When buying your first home, your wish list could outpace your budget. But there’s good news: buying a Chetek home that needs a little work can pay off in the long run. Here’s why!
When you buy a fully renovated or brand-new home, you’ll be paying top dollar, and the seller will be reaping the profits. Plus, the materials and workmanship are only as good as what the seller was willing to pay for. Unless you see receipts, work orders and building permits, it’s hard to know what kind of quality you’re getting.
Conversely, when you buy a home that has “good bones” but needs a little work, you have the opportunity to invest in practical upgrades that can boost market value. If you can do some work yourself, your chances for profit are even better. You also have control over the materials, workmanship and colors, and you can prioritize the work according to your needs and budget.
If you need funds for repairs, you can finance both your home purchase and the repairs in an FHA 203(k) mortgage. The key is knowing what you’re getting into, and being prepared for it.
It’s perfectly acceptable to bring a contractor along when viewing a home for sale. If a concern arises during a home inspection, you can ask to bring in a specialist to obtain an estimate for repairs. If the home is in a good location, and priced right for its condition, it could be worth a closer look!
Whether you are looking for your first Chetek home, or ready to build your dream home, we can help you! Six Lakes Realty is a locally-owned family business with over 40 years of experience in Northwest Wisconsin real estate. Call us today for friendly, hometown service!
John
Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806
Email: john@sixlakesrealty.com
