Tips On Buying A Fixer Upper

27 January 2017
 Categories: Real Estate, Blog


When you're looking at homes for sale, there can be a wide range in quality and price points. Sometimes, it's beneficial to find a home that's at a lower price and make it into what you want it to be. If you're considering buying a fixer upper, here are some guidelines on how to find a good deal. 

Focus More on the Unchangeable Parts of the Home

It makes sense that you should spend more energy finding a property that's in a great neighborhood if you are going to invest money in fixing the property up. You can change the cabinets, but you can't change the physical location of the property. Another thing that you can't change as easily is the lot. Look for property with even terrain and a lot that's big enough for any outdoor amenities that you wish to add to the property. 

Get an Inspection Done

It's fairly affordable and easy to fix cosmetic issues with a home. But structural issues can be trickier. Make sure that there is a home inspection on the property that lists any damage or issues with the home. Electrical wiring issues are another one to look out for that could potentially kill a deal. Know how much it would cost to get the home into good structural condition so that you have it as a bargaining chip when you are negotiating a price. 

Research Costs Ahead of Time for Cosmetic Fixes

Some of the common fixes that homeowners add to a property include repainting the walls, swapping out finishes in the kitchen and bathroom, and adding specialty amenities, such as a jacuzzi or a pool. These renovations can be more expensive than you think. Before you buy a home, know what the potential cost of your add-ons will be so that you don't go over budget. Speaking with a contractor is a good idea for getting cost estimations done.

Consult a Real Estate Agent About Your Plans

Finally, let a real estate agent, such as The Soda Group, know what your strategy is. They can keep their eye out for homes for sale that would be perfect for your family with the right added touches. There are so many different ways to locate properties, so it can take some time to go through all of your options. But with a real estate agent on your side, it can make the search more effective.