Also don't forget that if you have discovered major problems... you are going to have to disclose them when you sell. Or not and risk a lawsuit you will most likely lose.
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19 years ago
how to know when to repair or move?
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19 years ago
Hello, is there a fairly logical way to determine if the place you own is worth repairing or time to get out(with your sanity)? the ads for 'we buy ugly houses' are beginning to appeal to me. hubby has proven he's not the handyman I hoped for. (BUT he doesn't believe that....) Any advice is appreciated. tia, D
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19 years ago
if you like the house and want to live there, fix it. if you don't, dont.
ill let the usual suspects endlessly explain the simple math to you...
randy
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19 years ago
You are going to loose money if you move. First if you don't like you home, no one else is going to like it so they will pay very little for it. Second you will find that your next home is just like yours, but you did not notice it until you moved in. Third hubby will still not be a handyman. Most important is the fact that when you sell it is a lot of bother, cost of moving and paying a percentage to the realtor, and that is no small amount.
The time to move is when the location is wrong. Would you move if the house was fixed up? If not, then figure out what it needs and fix it up. It will be cheaper than moving. Much cheaper.
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19 years ago
Many factors involved. Old, small house in a very expensive neighborhood? tear it down and rebuild right where you are. This is becoming very popular in some areas where real estate is becoming scarce.
Lots of land? Start building the new house, tear this down when the new one is done.
Check the prices of homes in the area. I woke up one morning and looked at ads in the paper. I realized I have $50k more in equity that I thought. If that is the case, consider a home equity loan and have the repairs and/or remodelling done by a pro. You say you have an ugly home, but if it is sound, it may be worth repairing. You need a good evaluation by people that really know.