More and more recently people are eager to see the flipped or fixer upper properties. These homes have been glorified by the HGTV channel and articles depicting owners purchasing rundown homes in disrepair and repairing and reconditioning them to sell for thousands more. The hosts make it seem easy, but in actuality it can be a very difficult experience, especially if you have little to no knowledge of the market.
Most owners who purchase a fixer-upper often make the mistake of paying too much for the home without thinking about how much will be needed for the improvements and restoration. This problem comes to light when the owner tries to sell the flipped home and the value of the home is less than what they’ve put into its restoration.
There are homes that can be flipped and sold but you have to be very careful, pay close attention to the market, and be able to assess the costs of your restorations before buying; if you’ve not had a lot experience in this field it might be wise to go out and find someone who does.
If you’d like to buy a home to fix up, contact The Sandi Pressley Team today.
If you’d like to buy a home to fix up, contact The Sandi Pressley Team today.
Have An Awesome Week!
Sandi’s Hot Home Listing
6812 Vista Del Sol Drive, Albuquerque
Price: $350,000 Beds:4 Baths:2 Square Feet: 3,860
Exquisitely Appointed Home in desired Montecito Estates!With over 3700SF, this open floorplan shows like a model-featuring cozy living area w/fireplace, 4 BDRMS (see loso)/3BA+loft & computer area! Gourmet kitchen offers upgraded cabinetry, corian countertops, upgraded appl, cooktop, double ovens(gas connection avl), pantry,breakfast bar&pantry.Addtnl amenities:upgraded thermostat system, Refrig Air, traditional tiered water fountain,oversized 2 car tandem garage(fits 3 cars).
AND HERE’S YOUR MONDAY MORNING COFFEE!!