When owning a house it is important to factor in your equity. You should not fix up the house4 above your local areas house selling prices.
Putting to much equity into your house can mot re cope the money through a house sale. You want to build equity into your house. Because equity will give you back monies when you sale it.
Example houses in your area are selling for $300. but your house is worth $500. so there will be a loss of $200. thousand on day of sale. so check out a real estate agent before you do anymore renovation because it could save you money. You will be ahead and so will your pocket book.
When you first buy your house get a house inspector to check it out from top to bottom. They will let you know what either needs to be repaired or replaced before make your big investor. Sometimes they can tell you if the house is worth the money your going to pay. Than the home owner must make the repairs or come down on his price in order for you to make them.
This all makes sense but in the long run will save you out of pocket added costs.
It can help make the owner come down on their selling price.
HGTV program guide
hgtv.com/what is my house worth?
This is one of many programs thah help homeowners make decision on innovation prjects do's and don'ts.
Home values Coast to Coast
Projects for Profit.
Clever Choices
Red Light or Green Light on Renovations.
Returns on Renovations
http://www.hgtv.com/home-improvement/franchise-buys-ugly-houses/index.html
This website provides information on renovation projects, remodeling, home buying and building. Choose one from the listing to find out more...
