What to Keep in Mind When Buying a Fixer-Upper

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When buying a fixer-upper, get a home inspection, verify that your remodel plans meet all zoning restrictions, and look for any tax advantages.

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What should you look for when buying a fixer-upper? There are a few things you need to keep in mind.

The first is getting a home inspection. We recommend this to our clients because we often see other buyers spend less than a half an hour walking through a home and overlook things that could be wrong with it.

The home inspector will spend between two and three hours going through that home so you’ll know exactly what you’re buying and you won’t have any surprises down the road.

There are great tax incentives in buying a fixer-upper.

The second thing you should do is talk to the city or township and verify that you can do the necessary remodeling in order to fix the home up Sometimes there can be zoning restrictions—especially on lakes—that prohibit any additions from being made.

Lastly, look for tax advantages. There are some great tax incentives for people buying fixer-uppers. Reach out to your accountant and see if there are any available monies in the marketplace, whether it’s county or state funds, or if there are any other tax incentives that would make sense for you to buy a fixer-upper.

If you have any other questions pertaining to finding the right fixer-upper, please don’t hesitate to give us a call or shoot us an email. We would be happy to help you in any way we can.

Home Renovations You Should Avoid

Home renovations that don’t pay off usually happen when people try to renovate according to their specific taste.

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There are a variety of home renovations you can make that don’t actually pay off, and it’s important that you don’t fall into this trap.

Many times, sellers make the mistake of renovating to their specific style and likings, and this doesn’t always translate well when it comes time to sell the home.

Here are some of the things you have to watch out for:

• Too much wallpaper
• Lavish light fixtures—being gaudy about lighting can turn off potential buyers in today’s marketplace
• Textured wall coverings—many people prefer smooth wall coverings
• Having the wrong flooring
• Too much carpet in high-traffic areas
• Picking bold wall colors instead of neutral
• Installing a swimming pool or hot tub—nobody wants to take on that maintenance

It’s important to appeal to the largest pool of buyers possible when selling. I hope you found this list helpful if you’re thinking about selling your home.

If you have questions about this topic or about our real estate market in general, please don’t hesitate to give me a call or send me an email. I’d be happy to help you in any way I can.