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Foreclosed Property Moves – Storage Space

The recession has forced many homeowners into foreclosure. Bank repossessed properties now flood the market, creating opportunities to buy real estate at historically low prices. But buyers beware: the distressed market also means that property sales can go awry.

Before you even begin to think of packing your things for a potential move, consider the following:

• Keep to your budget and don’t be tempted to take the first good deal that comes your way. Ask yourself not only whether you have enough to buy the property, but also whether you have enough to take care of any home improvements the house may need.
• Visit the property yourself and take a look around the neighborhood. Think twice about moving into a home that’s surrounded by vacant lots, other foreclosed homes or is in a high-crime area, as these factors will lower the resale value.
• Remember that the longer a home has been vacant, the more repairs it will likely need, such as roofing work, or kitchen or bathroom remodeling. Also bear in mind that insect populations grow over time, which increases the possibility of structural damage to the home.
• Check for leaking pipes: water damage can cause mold to form in the walls of a house, and is usually very expensive to fix.
• Get the house inspected before you buy. It may cost you a little money, but the results could save you from investing in property that will become a serious financial liability.

Staying aware of the potential pitfalls foreclosed properties presented to new owners will help you get a better deal while sparing you the trauma of surprise costs. When you do find a home that’s just right, Lone Star Self Storage can make your moving day easier. After all, you never know when having a little extra pre- or post-move space for your belongings will come in handy!

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