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

Thinking about a 'Fixer Upper'? Understanding the Balance Between Purchase and Reno CostsFixer 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.

Click Here to See What Your Home is Worth

21427 W Monte Vista Road Buckeye, AZ 85396

$479,850
3 Beds
2 Baths
1,843 SqFt
Status Active
MLS # 6666064
Property Type Single Family Residence
Price Type --
Welcome to this charming home in Siena Hills with mountain views from the back patio!! Fully Owned Solar panels! This home boasts 3 bedrooms, 2 bathrooms, and beautiful neutral tones throughout. As you enter the home you will appreciate the open layout with a dining room and great room. The kitchen has been beautifully upgraded featuring granite countertops, stainless steel appliances, recessed canned lighting, tile backsplash, refinished cabinets, a peninsula breakfast bar, and a center island with a breakfast bar! 18 feet of additional top and bottom cabinets were added to the kitchen wall along with granite countertops, you will love the additional cabinet and counter space! The garage was transformed into a stunning great room with fire suppression Air decks, insulation, and outlets done to code. The primary suite is spacious with a walk-in closet and an ensuite bathroom with a dual sink vanity! Bedrooms 2 and 3 are spotless and move-in ready! The laundry room is fitted with cabinets! The backyard is easy to care for with a covered patio complete with a fan, pull-down shades, and stunning mountain views that are easily admired through the wrought iron view fencing. This home is gorgeous, do not miss out! Sienna Hills is a beautiful community with a pool, clubhouse, and fitness center! Just a few miles to the Skyline Regional trails! Plus, close to the freeway for easy access to dining, shopping, and entertainment!

16036 N 11th Avenue Phoenix, AZ 85023

$479,800
4 Beds
2.5 Baths
1,678 SqFt
Status Active
MLS # 6668633
Property Type Single Family Residence
Price Type --
wonderful property with great floor plan* new paint inside**the stairs and all top floor has new flooring** the downstairs offers a 1/2 bath**tile t/o** master has walk in closet with dual sinks with tub and shower**fan in bdrms**ac is 4 yrs old with digital wi-fi thermostat**this property has an extended lot is located on a cul-de sac. Nice fountain on the back surrounded by a block wall** it sits within walking distance to the pool house and mail. community has lots green areas ready to move in. THIS COMUNITY SITS CLOSE TO MOON VALLEY..

3310 N Emerald Creek Drive Florence, AZ 85132

$479,749
4 Beds
3.5 Baths
3,774 SqFt
Status Active
MLS # 6664970
Property Type Single Family Residence
Price Type --
Explore this lovely 4-bedroom, 3.5-bathroom home in Florence, AZ. It has a nice open layout with lots of natural light, crown molding and shutters. The kitchen has modern appliances. The master bedroom has its own bathroom and walk-in closet. Outside, there's a big backyard with a covered patio and pretty landscaping. It's close to parks, schools, and stores. Come see this cozy home today!

22745 N 184th Lane Surprise, AZ 85387

$479,736
4 Beds
3 Baths
2,750 SqFt
Status Active
MLS # 6643681
Property Type Single Family Residence
Price Type --
Gorgeous New Home. Large Floor Plan. 4 Bedrooms, 3 Full Baths. Study. Large Kitchen Island, Quartz Counter Tops. Tile throughout, carpet in bedrooms only. Garden Tub/Walk-in Shower in Primary. Hurry this home will go quickly, last of its floor plan!! This home is located in North Copper Canyon that offers a community pool. The Villages by Landsea Homes!! High Performance Home with smart technology, makes it so you can truly live in your element!!!!

8346 N 174th Lane Waddell, AZ 85355

$479,550
3 Beds
3 Baths
2,040 SqFt
Status Active
MLS # 6650201
Property Type Single Family Residence
Price Type --
Single Story, 2-Car Garage, 3 BR, Den w/Double Doors and Tile, 3 Bath, LARGE lot, Extended Covered Patio, 36'' Skylar Shale Cabinets, Oceana Quartz Countertops, Under Cabinet LED Kitchen Lighting, 6 x36 Medium Gray Tile Flooring, Flannel Gray Carpeting, Faded Grey Interior Paint, SS Gas Range Double Oven Slide-In Appliance Package, ,Holiday Pkg, Laundry Room Cabinets with Sink, Soft Water Pre-Plumb, Gas Stub for future BBQ, Ext Color Scheme #12

5376 N Comanche Drive Eloy, AZ 85131

$479,500
2 Beds
2 Baths
1,751 SqFt
Status Active
MLS # 6541101
Property Type Single Family Residence
Price Type --
Furniture Included! Attention Golf & Pickleball Enthusiasts! Beautiful appealing home on desirable Golf Course Lot! Feels like a new home! Rare, barely lived in second home. 2 Bedrooms, 2 Bathrooms with Den. Very spacious Great Room, Dining Room, open Kitchen with an abundance of natural light. Enjoy sitting on your back entertaining patio that opens to an open space/golf course. Community offers, Clubhouse/Rec Room, Golf Course, Tennis Courts, Pickleball Courts, Heated Community Pool & Spa & Guarded Entry. Don't miss out on owning this move-in ready home!

