Ocean County “Handyman Special” Homes

In real estate brokerage jargon, a Handyman Special is a property that is in need of repair, a fixer-upper. The implication is that the property is a bargain for someone who can accomplish the repairs economically. Scroll down the page to see all the Handyman Specials in Ocean County.

For a complete, up to the minute, list contact me and I’ll be happy to provide you with a list and all the tools you’ll need to complete a successful real estate transaction. All the homes connected through the links below are $150,000 or less. Again, contact me if you’d like to see handyman specials in Ocean County over $150,000 and I’ll be happy to provide that to you.

When buying a Handyman Special Home in Ocean County, there are certain things to consider. While a handyman’s special, or fixer-upper house, is generally priced much lower than other houses in the area, prior to buying, it is important to know what needs to be fixed and how much it is going to cost. In many cases, the homes are usually advertised “as is” which means that there are substantial repairs needed.

If you are getting a mortgage, chances are your mortgage lender will want to make sure that the house is inhabitable before lending you the money to purchase the property. Costly repairs in a handyman’s special include heating and air conditioning, roof repair, foundation cracks, termites and electrical or plumbing problems. The costs of repairing these items must be taken into consideration when buying a Handyman’s Special in Ocean County.

Those with skills in the above areas can sometimes get a good bargain with a handyman’s special as they can generally fix these items themselves. Other, less costly repairs include broken windows, holes in drywall, poor flooring and problems with fixtures or appliances. These repairs generally cost a lot less money and are generally easy enough to be repaired by someone who considers themselves a weekend handyman.

A handyman’s special can be a great real estate investment, as long as you know what is wrong with the home and how much it will cost you to repair. Wondering how you can purchase a Handyman Special Home in Ocean County AND afford to renovate?

Whether the improvements you envision are large or small, necessary or optional, a “Purchase & Renovate” mortgage can help you explore renovation loan options.

  • Potentially higher loan amount. Your loan is based on the property value after renovation, instead of its current value.
  • Lower interest rate. First mortgage rates can typically be lower than second mortgage and credit card rates, which can help reduce renovation financing costs.
  • Lower monthly payments. Financing your mortgage and renovation simultaneously spreads improvement costs throughout the term of your loan.
  • Tax deductible interest.1 The interest on your renovation costs are part of your first mortgage.
  • No delay. You can begin your renovation immediately after closing.
  • Simplicity: There’s only one application, one set of fees, and one monthly payment.

Get a positive, helpful consultant for buying or selling a home in Ocean County:

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