$15,000 3 beds, 2 baths…See more

The “Three Beds, Two Baths” Description Doesn’t Tell the Whole Story

Three bedrooms and two bathrooms sound attractive.

But square footage matters.

So do the age of the home, foundation condition, roof, heating system, electrical wiring, plumbing, windows and insulation.

A house can technically contain three bedrooms and two bathrooms while still requiring tens of thousands of dollars in repairs.

The number of rooms is only one small part of the equation.

Renovation Costs Can Change Everything

Suppose someone purchases the house for $15,000.

That doesn’t necessarily mean they will own a home for $15,000.

If the property needs a roof, heating system, electrical upgrades and extensive plumbing work, renovation expenses can quickly exceed the original purchase price.

There may also be costs for permits, inspections, insurance, property taxes and debris removal.

This is why experienced buyers don’t simply ask:

“How cheap is the house?”

They ask:

“How much will it cost to make the house usable?”