I got a lead from my neighbor about a house that is starting foreclosure. What is interesting is that every door was widened to accolade the owner who has a wheel chair. Also, from what I hear, walls have been moved as well to allow more access (for example in the bathroom). There used to be an inch it two porch (cement just raised) it now has a gradual slope like a small ramp. What are your thoughts about a home that has been modified like this?
Would it be best to return it to stock?
When calculating an offer would you consider reversing this in your calculation?
Does it limit the potential buyers?
In todays market, a lot of companies are promoting universal design.
This may be a little different in your case. As for the house in question, handicap accessible may, or may not hurt the resale value. This would all depend on the aesthetics of the property.
Sometimes, slight modification to the existing condition may allow it to be visually pleasing.
As an investor, consider viewing the house through the eyes of a prospective buyer. If there some things that just need to be redone, you will need to factor that in your purchase price.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing