You’ve been
looking for homes and all need repairs, when all of the sudden, you find one
that has been rehabbed! You are so excited – it looks move in ready! Hold on
just one second – there may be a few things to consider. Often rehabbed homes
are being sold by investors that buy the house at a low price, fix it up, and
then sell it at a higher price. There are a few downsides to this to consider.
You don’t know
who the contractor is that rehabbed the house. Did they do a good job on the
repairs or did they just do the bare minimum to make the place “look” new using
cheap materials and labor. Was only cosmetic work done or were the major
systems repaired too? The other disadvantage is that you don’t have any control
over the repairs. They have already been done for you. If you buy a fixer
upper, then you can make sure the work is done properly and to your liking.
There are a lot
of great contractors out there that rehab properties – so don’t be turned away
by one. Just make sure you do your due diligence to make sure it was done to
the standards that you would expect. Our buyer’s agents will help you through
the process and make sure that your interests are being protected.
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