of weakness in an effective, efficient, and cost-conscious manner? When you rent, your landlord has to handle those responsibilities, but when you buy, it’s up to you! Do you have certain skills etc that could be useful and/or do you have a list of trusted craftsmen (plumbers, carpenters, electricians etc) to take care of these needs without a problem?

3. How much will it cost to repair/upgrade etc.: Ask your home inspector/engineer, or other expert, what various things might cost to repair/upgrade? How are you going to pay for these? After adding these costs to your original purchase price, does it make sense?

Four. Are you a handyman?: Do you have the necessary skills and abilities to perform a significant percentage of these alternations, etc.? In other words, are you useful? Obviously, the more you can and feel comfortable doing it yourself, safely and properly, the less it will cost and the more appropriate this type of acquisition might be.

5. Do you like the area in particular?: Consider, at the outset, whether you plan to stay in this holder – home, for a significant period of time or, if you wait, 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 top repairer, will that decision be the right one for you and your personal circumstances? Are you prepared to proceed wisely and intelligently?