What You Need to Know Before Buying a Fixer-Upper

Before you begin your house-hunting journey, you should consider buying a fixer-upper. Over the last decade, it has become more common to purchase a home that requires a makeover rather than a brand new, cookie-cutter home. Fixer-upper homes are a great option if you find a home in your desired location, but it isn’t quite up to your standards or style yet. At times, fixer upper homes are a great choice if you are on a tight budget, but you will have a lot of work to do before moving in. Keep these tips from our Denver movers in mind before buying a fixer-upper.

Is It Worth Buying a Fixer-Upper?

The most important question to ask yourself in this process is if it’s worth buying a fixer-upper. Purchasing a home is a huge financial investment. Between buying a home and the amount of work you may need to put into it to ensure you have a return on your investment, you will want to ensure you are making the right decision when buying a fixer-upper. There is an overwhelming amount of information out there regarding fixer-uppers. Thankfully the dedicated residential Denver movers are here to help break down any confusion you may have.

Location Is an Important Factor

One of the most important factors to consider before buying a fixer-upper is the location. While you may get a good deal on an older, outdated home, the neighborhood could be problematic, which is a contributing factor to the low property value. Make sure you do a lot of research ahead of time to better understand the neighborhood and community. When researching your future home, think about the things that are important to you such as school districts if you have kids (or if you’re a teacher), shopping centers, restaurants, parks, crime rates and more. Just remember, you can always give a home a makeover but you can’t change its location.

Create a Budget that Includes Cost of the Home & Potential Renovations

Once you decide to invest in a home that may need a little extra love, you need to establish a complete budget that includes potential renovations. Research the prices of homes in your ideal neighborhoods to help you determine a more realistic budget. The asking price of a home and the amount of money you can spend on renovations go hand in hand. If a home is on the higher end of your budget but it’s in better condition, it probably won’t require as much of a financial investment in renovations. On the other hand, you might get a great deal on a home, but it needs a complete overhaul, so a larger portion of the budget would be reserved for renovations. These are the kinds of things to keep in mind as you’re house-hunting fixer-uppers. One major issue can really set you back, but minor problems can quickly add up as well if there are too many, not to mention unexpected complications that can arise like faulty plumbing you discover when you’re replacing the flooring. Anticipating these setbacks and budgeting for them can help keep you on track financially.

Complete a Thorough Inspection

The most important step to buying a fixer-upper is to complete a thorough inspection. To avoid any problems when renovating your new home, you need to get the home inspected by a professional. Once you hire a trusted home inspector, they will be able to assess electrical, plumbing, sewer, air conditioning and heating systems as well as the roofing, foundation, and any other extensive work necessary throughout the property. Our long-distance Denver movers strongly suggest you schedule a home inspection before you close on the new house.

Our moving experts hope you feel more comfortable buying a fixer-upper with our tips and tricks. We wish you the best of luck on your home improvement projects. Please call our moving company today to learn more about our resources.