A fixer-upper is a house that needs a lot of repair work. Because they need maintenance, fixer-upper homes usually sell for less than a home that’s in better repair or a new home. People often buy a fixer-upper when they enjoy do it yourself projects and want to buy the home as an investment. Once a fixer-upper has been fixed it can sometimes sell for a higher value than the home buyer bought it for.
Refinancing A Home For Repair And Estate Planning
Refinancing a home for repair and estate planning purposes can be a challenge for a person who is doing this for an elderly loved one. If the property is in the elderly person it's best to speak with a mortgage lender who specializes in loans to senior citizens, in order to refinance and repair the home. Speaking to an expert in this field can help the person decide whether to refinance and repair the home, or whether selling the home now would be the better option.
Military Family Looking To Buy Property
Military families move frequently, so is it wise to invest in buying a home you won't live in for very long? If you know you'll be relocating often, buying a fixer-upper might be a good solution, and could be a valuable investment.
Renting A Home Better For Short Term
When relocating to a new city, should you buy or rent? It depends on how long you will live in your new city. If you're relocating for only a short time, it's better to rent a home. Buying may make sense if you buy a fixer upper and repair it to increase its value.
How To Purchase Fixer-Uppers For Renovation And Resale
Flipping real estate can be lucrative if you get the right financing and like to make home improvements. How can you finance the purchase of a fixer-upper? Try finding a partner, using a 203(K) rehab loan from FHA or finding a HUD home.