We recently paid 190k for a nice home knowing it needs some work. It is in a nice area where similar houses in better shape sell for much more. It's mostly functional but outdated. Although, it is going to need new roof and windows in the next few years.
The original plans of saving up to remodel are going to have to be put on hold for a few years so my wife can give back to school. In the meantime we can afford to maintain the home as is (fixing only what's required) but that's about it. Is there any way to get a loan (without making a terrible financial decision to do ao) to do some of the repairs and updating? I suspect any money put into it, if done correctly, would be made up for in the increased value of the home? I suspect I know the answer is we should we just tough it out until we get more income, but I thought I'd ask for some advice before I resign us to living with our 70's decor for another 4-5 years. :)
Submitted March 30, 2019 at 07:28PM by kanjas https://ift.tt/2CNQGcW
