Thinking about a ‘Fixer Upper’? Understanding the Balance Between Purchase and Reno Costs

Fixer uppers can come with huge price benefits and opportunity, as well as problems. Make sure you understand what you’re getting yourself into before you purchase a home that needs significant restoration.

Carefully Calculate

Do the math very carefully before jumping in. Add up the expected renovation costs based on a thorough evaluation of the property. As some of the expected costs will lie within a grey area, it is important that you base your estimation on the higher end of the price range. Be sure to account for all materials and labor.

Once you have calculated your expected renovation costs, subtract this number from the home’s projected post-renovation market value. It is important that you base this projection on comparable listings in the same neighborhood. Consulting a real estate professional can offer very valuable assistance with this step.

To be conservative, deduct at least another 10 percent for any unforeseen costs, mistakes, or issues that arise. That final number should be the highest offer you make on the property.

Work With The Right Team

When looking for a fixer upper that is a sound investment, make sure that you have a solid team of professionals to work with. Choose a real estate agent who is familiar with the area and type of property that you are interested in, and make sure that all laborers you hire are not only competent to deal with the problems that you’ll face during renos, but who won’t cut corners. Aesthetically appealing housing don’t always pass inspections – it’s important to make sure that the property is fit for sale or it may never close at your asking price.

Aesthetic Problems Are The Best Problems

If you’ve managed to find a home that’s in great condition but is visually unappealing, you may have found yourself an excellent fixer upper. Ugly carpet, old appliances, and tacky wallpaper are easy fixes that won’t eat up much of your budget or your time.

Asbestos, leaky water lines, a cracked foundation, or a rotted frame are examples of more significant issues that will require the help of a professional. Be wary when investing in a property that has one or several of these problems, as they are the kind of issues that snowball into larger costs and a longer timeline for repairs.

Ready to find a great fixer upper and tackle it as your next investment? Give me a call!  J.P. Cook – 602-320-4253.

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16948 W Palm Lane Goodyear, AZ 85395

$512,500

2 Beds

2 Baths

1,655 SqFt

Status Active

MLS # 6692693

Property Type Townhouse

Price Type --

*FULLY FURNISHED* Explore luxury living in this excellently appointed 2 bedroom + Den, 2 bathroom Villa, nestled in the prestigious Pebble Creek community, just 2 blocks away from the refreshing Oasis Pool Complex . Enjoy resort-stye amenities, such as 3 Golf Courses, 36 Pickleball Courts, 3 Pools and 2 Club Houses that are equipped with state of the art Fitness Centers. Immerse yourself in comfort and conveniences with this spacious open concept floor plan, that is perfect for entertaining. Modern furnishings and beautiful designer touches throughout include Quartz Countertops, Hardwood Flooring in the owners suite and den, Stainless Steel Appliances, Shutters at all the windows, Water Softener and R/O System. The 2 car garage is expanded with plenty of room to park. Relax on the secluded and charming back patio that's equipped with outdoor TV, the perfect retreat after a day of enjoying all that Pebble Creek has to offer

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1637 Camino Cangrejo -- Rio Rico, AZ 85648

$512,500

3 Beds

2 Baths

2,177 SqFt

Status Active

MLS # 6687142

Property Type Single Family Residence

Price Type --

Beautiful hillside home with stunning views of the Rio Rico valley. This home has many custom touches inside and outside. From the mesquite breakfast bar, copper overlay counters & copper sink in the kitchen; to the custom medal doors & exterior metal artwork. This is a must see if you are looking for paradise on a hillside.

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20116 W Exeter Boulevard Buckeye, AZ 85396

$512,093

4 Beds

2 Baths

2,370 SqFt

Status Active

MLS # 6672187

Property Type Single Family Residence

Price Type --

Explore this impressive Raleigh home, ready for quick move-in on a homesite boasting driveway pavers and front yard landscaping. Included features: a welcoming covered porch; a bedroom and bathroom in lieu of a study and powder room; a gourmet kitchen offering a double oven, 42'' cabinets, stainless-steel appliances, quartz countertops, a walk-in pantry and a center island; an open dining area; a spacious great room; a lavish primary suite showcasing a generous walk-in closet and a private bath with cultured marble countertops; a convenient laundry; a storage area; a covered patio and a 2-car garage. This home also offers additional windows and ceiling fan prewiring in select rooms as well as airy 10' ceilings throughout.

