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Today we want to talk about wrapping the renovation of a house around its purchase, and why we think it’s such a good idea.
Being able to do this helps our clients out in a few ways. Often times, individuals can’t find the right home and want to buy in a neighborhood just out of their price range. One way we have been able to solve this in the past is by finding a home that’s maybe a little dated or has some deficiencies, and renovating it with the savings we will get on the purchase price. We roll it all up into one transaction, and you end up with a house that is newly remodeled and you also have some real financial advantages.
We recently had a client who paid a little over $100,000 for a home that was little more than a shack. The renovations cost us about $35,000-$40,000 and they were totally worth it. Those homeowners are now going to sell that house for $50,000 more than what they paid for it originally.
Being able to do this not only helps sellers move their properties, it allows buyers looking for live-in homes to get the one they want and helps our investors flip properties.
If this kind of strategy seems like something you’d like to try, give us a call or send us an email. We would love to help get you into the home of your dreams!
