In our 20+ years remodeling homes, South Land Remodeling has helped clients do more fixer-uppers than we can count. This type of home investment can be an intimidating one given the potential uncertainties, construction costs and project timeline. That said, fixer-uppers are a worthwhile investment – building immediate equity – if you’re well-informed and strategic.
To help you with this, here are three key pieces of advice from a professional general contractor about buying a fixer-upper.
First, know your housing market. Hire a seasoned, highly rated real estate agent and have him/her counsel you on buying a home. This advice should include the best areas to invest (location, location, location!), the best type of home for your vision, and the best price range to stay within. That price range should factor in the cost of the home, plus renovation costs. When considering purchasing a home, there are a couple key questions to ask your realtor to ensure it’s a good deal: 1. Is it priced right? 2. How much could the value increase after a remodel? Knowing these numbers can help you make a decision that will protect and benefit your pocketbook.
Second, bring a home pro to view the property. General contractors and home designers like South Land Remodeling are available to inspect the home before you make an offer. If your general contractor doesn’t offer home design services, it can be a good idea to bring along an interior designer. These home experts (plus a home inspector) can examine the property’s footprint, condition and potential so you avoid purchasing a money pit. Their expertise will also give you an idea of the possible costs to transform it into your dream home.
Third, stick to your budget. Live by your budget from the time you make an offer to the time the final piece of tile is laid. Equally, ensure you hire a contractor who will do the same. You’ll quickly discover that costs for major renovations add up and unforeseen expenses can occur, particularly in older homes. Having a detailed budget that accounts for everything from permits to materials to furniture will help ensure a smooth and successful remodel. Bonus tip: Here’s how to save money on your remodel.
Looking for an experienced remodeling contractor in Los Angeles, CA? South Land Remodeling has 5-star client ratings. Contact us any time for a free quote on your home improvement project.