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Read This Before Buying a Fixer Upper
Read This Before Buying a Fixer Upper
Whether you're a first time home buyer or experienced with the home buying process, purchasing a house is an exciting time! Taking time to discuss your desires in a home with a trusted realtor will help make your dreams come true. For some, this may be newly built home with extra storage on a limited budget. Others may prefer to purchase a "fixer upper", which requires an open mind and deep conversations. The agents at Choice Properties suggest you read this before buying a fixer upper, preparing you with questions to ask along the way.
Questions to Ask Your Agent
What is the value in this neighborhood?
It's important to keep in mind the area in which you're looking to purchase a fixer upper. Considering your investment in the long run is critical with these projects, as you don't want to get stuck in a house you can't sell down the road.
Is the home located in a historic district?
Purchasing a victorian home to renovate is a dream had by many. Featuring original crown molding, wainscoting, and beautiful stained-glass windows. Your agent should make you aware of this, but homes in historical districts often have to be renovated with an association or to a city standard. This means obtaining approval for projects and updates, which also comes with a price tag.
Questions to Ask Yourself
How is the overall layout of the home?
Although changing the layout is possible, it's also an extra cost along with time added to the project. Considerations for how existing rooms flow and which walls are able to be knocked down to create a larger space should be kept in mind. Make note of the number of bedrooms and bathrooms you are seeking versus what the house currently offers. Will you have to add another bedroom or bathroom?
Do you have the time, patience, and energy for a fixer upper?
Choosing to completely renovate a home is a large project that requires many considerations. Are you prepared for unexpected issues or delays? Asking yourself these questions will help you decide if a fixer upper is truly what you are seeking.
Flipping a house is a big project, but can be done with determination!
Fixer uppers can be great investments in the long run, but require a promised commitment. Ask yourself if you are truly ready for a big project and tackle it head on, creating the home of your dreams! If that answer is yes, it's time to call a Choice Properties agent to discuss the current options on the market!
Choice Properties understands your needs and desires when it comes to the home search. Whether you are looking to purchase a fixer upper or move in ready home, our team is ready to help. You can trust us to help you navigate it with the best real estate agents working for you.
Call us to get started on your dream home search today.