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Buy a Fixer Upper or Renovated House?

Professional House Flipper, Bobby Curtis’s 5 Question Quiz. Take it!

Choose A or B
1. A) I like the idea of living in a project for 6 months and don’t mind the dust and hammering everyday to save some money.  B) I’d rather move right into a beautiful house and don’t mind spending more to get it.
2. A) I’d rather manage contractors and roll up my sleeves for the exact kitchen I want. B) I’d rather buy a house with a nice kitchen that doesn’t have everything I want, and spend more time on things important to me.
3. A) My schedule can be flexible for the right cause. B) My life is already packed with the most important things.
4. A) I would have a smaller home loan with more money out of pocket. B) I would rather have a bigger home loan with less money out of pocket.
5. A) The unknown is an exciting opportunity. B) I thrive on things and people I can count on, and knowing whats coming next.

More A’s? Consider buying a fixer upper.  You might be cut out for this. Just be sure the amount of work that needs to be accomplished on this house fits in with your financial and time budget.

More B’s? Consider buying a house that someone else has already renovated for you! Buying a new house and moving your life is a lot of work in and of itself.  All things considered, it’s probably better you focus on other important things in your life, and not take on this kind of project like renovating your new house.

When deciding on whether to buy a fixer upper, or buying one that is move in ready consider some of these:

1. Are you willing to live in a project for a period of time or will this be too disruptive for your life?
2. Are you ready to roll up your sleeves? Whether you do some of the work yourself or hire it all out, it will still be a part time job. There are materials and products to pick out and contractors to manage.
3. Money! After buying a house, will you have the resources available to do renovation work? Renovation loans are difficult to come by, so often times buying a fixer upper involves more cash out of your pocket.

To learn more, watch Bobby’s interview on KATU’s Afternoon Live with Tra’Renee Chambers here: Afternoon Live with Bobby Curtis

Bobby Curtis
Principal Broker
Licensed in Oregon
Licensed Contractor CCB: 215071

503-502-3066
bobby@livingroomre.com

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