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.

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15715 N 168th Avenue Surprise, AZ 85388

$464,000
4 Beds
2 Baths
2,166 SqFt
Status Active
MLS # 6662476
Property Type Single Family Residence
Price Type --
Nicely appointed home in the attractive Surprise community of Surprise Farms. 4 bedrooms, 2 bathrooms, with a sought after kitchen greatroom open concept along with a separate formal living and dining room. Light and bright kitchen comes with corian countertops, stainless appliances, large island with sink, and upgraded white cabinets. Master bedroom has a large walk-in closet, double sinks, step-in shower, soaking tub, and private toilet room. The 3 other bedrooms are generously sized and all have a dedicated closet. Convenient location to neighborhood parks, shopping, dining, entertainment, and all the amenities that up and coming Surprise has to offer. VA loan is assumable to Veterans, Non-Veterans, and Investors! $2692 Monthly, 5% Interest Rate, $443,562 Balance as of 4/10.

811 E Gold Dust Way San Tan Valley, AZ 85143

$464,000
4 Beds
3 Baths
2,287 SqFt
Status Active
MLS # 6668067
Property Type Single Family Residence
Price Type --
Prepare to be amazed! This fabulous 4 bed, 3 bath Centex built residence is the one you've been looking for! Stunning curb appeal, easy-care front yard, and a 2.5 car garage w/paver driveway and entry are just the beginning! The interior boasts a cozy living area w/soft carpet in all the right places, high ceilings, modern light fixtures, and designer palette throughout. Hone your cooking skills in this gorgeous kitchen, comprised of ample cabinetry w/granite counters, a pantry, stainless steel appliances, and an quarts island complete w/a breakfast bar. Upstairs you'll find a perfectly-sized loft, where you can enjoy a relaxing Sunday evening! The primary bedroom features a walk-in closet and lavish ensuite w/dual sinks for added comfort. The expansive backyard includes a covered patio and large grassy area; the perfect place for spending quality time w/friends and loved ones! The community comes with 3 pools, tennis courts, and soon it will have pickleball courts and a splash pad!

11037 W Hadley Street Avondale, AZ 85323

$463,995
4 Beds
3 Baths
2,070 SqFt
Status Active
MLS # 6657282
Property Type Single Family Residence
Price Type --
Explore this inspired Agate home, ready for quick move-in! Included features: an alternative layout featuring a fourth bedroom and third bathroom, a covered entry; a corner kitchen boasting an alternate layout, 42'' upper cabinets, stainless-steel appliances, a center island and an adjacent dining room; an inviting great room; an elegant primary suite showcasing a large walk-in closet and a private bath with double sinks; a central laundry; two secondary bedrooms with a shared bath; a cheerful covered patio and a 2-car garage. This home also offers 12x24'' stone tile flooring, quartz kitchen countertops cultured marble counter to, ceiling fan prewiring in select rooms, additional window in the dining room, coach lights, front yard landscaping and concrete pavers at the driveway and walkwa cultured marble counter tops other bathrooms. Ceiling fan prewiring in select rooms, additional window in the dining room, coach lights, front yard landscaping and concrete pavers at the driveway and walkway

17691 W Pueblo Avenue Goodyear, AZ 85338

$463,990 - 3Br/2Ba -  for Sale in El Cidro Phase 2 Parcel 1f, Goodyear
New
$463,990
3 Beds
2 Baths
1,754 SqFt
Status Active
MLS # 6693547
Property Type Single Family Residence
Price Type --
''Up to 3% of Base Price or total purchase price, whichever is less, is available through preferred lender.'' Presenting the Potenza floor plan, boasting three bedrooms and a luxurious glass shower in the owner's bath. Noteworthy structural elements include a soft water plumbing loop and an 8-foot garage door height, ensuring convenience and functionality. For the culinary enthusiast, a chef's kitchen awaits, complete with upgraded white cabinetry, quartz countertops, and a convenient gas stub. Enjoy the added comfort of window blinds throughout, plus washer, dryer, and refrigerator are included, allowing for a seamless move-in experience. Ready for occupancy in May, this home offers both elegance and practicality.

