Buying a Fixer-Upper: What You Need To Know

Four Things to Consider Before Buying a Fixer-Upper Home

You’re likely aware of how expensive the home-buying process is. However, if you’re willing to put in the work, purchasing a fixer-upper home can allow you to get a home below market price. Before you pull the trigger and commit to a fixer-upper home, make sure you know these four aspects.

1. Examine the Location

Perhaps one of the most important aspects when buying a fixer-upper home involves the location. Try to avoid purchasing one at a busy intersection or near undesirable locations. Look around for up-and-coming neighborhoods and find homes that need some transformation.

2. Check the Home’s Layout

Once you find a home you’re interested in, you need to focus on its layout. Most potential homebuyers want a home with at least three bedrooms and more than one bath. While a two-bedroom home will also work, a three-bedroom one will stand out. The home’s layout should also flow well.

3. Get a Home Inspection

While you should always get a home inspection when you purchase a home, it’s vital to get one with a fixer-upper home. Hire a credentialed home inspector before committing to the sale. Make sure the inspector looks at the roof, sewer lines, the electrical, and plumbing areas.

4. Know What You Can Do Yourself

It’s no secret that doing your own home renovations can save you a bunch of money. Contractors can be expensive, but you should also know your limitations. If you’re handy or have some close family or friends who are, determine which projects you can complete for yourself. You might need to outsource more difficult tasks that involve electricity.

A fixer-upper home can be a smart choice if you’re looking for a discounted home that needs a little work. Before you decide to purchase the home, make sure you’ve done your homework and then reach out to a trusted real estate professional to help you find one.

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