by Harriet Bond
(Chicago, United States of America)
Fixer uppers are homes that usually need a moderate number of homerepairs generally not requiring special knowledge or expertise on your part, as the homeowner.
Fixer upper homes can be excellent bargains when the “asking price” is significantly lower than comparable homes nearby but in good or excellent condition.
An fixer upper needing a cosmetic fix-up can be a great property. They generally need some repainting outside and inside (paint can do a lot of wonders), floor refinishing or new carpets, new lighting fixtures, little repairs, complete cleanup and landscaping.
If the home necessitates massive repairs such as electrical and plumbing problems that usually are expensive, it will slash your profit back or worst, eliminate it.
Before purchasing a house you believe is an effortless fixer upper, a professional home inspection should be considered because the inspector can provide you an accurate idea of what existing problems the home has and what repairs are needed as well as an approximate repair cost.
Here are frequently found fixer upper defects that might need your attention:
• Plumbing system
• Electrical system
• Central heating
• Central cooling
• Water seepage
These defects requires expensive professional repair especially when talking about the value these repairs will return upon resale.
Most often, these major defects go unnoticed because fixer upper buyers usually can’t see the inside workings, hidden out of view behind walls or covered inaccessible areas that are often taken for granted.
Cracked “heat-exchanger” in the heating system, faulty wiring, termite damage and safety and health problems like lead accumulation, water pipes as well as asbestos insulation are common physical flaws that you can’t see immediately.
Indications of these hidden problems are as follows:
• Moisture stains that can be found on ceiling and walls could mean plumbing problems.
• Separations between wall and floor specifically for outer walls could mean structural problems.
• Sawdust piles near woodwork or wall corners can be an indication of termites.
A home inspection from a professional
A professional home inspection can cost about 200-325 dollars depending on the kind of property, location, square footage, etc.
When hiring a professional home inspection of fixer upper houses, it is wise that you obtain quotations first from several competing companies.
However, the lowest bidder shouldn’t be immediately given the job; aside from the price, you must inspect the “quality of service” they offer as well as the company name. It is important to choose a company with a good reputation.
Several home inspection companies have some kind of computer-like machines which can supply inspection reports and descriptions instantly then the company adds their “pre-printed” sections which are very helpful for you in order to understand the fundamentals of repairing, fixing and replacement.
Furthermore, home inspection companies supply an entirely impartial appraisal and assessment of the house, inspecting everything carefully from electrical systems, plumbing to structural to make certain that the fixer upper house you are purchasing is sound.
Professional home inspectors can make certain that all major systems (air conditioning, plumbing, furnace) are working properly or they can pinpoint defects to you because these kinds of repairs will cost you a great deal of money.
However, do keep in mind that major repairing problems don’t automatically indicate that you shouldn’t purchase the fixer upper home, because they can and should be added in the home’s price negotiations.
A good fixer upper seller or realtor will and can factor in said considerations or concerns and you possibly can purchase the home for even less if you put it clearly that you will be responsible for the repair or replacements.
Just be careful that you don’t get tricked. Never take anybody’s word that the plumbing, the furnace or the electrical have no problems at all; you have to make certain.
Sometimes you can easily “walk away” from an excellent fixer upper homedeal in a terrible neighborhood. At times, when you can specifically pin point what repairs and replacements are necessary, you can obtain a substantially lower price.
The trick in fixer upper homes is to discover those necessary repairs because often, the home seller won’t point those out to you.
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