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Thinking About Buying a Fixer Upper?

Wednesday, September 8, 2021   /   by Tara Turner

Thinking About Buying a Fixer Upper?

Thinking about buying a fixer upper? 

Homes that need work can be a great investment, especially if you can purchase them at below market price. But stay away from upgrades that won't add value to the home.

If a home needs major repairs to it's 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, for your protection, it is essential that the real estate contract is 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. 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. 

If you have any questions relating to buying or selling a home, please give us a call at 909-255-1070. Mitchell Stein License# 0208163

Stein Team Realty - Keller Williams College Park
Mitchell Stein Dre# 02081632
2440 W Arrow Route #5C
Upland, CA 91786
310-770-4121
DRE# 01885348

Based on information from California Regional Multiple Listing Service, Inc. as of May 22, 2022. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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