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SVTPerformance's Chain of Restaurants
Road Side Pub
Home Offer
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<blockquote data-quote="Zemedici" data-source="post: 16086899" data-attributes="member: 146355"><p>Plumbing is VERY expensive, especially septic work. It could EASILY run 15,000+ if the system needs replacement (saturated, incorrect install, issues with leach field draining) so keep that in mind.</p><p></p><p>Also, this type of house is a full time job to renovate. Are you going to live in it while it is being worked on? Are you going to to do the work yourself, or hire contractors? My uncle bought a 'fixer upper' thinking it would be a fun project for him and his wife. Bought a $400k house on the lake for $180k.</p><p></p><p>He now realizes why it was $180k. He's put over $100k into it, and doing a lot of the work himself. Luckily his job allows him a lax schedule, or else he couldn't work on the house while holding his job.</p><p></p><p>Some things to think about.</p><p></p><p>You're wanting to refinance the home to pay for some of the repairs, why not buy a $350k house, put that same cash down, and have a similar mortgage, but the house is completed?</p></blockquote><p></p>
[QUOTE="Zemedici, post: 16086899, member: 146355"] Plumbing is VERY expensive, especially septic work. It could EASILY run 15,000+ if the system needs replacement (saturated, incorrect install, issues with leach field draining) so keep that in mind. Also, this type of house is a full time job to renovate. Are you going to live in it while it is being worked on? Are you going to to do the work yourself, or hire contractors? My uncle bought a 'fixer upper' thinking it would be a fun project for him and his wife. Bought a $400k house on the lake for $180k. He now realizes why it was $180k. He's put over $100k into it, and doing a lot of the work himself. Luckily his job allows him a lax schedule, or else he couldn't work on the house while holding his job. Some things to think about. You're wanting to refinance the home to pay for some of the repairs, why not buy a $350k house, put that same cash down, and have a similar mortgage, but the house is completed? [/QUOTE]
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