Do it right and within your means...
There is no doubt a fixer upper can be a great deal; but, it also has the potential to bring many disasters. The secret is to choose the right fixer upper to begin with.
Fixer uppers are typically below market value and they can be a good buy in any type of market. A few of the advantages in purchasing a fixer upper includes:
- Lower sales price
- Potential for resale profit
- Less competition
Fixer uppers can be a profit gain from the moment you close the deal. When you shop for a fixer
upper, you need to look past the repairs, and visualize it fixed up. The perfect fixer upper will be one
that everyone would want once it is fixed up.
What to Look for in a Fixer Upper Home
Location: Location in any home is important. Find fixer uppers in desirable neighborhood that are
in a good location within the neighborhood. You don’t want a home next to the school or on a busy
street and so on. Check out the neighborhoods, the homes around the home, the cars parked on the
streets, etc. Take a look at how well the neighbors care for their properties. If the area is run down,
then you likely won’t get the resale you desire once the home is fixed up.
Configuration: The ideal fixer upper to purchase is also one that will appeal to the highest number of
buyers. Think of the majority of buyers criteria in a home, and try to find a fixer upper that will have
the most number of buyers interested in it once you have fixed it up.
Layout: The layout of the home should be one that is comfortable. A good layout should be a focus.
Condition: When you shop fixer uppers you need to have determined a few things. First, will you
be doing the work yourself. If you plan on doing the work yourself then you want to ensure that you
have the level of skill to fix it up. A major rehab may be over your head, whereas, you may be able to
handle minor cosmetic improvements just fine.
Easy Fixer Upper Repairs
- Adding a deck
- Painting the interior / exterior
- Changing out light switches, receptacles
- Replacing doors
- Installing new cabinets or painting the cabinets
- Replacing bathroom subfloors
- Fixing broken window
- Replacing baseboards
- Installing ceiling fans
- Refinishing floors
- Patching walls
More Expensive Fixer Upper Repairs:
- Building garage
- Kitchen or bath remodels
- Installing replacement window
- Pouring concrete
- Replacing plumbing
- Shoring up foundations
- Replacing HVAC systems
It is always advised to get an inspection performed by a licensed home inspector before you purchase any home.
There are various types of inspections that you’ll want to consider.
- Roof certifications
- Home warranty
- Pest inspections
- Sewer line inspections
- Home inspections
- Engineering reports
- Natural hazard
By working closely with me as your Panama City Beach Realtor, I will help you avoid these mistakes and others. You and I will work together to make sure your next home purchase will be a stress free, dream home for you and your family.
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Our blog includes local and relevant national real estate information, Condo and Home market statistics, personal and professional insights and information about various neighborhoods, subdivisions and listings. If you would like additonal information on any of our topics, please contact me directly and I will be glad to assist you.