Reply to Buying $325k home on $100k HHI, for potential profit on sale in a few years (not in DC)

Forum Index » Money and Finances

Reply to "Buying $325k home on $100k HHI, for potential profit on sale in a few years (not in DC)"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]DYI or are you hiring people to do the work?  Our realtor's estimates for renovations were laughable compared to the market.  [/quote]

I paid an architect/contractor team to make a realistic assessment of the renovation costs. Once we get an inspection, they'll be able to line item the costs more specifically, but unless something huge shows up on the inspection (and there's not much left to show up that we don't already know about, really the house is being rebuilt already), their $225 estimate should be on the high end of where we'd land. If inspections showed something to make it any more expensive than that, we probably would not go forward with the project.

I'm someone who is pretty obsessed with houses, renovations, and real estate values, so I'm also not worried about having the patience for it. I know it will be stressful, but for me this is a good kind of stress. The financial aspect is what I'm concerned about, I just don't want to be foolish. I think some financial tightness and a bit of gamble with the real estate market is worth it for this project, but I'm also looking for some objectivity. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics