As you are thinking about living in Clay and buying a new home, you might wonder if buying a fixer-upper is a good idea. On the plus side, these Clay properties will be offered at steep discounts, compared to a fully updated home. And it’s fun to think about lovingly restoring a beautiful old house to its former glory. If you love design and architecture, the idea might really appeal to you. However, it’s important to explore several factors before you decide to buy a house that needs a whole lot of TLC.
Fixer Clay Properties Need a Home Inspection
The first thing to do is to get a home inspection. You want to make sure that the bones of the house are sound. This means that there are no major problems with the foundation, wiring, HVAC, or plumbing. If these areas need significant work, you are looking at a lot of time and money, especially if you have to bring old or faulty systems up to modern codes. For most people, these types of problems indicate that it’s time to walk away.
If the bones are sound, you can bring a contractor in to look at the house and give you an estimate of how much it will be to fix it up. The inspection report will be a big help here, too. Once you have your estimate, add at least 10% to account for unforeseen issues. Now that you have real numbers, you want to think about whether you plan for the house to be your primary residence or if you want to flip it. If you’re going to live in it, how long do you plan to be living in Clay? For a house that is going to be your forever home, it makes more sense to invest a lot of time in money. If you’re going to sell it soon, it’s probably best to pass on something that needs lots of work.
If you’re looking in Clay or the surrounding communities, give the office a call so we can set up a time to discuss your needs.