I own a house that I'm sure would be worth at least 100k if not more if it is fixed up, would it be worth it to take the time off to renovate the home over the winter? But is it worth it the way the real estate market is currently seeming to go?If there are any realtors that could offer some insight, I can supply pictures and more detailed information.
enable's see. . .the cost of each and every thing is going up yet salaries are actually not. So all those people who could make their domicile money, now can't have the money for gasoline. they are going to purchase the gasoline and lose their domicile. Why do human beings purchase residences they'd fairly have the money for or with outrageous loan money.? issues happen. So there'll be residences on the marketplace that folk can't have the money for to maintain or purchase. too plenty grant, and little call for = expenses bypass down. in case you have funds that's a solid time to go searching for deals.
I know these are very important questions for you. So we have some equally important questions to ask: It sounds like this is not your primary residence, is that true? How old is the house? Where, geographically (what city/state) is it located in/near? What is the rental vacancy rate? (In case you have to rent it out while you wait for the market to improve.) Find a local Realtor or web site and ask what they think the local market will be like in 6-8 months. Go on line and read up on what to do and what not to do when fixing up a house to sell. Go to IKEA for your re-model kitchen/ bath/ bedroom needs as well as Home Depot and Lowe's to get costs of what it will take to fix it up. DONT SPEND too much. Don't loose sleep over it!
It is a SWAG to predict where the market will be in May? You can read opinions and find statistics to support either argument of whether the market will be better or worse. There are plenty of buyers willing to purchase fixers if the price is right. You need to evaluate what you could sell the house for now, or how much you will put into it and that sales price. Which is more profitable? And only you know if you have the stuff to complete the projects or be willing to hire the work done. P.S. Don'tbuy2007 is an idiot.
My crystal ball says, next May homes will be selling and buyers will be buying. What it doesn't say is how much the homes will go up or down by then and how fast the will sell. There is always a market, no one knows exactly what it will be like.
