 Is it worth buying to let a property? |
I am interested in buying a proprty to let in the Gravesend Kent area, or Swansea.
Are there any pitfalls I should be aware of.... |
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 How do I begin to "play" the stock market? |
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 Where could you download music for free? |
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 What is the Safest way to make a million bucks in less than three years? |
| If you are a smart guy who makes a low middle income? I heard buying a house and just sitting on it for a while always works, but it seems that this only works at certain times when the morgage rates ... |
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 Should I start my 401k now in this crazy market? |
I have been with my company awhile, but have not been making contributions because I was paying off debt, I am now debt free.
I am 25, and my employer matches up to 8%.
Two ... |
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 Mutual Funds? |
Teach Me.
I want to know everything about mutual funds, what are they, how do the work, where can I buy them, what am I buying, how do I make money off them, etc. Please don't direct me to ... |
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 Best stocks? |
i need 3 of the best stocks that are supposed to do well over the next four months. i already know oil and companies like exxon and mobil. all i need are 2 more different ones.
thanks C:... |
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 How can I become a good invester in stock market? |
I am Praveen from india.
I would like to invest in Indian stock market(BSE,NSE)
can any one suggest a good broker in india with minimum brokerage.also a good website which gave good ... |
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| I have $15,000 to invest...any advise? |
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crystal s | Is it a safe investment for a first time buyer to buy an old house? |
we are lookin in to buying our first home and we are fixated on a older house built in the 1920's, we are not the handiest people, maybe we can learn, but is it hard to fix up a old home? |
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i have no idea
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It's very important to have the house inspected by a licensed inspector before you buy the home. You may be fixated (and I stress the FIX part of the word) now but it could become a real money hole if you're not careful. In this type of purchase you need to think with your head not your heart as it is truly a investment of both money and time. Don't let your first home purchase become a nightmare, educate yourself first. Good luck! |
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tom my
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Unless the old house is sitting on a prime land then it will be worth buying. If its not, why risks buying a old one after all you're the first time buyer. |
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Just Wondering
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Well there are a lot of things to consider but you also have to think of the upkeep on the house and regarding utlities. A lot of the time old houses tend not to hold heat very well. You will probably have to change the windows in the house which is costly and I am sure that you won't be able to do that yourself. Also there are certain panneling used on the outside of a lot of houses that are cancer prone if taken down like asbestos. If you want to ever re do the color of the outside of the house it is A LOT of money because of the handling of it ...so your only option would be to paint it. Insulation would probably have to be replaced. And you also have to take in to account that things as simple as the size of doors back then are different then standard ones today so all of those things would be more expensive. But truly I grew up in a 1920's house and they are great but they do require upkeep. If you have the money, go for it... someones gotta love em =) |
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L B
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I wouldn't think so, you don't know what you're getting yourself into... they require a lot of work and money. If you have tons of money then you can hire people to do the job correctly, but if you don't you are on your own and that might get overwhelming. I too would LOVE to own an older home, they are charming, but I know I don't want the headaches that come along with it. If I were you I would find a trusted builder and have them build your dream home (made to look as an older home) instead. Remember older homes used lead paint, might still have the old electric wiring (dangerous), etc. |
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Brutus
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Since you are not handy, you'll have to pay contractors for everything. Consider buying a new home that normally comes with a one year warranty from the builder. |
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I'manalienfrog
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I would avoid it since you're not handy. The cost of contractors for repairs is crazy expensive. If it is just cosmetic issues then I would say go for it. Anyone can paint and paper and it's cheap to do. |
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jkade
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I did Bought my OLD house for little and worked at fixing it up over the years and now IF I sold it I would TRIPLE my profit!!! It has been appraised at triple what i bought it for!!!! So, I say as long as there is no structual damage....termites ect... GO FOR IT
BUT know it is work!! GOOD LUCK!! |
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Joe H
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It is NOT a SAFE investment. This is your short answer. Just about all the points made by other are valid. It would be better to think of this as a hobby that you would like to do and would be able to live with. You should seek expert advise regarding your assets and income vs. the expenses of the house and it's upkeep/repair/remodel.
Good luck. |
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GreenHornet
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Get a reliable inspector to take a look at the place first.
With the accent of the word RELIABLE.
You will need a thorough inspection, and maybe even an estimate on what repairs will cost. You can insist on some repairs, like termite damage, being done before you buy.
If the house needs a lot of work, make sure that you get it cheap. |
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Gone fishin'
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Before you buy get a professional to inspect the home for hidden problems then contact your insurance company with specifics on the house to make sure you can get insured...then you can start fixing up. It is hard to fix homes and very time consuming. |
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