How about Home Renovation?
March 13, 2018
"So he's a bit of a fixer upper
So he's got a few flaws...”
Sounds familiar, right? The award winning Disney movie "Frozen" trolls has something to say when it comes to house purchasing.
"So he's a bit of a fixer upper
But this we're certain of
You can fix this fixer upper up
With a little bit of love!"
Whenever we see a real estate advertisement with TLC, which stands for "Tender Loving Care", it gives us a hint of what kind of house it would be. It gives us a snap that the home is a fixer-upper and it needs repairs.
By the way, Fixer - upper is a house or a property wherein the conditions require repairs, either through reconstruction or redesigning. Your creativity is required in this style of property purchasing.
Some buyers are purchasing fixer-upper properties for business purposes, or flipping houses. Some use this as a starter home for those who wants to use their budget wisely. One good thing about buying a fixer, is that you can buy it anytime available.
Buying a Fixer-Upper offers many advantages:
- Obviously, it has a lower sales price, you can save thousands of dollar on the purchase price of the properties
- It has potential for a resale profit once you are into flipping houses
- You can use FHA "fixer upper" loan to purchase houses
- You are free to use your creativity in renovating or redesigning a property
- You can gain an experience or knowledge in maintaining a home
In order for you to make the most out of availing fixer upper properties, be sure to find a good home inspector who can be a best partner in achieving your renovation plus an experienced realtor to help you through the buying process.
If you are interested in buying a house, we are glad to assist you. Simply contact us here at (252) 321-9784 or send an email to hudhelp@selectivehomesinc.com.