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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12610 N 41st Drive Phoenix, AZ 85029

$499,000

3 Beds

2 Baths

1,468 SqFt

Status Active

MLS # 6678767

Property Type Single Family Residence

Price Type --

NO HOA!! MAGNIFICIENT GEM. This house is perfect. Fully replaced roof 2019. Newly installed tankless water heater in 2023 with owned soft water system in 2022. Brand new carpet in living room and master bedroom. Pool has a brand new variable speed pump in 2023. Owners spared no expense creating 2 RV gates with concrete slab, electric and dump. Built in garage cabinets for tons of storage with epoxy floors. Garage is plumbed for compressed air to outside lift area that has a 10,000 pound Benpak lift including epoxy coated concrete for easy clean up. Exterior custom built shed has electric, lighting, ceiling fan, epoxy floors, and is fully insulated with attic storage. Fresh paint inside and out including the shed. Networking throughout. This house won't last long. OWNER AGENT

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15252 N 100th Street Scottsdale, AZ 85260

$499,000

3 Beds

2 Baths

1,607 SqFt

Status Active

MLS # 6683686

Property Type Apartment

Price Type --

Welcome to this spacious and inviting 3-bedroom, 2-bathroom condo nestled in the heart of Scottsdale. Upon entry, you'll find a well-designed floor plan that seamlessly combines comfort and functionality. The living area boasts ample natural light and a cozy ambiance, perfect for relaxing or entertaining guests. The modern kitchen is a highlight, featuring sleek countertops, beautiful appliances, and plenty of cabinet space for storage. The adjacent dining area is ideal for family meals or intimate gatherings. The primary bedroom is a private retreat, complete with a walk-in closet and an en-suite bathroom featuring dual sinks and a luxurious shower. The two additional bedrooms are generously sized and offer flexibility for use as guest rooms, a home office, or a hobby sp hobby space. Step outside to one of two private balconys and enjoy a peaceful outdoor oasis, perfect for morning coffee or evening relaxation. Residents of this community enjoy access to fantastic amenities, including a refreshing pool, a tennis court, and beautifully landscaped grounds. Conveniently located, this condo is just minutes away from shopping centers, dining options, parks, and recreational activities, offering the best of Scottsdale living at your fingertips. Don't miss the opportunity to make this condo your new home. Schedule a showing today and experience its charm and comfort firsthand! All furniture currently in the condo is included in the sell!!

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26033 W Sierra Pinta Drive Buckeye, AZ 85396

$499,000

3 Beds

2.5 Baths

2,669 SqFt

Status Active

MLS # 6665078

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the Festival Foothills, where luxury and comfort seamlessly blend in this former builder ''show home.'' This exquisite single-level residence boasts 3 bedrooms, 2.5 baths, an office, a family room, and a den, providing the perfect canvas for a harmonious and versatile living experience. As you approach this meticulously crafted home, you'll be captivated by its stunning curb appeal. Step through the front door into a world of refined living, where every detail has been carefully considered. This home is conveniently located near a school, making it ideal for families. Golf enthusiasts will appreciate the proximity to the nearby golf course, while parks and walking trails provide opportunities for leisurely strolls and outdoor activities.

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5450 E Mclellan Road Mesa, AZ 85205

$499,000

3 Beds

2 Baths

1,803 SqFt

Status Active

MLS # 6668321

Property Type Apartment

Price Type --

Welcome to ''The Sanctuary'' in peaceful setting of Alta Mesa Resort Village, one of a kind, private-gated community in North Mesa. Created as a Winter getaway for Owner/family. Seller has spent 5 years handpicking the finest furnishings & updates to his award winning & visionary taste. Every detail has been attended to, making this lovely home a perfect turnkey ''Sanctuary'' for those who are looking for more than just a ''place to eat/sleep'' Unique/Custom floorplan w/ more upgrades than any home in here maximizing space & efficiency. Completely NEW HVAC system! New Tankless water heater! Quartz counters w/ waterfall & Custom Glass bfast bar! Frosted glass doors, Picture Tv's everywhere! SuperSmart home w/ ALL AUTOMATED! 1 HUB/7dots to serve your every command. HOA=water/sewer/cable/wrk

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5818 S 55th Glen Laveen, AZ 85339

$499,000

4 Beds

2 Baths

2,099 SqFt

Status Active

MLS # 6690340

Property Type Single Family Residence

Price Type --

This 4 bedroom, 2 bath, 3 car garage home with a split floor plan is on a 10,000+ square foot lot in a gated community! Home also features dual pane windows, 2 inch wood blinds, ceiling fans throughout, paneled doors, and upgraded carpet. Large backyard with a covered patio and space for a pool. Just a couple of minutes from the 202 loop, you have quick and easy access to major major venues, dining, and shopping in both the east and west valley!

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3620 E Sumner Place Rimrock, AZ 86335

$499,000

3 Beds

2 Baths

1,716 SqFt

Status Active

MLS # 6672634

Property Type Single Family Residence

Price Type --

This stunning brand new 3 bedroom/2 bath home is in the pristine gated community of Beaver Creek Preserve in Rimrock AZ. Beautifully done Open floor plan with granite/quartz countertops, kitchen island, wood cabinetry and lots of storage and tile flooring. Private back Patio. Huge RV Storage! No RV? Then sky's the limit of what you can do with that space! Storage for your motorcycles, ATV's, Golf Carts! Turn it into a sports Room w/pool table, Ping-Pong, Man Cave, or add a platform for more storage, build a loft, Car lift.. really anything! Great private space between neighbor's min 20ft easements. Clubhouse offers pool tennis, Lounge area, BBQ for all you Friends and Family! Great location just off the freeway, Peaceful and Quiet! 20 min to Cottonwood, 25 min to Sedona, 1 hr to Flagstaff Lots of hiking trails, fishing and just beautiful scenery! ** Price reflects a 30K incentive reduction by using the builders preferred lender! **Come check it out! Make us an offer today and we can make it work!

