| With the housing market in the slump now is the | | | | you're going to be happy it will take some work and |
| best time to become a homeowner. Whether it be | | | | it can be done cheap. I want to give you an extreme |
| buying new, buying old and remodel it or building from | | | | example. I bought a house in the country with 2.5 |
| the ground up. The main thing is to move on now | | | | acres of land, an 8 stall horse barn and a 20x40 |
| while the market is so down. In this section we will | | | | garage and workshop original price was $55,000.00 |
| talk about existing homes to remodel. Right now is | | | | and let me tell you this house looked really bad. I |
| the best time to be the one on the buying end unlike | | | | ended up purchasing this house for $44,500.00.And |
| in years past where it has been a seller's market. | | | | over the next 3 to 5 years put another 20,000.00 in |
| There are great deals out there for existing houses, | | | | it, but the house now is worth 150,000.00. That is |
| make sure you have a qualified person check them | | | | 85,500.00 equity, and was all done over time. One |
| structurally. | | | | advantage of doing it this way is it is all tax |
| If there is nothing wrong with it structurally then just | | | | deductible. |
| about anything can be fixed easily as long as the | | | | The little things you can do to fix an old house up |
| price you are getting the house is a steal. Say if you | | | | are unbelievable. If you take your time you can have |
| can buy a house that needs some work and a couple | | | | the house of your dreams before you know it. As |
| acres of land for say $50,000.00, you have to put | | | | far as buying material your major home building |
| another $10,000.00 in it but once your done that | | | | stores (Lowes, Home Depot) are always doing deals |
| 60,000.00 house is worth $140,000.00 in a down | | | | like twelve months with no interest. This is a great |
| market, what is it going to be worth when the | | | | way to remodel and not cost a bunch at one time. I |
| market goes back to normal 180,000.00 or maybe | | | | am working on several How To projects that will |
| even $200,000.00. What I am telling you is you can | | | | outline all of these options and fixes. So if buying and |
| take something not that attractive and cheap and | | | | remodeling an existing home is for you especially with |
| turn it into your dream home for very little, at the | | | | the minimal investment move on it now while the |
| same time you already have equity for your children's | | | | market is down and make that great deal. |
| college, your retirement, emergency you see what I | | | | Remember never settle for the first offer negotiates |
| mean. | | | | it will save you several thousand dollars. |
| I am not saying go out and buy an old house and | | | | |