Today’s Starter Homes Hide Massive Remodel Costs Buyers Need To Budget For

For many buyers, starter homes are a good way to enter the housing market.However, a good “deal” can also come with a dangerous financial trap: skyrocketing renovation and repair costs.“I've watched more than a few first-time buyers purchase older homes at an attractive price, only to learn they didn't notice the necessary years of deferred plumbing, sewer, or septic system maintenance that could cost them a fortune,” says Michael Hambrick, owner and operations lead at Rooter Express SC in Anderson, SC.Before you pull the trigger on a bargain starter home, do your due diligence. The last thing you want is to save on the purchase price only to find that it will cost you thousands—or even tens of thousands— to make the property livable. Common hidden expensesThere are several common hidden expenses that can instantly blow your postclosing budget on a starter home. These are often the result of:Stucco issues"Once stucco is removed from a home, we often see deteriorated sheathing, rotted framing, wet insulation, mold, or improperly installed flashing," says Nicholas Riley, owner of Driftwood Builders Roofing in Austin, TX.And unfortunately, a visible crack can be minor compared with th...