Found 3 blog entries tagged as renovation costs.

Embarking on the journey of buying and renovating a property for resale can be both thrilling and lucrative. However, before you dive headfirst into the world of house flipping, it's crucial to understand the costs involved. In this guide, we'll explore eight essential expenses to consider when turning a fixer-upper into a buyer's dream.

Purchase Price and Acquisition Costs:

The adventure begins with finding the right property. Remember, the purchase price isn't the only financial hurdle. Factor in closing costs, legal fees, and potential property taxes. Tools like home buying calculators can help you estimate these expenses beforehand.

Renovation Budget:

Renovations are where the magic happens, but costs can quickly spiral out of…

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Are you ready to take the plunge into the world of real estate and invest in a property that requires some tender loving care? You're not alone! Many prospective homebuyers find themselves in a similar situation where they're eyeing a fixer-upper, but they're unsure about the best approach to negotiate the price. In this article, we'll explore the art of making a lower offer on a property that needs substantial renovations. From assessing the property's condition to understanding market dynamics and developing a solid negotiation strategy, we've got you covered. So, if you're ready to turn that diamond in the rough into your dream home, let's dive in!

Assessing the Property's Condition

Before making any offers, it's essential to conduct a…

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Buying a home as-is can be enticing. For those who’ve been struggling to get into the market, the price point can be more affordable. For others looking to buy when housing supply is low, it can present a viable avenue to explore. However, it’s important to bear in mind the decision to buy a home as-is works for some, but not for all.

Buying a home as-is means “the homeowner is selling the home in its current condition, and will make no repairs or improvements, before or after closing,” says Nick Kyte, a REALTOR® and salesperson in Ottawa, Ontario. “Essentially, what you see is what you get, but what you don’t see is also what you get.” 

When the correct steps are taken, buying a home this way could be a calculated and worthwhile risk that pays…

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