Are you considering a "fixer-upper" home? Perhaps, you have concerns about appearance and whether purchasing this type of home is a good idea in the long run.
There are a number of homes on the market that are in great condition, but some of these homes have aged appearances. Investing in an older home has advantages, such as being cheaper, and you may even find that some older homes are more solidly constructed than newer homes.
Ability to Add On if Needed
If you have a growing family or intend to have children, choose a home that would allow you to add on additional rooms if needed. For example, a three bedroom home with two bedrooms and a basement has renovation possibilities because you could turn the basement area into an additional bedroom or living space if needed.
The amount of land available is also an important aspect. Using the same scenario mentioned above, adequate land would offer the possibility to add another bedroom or bathroom at ground-level if needed.
Having more rooms and bathrooms can raise property values. This is something you should keep in mind if there is a possibility you may resell the home in the future. This means that you could end up seeing a profit on your investment.
Get the Appearance Up-to Date
Perhaps the "fixer-upper" you locate will have enough space, and you do not see yourself adding additional rooms. You may find it challenging to get over the overall appearance of the property though.
Ideally, a fixer-upper of this type should need minimal cosmetic improvements. For example, changing fixtures can give a home a "facelift." You may also decide to take out older carpeting and replace it. If you have carpet removed, pay attention to the floor underneath. In some cases, a beautiful wooden floor may be present. Applying a quality finish to the wood can make the entire living space look more appealing.
Old doors can take away from the appearance of fixer-upper properties. Upgrading to sturdier doors with decorative glass can create a more modern appearance.
The work involved with painting the exterior of a property may be too time consuming for you, but keep in mind that you can choose to upgrade to vinyl siding and eliminate the need to paint. You can make the interior paint more appealing by choosing different colors for each area rather than having one color throughout your home.
A renovation specialist is the best resource to use if you are interested in purchasing an older home that is lacking in visual appeal. They can perform a walk-through and offer suggestions and estimates on renovation costs. This information can prove valuable if you are trying to decide whether a "fixer-upper" is right for you. For example, you may be able to use it to negotiate the selling price of the home and to determine whether your budget will allow you to make the upgrades to bring the property up to par.