Always dreamed of renovating a home exactly to your specifications, or have you found an older house that is structurally sound but needs a lot of work inside?  Perhaps the price is right and you can’t resist all that house you can get for your money.  Whatever the reason, buying a fixer-upper can be both an exciting and rewarding purchase or a financial and time consuming disaster, depending on whether you are prepared for what you have gotten yourself into.  So what should you know before buying a home that requires a little or a lot of tender loving care? The Benefits The benefits of purchasing a fixer-upper are obvious.  The price is usually right, and if the seller wants a quick sale because of decreased interest in the home, you may be able to negotiate a really great price.  Also, if you intend to flip the home after the renovations, the profit for the money and time you have invested can be quite considerable.  The trick to getting these benefits, however, is knowing what type of property to look for, as well as having an accurate idea of the associated costs, and realistic expectations of the time and labor […]
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