Homes That Need Work

By
Real Estate Agent with Keller Williams Ottawa Realty

One if the Ottawa Real Estate Questions I often get asked is "do I know of any Ottawa Homes That Need Work ?" for sale ? Well my answer is that MOST Ottawa homes need work ! In fact if you own a home, it needs work !

Flippancy aside, there are two categories of homes that need work, 1) Homes that need to be updated with a fresh coat of paint, perhaps tired carepts replaced with hardwood floors, ceramic instead of vinyl in the foyer, a new liner in the shower , I call these "cosmetic changes" , but then you get homes that need work that involves a much larger expense such as a totally updated kitchen and new bathrooms, moving walls around, building on new rooms or additional garage space or building a new deck plus perhaps all of the above mentioned "cosmetic changes".

Then there is the question of "are you doing these renovations  to these homes that need work for your own personal pleasure or are you doing these renos to try and "flip" the home ? The answer to this depends on the quality of materials you will use and the type of monetary investment you will make to these homes that need work . 

Whatever your reason, "fixer upper" homes are always fun to buy, work on, live in and or sell.

For a list of these homes please visit my website and order your free list at http://www.ottawarealestatequestions.com/vip_buyer.asp

 

Posted by

Lara Kaplan

Comments (6)

Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I specialize in fix up homes. I work with a General Contractor to fix and flip homes. Great stuff

Apr 09, 2010 01:46 AM
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Lara,

Sometimes, the costs of the renovations can price the home out of the market. Usually, with a flip, the changes are modest, and it simply appeals to a different type of buyer.

Brian

Apr 09, 2010 02:31 AM
Janice Ankrett
Burlington, ON
Staging Professional

Lara, I see these types of homes often. From turn of the century to 50's to 70' to 80's homes they all need some kind of 'work'. I try to help the sellers show the positives to the buyer. I help them with paint, flooring, taps, lighting etc. By updating areas they can help the buyer envision the way the home could be or at least make it look livable until the renos are done.

If sellers do nothing they narrow their market appeal to those with vision and flippers.

Personally I have always liked improving homes I have bought.

Apr 09, 2010 03:30 AM
Fred Carver Personal Real Estate Corporation
RE/MAX Camosun Victoria BC Real Estate - Victoria, BC
Accredited Real Estate Consultant

Hi Lara...we Get the Same Question in Victoria, it usually means can you find me a cheaper house

Apr 09, 2010 04:08 AM
Terry Chenier
Homelife Glenayre Realty - Mission, BC

Lara,

If you're flipping, cosmetics only. Major stuff, stay away from it.

Apr 10, 2010 11:46 AM
Capital Junk .ca
Capital Junk Inc - Ottawa, ON

We see so many different kinds of renovations, when we're called to come in to clean up the old drywall, tiles, and other various renovation waste.  It's great to see all the different kinds of improvements that people do, but absolutely, it's easy to see when they're just working on the basic cosmetic for hopes of re-sale, or whether they're working on making their current home into their dream home!

Apr 20, 2010 01:32 AM