What are the nearby roads like?
Are grocery stores, hospitals, parks, and public transportation accessible?
What are comparable homes selling for?
Has the neighborhood experienced significant development?
Are there zoning changes planned?
And perhaps most importantly, does the neighborhood fit the buyer’s needs?
A cheap house in the wrong location may not be a bargain for every buyer.
What About the Condition?
This is where an $89,000 home can become especially interesting.
Sometimes a low-priced property is inexpensive because it needs work.
That doesn’t automatically make it a bad purchase.
In fact, some buyers specifically search for properties that need renovation because they are willing to put in the time, money, and effort required to transform them.
But renovation costs can add up quickly.
A kitchen renovation can involve cabinets, countertops, appliances, flooring, plumbing, electrical work, and labor.
A bathroom renovation can require similar expenses.
Replacing a roof can
