I can’t believe I have yet to write about this topic – it is one I am particularly excited to talk about! A little background as to why and a little fun fact about me to go with it! I am currently in the process of renovating my own fixer upper with my boyfriend to move into! So exciting I know, it has been a crazy fun project for the two of us and such an exciting way to start building some equity! We have taken on a quite large project with our fixer upper – 2 dump runs, new bathrooms, new floors in the entire home, drywall and paint, kitchen renos, you name it we are probably doing something with it. Having experienced this all first hand and in real time I wanted to share this approach with you all and help guide you through what to look for and what to watch out for!
Disclaimer: I know that a fixer upper isn’t for everyone and I am by no means an expert when it comes to home renovations so today will simply be coming from a Realtor’s perspective when looking at a fixer upper. First and foremost – determine how much of a project you are wanting and/or able to undertake. Is it purely cosmetic, ripping it right down to studs or somewhere in between? From here we can determine budget, how much are you wanting to spend on the project all in? Here is a fun little fact you may not know about – you can sometimes roll some of the costs of your renovations into your mortgage – talk to your mortgage agent about this option if it is something you are considering to see your qualifications! There are also incentives for different improvements and upgrades that you can get money back from – windows and doors that improve energy efficiency are pretty common one.
Now we get to go and look at homes! What exactly are we looking for when walking through a fixer upper? Well a lot of the same things that we would if you weren’t buying a fixer upper. Anything that may seem alarming that does not fit into what you are wanting to do to the home. Bigger ticket items like foundation and structural issues, water issues, electrical, plumbing, heating systems concerns. Fixer uppers tend to be older homes and a home inspection is highly recommended. I am not a plumber or an electrician and your Realtor likely isn’t either so we leave diagnosing these sorts of issues up to the people who are! A home inspection condition will allow us to have the right people with the right knowledge come look at the home and ensure that everything checks out and any issues can be made apparent. When purchasing a fixer upper it is my goal that my clients love the home, that the home fits into their vision of what they hope to turn it into and that any issues are disclosed prior to them securing the home to minimize the surprises as much as we possibly can.
Now the fun part! Happy renovating! For article suggestions or questions about Real Estate feel free to contact me anytime – 226-232-4236 or il**************@***il.com.