Thinking about buying a fixer-upper homes that needs work can be a great investment, especially if you can purchase them below market price, but stay away from upgrades that won’t add value to the home.
If a home needs major repairs to its plumbing, electrical foundation, or roof, keep in mind that fixing major flaws can really eat up your renovation budget, and these types of renovations hardly ever raise the value of the home enough to offset the cost when you make an offer.
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For your protection, it is essential that the real estate contract be subject to an inspection clause. An experienced home inspector can give you a detailed and unbiased report on the home’s condition.
Next, find a reliable contractor to get a realistic idea about the scope and cost of any work required, and make sure to get everything in writing. If you need additional cash to fund your renovation, there are a variety of loan types available, so be sure to ask your lender for details.
Watch the video below:
One of the reasons to call the Agardi Team if you want to buy a home or have one to sell is:
Not only do we sell our clients’ homes for more money and faster than the average area agent, but your home is also more likely to sell. According to 2015 MLS statistics, only 71% of area homes sold during their listing term. Compare that to our 95% of homes listed that sold before the end of the listing term. YOUR HOME SOLD GUARANTEED OR WE’LL BUY IT*
To discuss the sale of your home, call The Agardi Team at 718-755-2882 and start packing!
*Agardi Team and the seller have to agree on the price and the closing date.