The Pros and Cons of Buying a Fixer-Upper

-

A Realtor's Guide To A Fixer-Upper

Pros & Cons Of A Fixer-Upper In Dayton, OH

If you are considering a fixer-upper in the Centerville/Dayton area, there are several things you need to consider. In this article, we explore the pros and cons of a fixer-upper and help you decide if this is the right option for you. 

PROS✅


Initial Purchase

Fixer-uppers are typically priced much lower than homes that are move-in ready. This offers a big savings in the initial purchase price which can save you thousands.

Make It Your Own

Purchasing a fixer-upper allows you to renovate the home with your own personalization of flooring, paint, layout, and any other updates for customization. 

Good Investment

Real estate in general is a good investment. When purchasing a fixer-upper, you have less of an initial investment which can provide a positive return on investment. 

Property Tax Decrease

Because the purchase price of your home was lower due to its condition, this helps to decrease the property tax on the home until it's relisted or reevaluated when the improvements are completed. 

CONS🚫


Remodeling Cost

Although you will save money with the initial cost of the property, the remodeling cost will also need to be considered. By having a plan in place that includes timeline, materials needed, and budget will help you manage the renovation costs.

Time Consuming

Whether you choose to remodel a fixer-upper yourself or you choose to hire a remodeling contractor, a remodel will be time consuming. From materials, to contractor timelines, to permit delays, there are a variety of things that can hinder the project from staying on track.

Other Living Arrangements

Depending on the size of your remodeling contractor, you may need to consider temporary living arrangements while the home is being renovated. If the home is livable and you are managing the projects one at a time, you may be able to live at the home during renovations.

Hidden Costs

Since most fixer-uppers are sold as is, it's important to take into consideration the potential for unforeseen renovation costs that will be more relevant in older homes or homes that have had previous damage such as water or fire damage. 


By considering the pro's and con's of a fixer-upper and whether it's the right option for you will depend on your budget, your timeline, your family's needs, and real estate availability. If you are interested in looking at fixer-uppers in the Centerville/Dayton areas, give Rhonda Hart with NavX Realty and Homes of Southwest Ohio a call today and let her help you find the home of your dreams. Whether that's a fixer-upper or a brand new home, she has the experience, the connections, and the know-how to get you a list of homes that you will love. 

Service area includes:
Centerville, Dayton, Downtown, Oregon, South Student Neighborhood, Webster Station, Old North Dayton, Dayton View Triangle, Shroyer Park, Miami Chapel, Historic Inner East, Belmont, University Row, Twin Towers, Pineview, Highview Hills, Princeton Heights, Edgemont, Five Points, Midtown Dayton, Old Dayton, and all surrounding areas. 

NavX Realty & Homes of Southwest Ohio
(937) 397-9988
Location: Dayton, OH, USA

Comments

Post a Comment

Popular posts from this blog

How a Local Realtor Can Supercharge Your Home Search

-
Image
Searching for a new home is exciting… but it can also feel like speed dating with houses. Swipe through enough listings and suddenly they all start to blur together: three bedrooms, two baths, “cozy” kitchen, “spacious” backyard. How do you know which one is “the one”? That’s where a local realtor comes in — not just as a guide, but as your home search supercharger. The Power of Local Knowledge Sure, you can scroll Zillow at midnight in your pajamas, but a local realtor knows which neighborhoods actually match your lifestyle. They know where the traffic backs up at 5 PM, which school districts have the best programs, and which “quiet streets” aren’t so quiet on Friday nights. This inside scoop saves you hours of research and prevents costly surprises down the road. Access to Homes Before Everyone Else Ever wonder how some people snag their dream home before it even hits the big websites? Local realtors often get early access to listings through their networks. That means you could be t...
Read more

House Hunting Checklist: What to Look for Beyond the Curb Appeal

-
Image
Curb appeal might draw you in - but it’s what lies beneath the surface that truly determines if a home is worth your investment. Before falling for a pretty porch or fresh landscaping, make sure your walk-through goes deeper. This comprehensive house hunting checklist will help you see past the polish and make smarter buying decisions. 1. Foundation & Structural Integrity A charming exterior can’t hide a cracked foundation. Check for: Uneven floors or sloping rooms Large cracks in walls or basement concrete Doors or windows that don’t close properly Moisture marks or efflorescence (white powder) in the basement Why it matters : Structural repairs can be costly and affect the safety and resale value of your home. 2. Roof Condition It may not be eye-level, but the roof is your first line of defense. Look for missing, curling, or discolored shingles Check the age and ask if there’s a transferable warranty Ask about previous leaks or patches Check inside the attic for signs of water da...
Read more

Location vs. Layout: What Matters More When Buying a Home?

-
Image
When searching for the perfect home, one of the biggest debates buyers face is whether location or layout should take priority. While both factors play a significant role in overall satisfaction, deciding which one matters most depends on personal preferences, lifestyle, and long-term goals. Let's break down the pros and cons of each to help you make an informed decision. The Case for Location Real estate professionals often emphasize the mantra: "location, location, location." This isn't just a catchy phrase - it's a fundamental truth in home buying. Here's why: Resale Value - A home in a desirable location tends to appreciate over time, making it a smart investment. Convenience - Proximity to work, schools, shopping, and entertainment can make daily life easier and more enjoyable. Community and Lifestyle - The right neighborhood can offer a sense of belonging, security, and access to amenities like parks, restaurants, and social hubs. Commute and Accessib...
Read more