Blog

Purchasing a fixer-upper property can be an exciting and rewarding
experience. HGTV is filled with programs of amateurs knocking down walls
and tiling bathroom floors. The fact is that this is much harder than it looks
and before diving headfirst into this kind of project, it’s critical to consider
whether you are prepared for the venture.

5 Important Things to Consider Before Buying a Fixer-Upper Home

1. Financial Planning – The first step in buying a fixer-upper home is to
establish a realistic budget. Include the purchase price, repairs costs, and
any expected expenses for renovation or restoration. Once you have
created a “known” list, then add extra for unexpected issues that will arise.

2. Time and Effort – Renovating a fixer-upper takes time and effort,
even if you hire a general contractor to oversee the project. Consider the
overall scope of the project and evaluate your skills and level of time
commitment.

3. Structural Condition – Before making an offer, thoroughly inspect
the property’s structure and foundation. Recognize the impact of any issues
uncovered and make sure to budget for the proper corrections.

4. Real Estate Market and Location – Even a beautiful home in a
terrible area is a bad investment. Consider such factors as property values,
market trends and the potential for future appreciation. Work with a
financial planner to make sure the investment fits your long-term goals.

5. Legal Considerations – Before writing the offer, familiarize yourself
with local building codes, permit requirements, and zoning regulations.
Ensure the changes you anticipate align with local requirements.

Purchasing a fixer-upper home can be a wonderful investment and
worthwhile project. By evaluating your budget, time commitment, property
condition, and potential appreciation, you can be sure to choose the right
situation for your goals and experience.

Approximately 90 percent of seniors over 65 years old intend to stay in their
homes for at least 10 more years, according to AARP. As a result,
remodeling companies report an uptick in the number of customers doing
upgrades and remodels to allow them to age in place.

Fortunately, there are some simple changes you can make to your home to
make your home comfortable and safe as you age.

· Install Grab Bars – Install bars and railings in high-risk locations,
such as bathrooms and bedrooms.

· Ramps – Often older people need assistance when walking. Add a
discreet ramp to the home to allow those needing wheelchairs, walkers, or
canes to enter the home safely.

· Utilize Smart Technology – Smart technology has improved the
security of senior homeowners. Medical alerts, remote security, and
communication systems allow the homeowner access to immediate help in
an emergency.

· Go Hands-Free – Change bulbs and outlets to voice-activated and
changing faucets to hands-free will help those with joint or grip pain.

· Update Flooring – Trip and fall injuries are common as we age, low
pile carpet or non-slip hardscape is best for older homeowners.

· Improve Lighting – Consider nightlights in hallways and bathrooms
and add brighter lighting to living spaces.

Many seniors want to stay in their own homes as they age. Making a few
minor adjustments can help them to that by creating a safer environment
and offering immediate help if necessary. This offers peace of mind for both
the homeowner and those who love them.

The strong seller’s market has prompted homeowners across the country to consider selling their homes. What if your property is a rental unit with tenants in place? Can you still sell and take advantage of the rising home values? Yes, by understanding the steps and following a few tips, you maximize your profit in this strong market.

The first step in selling your home with tenants in place is to understand your rights and responsibilities. The kind of lease you hold will determine if you can simply give notice to the tenants or if the new owners will buy the home with a lease in place. Only month-to-month leases can be terminated unilaterally with proper notice.

Next, meet with the tenants and discuss the situation. Explain your reasons for selling and assure them that you wish to make it as easy as possible. Offer to sell the home to the renters first, and then discuss any future plans they may have. If they can’t or don’t want to buy the property, you may be able to offer them money to move. Your goal must be to have the cooperation of your tenants so they will help facilitate showings and maintain the home.

When you have tenants who will remain in the home after the close due to their lease, then you must disclose the lease terms to the buyer. The new owner will be legally obligated by the lease. In a strong market, you may find a buyer willing to wait for the expiration of the lease, even if they intend to occupy the home.

Selling with tenants in place doesn’t have to be difficult. Do your homework, understand your obligations and be transparent with the renters and potential buyers. This way, you make it easy on all parties and can reap the reward of high home values.

Are you looking for a fun project that will add some pizzazz to your home – that doesn’t require a degree in carpentry? Before you leave your old furniture on the curb with a sign that says, “free to good owner,” here are 7 creative ideas that will revitalize that furniture and leave anyone feeling handy.

1.Rustic Planter – Enhance any backyard space by painting an old bedroom side table with a fun color, pull out the drawer, and use it as a planter.
2. Kitchen Island – No built-in island? Transform an old dresser by adding a custom countertop. The drawers will come in handy also.
3. Crib Appeal – We all need more storage. Take off one of the side rails of that old crib and add a piece of glass or butcher block on top to make a cool bookcase or craft table.
4. Cabinet Door Headboard – Reuse those old cabinet doors by creating a custom headboard for a guest bedroom. Paint white or multi-colors for a country chic look.
5. Vanity Transformation – Remove the backing from an old dresser, add a sink, and you have a cool vanity for your bathroom.
6. Bedspring Bottle Holders – No wine rack? No problem. Remove old mattress bedsprings, attach to a wood panel, and store your wine bottles with this cool rack.
7. Pet Bed – Every pampered pet needs a bed. A drawer from an old dresser makes a cool pet bed. Attach some short furniture legs and add a cushion for indoor or outdoor use.

If you have some time on your hands and old furniture to get rid of, maybe you can repurpose them and spruce up your décor at the same time with these fun ideas.