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Personal Finances / Buying or Selling a Home

URL:  http://boards.fool.com/well-everybody-is-different-take-me-for-13886580.aspx

Subject:  Re: 1st time buyer dazed and confused Date:  12/12/2000  1:59 PM
Author:  millerpim Number:  15696 of 128887

Well, everybody is different. Take me, for example. I wouldn't buy a house that was completely remodeled because it wouldn't reflect my personality, and, quite frankly, I enjoy doing remodeling. It does give you more house for the money. And it increases your resale ability.

If you remodel it yourself, you can do it on your own schedule, as little or as much as you like. My monthly remodeling expenses run about $300 to $500 or so, which is affordable to me. This way, I can do monthly projects that would cost me $2,500 to $3,000 if I hired someone and greatly enhance my equity along the way.

If you like the location of the house that needs remodeling, I would buy that one. You might get tired of a "perfect" house in the wrong location and it might be harder to sell down the road. You can always fix up a property. It's a real pain to move it.

elizabeth
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