Buying an Abandoned House

Yes, we must find out the reasons the house for being abandoned before we decide anything. However, it is very hard for us to find out the truth before we buy it. Those neighbors will only start gossiping after we buy it. Anyway, buying house is something like trying our luck too. If we personally feel comfortable when we visit it, then it will not be a problem home to us later. In my advise, abandoned house will be good to be renovated and to resell. For my own house, I want a totally new house.

I heard it too that buying old houses to renovate and sell afterwards has a good potential for business. I do even want to get into that business but I have no enough money to start yet.

In my personal view, we must find out the reason it is abandoned, then only we consider if it is worth to own it or not. For instance, my cousin bought a haunted home. They were disturbed by making the odd noises since the first day they moved in. The door of the cupboard slammed and opened by itself. The floors and the ceiling were knocked with noises and so on. At last, they saw a little girl with read dress who played at the living room during the late of the night. From what my guessed, this house was built on her place where she was buried. If we could have a ceremony to invite her to move out, then this house was still a good house to stay. ha! ha! I just want to share whatever I heard with you and hopefully it is not the truth too.

Yes, you are right. We must consider our budget to make good of the whole house before we decide to buy it. However, we can bargain for the lowest price since it is an abandoned house. Of course, I do not dare to keep it for my own use since this house has been abandoned and I do believe that there must be certain bad reasons for being abandoned. However, I do think this abandoned house will provide me a business opportunity which I am desperately looking for.

I do have the same point of view to buy a new house which is for my whole family to stay comfortably even though an abandoned house can be cheaper or with more discount since it is already abandoned for quite some times. Just because there was a discussion about buying abandoned houses from the real estate agents, I started to query myself if it should be wise to do so or not. ha! ha! May be abandoned houses are go to buy for renting only, I think.

Yes, you are right. There were few cases about buying fake lands with fake documents. Those victims only discovered being cheated only when the relevant land owners noticed their lands being built or developed for other purposes. To avoid such fake cases, it is good to get loan form the bank so that, the bank will go through the whole procedure to verify all of the particulars of the land. In addition, the money we have paid will be very difficult to recover too.

The local government here imposes high taxes on the net profit when we buy and sell a house within 5 years. This year, the government increases the tax from 10% to 15% of our net profit if we own a house and sell it within 5 years. The main purpose of this tax is to increase the Government's revenue, to stop those who just mainly want to earn from selling properties and causes the high inflation. But even though the tax is high, I still can consider to do as per your suggestion because I can sell the houses with higher prices and the buyers are the one to bear those taxes too.