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Bargain Properties >Bargain Homes
Most buyers want a home that is in tip-top condition and ready for them to occupy, but many homes sell for bargain prices because they need work. Buyers love "fixer-uppers" for the obvious reasons: the affordable price and the satisfaction of remodeling the house to accommodate your tastes and needs.
Whether you are buying the property for yourself or as an investment, choose a house that is in a good location and structurally sound. It should be priced enough below market value (usually 25%) to allow plenty of room for a profitable re-sale after the work is completed.
It is important to educate yourself before taking on a fixer-upper project. Inexpensive cosmetic improvements often give the greatest return on your investment-- paint will increase the value three times for every dollar invested. Landscaping, carpeting, and light fixtures are also relatively inexpensive improvements. Try to avoid purchasing a house that needs expensive structural improvements such as a new roof, plumbing, wiring, or foundation repairs.
Remodeling a kitchen will rarely add more than the cost of the upgrade, but new appliances usually give a fine return. An extra bathroom is the best renovation from an investment point of view, often giving twice its cost in added value.
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Which law allows a person to give another individual up to $10,000 a year without any tax consequences?
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The Federal Gift Tax Law allows both parents to give a child (or anyone) $10,000 each in one year. |
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Diana Dedwylder RE/MAX Pinnacle Group Realtors 1241 W Green Oaks Blvd. Arlington, TX. 76013 Phone: 817 299-1033 Fax: 817 460-3903 Email: DianaDedwylder@NUMBER1EXPERT.com
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· Graduate of Real Estate Training Institute, Prudential Mgmt Training, Century 21 Real Estate Training, Henry S. Miller Training, Certified Residential Specialist “less than 2% of agents Nationwide have this certification”
· Proud Sponsor of the Childrens Miracle Network
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Although there is a wealth of knowledge at www.YourDFWAgent.com put our team to work directly! We want to speak with you.
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