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What You Need To Know When Buying a Fixer Upper

When it comes to looking for a new home, you need to consider an array of vital things. It is important to plan out exactly what you’re looking for your new home to offer. This can vary depending on your budget, the location, and how move-in ready the home is. It is important to first establish the condition you’re looking for the home to be in. Are you looking for something completely move-in ready, due to a time crunch? Or, are you looking for a fixer-upper, that you can craft into your own dream home? Both of these have many pros and cons, which is why it is a decision that should be weighed before starting your home shopping. An important element of this is time and budget! It is essential that you set a specific budget before debating which route you will take, and it is also important to consider how much time you will have before needing to be completely settled in the new home. If you do decide the fixer-upper route is right for you, it is important to prepare for this type of purchase! Fixing up your own home is a great option, but you should be aware of the road ahead of you before committing to it. Here are some important things to keep in mind when in the market for a fixer-upper.

Make sure you are ready to take note of the house’s condition in its entirety. You need to be able to assess just how much time, money, and effort will need to go into making this home yours.

Be on the look-out for the condition of:

  • Structure/Foundation
  • Kitchen
  • Bathroom
  • Flooring
  • Basement
  • Roofing
  • Attic
  • HVAC system
  • Plumbing
  • Windows

Another important thing is to have a home inspector come and check the home out before you make any decisions. The home inspector can assess where the home needs immediate fixing, aside from the visual assumptions you can make yourself. He or she can help you estimate how much money you will need to spend fixing vital elements of the home such as the electrical, plumbing, foundation, sewer-line, gas-line, and any potential pest problems the house may have. Having a building inspector check the home before buying it is crucial! Without a proper inspection, you could potentially be purchasing a home with way more issues than you originally bargained for.

With these tips, you will be able to see how much work your fixer-upper needs and decide if there are any areas that are viable. The beauty of a fixer-upper is that it allows you to create your dream home, without having to build from scratch. You can completely remove the previous owner’s touch from the home, and make it your own. This is what attracts many people to a fixer-upper, as it allows for the new owners to feel that it is something that is uniquely theirs and that they are not living in someone else’s home.

All fixer-uppers are unique and require a careful individual assessment before purchasing. Although buying a fixer-upper can be a bold step, with the proper knowledge and preparation, you can ensure that the process of making it your own is achievable. A fixer-upper can be a cheaper alternative to buying a move-in ready home, and with the proper time, budget, and planning, it can be a satisfying choice. Fixing up your home can leave you with a lifetime of memories that fill your home and make it all the more special to live in.

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