Pros & Cons of a Handyman Special:

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When it comes to buying or selling a home, have you ever heard of the term “The Handyman Special.” It is a specific home being sold at a lower price due to the amount of work and repairs that are needed to be put back into the house. Houses that need lots of restorments and work are known as the Handyman Special. Finding your ideal house at an affordable price is proving to be almost impossible or are you interested in a fantastic deal on your future house? Or the complete opposite, are you looking to flip a home? There are several factors that might influence your decision to buy a handyman special as your future house. Investing in these homes could be beneficial based on the amount of work that has to be put into the home. Before making a down payment on a handyman special, look into all options and see if this is the right one for you.

First and foremost, the cheapest property in a desirable community will increase in value considerably more with ownership and improvements than the loveliest and most expensive residence in the same neighborhood. Buy cheaply, put in a little work, and you should see significant returns. The typical buyer wants to acquire a ready-to-move-in house. To avoid having to undertake the job themselves, they will pay a high price for that turnkey property. The owner hasn't patched it up for a variety of reasons. Lack of accessible funds, a troublesome inherited home, the necessity for an urgent or unforeseen sale, etc.

Some easy solutions to improving a handyman special home can be as simple as cleaning up the property, patching holes in walls, and a new coat of paint. And can range as far out and expensive as adding a new deck, landscaping and detached sheds. You can even replace old light fixtures, add new lighting, electrical switches, add ceiling fans. As well as redoing a kitchen, adding new shelving, new cabinets, fixing cracks and windows. There are a variety of solutions to fixing a handyman special but there are benefits and disadvantages to purchasing it as well. Here are a few of both so you can correctly weigh out your options and proceed with purchasing or selling a home.

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Some benefits of buying a handyman special home consist of being able to customize it to your own liking instead of settling for a home and design that you are not particularly fond about. When deciding to purchase a handyman special there is less competition. It is a good way to save money and purchase a home that you can maximize profit on. There could be a neighborhood you've always wished you could call home, but the cost is just slightly out of reach right now. If you choose a move-in ready property, you may be spending quite a bit more than you may frequently would with a handyman special in the area. It is a reasonable way to purchase a home.

However, when viewing the disadvantages. You may spend more money than what is in your budget to renovate the home, it could be a project that takes months and even years based on what you are able to spend. As well as fixing a home comes with many hurdles to jump over, most shows may make it look easy but there's a lot that goes into it with permits and finding the perfect construction crew, the right materials.

All in all, you definitely will need to review your budget and see if a handyman special home is the right home for you.

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Looking to buy or sell your home on Staten Island? For all your real estate needs, look no further than Tom Crimmins Realty! Give us a call at (718) 370-3200, and we can provide you with professionally-trained agents who are flexible to all that you’re looking for!

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Posted by Tom Crimmins Realty on

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