Would you buy a fixer upper home

[Jason Voorhees]

@Number1Greycel

 

[Number1Greycel]

@Number1Greycel

Yes me and my dad were really considering this in the past however now that the median house price in my area is 2 million aud it would be impossible to afford it and then even add a little bit of value would be hard this was the strat years ago but now it just seems impossible

 

[SplashJuice]

Detroit is still is a shithole tho. It is not turning into a family friendly tech haven overnight and land value is very volatile while in places like cali it is guaranteed to go up.

Yeah but there's still certain pockets that'll go up in value I'm not talking about living there but rather investing, California needs way more starting capital but there are smaller cities where it's more promising like Fresno, Bakersfield and Sacramento.

 

[LettersfromAgartha]

One popular trend I've noticed is many people opting for fixer upper homes

For people looking to buy a home and settle in bay area. There's a problem. Shit is just way too absurdly expensive and unlike in cities like in London or NYC where commuting from suburbs can be done, it doesn't work like that in

The entire Bay Area from San Jose to Fremont to Pleasanton is part of the same tech corridor. The average homes goes for like 3 million dollars and even in suburbs most of them have million dollar starter homes and sky high property taxes. You're not escaping the cost by moving 30 miles like in other places. Unless you are one of those insane niggas who is okay with commuting two different counties.

So what I've seen many people doing is moving to these fixer upper homes which means houses that needs significant repairs.


View attachment 4815663View attachment 4815664

The worst house in a good neighborhood. Outdated interiors, poor layout, busted HVAC, cosmetic damage etc. Basically signing up for living in a semi construction site for the next several months or sometimes even years. But if can be had for significantly less. Land value >> structure value.

Would you buy a house like this that needs significant repairs and renovation? Also keep in mind the labour costs especially in a place in California is insanely high. If things go sideways you are kinda fucked. You are also largely on your own because there is no builder warranty and no support.

Wouldn’t even be in California for that. They have shit gun laws. I would get a fixer upper house in a way better area

 

[Jason Voorhees]

Wouldn’t even be in California for that. They have shit gun laws. I would get a fixer upper house in a way better area

Why? The weather is amazing

 

[Jason Voorhees]

@Jager @aids @Ergogenic

 

[zygosmasher]

It’s completely situational

It can be good if it’s a good opportunity

Vice versa

However these days with this trend people markup those houses like crazy so it’s getting less and less viable

 

[Jager]

One popular trend I've noticed is many people opting for fixer upper homes

For people looking to buy a home and settle in bay area. There's a problem. Shit is just way too absurdly expensive and unlike in cities like in London or NYC where commuting from suburbs can be done, it doesn't work like that in

The entire Bay Area from San Jose to Fremont to Pleasanton is part of the same tech corridor. The average homes goes for like 3 million dollars and even in suburbs most of them have million dollar starter homes and sky high property taxes. You're not escaping the cost by moving 30 miles like in other places. Unless you are one of those insane niggas who is okay with commuting two different counties.

So what I've seen many people doing is moving to these fixer upper homes which means houses that needs significant repairs.


View attachment 4815663View attachment 4815664

The worst house in a good neighborhood. Outdated interiors, poor layout, busted HVAC, cosmetic damage etc. Basically signing up for living in a semi construction site for the next several months or sometimes even years. But if can be had for significantly less. Land value >> structure value.

Would you buy a house like this that needs significant repairs and renovation? Also keep in mind the labour costs especially in a place in California is insanely high. If things go sideways you are kinda fucked. You are also largely on your own because there is no builder warranty and no support.

doesnt seem like a good investment the risk of being fucked is also bad so id prefer buying a ready to move house not this

 

[dhusc]

This is not the average buyer's experience tho. Most people don't have trusted crews or don't know how to manage a renovation efficiently.

That true but as long as you go with a cash only crew and they have a good leader you will still see great returns

This applies to cali idk about other places

California housing market is artificially inflated so even if u suck prices will just continue to rise

this you need to know people can’t just hire sm rando Mexican with 0 skills just for him to fuck everything up and make you go another process of repairs

the capita needed to even fix one of these run down houses is far more than a lot of people can afford

you can run a profit if you know people and you get lucky but there’s a lot of hidden costs that people fail to realise in said houses and they don’t just sell these houses for cheap for nun

 

[kisslessvirgin]

This is an extremely case-dependant scenario. If you know what you are doing and know what to do and the precautions to take, it can work out well for you. but there are many risks and real estate is one of the most predatory industries.

 

[kisslessvirgin]

personally, I don't have the connections or means to make it happen so I would pass.

 

[kisslessvirgin]

this you need to know people can’t just hire sm rando Mexican with 0 skills just for him to fuck everything up and make you go another process of repairs

the capita needed to even fix one of these run down houses is far more than a lot of people can afford

you can run a profit if you know people and you get lucky but there’s a lot of hidden costs that people fail to realise in said houses and they don’t just sell these houses for cheap for nun

exactly, to many people thing its easy money but get stuck and end up spending a lot more than anticipated. planning counts.

 

[aids]

Only if I had a comfortable place of living elsewhere. Otherwise I’d buy a home that I could immediately move into.

 

[karmacitathugmaxx]

@karmacitathugmaxx you have a dogshit username

that means nobody will try to steal it