Real Estate News

Turn Key or Fixer Upper

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.

Lost Places, Barracks, Leave, Old, Decay, Ruin, LapsedThen 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. 

Posted in:Real Estate News and tagged: Fixer Upper
Posted by Joseph Baratta on March 8th, 2018 3:38 PM