I have a chance to buy a broken down house worth $10,000 , and repair would cost about $13,000 would you buy it? I am in a slump can any one give me advice about the house thank you, i am a single mother with 4 children and renting an apartment
2006-09-28 11:31:19 · 9 answers · asked by mateli6 3 in Business & Finance ➔ Insurance
buying and fixing real estate is money in the bank. you may also get a better price on repairs. list everything you can do yourself like painting and whatever might be in that price that you could do yourself. get a new repair estimate and you have spent your money wisely. good thinking. you can sale your new home for triple your original purchase price
2006-09-28 11:39:21 · answer #1 · answered by Billy T 6 · 1⤊ 1⤋
SHOP AROUND !! You do not need to have repairs going on in a run down house with 4 kids !!! Who said these repairs will cost $13,000 ??? Be aware that when said and done, the repairs will be more like $25,000 if not more !!! Can you afford this ??
If the electrical is bad in the house, that alone could run you $4,000 to $7,000. Please be aware of the numerous things that could go wrong as well!
You do not need to have this crap going on in your life with 4 children to raise.
Find a home that is move in ready.... If you are financially NOT WELL... then buy a home that is small and have the kids share bedrooms. My sister and I shared bedrooms for years and it did not ruin our lives !! Today people seem to think that EVERYONE must have their own room so they end up buying way more than they can afford ! DO NOT FALL INTO THIS FINANCIAL HOLE !!! look around for a move in ready, small and one you can afford to stay in for many years and be happy !
GOOD LUCK TO YOU !
HAPPY FRIDAY !
: )
2006-09-29 11:20:33 · answer #2 · answered by Kitty 6 · 2⤊ 0⤋
SHOP AROUND first! Don't jump on the first thing that comes along, especially if you really do have a inheritance! You may not get this chance ever again, so be wise, check into all details, check out the house for hidden damages, etc.! Good luck! :)
2006-09-28 18:34:07 · answer #3 · answered by Life after 45 6 · 2⤊ 0⤋
I would not buy a house right now. Wait a year or so and prices will be down a lot. Put that cash in the bank and save it for a while.
2006-09-28 18:38:56 · answer #4 · answered by spongeworthy_us 6 · 0⤊ 1⤋
Pay off any debt (if you have any), save the rest & keep adding to it for a down payment on a house that doesn't need alot of work.
2006-09-28 18:40:14 · answer #5 · answered by MissDanielle 3 · 2⤊ 0⤋
Safety is a good thing ! Are you safe now ? Would you be better or worse with the house ? You can't get your life back, or your children's if killed in an unsafe enviornment.
2006-09-28 20:23:04 · answer #6 · answered by The Advocate 4 · 0⤊ 2⤋
Jump off a building.
2006-09-28 18:39:09 · answer #7 · answered by bria. 3 · 0⤊ 2⤋
there is nothing you can do with YOUR life insurance because they don't pay the money until after you are dead.
2006-09-28 18:42:44 · answer #8 · answered by mr. Bob 5 · 0⤊ 2⤋
i will get a cheap on you dum
2006-09-28 18:38:58 · answer #9 · answered by Anonymous · 0⤊ 3⤋