Before hiring a bulldozer to slam into your house and smash it into smithereens, consider hiring a consultant who can advise you if it makes financial sense to tear down the house. A house that may look like a total ruin to you might be salvageable. Fixing crumbling walls, sagging roofs or sloping foundations is not as expensive as you may imagine.
On the other hand, with even postage-stamped lots selling in some areas for more than $300,000, the land on which the home is situated might be worth more without a house that has outlived its useful life.
Check with your city building department to find out if the home you want to tear down is on a historical preservation list. In Midtown Sacramento, for example, Victorians cannot be destroyed, even if their foundations and wood components are decayed.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125