Fatal attraction...it was a movie that made you squirm in the theatre seat.

I don't even own a family pet rabbit but the idea of Buggs simmering on a cook stove got my attention. Like a full throttle chain saw in your kitchen's deafening roar and blue oily 2 cycle smoke stinking your eyes, hitting your lungs. The wrong Real estate purchase can be like that. You find a property that you know is way beyond your time to fix, your expertise to correct the over flowing job jar on a place. Many of the undo, redo, make do renovations you had not counted on due to major major design flaws or deferred maintenance. The kind of jobs and updates put off from lack of money, know how or apathy where one job you expected after purchase of the gem turns in to three more as you tear away and see how extensive the damage really is.

     You had hoped for the best scenario thru out the house rehab but maybe the real estate is under a bad spell..one your do not have the time, resources, "power" to over come. Now you sit slurping a coffee on a Sunday morning in a home's living room that is torn apart, needing a major cash infusion and your undivided attention. If the lot was worth what you paid for it and the cost to demo is not excessive because there is no hazardous waste to add to the fun and games removal exercise, there is one plus. If the foundation, roof, lay of the land for drainage is healthy...wheezing but breathing on it's own, that's another bonus. The place is level, the heating and plumbing are better than the early pilgrims had so add another small check mark.

You should have asked other people you know in your community and contractors mistakes they made in early home renovations on places that had ten foot pole marks all over them but they bought ignoring those pole marks anyway.

It is not how low cost the place was and how you feel like a warrior, a gladiator for legally "stealing the place". It's what you have to do after the purchase that makes the total picture rosy or smell like dead fish or company that has stayed too many weeks.

     The properties, homes or whatever structures in eye sight of your "castle" are way way better condition than the purchase you are eyeing, considering so that eases some of the real estate tension. But before you reach for your wallet to slap down that deposit to make it yours, examine your motivation and drive to buy right now. Are you buying with your heart or your head? Are you thinking you will be way over your head in real estate quick sand and are there any doubts, fears you are pushing to the back of your mind? Listen to that voice in your head. Are you in a hurry for this project to keep your college kids busy next summer or over semester break?

     Or is work slow and as a business owner, are you buying to just keep your employees busy on a side project..one to keep you from having to lay anyone off? Noble but fool hardy? You'll know eventually and we'll get back to you on that one. The jury is still out as you nervously figgit with your check book pondering what do you do. Have you watched too many "flip this home" shows expecting only to donate a few hours of your time and under a $100 of materials to hit one major league real estate home run? You did not order the real estate TV guru's tapes and books too did you?

     Okay, if you are seriously going to do this, get your estimates on materials, your home inspection done. Round up the contractors you will need on the areas way over your real estate expertise..the dark murky areas on the other end of the home renovation pool. You need this information to know the full list of what's ahead for projects. To avoid wasted steps, unnecessary duplication of effort. Plan your work, work that plan kind of emergency room real estate logic. Consider all the worse case scenarios..not because you are a negative Joe or Jane but because you are preparing yourself for disaster and to protect from hearing your own voice in your head kicking, screaming "I told you so". Your friends, neighbors, relatives will want to add their two cents too so with the information and racing ahead to look back, how does this purchase help you with sleep at night, your desire to eat and think about something else going on in your daily life routine. Is it a hobby, passion, going to be fun or do you see cracks in the logic of putting your name on the real estate deed?

Watch a quick video on the process of rehabbing a home, the fun and games in the process.

info@mooersrealty.com 207.532.6573 Log on www.mooersrealty.com