411homerepair.com

Evaluating a Fixer Upper Property before Purchasing

by Guest on Jan 24, 2014

Investing in a fixer-upper property can be a great concept to earn some additional money as part of your income. The real facts are that you need to evaluate a property with the help of a professional inspector before investing large amounts of upfront money, as it can end up sucking up a lot of your money if it’s not in the best of shape. In addition to personally looking at a property, it’s important to strongly consider all the findings detailed in a property inspection report. This is where you will find a detailed description of everything you would need to invest time and money in before the location can be used and a professional will know exactly what to look at when completing this detailed description.

Aesthetically you can easily look past peeling wallpaper, dirty carpet and a worn-out roof. When it comes down to items in a building inspection report such as plumbing, electricity, air quality and potential rodent infestations these can be the items that make or break your final decision. A property inspection report will take into consideration more precise factors that can help you make your decision such as:

Plumbing

If the building inspection report details that the plumbing is out of date and no longer to code, it can be toxic for you to leave the pipes as is. If you have to completely replace the plumbing it’s unlikely you can do this on your own and will need to set aside a good chunk of money to get that job done.

Electric

As years go on the electricity codes for an area can change drastically to make a property safer. A property inspection report will give you an idea if the electrical work in the property is safe and if not, what needs to be done to fix the situation. More often than not you would have to hire a professional electrician to complete jobs and then have the town inspect the work before you can rent or resell.

Major Investments

Completing some minor cosmetic work can be easy to do during your free time and you can easily keep down the costs. Unfortunately, if an inspection report says you need to invest money in major improvements such as a new roof, new furnace, drywall needs to come down to repair structural damage, etc. it might not be worth the time and money to get the job done and you might want to look at another property.

SallySmith

Some other factors to consider when considering a property purchase include location and inside layout. The location is key. You will get more for your money in the long run if your property is in a nice neighborhood, in a good school district and has convenient stores and such close by. As for the layout of the house, many people want more than one bathroom and at least two to three bedrooms. A spacious kitchen and living room are also bonus selling points.

Latest Articles

How Much Does It Cost To Take A Bath​?

Plumbers know that a bath may seem like a relaxing luxury, but the real cost extends far beyond your water bill. The average soak uses 35 to 50...

on Apr 8, 2025

10 Concrete Patio Ideas on a Budget

A concrete patio can be a game-changer for your outdoor space. It is durable, versatile, and can be customized to fit your style. But what if you...

on Mar 25, 2025

Tips for Creating a Stunning Personalized Photo on Canvas

Order the unique beauty of a personalized photo on canvas and bring your memories to life. With a customized photo on canvas, you can transform...

on Mar 7, 2025

Best Areas to Buy Property in Singapore for Long-Term Growth

Singapore's real estate market remains one of the most stable and lucrative in the world. With limited land supply, strong governmental...

on Feb 18, 2025

Troubleshooting Excess Water in Your HVAC Secondary Condensate Drain Pan

When maintaining your air conditioning system, it is easy to overlook the condensate drain pan - until excess water starts pooling in places where...

on Jan 12, 2025

Sponsored Articles

Actions

More DIY Articles

How to Get Rid of Flies Indoors

There is no doubt that flies are a nuisance and you will need to deal with them. They seem to have a knack of buzzing really close to your head and...

Pest Management / Ecology

Instant Hot Water Comes with Style

RIP to the kettle. You have had a good life but there are much better devices out there now which can give you hot water at the touch of the...

General Household

Quick Tips to Sell Your Home Faster

Selling a house is never easy. Some people imagine that you simply put the house up on the market and it's sold the next day. Well, unfortunately,...

Real Estate / Finance

The Rise of Electronic Locks

Due to the sophistication and technology, electronic locks are obviously more expensive than manual key locks. The difference is that electronic...

Safety / Security

Feng Shui Tips for Decorating Your Home

The Chi, (or energy flow), should never be made stagnant at this point. Pictures and ornamental decorations in this area should be pleasing and...

Interior Design / Decor

Contact Us | Submit Article | 411homerepair © 2025