If you’re considering making a move, you may have thought about the possibilities of purchasing a fixer upper – and for some, going this route can provide you with a great deal of opportunity, such as obtaining the home at a reduced price, as well as renovating it to fit with your specific tastes.
But, given all of the extra time and money that major renovations can require, is this really the best way to go?
The answer is, that depends.
In fact, it actually depends on several key criteria, starting with how much the renovations will really cost you, as versus the bargain price that you can purchase the property for. As an example, in many instances, even the most carefully chosen fixer upper home will only be considered a bargain if you are able to do all – or at least most – of the necessary labor yourself. Otherwise, you could be standing in the doorway with your checkbook open and handing out hefty checks to a long line of contractors.
In order to get a true assessment of just how much a home will cost to fix up – even if you do the work yourself – it is always a good idea to perform an inspection first. That way, you will know more about the needed repairs that can be seen, as well as those that can’t be.
For instance, while you may be easily able to notice peeling paint and outdated wall paper, what you can’t see – such as poor wiring, foundational issues, and / or a damaged roof – may end up costing you quite a bit more than what you bargained for.
Planning to make a move soon in the Bakersfield area? If so, then give us a call. We can help you to find that perfect home, as well as provide you with a no obligation value assessment of your current property.