You may be considering saving money by purchasing a fixer-upper in this market. Here are a few things to consider:
Money, money, money. Make sure you have the means to start and finish the project. Living in a half completed or attempting to re-sell a partially finished project isn’t fun or wise.
The two S’s…safety and structural. Always purchase a property that is safe and structurally sound. Make sure to have an inspector AND a contractor look at the home BEFORE you purchase so you can make a well reasoned decision.
Trust is key. Hire contractors and service providers that you can afford and trust. Ask your REALTOR® for a preferred list of vendors and always get at least three quotes. One potential snag is the work level of many contractors and service professionals here in the Treasure Valley and these delays need to be considered when you are purchasing your home.
Sweat equity is just that – you put your sweat into it and build equity by doing the work yourself. Some people are quite handy and love taking on home improvement projects but many are not. DIY may not be the best route for you to take and you may decide to purchase a turn-key home and save yourself the hassle, stress and sawdust.
