Fix up Your Portfolio With A Fixer-Upper – homes for sale in Kyle TX, Buda TX, Austin, TX, Dripping Springs TX, call Agent Aaron @ 512-845-4204
Many buyers like fixer properties for obvious reasons: the price and the satisfaction of earning some sweat equity. Whether you are buying the property for yourself or as an investment, choose a house that is in a good location and structurally sound. It should be priced enough below market value – usually at least 30% – to allow plenty of room for a profitable resale after the work is done.
It is important to educate yourself before taking on such a project.
For example, inexpensive cosmetic improvements often give the greatest return – paint will increase the value three times for every dollar invested. Landscaping, carpeting, and light fixtures are also relatively inexpensive improvements. Expensive structural improvements, such as a new roof, plumbing, wiring, or foundation repairs, usually add very little to the market value of a home.
Remodeling a kitchen will rarely add more than the cost, but new appliances usually give a fine return. An extra bathroom is the best renovation from an investment point of view, often giving twice its cost in added value; the worst investment is a swimming pool.
If you have more questions about fixers and wonder if you’re ready to take on a rehab property, contact Agent Aaron at 512-845-4204. Homes for sale in Kyle TX, Buda TX, Austin, TX, Dripping Springs, TX.