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7151 E Rancho Vista Drive Scottsdale, AZ 85251

$512,000

1 Bed

1 Bath

806 SqFt

Status Active

MLS # 6699866

Property Type Apartment

Price Type --

luxury living in this stunning first-floor unit, boasting a sprawling patio that is sure to take your breath away. This gem is nestled just steps away from the renowned Fashion Square mall, the charming Old Town, the picturesque waterfront canal, and plenty of upscale dining options. Dive into sheer indulgence with not one, not two, but three heated pools and spas, including an indoor lap pool for year-round enjoyment. Your furry companions will delight in their very own private dog park.Fitness enthusiasts will be in paradise with access to a 24,000 square foot state-of-the-art fitness center, complete with the latest equipment for all your workout needs HOA fees cover a range of amenities and services, including cable TV, water, sewer, gas, on-site concierge, business center, security, blanket insurance policy, and exterior window washing.

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5220 W Hartford Avenue Glendale, AZ 85308

$512,000

4 Beds

2.5 Baths

2,054 SqFt

Status Active

MLS # 6704494

Property Type Single Family Residence

Price Type --

4 Bedrooms + loft in highly desirable area Large corner lot with mature trees and plants. One bedroom has been converted to office . Kitchen has island, custom counter tops and maple cabinets. Custom built-in cabinets in office & loft. Master bedroom has balcony access. Newer floor tiles in master bathroom, separate shower & tub. Security system. Newer dishwasher & disposal. Freshly painted interior. Cabinets in garage. Washer-dryer included. A must see. Close to shopping, schools & freeway..

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1650 E Ponderosa Parkway Flagstaff, AZ 86001

$511,095

2 Beds

2 Baths

1,260 SqFt

Status Active

MLS # 6633189

Property Type Apartment

Price Type --

POPULAR 2-bedroom on 1st floor. Ponderosa Parkway is located close to downtown and NAU. The Urban Trail system will take you all over Flagstaff on foot or bike in minutes! FIRST RESPONDERS & MILITARY receive additional incentives! Call for your private tour today! Visit our Sales office/Model Home in Bldg. 3, Unit 111

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5510 W Summerside Road Laveen, AZ 85339

$510,990

4 Beds

3 Baths

2,150 SqFt

Status Active

MLS # 6697220

Property Type Single Family Residence

Price Type --

Introducing the Sage plan, a stunning 4-bedroom, 3-bathroom home with a den, spanning 2150 square feet of modern desert living. Boasting a sleek paver driveway and contemporary exterior, this residence offers both style and functionality.Step inside to discover the exquisite wood-look tile flooring that flows seamlessly throughout the open-concept floor plan. The kitchen is a focal point of elegance, featuring a striking contrast of grey cabinets on the island and white cabinets elsewhere, with upper cabinets reaching an impressive 42 inches in height. Adorned with a chic beige/grey backsplash and luxurious white quartz countertops, this space is as beautiful as it is functional. Enhanced with upgraded matte black door hardware and bath finishes, every detail of this home exudes sophistication. Entertaining is a breeze with a 4-panel sliding glass door leading to the backyard oasis. The split floorplan ensures privacy, with two secondary bedrooms located up front, a third tucked beside the den, and the primary suite positioned at the rear. Indulge in the comfort of the primary bath, complete with double vanities, a walk-in shower, and a spacious walk-in closet. Additional features include a 3-car tandem garage, providing ample space for vehicles and storage. Don't miss the opportunity to make the Sage plan your own and experience the epitome of desert luxury.

