Bargain Homes

Most buyers want a home that is in great condition and ready for them to move right in, but many homes sell for lower prices because they need some cosmetic work. Many buyers in our present market are searching for "fixer-uppers" for the obvious reasons: the lower price and the satisfaction of remodeling and improving the home to meet your tastes and needs.

If you’re buying the home for yourself or if you are buying as an investment, choose a house that is in a good location (you can’t change location) and structurally sound (structural improvements are the most costly and not typically visible, so you don’t get the return on investment). It should be priced enough below market value to allow plenty of room for a profitable position after the work is finished.

It is essential to get educated before taking on a flip or even just taking on a fixer-upper. Inexpensive cosmetic improvements often give the greatest return on your investment-- paint will increase the value three times for every dollar invested (this is a general rule). Yard improvements, flooring, and lighting are also fairly inexpensive changes that can add value. Steer clear of anything that needs expensive structural fixes such as a new roof, plumbing, electrical, or foundation repairs.

Remodeling a kitchen will rarely add more than the cost of the improvements (another general rule), while a new refrigerator or other appliances usually work out well. Adding on a bathroom, if you have this option, typically offers the best return on investment.    

Mario Trejo Romero Certified Residential Specialist, CRS 602-252-4191 The Romero Team - Melcher Agency www.TheRomeroTeam.com

P.S. Who’s the next person you know who’ll be buying or selling their home? I’m here to help!

Mario Trejo Romero
Certified Residential Specialist, CRS
 602-252-4191
The Romero Team - Melcher Agency
www.TheRomeroTeam.com
P.S.  Who’s the next person you know who’ll be buying or selling their home?  I’m here to help!