Fixer Uppers
Definitely research your market before setting out to buy.
Familiarize yourself with the true meaning of “as is” or “in its present
condition” My advise is “buyer beware”. Definitely get the house inspected. Try
and negotiate the price of the house to off set the cost of repairs. If seller
won’t budge, then you need to reconsider the purchase.
Curb appeal, exterior paint taking up carpet to expose lush
hardwood floors. These are the kind of things a buyer can do himself and keep
the cost down. Strive to spend your money on things that buyers can easily see.
Fixing and cleaning cosmetic issues if fairly easy and inexpensive. It
virtually always gives a good return on the investment particularly if you do
the work yourself.
Kitchens and bathrooms usually pay
the best return.
TIPS
-
Don’t
over pay! There’s no “wow” in doing costly repairs
-
Try
to offer less to compensate the repair cost.
-
Ask
seller to pay all or part of your closing costs. You’d be surprised!
-
Research
the market for resale. Always have an exit plan in place before making an
offer.
Got a question?
Contact Martha
(316) 993-8506