Austin Realty Group
David Metzdorf, Austin Realty GroupPhone: (617) 905-6061
Email: [email protected]

3 Expert Tips for Buying a Fixer-Upper

by David Metzdorf 06/08/2023

Buying a fixer-upper can be a DIY-lover's dream. A house with plenty of potential for improvements at a great price might seem tempting. However, there are some specific things to search for to make sure you find the right fixer-upper. Here are some tips for what to prioritize to have the best fixer-upper experience:

Be Realistic

A common pitfall of many DIY projects is an unrealistic assessment of the project's difficulty. Before taking on an enormous project like renovations for an entire fixer-upper, take some time to really think about what skills and knowledge are required for smaller home projects.

There's no rule that says you have to fix everything yourself—in fact, things like electrical and plumbing improvements should be done by a licensed professional. However, even small tasks can require skills you might not have thought of beforehand.

Prepare Your Financing

The sooner you have your financing lined up for a fixer-upper project, the sooner you'll know what renovation plans are possible. Research your loan options and make a budget that includes every part of the process. Expenses include a down payment, closing costs and materials for renovations. Many traditional mortgages will let you finance renovations in addition to the regular purchase. Otherwise, you can apply for a renovation-specific mortgage.

Get an Estimate

Even if you plan to DIY your fixer-upper renovations, hiring a professional contractor can help you spot issues you might otherwise miss. Make your own budget and estimate concerning the cost of materials and tools, but leverage the knowledge of a contractor to help you identify major expenses.

If they happen to find significant structural damage, for example, you won't be stuck with an unpleasant surprise halfway through your project. You can get an estimate for what you might need to hire out a professional while also budgeting for yourself. 

About the Author
Author

David Metzdorf

Graduate of Burlington High School and UMass Dartmouth. Married with three children to my High School Sweetheart. Multiple years of sales experience including, twenty six years as a full time Real estate agent, fifteen years in the fine wine, spirits and beer industry.

Dale Carnegie sales graduate, certified buyers representative.  Multi Million dollar achiever and Top producer in Real Estate. Burlington Mass resident for 50 years. Former college Basketball player and also coached  Baseball, Softball and Basketball as well as taught CCD. Father to Father and Mother to Mother former member. Burlington Volunteer for a variety of events including Pride Day, Truck day and Fourth of July events.

A portion of each sale David makes is gifted to a local charity.