Looking for a bargain?
Why not buy a disgusting heap of a house that no one else wants and turn it into your dream home?
The Financial Post has an article about the pros and cons of buying a fixer-upper.
It’s a first-time homebuyer’s dream: Snag a rundown house in a terrific neighborhood, and then revamp it to your heart’s content.
But fair warning, that fixer-upper could become your worst nightmare.
“You have to really know what you’re getting into,” says Zillow.com real estate expert Brendon DeSimone. “It could be the case where it seems like a good price and then you dig deeper and find that the windows are off, the electrical foundation is messy, and so on.”
Translation: You could wind up spending more than you bargained for.
Read the full article here.