If you’re looking to buy a fixer-upper home in the Mesa, AZ area, you need to know these things that could fix you up financially. You may be excited about the possibilities of the fixer-upper home, but you also don’t want to end up needing to spend more time and money on the renovations than the purchase price. Here are four things to help you decide if it’s a keeper or not.
• Evaluate the price. A fixer-upper should come at a fixer-upper price. Look at the neighborhood where the home is located. You don’t want to fix up a home to improve the neighborhood, which could be a mistake if you plan to sell the house.
• From the beginning, start evaluating the areas that need improvements. Are the renovations things like painting and landscaping that will take more sweat than money to correct or expensive renovations? Start calculating the renovation costs.
• Consider which improvements will need a professional to manage, such as a new roof, electrical or plumbing work, heating or cooling systems, or insulation versus those you can do yourself. The ones that need a pro will be more expensive repairs and possibly more time-consuming.
• Fixer-uppers can take time and cause ongoing disruption in the home for a while. Think about your tolerance level with disruption and the renovations needed. It can be taxing on stress levels, and you’ll need the patience to deal with all the repairs. Consider your budget, time, and tolerance first.
Lifetime Investments provides homeowners insurance policies in the Mesa, AZ area. Our agents work to make sure you have the right coverage for your home. Contact a Lifetime agent today and start exploring your homeowner’s insurance needs for that fixer-upper.