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Purchasing a Fixer-upper Home in Minnesota
For some reason consumers like to think that because a home is considered “distressed” or has the words short sale and foreclosure in the description it is a great “deal”. I would encourage you to really think it through when considering a traditional sale versus a distressed home. When you buy a fixer-upper home, you can save a ton of money, or get yourself in a financial fix.
Here are a few things to consider:
1. Decide what you can do yourself
TV remodeling shows make home improvement work look like a snap. In the real world, attempting a difficult remodeling job that you don’t know how to do will take longer than you think and can lead to less-than-professional results that won’t increase the value of your fixer-upper house.
Do you really have the skills to do it? Some tasks, like stripping wallpaper and painting, are relatively easy. Others, like electrical work, can be dangerous when done by amateurs. Do you really have the time and desire to do it? Can you take time off work to renovate your fixer-upper house? If not, will you be stressed out by living in a work zone for months while you complete projects ... more
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