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5346 W Posse Drive Eloy, AZ 85131

$499,000

3 Beds

3 Baths

2,139 SqFt

Status Active

MLS # 6674842

Property Type Single Family Residence

Price Type --

FULLY FURNISHED! Beautiful home w/detached casita (bedroom, bath & closet) perfect for friends visiting or a hobby room. Entertainers backyard features a gas fireplace, remote sun shades on patio, beautiful water feature & built in BBQ. Low maintenance synthetic grass, extended paver patio, orange & lime trees! Paver courtyard leading to casita & main entry. 2.5 car garage has a 4 ft ext., epoxy, built in cabinets, sink & service door w/a security door. Den has built in shelving. Spacious laundry room w/lot of cabinets. Bay windows in the master & guest room. Great room has a gas fireplace & built-in shelving. Too many upgrades to list them all. This home comes fully furnished, everything stays & is move-in-ready!

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4112 N 6th Avenue Phoenix, AZ 85013

$499,000

3 Beds

2 Baths

1,215 SqFt

Status Active

MLS # 6679324

Property Type Single Family Residence

Price Type --

Just steps from Phoenix's Melrose District awaits your new home. This remodeled gem boasts 3 beds, 2 baths, and a 1 car garage with easy entry. The kitchen stuns with quartz countertops and new cabinets. Gas stove enthusiasts will love the eat-in kitchen. Enjoy vinyl wood flooring and elegantly redone bathrooms. Dual pane windows flood the space with light. Outside, a covered patio offers endless entertainment possibilities. With Melrose's amenities nearby, embrace a lifestyle of culture and charm.

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15 Maxfield Avenue Bisbee, AZ 85603

$499,000

2 Beds

2.5 Baths

2,636 SqFt

Status Active

MLS # 6680430

Property Type Single Family Residence

Price Type --

An exceptional 1915 structure positioned at the end of the brick road. Exterior walls are large Tufa blocks (a limestone material mined around Douglas, AZ); roof is corrugated metal; interior floors are pine and/or Douglas Fir and Oak. Windows are original, with wavy glass. Ceilings typically 10', except 12' at main bathroom; and 16' at kitchen. Upper level has generous space and light. Sitting rooms, Kitchen, Shower no Tub in Master bath, half bath in hallway, laundry and carport. Lower level was left in its original configuration and consists of a sitting room; bathroom; bedroom; and a partial undeveloped basement. All utilities - water, electrical, waste/drainage - were replaced. Exterior stairs connect upper and lower levels. A few mins walk to downtown Bisbee.

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20825 W Hubbell Street Buckeye, AZ 85396

$499,000

5 Beds

3 Baths

2,327 SqFt

Status Active

MLS # 6681621

Property Type Single Family Residence

Price Type --

Better than new home in Verrado with 5bed/3 bath for under $500K. 12 X 24'' tile throughout most of the downstairs with a full bedroom and bath on the main level.Beautifully upgraded kitchen with quartz counters, herringbone tiled backsplash and stainless steel appliances w/gas range. Plantation shutters throughout the home. Large loft with four bedrooms and two baths upstairs. Enjoy all the amenities that the master planned community of Verrado has to offer with convenient access to restaurants, freeway, shopping/Costco and the new Verrado Marketplace coming next year!

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1510 W Mission Drive Chandler, AZ 85224

$499,000

3 Beds

2 Baths

1,472 SqFt

Status Active

MLS # 6684075

Property Type Single Family Residence

Price Type --

Welcome to this unique Chandler home in an HOA-free neighborhood. Enjoy vaulted ceilings, natural light, and solid hardwood flooring. The master bathroom was custom built with solid Teakwood cabinets, new countertop & new shower flooring. The wood accents T/O this home are complimented by the mature Mesquite, Sweet Acacia, and Olive trees, which has a 10 x 12 treehouse built 10 feet off the ground. The laundry room offers extensive storage. Two 30 gallon Britta soft water filtration tanks. New S/S appliances throughout the home. Covered hot tub for relaxation. Breezeway garage leads to patios. Alley access with dumpsters. Amazing 2 way view fish tank between master and great room. Corner lot with views of school and park. Experience fun & unique.

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1460 N Balboa -- Mesa, AZ 85205

$499,000

3 Beds

2 Baths

1,584 SqFt

Status Active

MLS # 6689627

Property Type Single Family Residence

Price Type --

Nestled in the sought-after community of Cooper Crest, this stunning single-level residence boasts 3 bedrooms, 2 bathrooms, and a 2-car garage. A pinnacle of modern living, this Energy Star-certified home exudes elegance with its premium North/South facing lot, ensuring privacy without rear neighbors. Step inside to discover 9-foot ceilings that elevate the sense of space. The house features tile flooring throughout, adding a touch of luxury and easy maintenance. The kitchen is a chef's delight, with upgraded cabinets, granite countertops, a gas stovetop, and a sprawling island. Adorned with a tiled backsplash and undermount sink, every detail speaks of quality craftsmanship. The primary bedroom with an ensuite bath has dual sinks, a walk-in shower with cultured marble surround, plus a walk-in closet with plenty of room for all your clothes. The two guest bedrooms each feature walk-in closets and share a spacious bathroom. French doors lead to an extended covered patio with a gas BBQ stub, perfect for outdoor entertaining. Enjoy community amenities such as a pool, soccer field, and playground. Conveniently located near shops, restaurants, and top-rated schools, with easy access to Loop 202 and US-60. Don't miss out on this opportunity to own a stunning home with a split floor plan!

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