16915 W Granada Road Goodyear, AZ 85395

$479,500
2 Beds
2.5 Baths
1,875 SqFt
Status Active
MLS # 6633248
Property Type Townhouse
Price Type --
$10,000 Seller Concessions to use as YOU wish!!! This beautiful 2 bedroom 2.5 bath Villa with Den is located near the Oasis Pool complex. This light & bright open floor plan has many upgrades from the rarely seen solar tubes, to plantation shutters and lighted fans throughout. Kitchen features quartz countertops, slide outs in cabinets, extra large pantry & extra large island. Nearby butler's pantry makes this perfect for entertaining. Primary suite includes curbless shower, walk-in closet and dual sinks. Guest bedroom suite with bathroom allows privacy. Huge laundry room for added storage. Expanded South facing patio overlooks a mature park like setting. All appliances, water softener, giant TV, R/O & furniture included. ***Click More for more details*** Enjoy a life free from exterior maintenance worries, as the HOA expertly tends to landscaping, roof care, and the overall external well-being of the residence. After indulging in the wide array of amenities that PebbleCreek has to offer, retreat to your personal sanctuary - a haven that seamlessly blends comfort and the bliss of worry-free living.This is the perfect lock-and-leave sanctuary you've been waiting for! This very active Adult community includes - 3-18 hole golf courses, 40+ pickleball & tennis courts, State of the Art Fitness Center, Creative Arts Center, Multiple resort style pools and hot tubs, Casual dining, Billiards room, Bocce courts and more. Come take a look!

16189 N 137th Drive Surprise, AZ 85374

$479,500
3 Beds
2.5 Baths
2,117 SqFt
Status Active
MLS # 6638436
Property Type Single Family Residence
Price Type --
Gorgeously REMODELED and spacious home located in Surprise's West Point Towne Center. This GREAT home features 3 bedrooms, 2.5 baths, large loft with an entertainers dream kitchen. Loft provides endless opportunities for entertainment or office space. Huge master suite boasts a generously sized walk in closet and private bath. This home is located in the heart of Surprise and is a must see with high ceilings, adjacent green space and no houses behind it. Close to shopping, dining, entertainment with close access to the 303 and 101 freeways.

6881 W Sonoma Way Florence, AZ 85132

$479,500 - 5Br/4Ba -  for Sale in Merrill Ranch - Unit 53 2016008606, Florence
Open House
$479,500
5 Beds
3.5 Baths
3,197 SqFt
Status Active
MLS # 6667097
Property Type Single Family Residence
Price Type --
Experience luxurious living in the heart of Anthem at Merrill Ranch with this exceptional 5-bedroom, 3.5-bathroom home featuring an oversized den and abundant storage space. The kitchen opens to a spacious great room adorned with granite countertops, staggered espresso cabinets, and stainless steel appliances. The master suite and office are conveniently located downstairs, while the remaining bedrooms, along with an extended game room, are situated upstairs. Natural and recessed lighting, a soft water loop, tankless water heater, and solar panels further enhance the home's appeal. Schedule a viewing today to immerse yourself in the unmatched elegance and comfort offered by this remarkable property.

15538 W Hackamore Drive Surprise, AZ 85387

$479,425
4 Beds
2.5 Baths
1,837 SqFt
Status Active
MLS # 6676816
Property Type Single Family Residence
Price Type --
Come to Mason Ranch II in Surprise and discover our PRE-GRAND OPENING INCENTIVES!! Come and see this beautiful corner lot home with 4-bedrooms, 2.5 baths, 2-car garage and all appliances included!! This home features numerous upgrades, including white cabinets with hardware, kitchen granite countertops, full custom kitchen backsplash, large kitchen island, large single stainless steel bowl sink, stainless steel kitchen appliances, gas range, tile flooring, tankless hot water heater, 9' ceilings, 8' interior doors, soft water loop, a comprehensive smart home package, enhanced electrical package with cat 6 wiring,fan pre-wire ceiling in all bedrooms,and great room, pre-wire for pendant lights at kitchen island,2 flat screen pre-wire, garage keyless entry pad, and more! Est. move in May 2024

7300 E Earll Drive Scottsdale, AZ 85251

$479,000
1 Bed
1 Bath
864 SqFt
Status Active
MLS # 6607436
Property Type Apartment
Price Type --
Welcome to Inspire on Earll, a gated community perfectly situated in the heart of Old Town Scottsdale putting you incredibly close to some of the best restaurants, stores, galleries, and more! At home, you'll enjoy this ground level single bed & bath corner unit with one of the few large, oversized outdoor back patios in the complex, and with only one neighbor. Beautiful white shaker cabinets and quartz counter are accented by a gray subway tile backsplash and stainless steel. You and your guests can relax by the pool with shaded Ramada area, firepit, and hot tub, or take advantage of other community amenities such as the fitness center, lounge area, ping pong table, and outdoor grill. Most furniture is available on a separate Bill of Sale. Don't miss this opportunity!

9181 S Tequila Sunrise Road Hereford, AZ 85615

$479,000
4 Beds
2 Baths
1,987 SqFt
Status Active
MLS # 6604742
Property Type Single Family Residence
Price Type --
Home has had several upgrades since 2020..nice 4Br/2BA w/ NO CARPET..wood burning fireplace for those upcoming chilly nights..and it's piped for gas burner...granite counters..custom copper farm sink, high end appliances, bonus 'dry' room in garage, ideal for food storage, covered rear patio, block fenced back yard.. 40 x 42 shop, fully insulated w/half bath, office, 'safe room' free span construction. Concrete drive at shop and walkway to the house. Corner lot, NO HOA..horses welcome

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