Unlocking Potential: What to Consider When Buying a Fixer-Upper

Investing in a fixer-upper can be a smart move, offering affordability and the opportunity to shape your dream home. However, not all fixer-uppers are created equal. To ensure you're making a wise investment, consider these essential factors before diving in.

1. Strategic Location: The mantra in real estate is true – location matters. Select a fixer-upper in a neighborhood with high buyer demand. Investing in a property surrounded by abandoned buildings or plagued by crime, no matter how beautifully renovated, might not attract potential buyers. Opt for a fixer-upper in a thriving area to maximize your investment.

2. Thoughtful Floor Plan: Evaluate the existing floor plan. If you find oddities like a kitchen on the upper floor or a sole bathroom in the basement, extensive remodeling will be necessary. Such drastic changes can incur substantial costs, potentially outweighing any profit. Focus on properties with layouts that cater to common homebuyer needs to save on renovation expenses.

3. Bedroom and Bathroom Configuration: The number of bedrooms and bathrooms significantly impacts a property's appeal. A three-bedroom, two-bathroom fixer-upper is generally more marketable than a two-bedroom, one-bathroom option. When considering a purchase, prioritize properties with a layout that aligns with buyer preferences, increasing your chances of a successful flip or rental.

4. Considerable Condition: While the essence of a fixer-upper is its need for repairs, the extent of required work matters. Superficial issues like repainting are manageable, but major concerns like roof replacements or faulty foundations can be financially crippling. Consulting a local real estate agent experienced in investment properties can help assess the potential expenses, ensuring the purchase remains financially viable.

Whether you're flipping for profit, renting, or planning to reside in the property, keeping these factors in mind is crucial. If you're considering a home purchase in Central Ohio, entrust your journey to Realtor Rita Boswell. Start your search today on our website, and when you're ready to explore homes in person, call or text Rita Boswell at 614-830-9767. Your dream home might be closer than you think!

Browse Short Sales, REOs, and Auction Homes For Sale in Central Ohio

59 Properties
Page 1 of 5
$199,900
Neighborhood: Three Rivers
3
Beds
1F11/2
Baths
1,160
Sq.Ft.
1979
Year Built
1
Day on Site
224016205
MLS
3
Beds
2
Baths
1,674
Sq.Ft.
1998
Year Built
4
Days on Site
224015839
MLS
$279,500
Neighborhood: Villa Park
3
Beds
1F11/2
Baths
1,751
Sq.Ft.
1949
Year Built
5
Days on Site
224015716
MLS
$40,000
Neighborhood: Orchard Island
1
Beds
1
Baths
520
Sq.Ft.
1930
Year Built
5
Days on Site
224015803
MLS
$550,000
Neighborhood: Wyandotte Woods
4
Beds
4F11/2
Baths
4,939
Sq.Ft.
2002
Year Built
6
Days on Site
224015508
MLS
3
Beds
2
Baths
1,960
Sq.Ft.
1910
Year Built
6
Days on Site
224015533
MLS
$54,900
Neighborhood: Galion City Township
3
Beds
2
Baths
1,086
Sq.Ft.
1957
Year Built
7
Days on Site
224015221
MLS
5
Beds
3F11/2
Baths
2,036
Sq.Ft.
1985
Year Built
8
Days on Site
224015147
MLS
3
Beds
1
Baths
1,037
Sq.Ft.
1951
Year Built
9
Days on Site
224015070
MLS
3
Beds
1
Baths
1,169
Sq.Ft.
1967
Year Built
9
Days on Site
224015086
MLS
3
Beds
2
Baths
1,383
Sq.Ft.
1900
Year Built
10
Days on Site
224015003
MLS
2
Beds
1
Baths
504
Sq.Ft.
1860
Year Built
11
Days on Site
224014954
MLS

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