The ideal fixer upper is the one that has mostly cosmetic issues. Remodeling tv shows everywhere make us think that turning a home from a dilapidated mess into a space befitting a king is as easy as building a LEGO set, but, in reality one should be honest about what they can actually do themselves. In the end, a bad DIY job could become a serious financial, physical and emotional burden.
Before you buy, have a certified and experienced home inspector evaluate the property. You want to avoid getting yourself into a money pit so deep, you’ll forget what daylight looks like. There are many different types of inspections and professionals to help you create an accurate assessment of the property you’re eyeing.
When you are ready to put an offer on the fixer upper property of your dreams, you should consider the fair market value less any upgrade/repair costs. Consider if you can negotiate on the purchase price. Some buyers are eager to sell and will possibly be flexible.