It is not an easy task to buy any type of a home. This is attributed to the fact that the wrong decision can land you into problems. It is important to consider a few elements. As such, the only secret in avoiding the impending series of disasters associated with buying the wrong house is to choose your preferred fixer upper home appropriately. The good thing about buying a fixer upper is the fact that its price does not depend on the common aspects such as the real estate market temperatures. This article offers a comprehensive guide on how to buy the right fixer upper home with ease.
What is an ideal fixer upper home?
The ideal fixer upper home describes a home that when repaired and maintained, everybody will be yearning for it. For example, it describes a home that has issues such as sagging ceiling, peeling paint, and worn out carpet. Even though such aspects tend to put off most buyers, if the home is fixed, it can rank among the homes that are ready for occupancy.
Factors to consider when buying a fixer upper home
The following are some of the factors that should help you buy the ideal fixer upper home:
· What is the home’s current condition? You do not just buy any home because it is described as a fixer upper. It is important to consider its condition. Is it in a state that you can fix with ease before it is habitable? Choose a home that will not eat much into your budget or even require major improvements.
· Where is it located? Location is an important aspect when it comes to real estate. It plays a significant role in improving the sale value of any property. As such, when buying a fixer upper home, choose a desirable neighborhood as such a location will improve the value of the home after you have fixed it.
· Design and layout: Do you love the design and layout of the fixer upper home? Often, the ideal fixer upper home should offer flexibility to change its design and layout. However, where a bad layout or design is involved, it makes it hard and costly to move the walls.
It is recommended to hire an experienced home inspector to check the state and value of any fixer upper before you buy it. Such inspection gives you a clear overview of the state the house as far as its habitability is concerned. Usually, many aspects of a fixer upper home need inspection. Here are some important inspection questions to ask yourself:
· Does the home have a warranty?
· Is the home infested by pests?
· Are the sewer lines and associated components working properly?
· How secure is the home against geological and natural hazards?
Buying a fixer upper home may sound like the best way to own a home but it comes with a lot of careful consideration. Prior to committing to any home, it is important to evaluate the possible cost of repairing and maintaining the house, as well as to ensure that the home is inspected for safe habitation.