16048 W El Cortez Place Surprise, AZ 85387

$463,990 - 4Br/2Ba -  for Sale in Paloma Creek, Surprise
Open House
$463,990
4 Beds
2 Baths
2,139 SqFt
Status Active
MLS # 6594475
Property Type Single Family Residence
Price Type --
Brand new, energy-efficient home available NOW! This single-story features a split floorplan with the primary suite tucked away in the back of the home. Umber cabinets with white/grey granite countertops and multi-tone carpet in our Elemental package. Paloma Creek is now pre-selling in Surprise. There's fun for the whole family at the community clubhouse, pool, outdoor kitchen, and fitness center. Each energy-efficient home comes standard with features that allow your whole family to live better and breathe easier too.* Visit Paloma Creek today. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

9853 E Tamery Avenue Mesa, AZ 85212

$463,980
3 Beds
2.5 Baths
1,559 SqFt
Status Active
MLS # 6688282
Property Type Single Family Residence
Price Type --
A brand-new home under construction at New Home Co's Element community in Eastmark. Timeless cabinetry, and durable flooring enhance the value of this home and there is still time to modify interior options if you please. Enjoy the convenience of 2nd-floor laundry and a 2-car garage. Explore the amazing amenities in this dream community, boasting 77 parks, a stunning pool, clubhouse, orange monster play area, skatepark, splash pad, baseball, softball and soccer fields, disc golf, future pickle ball courts and easy access to highways and shopping. Your new lifestyle begins here - anticipated completion April 2024

7909 E Dartmouth Street Mesa, AZ 85207

$463,900
4 Beds
2 Baths
1,403 SqFt
Status Active
MLS # 6642855
Property Type Single Family Residence
Price Type --
Welcome to this updated gem in a well-kept neighborhood, free from HOA fees! This home boasts a spacious great room floorplan, complete with new wood-like flooring, fans, and fixtures. The kitchen shines with fresh white shaker cabinets, black hardware, Quartz tops, and brand new stainless steel appliances. Both bathrooms have been updated with new vanities and Quartz tops. The large backyard invites creativity, offering space for a potential pool or other additions. With spacious bedrooms, a roomy laundry area with extra storage, vaulted ceilings, and an abundance of natural light. Conveniently located just minutes away from parks and the Viewpoint Golf Course.

45233 W Jack Rabbit Trail Maricopa, AZ 85139

$463,900
4 Beds
3 Baths
2,874 SqFt
Status Active
MLS # 6656384
Property Type Single Family Residence
Price Type --
Experience Maricopa living with this beautiful 4-bedroom, 3-bath home, designed for comfort and convenience. Situated in the quiet Alterra neighborhood, this home offers over 2,870 square feet of contemporary living space, designed to cater to your unique lifestyle. Step inside and discover the inviting warmth of the open floor plan with multilevel spaces and a great layout. At the heart of the home is a stunning modern kitchen that features maple cabinets, stainless steel appliances, and ample granite counter space, spacious pantry and island. Retreat to the luxurious primary bedroom suite, boasting a spacious bathroom and a generous walk-in closet, providing the perfect escape after a long day. With three additional bedrooms, there is ample space for family, guests... or the flexibility to create the ultimate home office or hobby room. Step outside and discover your own private oasis, where days are spent basking in the Arizona sunshine beside the sparkling blue pool, surrounded by desert landscaping and ample space for outdoor entertaining. Whether hosting summer barbecues with friends or enjoying quiet evenings under the stars, this backyard offers endless opportunities for relaxation and more. The spacious 3-car garage, provides ample storage for vehicles, outdoor gear, and more. The downstairs guest bedroom and adjoining bath offers versatility, serving as a private retreat for guests or a home office. Located in the heart of Maricopa, this home offers convenient access to a wealth of amenities and attractions. Explore nearby Copper Park, where lush green spaces, playgrounds, and sports courts await, or indulge in a night of entertainment at Harrah's Ak-Chin Hotel/Casino, just moments away. With a variety of restaurants, shopping destinations, and recreational opportunities within easy reach, you'll find everything you need right at your doorstep. Living in Maricopa, just 16 miles from Chandler, offers the advantage of easy access to a larger city with additional amenities, employment opportunities, and entertainment options while still enjoying the more relaxed pace and affordability of Maricopa. More than just a home, this is a lifestyle - a place where memories are made, and every day is an opportunity for new adventures. Don't miss your chance to make this stunning home all yours today - discover the true meaning of Arizona living.

