: Always add a 20% contingency fund to your total estimate to cover "hidden" issues found once walls are opened. 3. Strategic Financing for Fixer-Uppers
: Be wary of rooms or ceiling patches with fresh paint. Sellers often use it to mask active water leaks, mold, or foundation cracks. buying a house with deferred maintenance
: Look for outdated panels (like Federal Pacific or Zinsco), which are fire hazards and can make a home uninsurable. 2. Estimate Your "Quick and Dirty" Rehab Budget : Always add a 20% contingency fund to
Before paying for a professional inspection, use your own eyes (and a few tools) to spot major neglect that could cost tens of thousands: buying a house with deferred maintenance