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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21382 E Estrella Court Queen Creek, AZ 85142

$500,000

3 Beds

2 Baths

1,730 SqFt

Status Active

MLS # 6698740

Property Type Single Family Residence

Price Type --

Welcome to your dream home! This meticulously maintained residence is a true gem, boasting a level of quality that surpasses even new builds. Step inside and be greeted by NEW hardwood flooring, NEW carpet in bedrooms and NEW fresh white paint T/O. This home features 3 spacious bedrooms, providing ample space. Need a dedicated workspace or a cozy reading nook? You're in luck - there's also a versatile den that can easily adapt to your needs. With 2 bathrooms, mornings will be a breeze, offering convenience and functionality for your daily routine. And here's the best part - no neighbors behind you! Enjoy privacy and tranquility in your backyard retreat, perfect for entertaining or simply unwinding after a long day. Situated in an ideal location, this home offers easy access to all the amenities of Queen Creek. Whether it's shopping, dining, parks, or schools, everything you need is just moments away.

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7683 W Angels Lane Peoria, AZ 85383

$500,000

4 Beds

2 Baths

1,685 SqFt

Status Active

MLS # 6695276

Property Type Single Family Residence

Price Type --

A corner lot with a huge backyard offers plenty of space and potential for outdoor activities, gardening or to add a pool. A side gate for toys suggests convenient access and storage for recreational equipment. Plank-style flooring and natural light can enhance the interior ambiance, creating a warm and inviting atmosphere. And with 4 bedrooms and 2 baths, there's likely ample space for a family or guests. Overall, these features could contribute to excellent curb appeal and a comfortable living environment.

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4623 S 23rd Way Phoenix, AZ 85040

$500,000

3 Beds

2 Baths

1,628 SqFt

Status Active

MLS # 6700235

Property Type Single Family Residence

Price Type --

GATED COMMUNITY. FINISHED HOMES. Call for latest incentives and lot availability. With only 32 homes it is an excellent gated community to meet neighbors or even consider moving more of the family. Experience much of the entertainment of the city while being minutes from South Mountain and multiple golf courses. Granite or quartz for countertops and luxury vinyl plank flooring and carpet throughout the homes. All appliances included and the garage is even equipped with the power for an Electric Vehicle. Top it off with a dog door for your furry friend! Minimal effort will be required to enjoy these homes with the finished back yard and the front yard landscaping that is maintained by the HOA. Come see what this community has to offer! (Photos are of model)

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12101 N 141st Lane Surprise, AZ 85379

$500,000

4 Beds

2 Baths

2,062 SqFt

Status Active

MLS # 6692288

Property Type Single Family Residence

Price Type --

Seller is offering $10,000 to buy down interest rate with acceptable offer. Upgrades galore in this popular Richmond American Floorplan. Property has just been remodeled. Vinyl Plank flooring throughout, Freshly painted interior, Tile surrounding tub and showers, New countertops (square sinks) and fixtures in all bathrooms. Kitchen features Quartz countertops and all new Stainless steel appliances including a popular gas stove. Inside laundry features a Laundry sink and a hookup for either a gas or electric dryer. 3 car garage with electric openers for easy access and plumbed for a water softener. All this and solar too!

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4332 N 154th Avenue Goodyear, AZ 85395

$500,000

3 Beds

2.5 Baths

2,230 SqFt

Status Active

MLS # 6692205

Property Type Single Family Residence

Price Type --

Welcome to this beautiful Palm Valley home! Enjoy a large open concept living room and kitchen. The kitchen features an impressive island with a electric stove, sleek granite counters and custom french country cabinetry. The floors have been replaced completely throughout the home with luxury vinyl. Freshly painted in a neutral tone. As you walk to the front door you'll find a gated entrance with a spacious patio. The large den with french country cabinetry to match the kitchen makes the perfect office space. Enjoy a separate entrance in the primary bedroom in addition to the primary bathroom which features a large soak in tub complete with travertine tile throughout. This home is a fresh canvas with beautiful touches throughout!

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1046 S Sierra Street Gilbert, AZ 85296

Open House

$500,000

3 Beds

2 Baths

1,401 SqFt

Status Active

MLS # 6696454

Property Type Single Family Residence

Price Type --

AMAZING REMODEL in the heart of Gilbert! The minute you open the new front door & accompanying security door, you'll want to make this place YOURS! From the open concept plan to the vaulted ceilings & natural light from the NEW SLIDER, you'll be impressed with the attention to every detail. Modern QUARTZ COUNTERS & TILE BACKSPLASH the staggered cabinets. Tile throughout with 5'' baseboards, updated window coverings & newer lighting add to the clean style. Master features a CUSTOM TILE SHOWER, garden tub and new fixtures. Hall bath has an updated tub & there are newer vanities & toilets in both bathroom. Enjoy the shade of covered patio or sun on the extended paver patio. You'll love the energy efficiency of the HVAC - just 5 years old! WELCOME HOME!

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2301 N 127th Avenue Avondale, AZ 85392

Open House

New

$500,000

4 Beds

2 Baths

2,335 SqFt

Status Active

MLS # 6707149

Property Type Single Family Residence

Price Type --

Incredible opportunity for this well-maintained & super clean home! NEWER ROOF WITH WARRANTY! Spacious kitchen features quartz countertops & backsplash, gas stove & walk-in pantry. Huge master suite features a separate French door exit to the patio, bay window, extended shower with custom tile surround & glass block accents. Plank tile flooring. NEW INTERIOR & EXTERIOR PAINT. Newer baseboards. Newer faucets & door hardware. Remodeled baths include new mirrors & toilets. Vaulted ceilings, arched doorways & plant shelves with custom lighting. Laundry room cabinets. Sunscreens. 3 car garage w/ NEW epoxy flooring, NEWER garage doors & service door. Premium lot with no neighbors behind. Beautiful, front & back landscaping with mature trees & full-length extended patio with a gas stub & more!

