Cheap Properties And What To Expect

Cheap Properties And What To Expect

    I know a lot of home buyers feel that cheaper is better, right?  Low monthly mortgage payments, cheaper home owner insurance and most of all more money in your pocket! Well, I'm here to tell you that sometimes cheaper is not always better.  Let's discuss why this may be in some cases.  

    First, the home that you find may look beautiful on the outside but what about the problems that are not visible to the naked eye?  Some homes are priced low due to the fact that it may need a lot of work.  Repairs such foundation and plumbing could cost you a arm and a leg and what about the interior updates that maybe needed.  You may think that you found the home of your dreams for a little close to nothing but after adding additional cost for repairs and updates you really didn't save at all.  

    Another reason why buying a cheaper house may not be a good idea is the area or location of the home.  Sometimes cheap homes are not located in the best areas.  If you have a family like I do, then crime rates, drug activity and the community is very important for family safety.  Think about it this way. The community alone could bring down the value of your home when you try to resale and make it very difficult.  

    I would advise for anyone to be careful when purchasing cheap homes.  Make sure you do your research.  No one wants to be left with a burden.  Although the seller is required to furnish a sellers disclosure you cannot trust everything that is on paper.  Make sure you get a home inspection to help detect problems with the home you are going to purchase.  

Joe Pritchard Headshot
Phone: 214-478-5903
Dated: October 22nd 2016
Views: 40
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