Fixer Upper Homes For Sale

By
Real Estate Agent with Home Smart Evergreen Realty Calbre Lic 01200694

 

When you’re shopping for a new home, it’s not uncommon to face a little bit of sticker shock when it comes to price. This often leads to buyers trying to find a good balance between what they want and what they can afford. However, if you’re smart (and maybe a little lucky), you may be able to find some really great deals if you know what to look for.

One of the keys to finding a good deal is to look for properties that have qualities that might seem unappealing at first but that can be corrected fairly easily. Some of these things can drive prices down significantly but won’t require a major renovation to fix. If you’re hoping to find a bargain, here are a few things to look out for.

 

Ugly Paint

Even though there’s a lot of damage that can make your paint look ugly, sometimes the paint is just ugly because someone chose to bring together colors that should never coexist. It could be awful colors, it could be cheap paint that’s faded over time or it could even be an amateur paint job that never got touched up. Regardless of the reason for the ugly paint job, it can drive the price of the property down by thousands or even tens of thousands of dollars. It doesn’t even have to be the entire house; one ugly room can give you an opportunity to find a good deal on an otherwise nice property.

 

Landscaping Issues

A property’s yard is one of the first things that potential buyers see. If it’s obviously been neglected or has bald patches and overgrown flower beds, this can make a negative first impression because it suggests that the house itself might not have been taken care of either. That isn’t always the case, though. Even if the house is in good condition, a yard that needs some TLC can usually shave some money off the asking price and help you to net a great deal.

 

Fixtures and Accents

There are a lot of cosmetic elements in houses that can start looking rough over time. Handles and knobs can come loose or become tarnished, shutters can get loose, bathroom tiles can become cracked… the list goes on. While updating these issues won’t break the bank, many sellers will drop their asking price quite a bit due to how these little things make the house look.

 

Bathroom Concerns

A lot of buyers shy away from houses that have obvious bathroom problems, causing those sellers to bring the price down significantly in many cases. Depending on the extent of the issues in the bathroom, though, there could be a real opportunity here. If the problem with the bathroom is mostly cosmetic, then you may be able to fix it on the relatively cheap side and save a lot of money in the process. Just be sure to keep an eye out for signs of water damage or mold, since that could indicate problems that would be much more expensive to fix.

 

Previous Foreclosure

One other strategy for finding a deal is to look for bank-owned properties that were previous foreclosures. These properties are often sold at a discount because the bank isn’t necessarily trying to sell the house at market value, it’s simply trying to recoup the money it lost when it had to foreclose. The amount you can save will depend on both the bank and the amount of equity that was in the home when it was foreclosed, but you may luck into a great deal on a nice house this way. Just be aware that while there are legitimate programs that can help you find a foreclosed property, there are also some scammy ones out there as well.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Groups:
Active Rain Newbies
Blogging & SEO
Dedicated Bloggers
Addicted to Active Rain
Hyper-Local
Tags:
repairs
price
fixer uppers
cost
what to look on a fixer upper

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
501,816
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

Great tips on a fixer. More and more people are driven to buy homes to fix and some to flip.

Dec 19, 2019 07:53 PM #1
Rainmaker
3,185,588
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information thanks for sharing.  Those looking to flip or invest should read this.

Dec 21, 2019 02:43 AM #2
Rainmaker
247,958
Alberto Pacheco
Home Smart Evergreen Realty - Northridge, CA
Experience and Trust

thank you Rose. I wish you a prosperous 2020

Dec 30, 2019 12:05 PM #3
Rainmaker
247,958
Alberto Pacheco
Home Smart Evergreen Realty - Northridge, CA
Experience and Trust

you're right Richard. Have a prosperous 2020

Dec 30, 2019 12:06 PM #4
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
247,958

Alberto Pacheco

Experience and Trust
Ask Me About San Fernando Valley Real Estate
*
*
*
*
Spam prevention

Additional Information