State Wide Answers: What's A Fixer Upper?
There's an old saying that one man's trash is another man's treasure, the same could be said about the condition and "fixing" a home needs. The term "fixer upper" has a broad definition these days to mean anything from structural repair to changing of paint color. Who would have thought that there would be a time when a home on the market for a million dollars would be considered a "fixer upper"?
In general, a fixer upper is a home that needs work to update key components such as electrical, plumbing, foundation, walls etc. to meet the new codes and regulations or to restore to good repair. In other cases the term fixer upper is used to mean updating of "cosmetic" issues like paint, light fixtures, countertops to match your desired taste and style.
There are numerous shows depicting the ups and downs of "fixing up" a home and ultimately like anything you do, you get out of it what you put into it. The pros of choosing a home that needs to be fixed up is to allow an individual to be able to purchase more home for the money and then "customize it" how they would like with the money they saved on the listing price. The cons are that there may be hidden problems that are costly such as plumbing and electrical issues you couldn't see during home inspection that now will cost a lot to fix properly. The best advice is to allot for surprises and then some when choosing to renovate/fix up a property and always make sure the work is done by a licensed and reputable person.
In conclusion, I hope that this clarifies the meaning of this designation that is given to properties all the time now and how a million dollar home is a fixer upper in a different way than an unmaintained home.
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434-392-6163
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