12407 W Levi Drive Avondale, AZ 85323

$463,699
4 Beds
3 Baths
2,355 SqFt
Status Active
MLS # 6690900
Property Type Single Family Residence
Price Type --
Discover the difference in this home and buying experience! Under construction Dakota design at Highland Sage by Brookfield. 2-story includes an open-concept floorplan, boasting an inviting kitchen and bright great room that opens to the private covered outdoor room, the two-car garage leads you into the drop zone. Downstairs guest bedroom and bathroom with a bonus room upstairs along with the other 4 bedrooms. $47,000 in upgrades are included in this home! Special financing is offered. Alamar is a new kind of master-planned community in the West Valley spread over 1,150 acres in Avondale, just 18 miles from Downtown Phoenix.

4929 S 103rd Drive Tolleson, AZ 85353

$463,445
5 Beds
3 Baths
2,241 SqFt
Status Active
MLS # 6665601
Property Type Single Family Residence
Price Type --
''BRAND NEW HOME SWEET HOME'', Private Backyard w/No Neighbors Behind. Spacious & New Single story w/5 Bedrooms, 3 baths, Open Floorplan that effortlessly blends comfort and functionality. Beautiful Kitchen w/White Cabinets, Gorgeous Granite Kitchen Counters, & Finishes of SS Appliances in this Open Kitchen overlooking Great Room & Large Patio. Lot's Of Tile In All the right places, Plush carpeted bedrooms; Two-Tone Paint, marble tops in bathrooms w/square modern bowls, Large Walk In Shower at Owners Bath & Bath 3+Energy Star Features & Smart Home Technology pkg, As a bonus, we've included the Blinds & Garage Opener too! Visit our exciting NEW community in Beautiful Tolleson! Interior Photos Of Model Home, Options Will Vary. ''ALL APPLIANCES INCLUDED'' With March Move-In.

19604 W Cambridge Avenue Buckeye, AZ 85396

$463,010
3 Beds
2 Baths
2,070 SqFt
Status Active
MLS # 6683060
Property Type Single Family Residence
Price Type --
Discover this ranch-style Agate home, ready for quick move-in! Included features: a covered entry; a large flex room; a corner kitchen boasting an alternate layout, 42'' cabinets, stainless-steel appliances, an island and an adjacent dining room; an inspired great room; a serene primary suite showcasing a sizable walk-in closet and a private bath with double sinks; a central laundry; two secondary bedrooms; a full shared bath and a charming covered patio. This home also offers 7'' x 22'' stone tile flooring, cultured marble bath countertops, ceiling fan prewiring and additional windows in select rooms, coach lights, front yard landscaping and concrete pavers at the driveway and walkway.

15576 W Coral Pointe Drive Surprise, AZ 85374

$463,000
2 Beds
2 Baths
1,712 SqFt
Status Active
MLS # 6672695
Property Type Single Family Residence
Price Type --
Your garden oasis awaits! Surrounded by mature foliage which comes live under the sun offering plenty of shade. Well-lit for entertaining or enjoy relaxing in this peaceful garden. Professionally maintained 8-person hot tub also instills relaxation. Custom tile floors enhance this 2 bedrm, 2 bath home. Spacious kitchen looks toward the backyard; beverage ''bar'' included. Gas: stove, heat, dryer & custom BBQ. Primary bedrm & bath boasts a walk-in, standard wall & linen closet, 2 sinks, & step-in shower. 2 hallway closets. Indoor laundry leads to extended 2 car garage w/ double sided wall cabinets. Owned water softener. Irrigation upgraded & automated. Backyard fenced w/ 2 gates. Front enclosed courtyard is gated. Roof inspection 2/24. Come live a lush, relaxing Grand lifestyle!

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