Fixer Upper Fundamentals You Need To Be Aware Of

August 14, 2019 in Products We Love

Image source

If you are tempted to buy a fixer-upper to transform into your dream home, you need to be aware of the potential pitfalls. Sure, a fixer-upper is a fantastic way of purchasing a cheaper property that you can then put your own stamp on. But, there are also a whole host of nasties that could potentially come along with it. Consider how much of a fixer-upper you want. Are you happy with a fully derelict shell of a building with structural defects or is a house that needs modernized decor as far as you’re willing to stretch. Fixer-uppers are becoming a more popular buy for those discerning homeowners that want to make money on their bricks and mortar. Read on to find out about the fixer-upper fundamentals that you need to be aware of.

Structure

Fixer Upper Fundamentals You Need To Be Aware Of

If you buy a fixer upper house, make sure you pay for a survey first. While this is money that you need to fork out prior to your purchase, it could save you a small fortune in the long run. If a property has subsidence or heave, the foundations will need repinning. This can cost a huge amount of money and could leave your home unmortgageable. The survey cost will seem like a drop in the ocean compared to how much money it can save you. Structural issues don’t have to put a halt on your property purchase, but they can be good leverage when you are negotiating the purchase price. Get the home for the right money, and you could still be onto a profitable purchase.

Security

Sometimes fixer uppers have been in a sorry state of repairs for years. This means you might have unwanted guests frequenting you pad. Whip up some home security such as an alarm and CCTV as soon as possible and make sure that your new pad is well lit at night. This can make any would be thieves, squatters or reprobates less likely to make your fixer upper their place to settle down for the night. As you begin working on the property, the chances are these unwanted residents will move on. Keeping your assets secure is vital for any home, but more so when you purchase a fixer upper.

Location

Just because a fixer upper is ridiculously cheap doesn’t mean that it is a good buy. You need to focus on the sort of location you want to live in. Try and hunt out the worst house on the best street. You can always change the exterior and interior of a home, but you can rarely alter its location. That up and coming area may have been up and coming for the past two decades. Instead opt for the location that is well established, highly regarded, and has seen property price increases for the past five years running. A fixer upper in this location is a sure fire bet to increase in value and provide you with a chance to outperform the housing market.

Buying a fixer upper can be perilous. However, by using your own common sense, gut instinct and by following this guide, you can be sure of a superb blank canvas from which to create your dream family home.

The opinions expressed here are that of Hello Betty only. While the products in this post were given complimentary for posting purposes, that does not alter our opinion of the product mentioned. Some posts may contain affiliate links. If you have any questions email hellobettycompany@gmail.com

About Me

About Me

Jaclyn Dryden

Welcome To Hello Betty. My name is Jaclyn and I am the owner of this little slice of the net. I adore chatting about home decor, food, cooking, recipes, and tech. Join me on my little adventure. Read More

Jaclyn Drdyen

Host An Amazing Party With Canary & King

Host An Amazing Party With Canary & King
gift guide books
CBD gift guide

Featured

Holiday Gifts For travelers
×