I still recall friends telling me they were moving into an old house that they had renovated. It\’s sad to see it happen over and over again. Buying an old house to remodel is not appropriate at all. In principle alone. If you buy an old house for 300,000, how much effort, time, nerve, and work will that take? So my friend did not heed the advice and ended up paying a total of 3 million kronor for the old house. It was a nice new house with a balcony and a pool. Unfortunately, she only has a house with nice amenities and a mini garden. However, because of the mortgage, she will continue to pay it for another 10 years. So instead of experiencing extreme joy, she grew tired of waiting a year for repairs, and in the end, she lost more than she gained.
So think hard about whether the effort is worth it for you.
New construction
- As is clear from the previous sentence, the new construction is the better form. At the same time, the construction company needs to be careful. Carefully consider price evaluation and always get quotes from several companies. How many times does it happen that just for the sake of comparison, we forget to give some within our budget. If this happens, the final price will go up. Therefore, always have funds ready for construction. This is required by the building code. However, even a few percent of this can go over budget. For example, if you take out a mortgage for every penny. That is why it is important to calculate more than that, instead of crying yourself to sleep that it did not turn out as it should. This could lead to unnecessary guesswork at the building site. Then the construction itself would have to be halted due to lack of funds to complete the project. That would be hell for both parties. The company would have nothing to pay and you would have nowhere to live.
Remember, there are always pros and cons to everything and these should be taken into consideration. But why buy an old house when you can get a beautiful new house with a pool?
