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Buying a House to be Renovated

With the cost on home renovations increasing year-on-year, when looking for a house to renovate you need to be smart and forward thinking. Otherwise, you may find yourself with more work than you bargained for, sending you broke and over budget.
Make a list of your wants and needs. When buying a house there is the obvious advice such as, don’t rush, do your homework, look around and don’t buy the first house you fall in love with.
Before you set out on the house hunt create a brief, outlining what you are looking for, a wish list so to speak but be realistic.
Be wary of already-renovated houses.You also want to be careful not to buy something that has undergone previous work where you will be paying a premium for a renovation that isn’t to your taste and that you will want to change at a later date.
Consider how much work you really want to sign up for. Structural work is when the bills start rolling in, you need a house that just needs a face lift and doesn’t require moving the stairs, knocking out structural walls or large additions in the form of another story.
We suggest finding a house that already has character as ... more

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