Advice for a fixer upper home?

Hi Joanne your yard is beautiful I need advise how to buy fixer uphome

  3 answers
  • Dfm Dfm on Jun 20, 2018
    most fixers are bank owned at least in my area and are occasionally auctioned off. Work with a realtor to find your fixer. Have it inspected before purchasing. Some repairs are doable others like electric plumbing duct work are best left to pro’s

  • Do your research before jumping in with both feet. Rehabbing houses is not easy. Many people go bankrupt because they get in over their head. While it looks easy and oh so glamorous on TV, what you don't see is what really counts. Permit problems, budget problems, supply problems, building codes changed, structural problems, you name it. My dad was a GC and my ex hubby rehabs houses for rentals and eventual sale. You need excellent credit, deep pockets, a bevy of top notch contractors or be an avid, savy diy'er that knows the ropes. Tools are expensive and if you have to rent them, there goes part of your project profits. If property is financed, you need to carry insurance and construction policies, I could go on and on . . . TV is extremely misleading and while you can learn a good bit, there is so much going on behind the scenes that you really need to educate yourself.

    Please do not take this in a negative light, I just would hate to see people lose their hard earned savings just because they thought it was easy or did not know better.

    See if these links help you out!

  • 27524803 27524803 on Jun 20, 2018
    Only consider buying a fixer home...if you have the DIY skills to do a great deal of the work.... drywall, painting, tile installation, flooring installation, wall tear down and or framing, landscaping... Having someone else do the work for you will greatly effect the costs... Things like electrical, plumbing, roofing, HVAC should all be done by a professional.
    Make sure you have a comprehensive home inspection... to alert you to problems that might be hidden to normal visual conditions.
    If you are not capable of doing much of the work yourself... consider the costs of having the work done by a Contractor or Home Professional...
    Before you decide to buy... Make a list of the things you want to change about THAT house... and what things NEED to be fixed... new roof, take out a wall, redo a bathroom(s), re-orient the kitchen, add a bathroom, etc...take a tour with a Contractor and determine what work you WANT to do... and work MUST be done... and get an estimates of what each item on your list will cost... and what problems you might encounter.... will you need to update wiring or plumbing, augment floor joists, etc...
    Finally... consider the cost of renovations, add a contingency fund to cover surprises.... or can help you find review checked, reference verified Home Pros and contractors .