The Money Pit: Fixers vs. Total Rehabs
Fort Lauderdale, Fl
Considering buying a home that needs a little TLC? It can be a worthwhile investment—if you know what you’re looking for. Homes that require renovation run the gamut between fixer-uppers and total rehabs. The difference? Fixers tend to lean toward cosmetic upgrades, whereas total rehabs likely need a structural overhaul.
If you’re unsure which category a prospective property falls into, a good rule of thumb is to determine its livability. If you can safely and comfortably live in the home while renovating, it’s likely a fixer-upper. For total rehab homes, the opposite is true.
Whichever direction you head in, keep in mind both types of properties should be evaluated by a qualified inspector. He or she can provide a list of potential repairs and replacements, helping you gauge the resources you’ll need to commit to the project.
Source: RISMedia’s Housecall
Reprinted with permission from RISMedia. ©2015. All rights reserved
Considering Kitchen Layouts: What's Cookin' Good Lookin'?
Invite Inspiration When Decorating the Spare Room
Digging for Gold – Investing in Condemned Properties
Do You Have a Real Estate Related Question?
