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3 Tips in Buying a Fixer Upper

House prices are on the rise and they have been for a long time, so it’s getting harder and harder to afford to buy. But you can save yourself a lot of money if you buy a property that is in need of a bit of love and attention, and fix it up yourself. You’ll get the house a lot cheaper to start with and if you’re careful with your spending during the renovations, it is a lot more affordable than buying a place that is ready to move into right away. Before you rush off and buy an old house though, you need to understand that it’s not as easy as people think. So many people buy houses that need far too much work for them to handle and by the time they realize that they’ve bitten off more than they can chew, it’s too late. The key to success when buying a fixer-upper property is finding a balance between the price and the amount of work that needs doing. If you are considering buying a property to fix up, you need to read this guide first.

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Know Your Deal Breakers

When you are buying any property that isn’t a new build, you have to be prepared for certain problems that may arise. If you are hoping to move in right away, you expect all of the repairs to be handled by the previous owners before you buy the property and if they aren’t, that’s a deal breaker. But it’s a different story when buying a property to fix up and you go into it knowing that you need to do work on it. However, it’s important that you still have your deal breakers and you know what they are before going in.

Any cosmetic work like peeling paint, broken doors, or old carpets can be dealt with fairly easily on your own. But when it comes to the bigger stuff, you need to know what you’re prepared to deal with and what you are. For example, foundation repair is going to be invasive and can take a while. The same goes for roof repairs or rewiring the entire house. You need to decide whether you’re willing to take these jobs on or not.

Focus On Layout

A lot of the interiors are going to be ripped out and replaced when you renovate, so when you’re viewing a property, always focus on the layout. The layout of the house gives you some idea of what the potential of the place is. Think about what you could do with those spaces and remember that you can always change the layout by knocking walls through or adding them if you like.

Get An Inspection

This is by far the most important thing to remember because you need to know exactly what you’re working with before you decide whether you want to buy it or not. No matter how many times you view the house, you are going to miss things. That’s why you need to have an inspection carried out before you move forward. That way, you can get an idea of exactly how big this project is going to be.

As long as you follow these important rules, you can buy the perfect property to fix up and you won’t have any nasty surprises further down the line.

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