Is A Fixer-Upper In Your Future?

toolsBuying a fixer-upper might be a dream for you at this point in your life, but it is always to have your feet firmly based in reality. Nothing is as easy as they make it out to be on television or on the internet. Homes are a complex endeavor that often like to hide issues and add money to the project at just a moment's notice. Did you tear out a shower and discover black mold? Or maybe you find that the hardwood floors beneath the carpet are more damaged than you first thought. These costs can all add up and wreak havoc on anyone’s budget. Here are a few things you might want to think about before making a leap to buying a fixer-upper. 
 
If this home is to be used as a family home then there are multiple things that you have to take into account before committing to a project. The location of the property and the type of neighborhood that you will be moving to is an important factor for future resale value. Is the home in close proximity to schools and shopping centers? If the home is farther from an urban center it is important that the property is accessible at all times in all weather situations. If the home is in a desirable neighborhood and you are not able to find a property that is move-in ready then you might need to jump at the opportunity to find a space that you may need to improve upon.
 
If you are looking for that first starter home you may need to do a bit of prediction of the future. Will this property work for a growing family? Do the improvements I want to make have a place in this home? If the answer doesn't match your needs you may have to look elsewhere. Finding a home that you can comfortably grow into or maybe retire to is important if you want to make changes and improve on what the home offers.
 
It is a good idea to enlist the services of a contractor or professional to walk through the home with you in order to give you an idea of the cost and breadth of a full or even partial home renovation. They should be able to tell you if the house has “good bones' ' and whether or not large systems like plumbing and electrical will need to be replaced or upgraded which can put a large dent in anyone's budget. While a home inspection or the help of a professional may not always show hidden issues it/they can give you a good base of information.
 
With any renovation you need to be flexible with time and to a certain extent money. Depending on other people to do work in your home can always come with problems. Court shows are full of people debating issues about home repairs. Be sure to have a good quality professional along with a clear contract. Also consider that some of this work may be completed by you or a handy family member that is willing to help. While there may be simple jobs that you can do it is important to leave the jobs meant for professionals to the professionals. 
 
When purchasing a fixer-upper you need to be sure that the cost of the home plus the renovation will not take you too far to the edge. You don’t want to be in the hole when it comes to finances after everything is said and done. If the numbers don’t quite work then you may have to either walk away from the project or perhaps find ways to live without some upgrades until the time comes when you can tackle that project. 
 
If you are interested in finding that home that fits your needs perfectly then look no further than the great agents we have working here at C21 Hot Springs Village Realty. Find out what the largest gated community in the United States has to offer to you.