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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4809 E Fire Opal Lane San Tan Valley, AZ 85143

$499,700

3 Beds

2 Baths

2,228 SqFt

Status Active

MLS # 6677812

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the Village at Copper Basin Community of San Tan Valley! This stunning 2019-built residence boasts 3 bedrooms and 2 bathrooms, offering a perfect blend of modern design and functionality. The kitchen is complete with granite countertops, a large island, and a stainless steel appliance package. It seamlessly flows into the spacious great room, creating an ideal space for family gatherings and entertaining guests. The oversized primary suite is a true retreat, featuring ample room for a sitting area or home office with views of the pool, dual sinks in the en-suite bathroom, and a generous walk-in closet. The original 4th bedroom has been ingeniously merged to create an oversized double master feel, perfect for accommodating guests, setting up a home gym, or creating a cozy man-cave. Step outside through the glass sliding doors to discover your private backyard oasis. Enjoy lazy afternoons under the covered patio, take a refreshing dip in the PebbleTec SHASTA pool, or let the kids and pets play freely on the lush turf area. Plus, benefit from added privacy as the home backs to a park. This home offers not just a place to live but a lifestyle of luxury and comfort. Don't miss the opportunity to make it yours!

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1335 W Monroe Street Phoenix, AZ 85007

$499,600

3 Beds

2 Baths

1,628 SqFt

Status Active

MLS # 6652210

Property Type Single Family Residence

Price Type --

Imagine residing in a home drenched in historical charm in Phoenix's Woodland Historic District. This abode is more than just a dwelling; it's a gateway to yesteryears, yet infused with contemporary comforts. Greeting you is an inviting front porch, leading to a living area where the original fireplace kindles tales of old. Across, the dining space reverberates with stories of grand meals past. Venturing further, you'll discover bedrooms that murmur ancient secrets, alongside a master suite that epitomizes today's opulence. The upper level hosts a generous bedroom, a blank slate for your creativity. Just a stone's throw from the Arizona Capitol, this location offers swift access to governmental hubs, entertainment arenas, and the lively downtown scene. Seize the chance to claim a slice of Phoenix's heritage in a neighborhood buzzing with renewal and rejuvenation.

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2480 S Pinegrass Road Show Low, AZ 85901

$499,500

2 Beds

2 Baths

1,492 SqFt

Status Active

MLS # 6684591

Property Type Single Family Residence

Price Type --

BRAND NEW HOME TO BE BUILT! This virtual listing is an example of what we will build for you. Let's build you this beautiful custom home in Torreon for under $500,000 with standard features like stainless steel appliances, granite, soft close cabinets, LVP floors, walk-in shower, great room, LP Smart Siding (no staining), Trex deck, iron railing, AC, gas heat, covered back deck and more. Some interior & exterior selections can be made by the buyer. Great pine trees on this lot. To be built with buyer's cash or construction loan. We have lenders to accommodate this lot/home package. Estimated build time is 12 months from permits. We can also help design a custom home if you prefer. Other lots available. Call for details.

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2817 E Hidalgo Avenue Phoenix, AZ 85040

$499,500

3 Beds

2 Baths

1,744 SqFt

Status Active

MLS # 6695528

Property Type Single Family Residence

Price Type --

Don't miss this former Model from the award-winning home builder Ca-Atlantic Homes. This former model home has all the builder upgrades all put into one of their most popular floor plans. This open great room flow creates a dynamic of comfort and ease for family and guests. The 16' wall of glass opens to a spectacular indoor/outdoor experience. This home interior is loaded with designer touches and upgrades like 42'' upper cabinets, Kitchen Aid S/S appliances, Under cabinet lighting, upscale, Recessed lighting, Plank Tile flooring, Crown molding, Security System, Surround sound, Designer flooring, upgraded Shower, designer touches and designs explodes the minute you walk in this home. Exterior touches include Full paver patio, Professional landscape design, Fire pit, amazing patio.

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7219 E Kramer Street Mesa, AZ 85207

New

$499,500

4 Beds

2.5 Baths

1,790 SqFt

Status Active

MLS # 6697684

Property Type Single Family Residence

Price Type --

Renovated! This property is in stunning condition and has had plenty of work done as of late. This includes but is not limited to - New interior Paint, AC Unit, Water Heater, Flooring, Carpet, A fully loaded kitchen, Master Bath, and upstairs bathroom, new master closets, and synthetic turf. This home is extremely welcoming and ready. Ideal for families as it is gated and boasts a community pool.

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20434 W Meadowbrook Avenue Buckeye, AZ 85396

$499,500

2 Beds

2 Baths

1,657 SqFt

Status Active

MLS # 6625864

Property Type Single Family Residence

Price Type --

VICTORY living is yours in this stunning 2022 build Lennar home! 1657 SF of living space gives you 2 beds, 2 bath with a huge bonus room that can be used as a formal dining room or a spacious office/den! Tile floors everywhere but bedroom 2 and closets! Stunning white theme kitchen with stainless steel appliances, quartz counters and under cabinet LED lighting! Spacious main living area is an entertainers dream! Let the fun spill out into the backyard where your oversized covered patio is paired with a professionally installed hardscape patio just perfect for a outdoor dining set and BBQ! Views of the White Tank Mountains from your back yard and a beautiful wash/greenspace between you and your back neighbor! Enjoy the tankless gas water heater for UNLIMITED hot water!

