Finding a good fixer upper property can save you thousands of dollars on a new home, but you will definitely want to do your research before committing to anything. Be sure to work with a Gainesville real estate agent who can help you find the best fixer upper houses available on the market. You should ask your Gainesville real estate agent about the particular neighborhood and find out all the important details about the property before you make a purchase. And be sure to check the property completely to find out everything wrong with it.
The best way to approach your search is only to look for fixer upper Gainesville real estate in the areas that you actually want to live in. Finding a good deal on for Gainesville real estate in a prime area can be very exciting as it will allow you to move into a neighborhood you otherwise may not have been able to afford. You might find a great deal in other areas, but if it’s in an undesirable area the lower price won’t be worth it for you. Consider your needs for good schools if you have children, and proximity to your employer if that is important to you.
Find out exactly what’s wrong with the home so that you can calculate your repair expenses. It helps to work with a Gainesville real estate agent who has experience in these types of properties, as your agent will be able to advise you on your anticipated repair costs. Find out every issue with plumbing, electrical work, and other work that may need to be done on the home. All of the repair costs should be deducted from the home’s price, and they should be major negotiation points. You might even hire a home inspector to catch repair issues that were not mentioned upfront before you commit to buy.
If you are not keen on making major repairs to a home, don’t purchase a fixer upper with serious problems like roof defects or structural problems. Typically these homes would be sold to a Gainesville real estate investor. You also probably should only look at fixer upper Gainesville real estate if you are an experienced handyman, as you can repair the issues with the home yourself and save money that way. If you end up having to hire contractors to repair your house after you buy it, it can easily wipe out the savings you made with the lower upfront price.