{"id":1259,"date":"2019-04-02T05:21:30","date_gmt":"2019-04-02T05:21:30","guid":{"rendered":"http:\/\/www.runningforrealestate.com\/?p=1259"},"modified":"2019-04-02T05:22:37","modified_gmt":"2019-04-02T05:22:37","slug":"first-time-homebuyers-takes-tackle-fixer-upper","status":"publish","type":"post","link":"https:\/\/runningforrealestate.com\/index.php\/2019\/04\/02\/first-time-homebuyers-takes-tackle-fixer-upper\/","title":{"rendered":"First-Time Homebuyers: This Is What It Takes to Tackle a Fixer-Upper"},"content":{"rendered":"

\"\"Photo by Pixabay<\/a><\/p>\n

 <\/p>\n

As a first-time homebuyer, you are probably already well aware of how difficult it is to find a home that checks all your boxes. You\u2019ve been looking at move-in ready homes, but have you ever considered a fixer-upper?<\/p>\n

Buying a fixer-upper has benefits<\/a>, one of which is that it is a true blank canvas for you to create and design the home you envision in your head. First-time buyers are generally on the lookout for bargains, and the fact that many buyers aren\u2019t interested in putting in work to fix up a home means you can get a fixer-upper for a lower price with minimum competition. It all sounds easy enough, but a fixer-upper requires hard work, time, and investment. If it sounds like a challenge you\u2019re willing to take on, the following tips will help you through the process.<\/p>\n

Go Over It with a Fine-Tooth Comb<\/strong><\/p>\n

Remember, not all fixer-uppers are created equal. Just like there are things<\/a> you look for when buying a home, the same applies to fixer-uppers. Start by examining the layout, as you want a home that flows easily. Whether you plan to sell the home after it\u2019s finished or later on down the road, you want the home to have desirable features. However, don\u2019t let your vision cloud what\u2019s in front of you. Examine the condition the home is in including the electrical, HVAC, plumbing, foundation, roof, and windows. If it\u2019s an older home you\u2019ll need to be wary of lead-based paint and asbestos. Don\u2019t forget to check out the curb appeal as well. The exterior of the home will need work too, but it should have potential.<\/p>\n

Calculate the True Cost<\/strong><\/p>\n

When it comes to a fixer-upper, the purchase price is the first of many expenses<\/a> you\u2019ll incur. Decide what you can DIY (and price the supplies and time) and have a contractor walk through your home to estimate renovation costs \u2014 you\u2019ll be surprised how quickly it adds up. According to Improvenet<\/a>, the average cost to remodel multiple rooms<\/a> is $35,000 depending on the particular project and materials needed, but this doesn\u2019t factor in unforeseen problems that can pop up when dealing with a fixer-upper. Factor in costs for inspections and permits before calculating your offer using this equation: fair market value (what the home is worth in good condition) minus the upgrade and repair costs. The number you arrive at isn\u2019t set in stone, and Nolo recommends that you bid lower<\/a> than the maximum so that you don\u2019t put sweat and money into a home that you could have purchased move-in ready for the exact same price.<\/p>\n

After You\u2019ve Bought It<\/strong><\/p>\n

Once you\u2019ve bought your fixer-upper<\/a>, the real work begins. For the projects you know need a professional\u2019s touch, start making calls, but don\u2019t ask for estimates. With a contractor, you set the budget and what you\u2019d like done and a contractor will provide you with a plan, time frame, and what your budget allows. This is also where you decide how you want the remodel to go. If you can afford to continue living in your old residence or rent elsewhere, the remodel can be done all at once. If this isn\u2019t the case, you may need a gradual remodel that allows you to move room to room while the fixes are being made. Don\u2019t let all this talk of contractors and keep you from getting your hands dirty. Invest in a few essentials such as a cordless drill<\/a> for removing old hardware or an oscillating multi-tool<\/a> to remove grout and caulk or sand surfaces to paint.<\/p>\n

Taking on a fixer-upper is a challenge, but it is a wonderful adventure too. If you\u2019re a first-time homebuyer on the market for a fixer-upper, make sure you examine potential homes from top to bottom so you don\u2019t bite off more than you can chew. Add up the total investment cost before purchasing, recruit a contracting team, roll up your sleeves, and get to work!<\/p>\n

 <\/p>\n

Article written by guest writer Erin Reynolds with <\/strong>http:\/\/www.diymama.net.<\/a><\/p>\n

Now that spring is here, I have special incentives for buyers and sellers, such as money back towards closing costs and reduced commission when selling, so please mention this blog and you will also receive a free market analysis of your home, no strings attached. To search free listings, please go to\u00a0http:\/\/www.dynamicsacramentohomes.com<\/a><\/p>\n

For more info on running and real estate, whether buying or selling, please e-mail me at carmenmicsa@yahoo.com, or call me at 916-342-2446. Running for real estate with joy!<\/strong><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Photo by Pixabay   As a first-time homebuyer, you are probably already well aware of how difficult it is to find a home that checks all your boxes. You\u2019ve been looking at move-in ready homes, but have you ever considered a fixer-upper? Buying a fixer-upper has benefits, one of which is that it is a … Continue reading First-Time Homebuyers: This Is What It Takes to Tackle a Fixer-Upper<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[28,124,198,122,199],"tags":[33,52,200,201,4,32],"class_list":["post-1259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-and-selling-a-home","category-buying-or-selling","category-fixer-upper","category-moving","category-remodeling","tag-buying-and-selling-a-home","tag-dynamic-real-estate","tag-fixer-upper","tag-investing","tag-running-and-real-estate","tag-sacramento-real-estate"],"yoast_head":"\nFirst-Time Homebuyers: This Is What It Takes to Tackle a Fixer-Upper - RUNNING for REAL ESTATE!<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/runningforrealestate.com\/index.php\/2019\/04\/02\/first-time-homebuyers-takes-tackle-fixer-upper\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First-Time Homebuyers: This Is What It Takes to Tackle a Fixer-Upper - RUNNING for REAL ESTATE!\" \/>\n<meta property=\"og:description\" content=\"Photo by Pixabay   As a first-time homebuyer, you are probably already well aware of how difficult it is to find a home that checks all your boxes. 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