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Buy New Homes

August 22, 2010 by  
Filed under Property Tips & Advice

Should I buy a new house or old house to a slightly lower price, but in need of work?

I have one some money from this investment, but the market is not good for sellers in this market. I can get one for less than it was worth a year ago. If I buy an old house for about 130k, I needed to put about 15-20K to put in good shape, but the maximum it could sell would be around 155-160K, so not much $ to do. On the other hand I could build all new to about 150-170K and when this new Devolpment is completed, the district will be very pleasant and could possibley (key word here because there is no way of knowing exactly what a model would for the moment) is 200k. I’m looking to buy now and sell in 2-5 years. If anyone has any sort of first hand info or expirience with turnaround an old house, buying and selling a new home, or losing money on real estate, it would be good to hear. Thank you.

Why Look for old houses that need work or speculate on whether the new houses will rise faster. I always found that tenders special in all kinds of markets by finding an unknown factor which is often a gold mine. Look for homes that do not need to work looking for home for those who need an agent who does not work. I can find desperate sellers in the market every day and this is that are often the best deals. Not desperate sellers because of being in pre-foreclosure, not sellers desperate because a junk yard, and not because of sellers desperate need of repair is. There are a lot of the previous type in each city, I mean desperate sellers because their agents are completely useless and these people are hungry for an agreement, almost all deal. In over 20 years experience I have never found a market throughout the country where over 40% of agents prospectus has been, in my opinion is competent. Look for sellers who have reduced their prices several times and still have more time than the average market. An agent can do for you, they can also search Data on sales for the offices of the competition and make announcements poor agents of the scene. It is often because of this, and not the need of repairs, I made the most margin.

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