In the Orlando, Windermere, Winter Garden, Apopka, Kissimmee, Oviedo, Longwood, Winter Springs, Winter Park, FL real estate market, buying a home with the intent to fix it up is one of the best investments you can make. There’s no better way to take control over your home ownership than to customize the design, floorplan, and landscaping of everything from a single story rancher to a charming Victorian – especially if you’re looking to use the current Florida real estate economic climate as a way to get the home of your dreams without breaking the bank.
However, as any responsible real estate agent will tell you, buying a fixer-upper can be a big challenge. Excessive or hidden damage in a home can be both dangerous and costly. Before you make the plunge, make sure you follow a few important fixer-upper guidelines.
1. Always get an inspection. Nothing will give you a better idea of what kind of repairs you’ll come across than a thorough home inspection from a trusted source. Don’t take on more damage than you, your contractor, and your budget can handle.
2. Pay attention to the layout and structural foundation of the house. If you’ve always dreamed of a large kitchen, make sure your potential new home can be adapted in terms of wiring, plumbing, and layout. Sometimes, the skeletal structure of a house prevents certain types of cosmetic changes.
3. Location matters. It doesn’t matter if you’re looking for a single family house in Orlando, Oviedo or Longwood or a condo in Windermere, Winter Park or Winter Garden; a home’s value is only as high as the neighborhood in which it’s located. A rundown building in a nice neighborhood has the greatest potential to bring an enormous resale price.
4. Know the difference between “big fixes” and “small fixes.” Things like drywall, painting, floor refinishing, landscaping, and hardware are easy to do yourself. Things like plumbing, electrical work, windows, and roofs can be more expensive and difficult. Stick to changes you can make for certain based on your skill level and budget.
When buying a home in Orlando or looking at Windermere real estate options, a fixer-upper can be one of the best ways to get the home of your dreams for a low overall cost. Just make sure you enter into the transaction with your eyes open, with flexibility in mind, and with Orlando Realty and Property Management at your side.