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What to Know About Buying a Fixer-Upper

In a housing market where the number of homes on the market aren’t enough to meet demand, it may be worth exploring properties that need a little work instead of waiting for the “perfect” home to hit the market.

There are benefits to buying a fixer-upper, namely that you might be able to save a little money by buying a home that may not currently have stunning curb appeal. Beyond that, you can renovate and customize the home to your liking, turning it into the right home for you.

It could turn out to be both a sound financial and emotional decision.

“A little TLC shouldn’t scare you off from a property, especially in a market where there could be high offers or bidding wars,” said Ralph DiBugnara, a regional vice president at New American Funding. He is based in Edgewater, N.J. “Making that home what you want it to be over time is something that could provide value when you purchase a home.”

Ralph DiBugnara NMLS # 19269