When I became a real estate agent, I was unprepared for the number of people that had unrealistic expectations for their new home. Instead of sticking with a budget and searching for a modest place, many of my clients stretched their limits, only to be disappointed with what they could really afford. Unfortunately, that reality check takes a lot of time, which can be frustrating to any agent. I want to teach people how to help out their real estate agent. In addition to making their job easier, it can also help you to find the right house sooner than you would otherwise.
A fixer-upper is an excellent way to save on your next real estate purchase, especially if you are the type of person that actually enjoys taking on in-depth DIY projects. Unfortunately, not all fixer-uppers are created equally. There are some problems you should avoid because the headache and cost of repairing them far outweighs any savings on purchase price. The following are a few things to watch for.
#1: Foundation woes
Any home is only as strong as the foundation it sits upon. This is why it is vital to have the foundation inspected before closing on the deal. Major cracks, leaks, and shifting soil are all red flags that something major could be amiss. Jacking up the house to replace or repair the foundation is a very time consuming and expensive proposition – and it's not something you can do yourself. Unless there is another reason to love and invest in the house, such as historical value, a bad foundation isn't worth the investment.
#2: Extensive pest damage
This isn't about a small rodent infestation or a couple of dog urine stains on the hardwood floors. Extensive pest damage usually means ripping the house down to the frame – pulling out flooring and carpet, wall boards, and even subflooring due to extensive insect, rodent, or pet damage. At this point you are starting over with the unfinished frame of a the home. If termites were the cause of the damage, you may even need to replace some of the framing. In this case, it's best to write off this home as a loss and to keep looking.
#3: Structural water damage
There are two main places where this occurs – the roof and in the bathrooms. Major leaks that go unchecked lead to mold and rot. Normally this is a surface issue that can be repaired with a new roof or maybe some wallboard and flooring in the bathroom. In acceptable but severe cases, you may even need to replace some insulation in the roof. The problem is when the mold and rot has spread to main structural supports, such as supporting wall studs, flooring joists, or ceiling rafters. At this point it can become highly expensive and time-consuming to replace the vital parts of the structure.
For more help in picking out the perfect fixer-upper for your DIY dreams, contact real estate agents in your area. They can help you sort through the homes on the market so you find the perfect one with no regrets.Share
27 May 2016