Why Buying a Fixer Upper isn’t as Bad as it Seems?
Have you ever considered buying a fixer upper home? Most people do not feel comfortable or think it is not worth the investment. In conversation with several of my clients and real estate investors, they informed me it is one of the greatest investments. I do understand this is not for everyone but let me share with you some of the benefits of a fixer upper home.
#1 Fixer-Upper is a Great Shortcut to Increased Equity
In some of the most desirable neighborhoods in every city, the streets are lined with perfectly manicured beautiful homes. Like a postcard for blissful living, they are what everyone wants. They’re in high demand and short supply and the prices reflect as much.
A house with a messed-up yard, peeling paint and 30-year-old burglar bars on the 50-year-old windows is nestled neatly between two pristine slices of paradise. To those riding or walking by it would almost seems like an odd duck. Especially since both of those houses could easily be sold on the market at $400k and the house in the middle would on go for half of that cost (if you have the right realtor of course). To an investor’s eyes, this would be a perfect buy; especially if they could get the house at a bargain basement price of $200K.
Most people might think you have lost your mind, but they will be eating their words once they see how beautiful your home is after the renovation. Your initial investment will turn into home equity. Talk about coming from the bottom, now you’re… you get it.
#2 A Fixer-Upper is Like a Do it Yourself Custom Project
I’ve been in and around home improvements almost everyday and of course as an Interior Designer I've discovered that every person has a favorite color, perfect lighting, open space, clean lines, etc. As many house I’ve done interior design for, I have yet to encounter a client that asks for the exact same requirements another client asked for in their home.
A custom home can really change your life and allow you to live in a place that speaks to you on an almost spiritual level. We have all experience this feeling before when we enter a beautiful designed hotel, a public space like a restaurant, or a home you have lived in. Waking up every day surrounded by what you define as perfection changes everything.
Cookie cutter homes are not for everyone. I have entered that I totally disagreed with the choice of counter tops, cabinets, and backsplash. The house was designed beautifully, but it just did not speak to me. This is what I try to provide to my clients; a house designed in a way that speaks to THEM.
A fixer-upper gives you the opportunity to live in a space that speaks to you (and your family).
#3. Hiring an Interior Designer
Many people have a misconception about how much value an interior designer can bring to their home. The benefit of hiring an Interior Designer prior to moving into a fixer upper allows the homeowner to experience a move-in ready home experience without the price tag.
As an Interior Designer, we live for making a space beautiful. It is fun watching the phases unfold in fixing up a home. I love to involve my clients in every step of the process to give them an opportunity to experience the fun of designing your own space.
I am a fan of the fixer-upper if you have not noticed. I hope after you are too after reading this article. If you are looking to hire someone to design your home or fixer upper, my team of professionals are ready to help you in developing the layout of your home. Contact us today so we can get you started or if you need contractors to bring your dream home alive. We are ready to serve you!
