Purchasing a fixer upper is a major decision that can turn into a great investment or a financial burden. It’s why most people stay away from these types of properties. However, if you have a keen eye, you may be able to transform a residence into a humble abode anyone would want to live in, including yourself. Whether you’re interested in fixer uppers for the profits or to move into, you will find the following information to be worth your while. Just make sure you have a contractor on standby who has a great track record for indoor and outdoor remodeling.
First Thing to Build – A Remodeling Team
You don’t want to go into fixing up a home without first putting together a solid team of remodeling professionals. You will need a general contractor, realtor and a great home inspector. The real estate agent will help you find various properties and the inspector will evaluate the properties to determine what’s needed. The general contractor can provide quotes for the repairs and aesthetic upgrades. In the end, this will give you everything you need to make an informed decision before buying a fixer upper.
Things You Need to Consider
How can you tell whether a fixer upper is worth your time and money? There are various aspects you want to consider when making this decisions. You’ll need to identify how much work is needed and the cost. The most important areas of the home that require thorough inspection include the following:
- The roof and siding: If you’re planning to resell, then curb appeal is a must. Plus, you want to ensure drafts and leaks aren’t getting into the home, causing mold, pest issues and rot. Check for initial signs of water damage and loose boards.
- The foundation: If the foundation