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Reno Fixer-Upper Tips: Avoid the Money Pit
The Reno housing crunch is expected to continue through 2019. And the median sale price for a Reno home hit an all-time high of $355,000 in November 2017. So, your sights may turn to buying a fixer-upper as an option. These are still hard to find in today's market. However, when you do locate one, heed these Reno fixer-upper tips to create your dream home rather than buying a money pit.
Reno Fixer-Upper TipsWorst House/Best NeighborhoodAnyone who's a fan of those HGTV fixer-upper TV shows knows that the #1 rule of buying a fixer-upper is to look for the worst house in the best neighborhood. Why? For one thing, location. You can tear down walls, add rooms, paint and powder to your heart's content. The one thing you can't change is where your Reno home is located. A desirable neighborhood brings in higher comps. Higher comps give you something to work with budget-wise for your Reno fixer-upper. 
Keep your spending to around 20-25% under the cost of similar homes in the area that are in good condition. Only compare homes similar in size as well as the number of bedrooms and bathrooms. This gives you a good sense of what you should spend on the sale price and any ... more

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