A fixer-upper might be the perfect place to spread your wings as a family or individual first-time home buyer. Purchasing a home is a big step in life, no matter what the additional circumstances you are experiencing might be. Buying a fixer-upper is a great way to lock in a bargain price, and get to bring in the satisfaction of a DIY home improvement project that spans the entire property.
To be sure, a fixer-upper is a task that should not be undertaken lightly. While the price tag may be extremely appealing, the work that must go into a home of this type can range from moderate output over the course of many months to extensive rebuilding over the length of a year or more.
With the help of a resource like Renovator’s Blog, though, getting all the latest information on trends, technicians, and tools that will help you to get the job done faster and smoother becomes second nature. The use of this site and others like it is a must for anyone thinking of conducting a rebuild or long-running improvement project on a fixer-upper. You’ll be glad you took the time to explore reviews, planning ideas, and lessons in order to streamline the learning curve that is sure to come along with the home.
Begin by evaluating the financing options for homeowners in this arena.
Whether you’re buying in Raleigh, Wake County, or Hilton Head, SC, purchasing a home comes with the question of financing more often than not. While around 40% of homeowners own their property free and clear, the vast majority of buyers in the current market are utilizing a mortgage loan to facilitate the initial purchase of property as a first, second, or other investment homes.
A fix and flip loan is a popular option in this arena, especially for real estate investors who are looking to take advantage of the rock bottom pricing structure of a fixer-upper home. Funding your purchase with the help of a private money lender is a great option for anyone hoping to quickly move on a property that meets their needs or the type of investment that will sit well within a portfolio of other real estate and other assets.
Fix and flip loans are the staple financial product among real estate investors buying up these homes that require a bit of care. property owners in this space often work with a consistent team of installers and technicians who can quickly repair or replace the roof, HVAC system, and kitchen fixtures in order to immediately make the home sparkle. With a few finishing touches, fix and flip loans give a real estate investor the edge he or she needs to quickly purchase a property and then relist it at a significant markup after making the requisite renovations that will attract new buyer attention.
This approach is also great for someone looking to make this house a home as well. With a private money lender in your corner, getting funding for your new home purchase is far easier than with a traditional financial institution. Private money lenders are able to engage with clients on their own terms rather than adhering to standards and practices set by a corporate office that doesn’t have the same know-how when it comes to the facts on the ground in your local marketplace.
Tackle window and roof renovations early in your journey.
The windows and roof are some of the most important external systems that your home has within its purview. These are crucial for providing security from the elements and pests that can make their way into your home if it isn’t sealed off against intrusions from the outside environment. The Raleigh heat can often warp shingles or tiles in the summertime, only to turn on its head and freeze the external fixtures through the long winter.
The change in temperature and humidity can create chaos for your home’s systems and often create additional damages to homes that have hit the market in states of disrepair. A Midland window replacement technician is your best point of contact when approaching fixes that have to do with these elements of the home. Windows provide natural light and protection from the elements all at the same time. Making sure that you’ve installed high-quality panes is a must for anyone looking to boost the comfort in a new home.
Focus on HVAC system upgrades for greater comfort in the home.
Many homeowners who are new to the fixer-upper space as to whether they should repair or replace your Wake County, NC, HVAC system? The answer will depend on the current state of your air conditioning unit and the additional components that make up the HVAC system as a whole. Many homes haven’t suffered extreme damage to the internal parts that make up the HVAC system as a whole. In this case, a repair to the major components on the inside and a replacement to the AC unit that lives in the external space may be all that it takes to get your heating and air working properly.
Air conditioning units are often rated to last for about fifteen years, but with proper care, they can extend beyond this lifespan. Still, the internal components of the system don’t have to contend with the same hammering of the rain, snow, and debris that the AC unit does. This means that the compressor and other internal parts typically last even longer.
Hiring a technician to service the ductwork, compressor, and replace low fluid levels is a great place to begin when working to restore a home’s air conditioning system to full power. This should be a high priority for anyone looking to fix up a new buy. Once you’ve taken care of the external components that keep the internal air and environment comfortable, bringing in a technician to fix the AC unit is a must so that you can move your efforts indoors to finalize the décor and living space itself.
With these action items, getting your new home in tip-top shape can be done in a matter of weeks rather than months or even years.
