March 8th, 2018 3:38 PM by Joseph Baratta
A big question I get asked often is, is it it better to buy a turn key property or a fixer upper?
Turn key is when everything is in such great shape that you could just move in with only a few minor changes like maybe changing the color of one room, or swapping out a carpet in one or 2 rooms. Things like that. Or perhaps a bathroom tile isn’t your taste but it’s in excellent condition. You could live with that for a few years.
Then there’s the fixer upper. They come in many levels. Some downright need skilled professionals to get them move in ready. Several years ago I sold a home for a couple as part of their divorce. The house was the only asset left to divide. The kitchen, boiler, water tank & door knobs were all ripped out. I guess someone felt that those items belonged to them & not the house. I wish I were kidding. Besides the missing fixtures, the windows were old and paint was peeling wherever you looked. Although it was a bargain when it sold, it wasn’t a home that was easily repairable for just anybody. The buyer was a contractor with his own crew and was able to get the house completely restored in just a few months.
I have met may buyers that lost a small fortune in a house that needed so much more than they were able to handle. Don’t let that be you. If you are looking to invest in a home or you know someone who might be, let me help. I have a lifetime of construction experience. I can offer advice and estimate costs of repairs and I can spot defects & problems that can cost you a bundle down the road.