Have you pulled money out of the stock market over the last few years looking for a safe place for your capital? Do most of your investments carry low interest rates? If so – the timing may finally be right to consider buying a home or condominium for your personal use, rental, or resale.
You may say – real estate – you’ve got to be kidding! With continued tight lending practices cash buyers have all the cards – and there’s a lot of cards (i.e. home supply) available. With the large stock of foreclosed homes and short sales (sales where the value of the home is less than what’s owed on the mortgage) you can find great deals (note: cash buyers can often buy homes for 5 to 10% less in an already depressed market). These existing homes will likely come with a “price” – they often need remodeling and renovations.
Here’s some remodeling tips to consider to maximize the value of a newly purchased home: