There are a number of factors you’ll need to look at when buying a fixer-upper in Salt Lake City. Before you actually sign, do take a second look at your possible purchase’s strengths and flaws. It’s better that you’re sure you’ll get your money’s worth.
How BIG Is the Price Difference?
Check how much a brand-new house in the same neighborhood or area would cost compared to the fixer upper you’ve found. When the difference in price is around a quarter of a million dollars, obviously repairing and renovating the older home is a good option.
You may not be able to live in the fixer upper until the repairs are done, but it’s still a better deal. Just remember to check the best prices for home furnishings, doors, exteriors, and new sidings to get an even bigger discount.
Focus On the BIGGER Concerns
Instead of focusing on the mildew stains on the counter or the dingy rug on the living room floor, Double T INC. recommends checking if the sidings are still solid or if the pipes are still intact. There are buyers turned off by cosmetic or aesthetic issues, and bypass the more important fixtures in the house.
The rule of thumb when looking at a fixer upper: Check the largest repair and renovation concerns, compute possible expenditures to fix them, then make a decision.
Which Is The BIGGEST Property?
More traditional house buyers still go for the bigger property. This is not necessarily about the structure’s square footage, but the yard’s size can still be a deal-breaker. Remember that the layout is important, too. It’s one of the factors that influence your home’s resale value, says U.S. News. Besides, improvements to the yard can also add to your home’s value.
When buying a property, don’t stop thinking big. After all, it not only offers big savings, it will also give you a bigger home.