Thursday, February 20, 2014

Value of Buying Rehabilitated Homes

Value in Rehabilitated 

 In watching HGTV and other similar "home" cable networks, home buyers can get the mixed message on purchasing a fixer upper or a rehabilitated home.

Though Realtors like me are always connected with great reliable contractors, many buyers are not economically fit to purchase a home and have the financial ability to pay for renovations.  

Another group of buyers seek a well built home at a good price but have no interest or ability to renovate a house into a home.

For these specific groups and those buyers that want that "new construction" feel, rehabilitated homes can really be the ticket!!

These rehabilitated homes can be single family homes

Or can be town homes or condos should the buyer seek less yard or exterior maintenance.

One of the main advantages of rehabilitated homes
is that a nice upgraded kitchen will not only have the pretty granite counters and great upgraded

cabinets but also brand
new plumbing and electrical.   In the older homes that many 1st Time Home Buyers and value-conscious home buyers seek, these "hidden" benefits are what bring extra value to the new home feel of the rehabilitated  home

In addition, the new roof, new windows and new HVAC that are common to rehabilitated homes grant the home buyer a secure feeling that "big ticket items" are and should be in good shape.
This becomes important so when they are ready to move up or move out of the area that the house will pass a home inspection without the big ticket items being a possible issue.

Speaking of home inspections,  rehabilitated homes come with lots of benefits that can permit a buyer to feel that the 1977 home being purchases is as good a "New".   Yet, the buyer should not simply buy on "feelings".  A through home inspection, though only a visible inspection, can ensure a home buyer that the seller didn't fail to complete a task or missed a needed improvement that the home buyer may never know about until they sell the home.   

The typical buyer should never wave the right to a home inspections.   Investment buyers can be a different story.

In conclusion, rehabilitated homes can be a great choice for value conscious home buyers and 1st Time home buyers with out the capital to complete renovations, lack the interest or desire to do the renovations and/or seek a "new" move in ready home on the "cheap".

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