Hello Dan The Real - Real Estate New You Can Use..
Is this email not displaying correctly?
View it in your browser .
Dan The Real Estate Man
Dan The Real Estate Man
REALTOR
(562) 618-4993
DanSellsRealEstate@gMail.Com
Century 21 Classic Estates
13217 South St.
Cerritos, CA 90703
Friend Me on Facebook Follow Me on Twitter Connect with me on LinkedIn
HomeViewers.Com
ProbatePropertyAsst
Home Selling Tips
What Is My Home Worth?
Share Save

Smart Tips for Buying a Fixer-Upper

 

Fixer-uppers can be diamonds in the rough, or they can be huge money pits that swallow up all your hard-earned dollars. You will have a better chance of making a success of it if you follow these 10 smart tips for buying a fixer-upper.
 
First, let's start with what to look for. Granted, depending on why you are buying a fixer-upper (to rehab and turn into a rental property or to live in), different properties will look appealing to you. Here are the five basic things to look for in a fixer-upper.
 
No. 1: Space
 
It's a fixer-upper, which means you are going to get more house for less money. Don't buy a shack to fix up. The beauty of buying a fixer-upper is that you can find what used to be a mansion dirt cheap if you are willing to put in the work to fix it up. Look for spacious fixer-uppers.
 
No. 2: Large yards
 
Many fixer-uppers you'll find are situated on top of a lot of outdoor space with huge yards in front and back. It may just be too much work to get the home livable for most other buyers who want the yard but not the headache of fixing up the house. That's perfect for you if you are willing to put in the work to have a lot of useable land.
 
No. 3: Good location
 
Finding a fixer-upper in a good location that someone else hasn't already thought to snatch up can be hard to do. One thing you want to be sure of when buying a fixer-upper is to find one with a good location, especially if you plan to resell. You don't want to spend thousands of dollars on a home that's too far out for anyone to want to buy.
 
No. 4: Good "bones"
 
As long as the foundation is good, almost any fixer-upper can be brought back to life. If the structure is bad — such as bad plumbing, wiring, floorboards and roofing — fixing it up is going to be an enormous expense. Go for fixer-uppers with good bones.
 
No. 5: Major systems are intact
 
If after you buy a fixer-upper you have to install an entire HVAC system or you need to completely rewire the house for electricity or cable, it can end up costing you tens of thousands of dollars before you even begin remodeling. Updating major systems is one thing. Replacing and installing all-new major systems is whole different ball of wax.
 
5 things to avoid
 
The opposite of all of the things to look for are things to avoid when buying a fixer-upper. Here are just five things to avoid:
 
No. 1: Structural damage.
No. 2: Foundation damage.
No. 3: Rundown neighborhood.
No. 4: Lack of utility and cable access.
No. 5: Liens and encumbrances.
 
Buying a fixer-upper can be a truly rewarding experience. However, if you are not careful, it could turn into a nightmare. Follow these tips to find the fixer-upper you've been dreaming of. For more helpful tips for buying and selling your home, contact me anytime.

 
Share Save

Your Comments

Saved Articles
Comments and Feedback
Refer A Friend
Your Privacy
Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
Powered by
Copyright © HomeActions, LLC All rights reserved.

This email was sent to: dansellsrealestate@gmail.com

Mailing address: , , ,