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9807 E Axle Avenue Mesa, AZ 85212

$499,500

3 Beds

2.5 Baths

2,100 SqFt

Status Active

MLS # 6681954

Property Type Single Family Residence

Price Type --

Welcome to this lovely 3-bedroom, 2.5-bath residence in Eastmark! You'll be greeted by a spacious great room with high ceilings, efficient recessed lighting, plantation shutters, a cool color palette, and attractive wood-look flooring. The kitchen is equipped with quartz counters, ample cabinetry with crown molding, a brick backsplash, sleek stainless steel appliances, a pantry, and an island with a breakfast bar for casual dining. You'll also find a versatile den ideal for an office or study, but could be converted to another bedroom. The master bedroom is spacious with a custom bathroom, equipped with walk-in shower, a relaxing soaking tub, and a walk-in closet. Outside, the backyard is an enchanting haven featuring a paver patio and low-maintenance artificial turf.

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308 E Devon Drive Gilbert, AZ 85296

Open House

$499,500

3 Beds

2 Baths

1,557 SqFt

Status Active

MLS # 6681999

Property Type Single Family Residence

Price Type --

Welcome to this newly updated home! Minutes to down town Gilbert restaurants and shopping! Split floor plan with freshly painted interior and exterior, new electrical panel, sparkling pool with repaired and resurfaced pool cool deck, new outdoor patio carpet, new outdoor patio shades, and much more. Welcome home!

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142 E Leland Road San Tan Valley, AZ 85140

$499,490

4 Beds

3 Baths

2,568 SqFt

Status Active

MLS # 6695583

Property Type Single Family Residence

Price Type --

YOU HAVE TO SEE THIS ONE OF A KIND GATED COMMUNITY! Offering our unique Coastal Contemporary Elevations, this gorgeous 4 bed, 3 bath, home has a large Loft and Den, larger 2 car garage, dining and living area, neutral paint throughout, and much more! The kitchen is a cook's dream come true! With its ample cabinetry, HUGE pantry, granite countertops, tile backsplash, stainless steel appliances, and lovely island with breakfast bar. The fabulous master bedroom includes two walk-in closets and a full bath with double sinks as well as separate tub and shower, perfect for couples! Also including a large backyard with a cozy covered patio perfect for kicking back and relaxing after a hard day's work, this community simply has it all! Please ask sales agent for current promotions

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3764 N 304th Avenue Buckeye, AZ 85396

$499,406

3 Beds

3.5 Baths

2,713 SqFt

Status Active

MLS # 6689356

Property Type Single Family Residence

Price Type --

REDUCED to SELL! You'll LOVE this beautiful 3-bed, 3.5-bath home in Tartesso! Displaying a desert landscape, cozy courtyard, & a 3-car tandem garage w/shelving. Discover a desirable open layout showcasing a fireplace, plantation shutters, abundant natural light, neutral palette, and tile flooring w/carpet in bedrooms. The kitchen boasts granite counters, recessed lighting, a pantry, ample wood cabinetry, island w/breakfast bar, and built-in appliances w/cooktop gas & wall ovens. The two main bedrooms have their own unique features! Both have private bathrooms; one has outdoor access, while the other has a separate sitting room. PLUS! This gem offers two dens, one includes built-ins. Enjoy the backyard oasis with a covered patio, Pergola, well-laid pavers, & sparkling pool! SOLAR PANELS are added perks! Just WOW!

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21301 W Roanoke Avenue Buckeye, AZ 85396

$499,306

3 Beds

2.5 Baths

1,920 SqFt

Status Active

MLS # 6692077

Property Type Single Family Residence

Price Type --

Welcome to your TO BE BUILT 3-bed, 2.5-bath mountain-view haven with a flex room. Nestled on The White Tank Mountains, enjoy privacy and views. North/South orientation. This energy-efficient home boasts SPRAY FOAM insulation, SOLAR READY, and an electric car charger drop. Gas appliances, granite countertops. Owner's suite features a walk-in super shower. 12' sliding glass wall seamlessly connects indoor and outdoor living. Ideal for entertainers or those seeking privacy. 10' ceilings and 8' doors throughout create modern luxury with sustainability commitment. HOA dues include community pool, jacuzzi, clubhouse, and gym! Pictures not of subject property.

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972 N Sherwood Way Queen Valley, AZ 85118

$499,300

3 Beds

2 Baths

1,614 SqFt

Status Active

MLS # 6532415

Property Type Single Family Residence

Price Type --

***REDUCED NOW AVAILABLE!!! RARE NEW CUSTOM HOME WITH SUNRISE & SUNSET VIEWS GOLF COMMUNITY HOME! NEWLY BUILT HOME WITH PREMIUM FINISHES! Minutes away from first fairway. Located at 972 N Sherwood Way, Queen Valley Arizona 85118 within freeway access to all sunny Phoenix metro valley areas, a get away to breathtaking views. All NEW premium construction, all white chef's kitchen! Look no further than this stunning all new 3-bedroom, 2-bath home with sweeping vista views! Nestled on a quiet street amidst rolling hills and stunning vistas from almost every window. This small quiet community offers residents the chance to live and play in one of the most picturesque settings imaginable. With quaint hiking trails and an affordable opt in or out of beautiful 18-hole golf course, A MUST SEE...

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