Home Buying in 08031>Question Details

Michele P, Home Buyer in 08031

why do you have to tear it down why can you fixet it?

Asked by Michele P, 08031 Sat Apr 5, 2008

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In addition to the already helpful answers, it doesn't raise expectations for the buyer.
An agent doesn't want to confuse a "fixer upper" with a "tear down." There is perhaps a fine line between them, but a tear down means don't put any value on the home. If anything take out the value (cost) of removing it.
0 votes Thank Flag Link Sun Jun 15, 2008
Hi Michele P,
Your questions seems some what ambiguous. I hope I can help answer this for you. If someone is purchasing a property that needs work and the work is too overwhelming or cost prohibitive to the individual that would be a case that a buyer or current owner would tear a house down as opposed to fixing it. In certain areas the price of land is more valuable without an old worn structure so that would be another case to tear down. Or perhaps the local code officials have deemed a structure uninhabitable and that would be another case for a tear down. Those are a few scenerios. I hope that helps. Best of Luck to you. Lucy
0 votes Thank Flag Link Sun Apr 6, 2008
I'm going to assume you meant why do people choose to tear down a house instead of fixing it up. Many people will go into a fixer-upper and do exactly that... they'll renovate, repair and fix it up over time because they liked the basic structure and layout of the house. Other times people love the location, but either the house is in such bad shape, or the layout doesn't work for them, or they've evaluated the numbers and the price of what they paid for the property plus the cost of constructing a new house (designed exactly the way they want it and brand new) is LESS then it would cost them to by that same house already constructed or to renovate an existing house and get it into that condition. Hope that was the question and hope that helps!
0 votes Thank Flag Link Sun Apr 6, 2008
Not sure I understand your question. Fix what? Some properties are condemned by the city and take to much work to fix up.
0 votes Thank Flag Link Sat Apr 5, 2008
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