Buying a Fixer-UpperPosted on 06/01/16
A fixer-upper. A handyman’s special. A home in need of a little T-L-C. No matter how you phrase it, buying an “ugly” home for sale in Destin means that you are signing up for a bit more than a new construction or really any other home. If this is the route for you to go, here are some tips that come with buying a fixer-upper.
First things first, take a good look around and see what all needs to be done. Keep an eye out for structural issues like foundation cracks, water damage and problem with wood rot and termite damage. If you come across anything remotely similar to that, be sure to bring a contractor in so that you have a better idea of what the repairs will cost.
Once you know what needs to be done, make a list of all of the repairs that are required with a general approximation of their cost. Even if you plan to do the majority of things yourself, it’s best to use a cost estimate as if a contractor is the one doing the work. Coming under budget will look a lot better than not preparing yourself for the worst.
Before you actually buy the foreclosed home in Destin, be sure to have your real estate agent work with you through the estimated market value of the home now, and what it would be if it was in good condition. Those numbers, combined with the repair estimates will give you a better idea of your potential return, and even help you decide if this is the right home for you.