If you are
an investor in Utah County and would like a fixer-upper
be sure to be familiar with these facts:
(1) You are aware that these homes need work, (2) You are
prepared to create a realistic budget ahead of time, and (3)
You remember to leave yourself some financial "wiggle room."
Considering these things, it is possible to find an ideal
home for much less than what comparable homes, already in
top condition, are selling for.
If you are the type of person who recognizes a "diamond in
the rough" you’ll know a great deal when you see one and
will be interested in our FREE Utah County Early Bird
Buyer's Program. Our automated service searches all new MLS
(multiple listings service) listings from all Real Estate
companies, and downloads a current list of "fixer upper"
properties that match your personal home buying criteria in
your specified price range.
Our Utah County House Hunter Service enables you to get
priority access to the hottest new listings, giving you the
competitive edge in finding the best buys before other
buyers in our market even know they exist.
To request your own, personalized list of the hottest, new
fixer upper listings that match your criteria, simply fill
out
our
Fixer-Upper Homes in Utah County.
Be Careful Buying a Fixer Upper Home in Utah
County
For people who love old homes — and love to work on
them — the notion of buying a fixer-upper can be
irresistible. Just think: You can snag a rundown
home in a good Utah County neighborhood for way
below market price, invest some time and money
renovating it, and end up with a like-new house
that's worth about 30% more than you paid for it.
Sounds good, right? Often, it is. But buying a
fixer-upper can be difficult. So before you take the
plunge, make sure you have a realistic idea of what
you're getting into. Many Utah County buyers
consider their own labor free on a fixer-upper. Once
the home is complete they do the math and sometimes
find the purchase was not worth their time.
A Buyer must figure out what you should pay to buy a
fixer-upper in Utah County. This starts with a
simple equation. First, add up the costs to renovate
the property based on a thorough assessment of the
condition of the house. Be tough with this estimate,
which should include materials and labor — yours and
other people's. Next, subtract that from the home's
likely market value after renovation, drawn from
comparable real estate prices in the neighborhood.
Then deduct at least another 10 percent for extras
you decide to add and any unforeseen problems. Many
buyers underestimate the repairs and are shocked
when the final price of their home comes in after
repairs are completed on the home.
A buyer in Utah County should hire a professional
inspector to evaluate the home prior to the
purchase. The inspector will assure you that the
house is a good or bad investment. He will bring to
light many needed repairs that you did not see. Make
sure you are buying a home that is structurally
sound and solid. If a home has a structural problem
forget about it and more on. The real estate market
is full of homes and you don't need a home with a
structural problem. This type of home is difficult
to sell.