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11326 E Sandoval Avenue Mesa, AZ 85212

Open House

$500,000

4 Beds

2 Baths

1,794 SqFt

Status Active

MLS # 6701291

Property Type Single Family Residence

Price Type --

Welcome to this appealing residence with a tasteful neutral color paint scheme that creates a welcoming ambiance throughout. The primary bathroom offers a relaxing experience with a separate tub and shower, double sinks, and the kitchen has beautiful stainless steel appliances, a kitchen island, and an accent backsplash for added style. Fresh paint and new appliances give the interior a like-new feel, ensuring reliability and quality. The primary bedroom features a generous walk-in closet for storage needs. Outside, the fenced-in backyard provides privacy and space for gardening or leisure activities, while the covered patio is perfect for relaxation. This residence embodies comfortable and modern living, offering a perfect balance of style and functionality for your enjoyment.

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2344 E Aldine Street Phoenix, AZ 85022

Open House

New

$500,000

4 Beds

2 Baths

1,525 SqFt

Status Active

MLS # 6706254

Property Type Single Family Residence

Price Type --

Beautifully Updated 4 Bedroom/2 Bath home in the heart of North Phoenix, w/No HOA! The spacious front courtyard welcomes you home! The stunning Kitchen opens to the Great Room & features Custom Cabinetry with Soft Close Drawers, Quartz Counters, Island w/Breakfast Bar, Stainless appliances, Pendant Lighting, & Slider Door. Bathrooms have been updated as has the flooring in main living & primary. Private Backyard with a Covered Patio & Artificial Turf offers plenty of room to relax & entertain! Corner Lot, 2 car Garage w/enclosed Laundry Room! Updates: 2024: New Roof, Garage Door Motor & Key pad, 2021: New HVAC, 2020: Exterior Paint, Interior Update inc Kitchen (see above updates), Bathrooms, Baseboards/Door, Interior Paint, Flooring. Great location & quick access to the 51. Welcome Home!

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1838 N Mitchell Street Phoenix, AZ 85006

Open House

$500,000

2 Beds

1 Bath

943 SqFt

Status Active

MLS # 6705755

Property Type Single Family Residence

Price Type --

Ready to put down roots in a vibrant, historic downtown community? This charming 2-bedroom, 1-bathroom home in the Coronado Historic District might just be what you've been searching for! With easy access to parks, shops, and restaurants, it offers the perfect blend of convenience and character. The 943 square feet feel surprisingly spacious, thanks to the open layout and clever use of separate spaces, like the cozy dining room nook. Sunlight pours in through the windows, illuminating the historic touches, such as the rounded wall corners, that give this home its unique charm. Come and make this place your own today—experience the warmth and character of the Coronado Historic District firsthand!

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14406 W St Moritz Lane Surprise, AZ 85379

Open House

$500,000

4 Beds

2 Baths

2,391 SqFt

Status Active

MLS # 6700941

Property Type Single Family Residence

Price Type --

Discover your own oasis in Royal Ranch, one of the most desirable communities in Surprise! This single-story gem features 4 beds, 2 baths, fresh paint, and has been meticulously maintained. The backyard paradise includes a pool, hot tub, waterfall, and misting system. With a 3rd car driveway, extended garage, and RV gate, there's ample parking for all. Just minutes from Surprise's attractions like Surprise Stadium, city center and Ottawa University. Don't miss out!

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133 W Latona Road Phoenix, AZ 85042

$499,999

4 Beds

2.5 Baths

2,126 SqFt

Status Active

MLS # 6686503

Property Type Single Family Residence

Price Type --

New Construction! Ask about how to qualify for $0 down and a 4.99% interest rate! Ascend Communities proudly unveils Latona Fontaine, where 11 meticulously crafted lots offer unparalleled vistas of the majestic South Mountain. Introducing the Sage floorplan, a spacious retreat spanning 2126 square feet with 9 foot ceilings on both floors. Inside, the open living area seamlessly connects the living room to the dining area, offering scenic views of South Mountain through large windows. Upstairs, find four bedrooms, plus a versatile loft, catering to your family's needs. The Sage floorplan is designed for modern family living, blending comfort, style, and functionality. Finishes in this home include luxury vinyl plank flooring throughout, can lighting, 40 soft-close white shaker cabinets in the kitchen, quartz countertops, gourmet kitchen backsplash, custom tile shower in the primary bathroom, black hardware throughout and pre-wiring for ceiling fans. Nestled at the intersection of Central Ave. and Baseline Rd. This vibrant community boasts an unbeatable location within walking distance of picturesque hiking trails at South Mountain, perfect for adventurous family outings. As an added delight, an exclusive pedestrian gate offers seamless access to the scenic highline canal, just a stone's throw away from your residence. Beyond nature's doorstep, enjoy seamless access to public transportation, urban conveniences, and easy connections to major freeways: Interstate 10, Interstate 17, and the 202. Embrace the best of both worlds - serene natural escapes and city accessibility, making Latona the ultimate choice for families seeking adventure and convenience.

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