Your Guide to Buying a Fixer-Upper

Finding the right home is challenging, but seeing the potential in a property that needs some TLC can be even more difficult. We’ve broken down everything you need to know about buying your first fixer-upper, from how to tell if a home has potential to which projects will make their money back for you and which projects are worth saying no to.

 Things to Look for

Before you get to work, you have to find the right home. The one that’s chock full of undiscovered potential. While there’s a lot to look out for — both good and bad, there are a few key signs that will help you determine if a home has the potential to produce a profit. 

 Location

As with buying any home, location is key! For the highest return on investment properties, finding a desirable neighborhood is important. Community amenities and even the surrounding school district can offer a significant pull when you turn around to sell.

 Amenities

While two-bedroom homes are the perfect place for young families to start their real estate investment, three-bedroom homes offer greater potential as fixer-uppers, given that they offer more space and can cater to the needs of a growing family.

What Flips are Worth It

Deciding what project to tackle is tough, especially if your background isn’t in construction or architecture. While many projects may seem attractive or achievable, these four are the ones that are sure to turn a profit.

 Kitchen Renovations

The heart of every home, the kitchen is a place to gather and spend time making memories together. The added glitz and glam of high-end countertops, ample cabinetry, and quality appliances can make the experience of cooking all that much more enjoyable. 

 More Light

Natural light is one of the key phrases in every buyer’s mouth. Who doesn't want a home that feels bright and warm? Added windows offer the comfort of natural light that every Pacific Northwest home craves during the bright spring and summer days.

 Energy Saving Opportunities

As our world becomes increasingly eco-conscious, nearly everyone is looking for easy ways to reduce their footprint. While installing solar panels might be slightly out of your budget, energy-saving appliances and smart windows that tint to keep your house cool offer more accessible ways to reduce the amount of energy you use at home.

 Bigger Garage

Who doesn’t love a little extra storage? Whether that means additional space to park your cars or simply more room for shelving to store the holiday decorations, a larger garage is on everyone’s wish lists.

Things to Avoid

Hiring a good home inspector to vet your potential fixer-upper is your key to avoiding as many headaches as possible when you do get to work. While there are a number of things that may strike fear into your heart, there are two that you should undoubtedly avoid.

 Structural Issues

Costly, time-consuming, and requiring expert advice or repair, structural issues are the nightmare no one needs in their fixer-upper. 

 Non-code Electrical

While making upgrades to electrical is a routine project, wiring that isn’t up to code is a whole other situation in and of itself. Not only is it dangerous, but it can also become a much larger project than expected.