The right fixer-upper home is typically one that everyone wants to fix but only a few can see its potential past its defects to purchase. A peeling paint, sagging ceiling or worn carpet turns off homebuyers. Most buyers could not see the probability of the home past the disarray. Most homebuyers opt to buy a pristine home and one is ready for occupancy.
Purchasing this type of home can prove to be a nightmare, along with a series of unforeseen disasters, or could be a profitable real estate investment. The secret is in selecting the fixer upper home to buy and have it thoroughly inspected. Below is a few list of what you should look for in buying a fixer upper home.
1. Consider the location of the home you are planning to purchase. Avoid buying a home that is next to a school, located across a power plant and located in a busy street. Look for a fixer upper home in pleasant neighborhoods. Make an observation of the other homes nearby and be alert on how the homes around are maintained.
2. The perfect fixer-upper property is one that is appealing to the largest number of homebuyers. For instance, a three-bedroom home is more preferable than a two-bedroom home and has two or more bathrooms.
3. If a home is in a bad layout, it could be more expensive or excessive to move the walls. The layout of the home should have an easy flow. Bedrooms at opposite home ends are a turn off to homebuyers with young children, as well as bedrooms located in different floors. An ideal home is one that has more than one kitchen entrance. Many homebuyers dislike a dining room that serves as the focal point, which could be accessed by the other rooms in the house.
4. Take into consideration your knowledge and if you are willing to handle a home that requires major repairs or upgrades to make it more liveable. Minor home upgrades are less costly and affordable.