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12535 N 172nd Lane Surprise, AZ 85388

$510,990

4 Beds

3 Baths

2,142 SqFt

Status Active

MLS # 6597938

Property Type Single Family Residence

Price Type --

STOP THE CAR... It's the Castellano, 4 bedrooms + flex space with full wall, 3 baths and 3 car tandem garage. Stone veneer at courtyard wall. Multi slide door at great room perfect for entertaining. Large walk in shower at owner's bath with tile surrounds. Stainless steel gas appliance package for the cook in the family. Tahoe Cherry Slate (grayish) cabinets with 42'' uppers in kitchen. Pull out trash drawer and rollouts at pantry. AZT Della Terra quartz countertops in kitchen including the enhanced kitchen island. Upgrade flooring includes MZT Via Piave Aura Cream 20x20 tile in all areas of the home except bedrooms & closets. Dual sinks at bath 2. Interior two tone paint ''Agreeable Gray''. Gas drop at dryer, future BBQ and much more. HOA fees are approximate.

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4601 E Scott Avenue Gilbert, AZ 85234

$510,950

3 Beds

3 Baths

2,173 SqFt

Status Active

MLS # 6705798

Property Type Single Family Residence

Price Type --

STUNNING MOVE-IN READY 3 BED / 3 BATH...PLUS DEN...HOME IN SOUGHT AFTER GILBERT!!! Don't miss your opportunity to live in Town Meadows Community in Gilbert. Over 80k in upgrades include new AC unit, remodeled kitchen, Quartz counter tops, remodeled bathrooms and new carpet. This home also has a spacious backyard for entertainment with a huge covered patio, built-in fireplace and much more. House is also close to shopping, schools, restaurants and near by parks. This turn key ready home won't last long on the market. Make it yours today.

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23764 N 162nd Avenue Surprise, AZ 85387

$510,641

3 Beds

3 Baths

2,501 SqFt

Status Active

MLS # 6674749

Property Type Single Family Residence

Price Type --

Gorgeous ESCALANTE Community, SILVERSMITH Plan, 3 bedroom, Double Door Den, 3 Baths, 2 Car Garage, 9 Foot Ceilings On Both Floors, 8 Foot Interior Doors, Gourmet Kitchen, VERY NICE UPGRADED FLOORING, CABINETS, COUNTERTOPS and APPLIANCES, 2 Inch Pearl White Blinds, Ceiling Fans In All Rooms. Energy Star Qualified Home, Indoor Air Plus, 8 Foot Tall Garage Door, Located A Short Distance From The Community Pool Area, Picnic Area, Tot Lots, Basketball, Pickle Ball Courts And So Much More. Great Schools And New Shopping Center Nearby. FRY'S Marketplace, Full Builder Warranty.

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3397 W Verde River Road San Tan Valley, AZ 85144

$510,600

4 Beds

3 Baths

1,917 SqFt

Status Active

MLS # 6678795

Property Type Single Family Residence

Price Type --

Newly completed spec home with very nice upgrades including plank tile flooring, beautiful kitchen cabinets, Quartz countertops, front yard landscaping, and much more. Promenade Master Planned Community by Fulton Homes is located within minutes of major shopping, restaurants and freeways. The community is at the base of the San Tan Mountain Preserve. There are six parks throughout the community, one of which is an Aquatic Center with a 7,400 square foot pool. Full basketball and sand volleyball courts. Bocce ball court, Pickle Ball court and Corn hole. Several Ramadas, Tot Lots and BBQ's. Waterfall entry and acres of landscaped and grass areas make this community your oasis in the desert.

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22728 N 184th Lane Surprise, AZ 85387

$510,395

4 Beds

3 Baths

2,644 SqFt

Status Active

MLS # 6646489

Property Type Single Family Residence

Price Type --

Gorgeous New Home. This home backs up to the desert ,so no homes right behind it. Large Floor Plan. 4 Bedrooms, 3 Full Baths. Study. Large Kitchen Island, Quartz Counter Tops. Tile throughout, carpet in bedrooms only. Full Patio on back of home with oversized slider to backyard. Mountain Views. 3 CAR GARAGE. Hurry this home will go quickly, last of its floor plan!! High Performance Home with smart technology, makes it so you can truly live in your element!!!!

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