Make sure your fixer upper doesn’t turn into a money pit!
The Lawhead Team would like to share the latest One Cool Thing about making sure you aren’t going to be dumping more money than you had planned into your fixer upper.
If the idea of purchasing a fixer upper sounds appealing, be sure you conduct your due diligence to avoid falling into a fixer upper money pit. While these individual signs might not derail a sale on their own, they might want to warrant a call to a local expert who can assess the problem, offer solutions or give repair estimates.
Stuck windows and doors – These can be a sign of moisture or that a house is settling due to age or structural shifting. Both are problematic.
Smell of moisture – Besides damage to the house, moisture can adversely affect a homeowner’s or tenants health.
Historic home designation and zoning rules – Municipal guidelines may restrict buyers from making certain improvements to their home and property.
Sloping or sagging floors – Both indicate structural problems beyond just aging. Find out if framing, joists or sub-flooring need replacement.
These are just a few signs that your fixer upper may be problematic. Work with your REALTOR to determine which property is best for you and your needs.
Source: Money Crashers