It seems you can barely check your TV guide without finding a show about do-it-yourself experts renovating outdated homes for a profit. Although house hunting for a fixer-upper to refurbish might seem like an easy way to make money, investing in the wrong property could sap your savings. To know whether to buy a house or walk away, keep a few important factors in mind.
3 Considerations When House Hunting for a Fixer-Upper
Things like local amenities, schools, walkability, and surrounding businesses are a big deal to homebuyers, so evaluate the community carefully before you buy a house to fix up. As a general rule, look for the worst house in an excellent area instead of a decent home in a less desirable location. Evaluate factors like the lot size and view when you consider a fixer-upper; if the land is beautiful and the home is in a good part of town, talk with your agent about making an offer.
Home Inspection Results
An older house might have curb appeal, but the inside counts just as much if not more. Make all offers contingent on a satisfactory home inspection and walk away from a house with severe structural, plumbing, or electrical issues. On the other hand, if the home inspection turns up cosmetic issues or even one serious repair like roof replacement that can fit into your budget, consider investing.
Last but not least, trust your intuition. Pay attention to the way the seller’s agent acts about the property and whether other house hunters are interested in it. If a seller seems too willing to part with a house for a low price or you simply have a bad feeling about the property, keep looking.
If you are house hunting for the perfect fixer-upper, consult the experts at EXIT Reward Realty in Pittsfield and Epsom, NH. Their real estate agents work with an extensive network of sellers throughout the Strafford, Concord, Northwood, Pembroke, Deerfield, Alton, Barnstead, Chichester, Loudon, and Gilmanton areas. Whether you’re buying or selling a home, they can close the deal. Call (603) 435-7800 to schedule a consultation with an agent and visit them online to view their listings. Like them on Facebook and follow them on Twitter for updates about their latest transactions.