Finding Your Perfect Home in a Fixer Upper

If you’re trying to buy a home and are having a hard time finding one you can afford, it may be time to consider a fixer-upper. That’s a house that needs a little elbow grease or some updates, but has good bones. Fixer-uppers can be a really great option if you’re looking to break into the housing market or want to stretch your budget further. According to NerdWallet:

“Buying a fixer-upper can provide a path to homeownership for first-time home buyers or a way for repeat buyers to afford a larger home or a better neighborhood. With the relatively low inventory of homes for sale these days, a move-in ready home can be hard to find, especially if you’re on a budget.”

Basically, since the number of homes for sale is still so low, if you’re only willing to tour homes that have all your dream features, you may be cutting down your options too much and making it harder on yourself than necessary. It may be time to cast a wider net.

Sometimes the perfect home is the one you perfect after buying it.

Here’s some information that can help you pinpoint what you truly need so you can be strategic in your home search. First, make a list of all the features you want in a home. From there, work to break those features into categories like this:

• Must-Haves – If a house doesn’t have these features, it won’t work for you and your lifestyle.
• Nice-To-Haves – These are features you’d love to have but can live without. Nice-to-haves aren’t dealbreakers, but if you find a home that hits all the must-haves and some of these, it’s a contender.
• Dream State – This is where you can really think big. Again, these aren’t features you’ll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it’s a clear winner.

Once you’ve sorted your list in a way that works for you, share it with your real estate agent. They’ll help you find homes that deliver on your top needs right now and have the potential to be your dream home with a little bit of sweat equity. Lean on their expertise as you think through what’s possible, what features are easy to change or add, and how to make it happen. According to Progressive:

“Many real estate agents specialize in finding fixer-uppers and have a network of inspectors, contractors, electricians, and the like.”

I can offer advice on which upgrades and renovations will set you up to get the greatest return on your investment if you ever decide to sell down the line.

Here are some recent examples of fixer upper opportunities I have found in Boston.

Bottom Line

If you haven’t found a home you love that’s in your budget, it may be worth thinking through all your options, including fixer-uppers. Sometimes the perfect home for you is the one you perfect after buying it. To see what’s available in our area, let’s connect.

 

Michael Mahoney
617-615-9435
mike@mmahoney.com
MA. License #9051300
Real Broker LLC License #423031

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I am Michael Mahoney, a full time Realtor in Greater Boston focused on Norfolk & Suffolk Counties. I have been helping people fulfill the “American Dream” through home ownership, real estate wealth building, and real estate investment for over 2 decades.

My goal is to help people “go from the life they have to the life they dream about” using real estate as means to build wealth and financial security. If you want to make a change, I help people go from the “what if” to the “what is”.

I work in all price points. The majority of my business is repeat clients and the referral of clients from all over Eastern Massachusetts.

I view my role as the advisor who helps people go from the life they have to the life they dream about. I help people go from the “what if” to the “what is”

I have sold everything from mobile homes to amazing estates. I have sold hundreds of homes, multi families and condos in almost every town in Suffolk and Norfolk County. I also sell homes in Plymouth, Bristol and Middlesex Counties. When asked what my specialty is, I often joke and say “from section eights to great estates”.

There is no property too small or too large in the residential space that I would shy away from.

All of my personal sales and marketing endeavors are supported by top-of-the-line personal market research completed carefully with expertise in order to create strategically targeted marketing collateral and campaigns for clients. I personally have a stand by commitment of 7-days a week for my clients. I aim to cultivate my own reputation for quality, professionalism and your results.

From selling hundreds of homes in Greater Boston comes experience and situational awareness that can only be developed over time which is a tremendous value to clients.