{"id":1043,"date":"2022-12-07T10:26:30","date_gmt":"2022-12-07T10:26:30","guid":{"rendered":"https:\/\/www.up-project.org\/?p=1043"},"modified":"2022-12-07T10:26:41","modified_gmt":"2022-12-07T10:26:41","slug":"should-you-buy-a-fixer-upper","status":"publish","type":"post","link":"https:\/\/www.up-project.org\/should-you-buy-a-fixer-upper\/","title":{"rendered":"Should You Buy a Fixer-Upper?\u00a0"},"content":{"rendered":"<div class=\"bledc64ba55bf8afe7\" ><a href=\"http:\/\/affiliates.milesweb.com\/2325-1-1-18.html\" target=\"_blank\" rel=\"nofollow\"><img style=\"border:0px\" src=\"https:\/\/affiliates.milesweb.com\/media\/banners\/728x90-MilesWeb.jpg\" width=\"728\" height=\"90\" alt=\"\"><\/a><\/div><style type=\"text\/css\">\r\n@media screen and (min-width: 1201px) {\r\n.bledc64ba55bf8afe7 {\r\ndisplay: block;\r\n}\r\n}\r\n@media screen and (min-width: 993px) and (max-width: 1200px) {\r\n.bledc64ba55bf8afe7 {\r\ndisplay: block;\r\n}\r\n}\r\n@media screen and (min-width: 769px) and (max-width: 992px) {\r\n.bledc64ba55bf8afe7 {\r\ndisplay: block;\r\n}\r\n}\r\n@media screen and (min-width: 768px) and (max-width: 768px) {\r\n.bledc64ba55bf8afe7 {\r\ndisplay: block;\r\n}\r\n}\r\n@media screen and (max-width: 767px) {\r\n.bledc64ba55bf8afe7 {\r\ndisplay: block;\r\n}\r\n}\r\n<\/style>\r\n<p><span style=\"font-weight: 400;\">Buying a property in need to work will not appeal to everyone. Some properties need major maintenance and construction work before becoming liveable, which for many who need somewhere to move into straightaway, is not an option. Some fixer-upper properties on the other hand will not need as much work and will be perfectly liveable and instead just requiring visual updates.\u00a0\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The idea of buying a property and doing it up to make it your own is an appealing idea and allows you to really put your stamp on your new home. Whilst the idea is attractive, it\u2019s not something you want to get into and then realise is not for you. You will need plenty of time and extra money to get the property to the standard if you want to be cost-effective, you\u2019ll have to do most of the manual labour yourself.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">In this article, we\u2019ll walk through what\u2019s involved when buying a fixer-upper to help you decide whether it\u2019s right for you.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>Buying a fixer-upper<\/b><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Buying a property in need of work is a similar process to buying a regular property. Depending on the extent of the required work, the asking price will be lower than a similar property that has been done up to a good standard. This will give you some money to play about with in order to do the property up. However, you should work out in advance how much money you would save in place of buying a recently refurbished property and how much you\u2019ll need in order to get the property to the standard you want it.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>Doing up the property yourself\u00a0<\/b><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">This is by far the most lucrative way of financially benefitting from your purchase and adding value. If you have never done a renovation project before, you need to be aware that it can be an extremely time-consuming process. You will need to source all the necessary materials and tools and have a lot of spare time to do the work. Property developers who do all the work themselves usually do this as a full-time job so it will be difficult to do this whilst juggling a career and other commitments.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s worth doing your research prior as to what will be involved. You don\u2019t want to do a poor job of the renovation, otherwise, you\u2019ll have wasted time and money. Take a look at some tutorials on YouTube before you start so you know what you\u2019re doing.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>Hiring a professional to do the work\u00a0<\/b><\/p><div class=\"qnvxt64ba55bf8b04e\" ><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\n<ins class=\"adsbygoogle\"\n     style=\"display:block; text-align:center;\"\n     data-ad-layout=\"in-article\"\n     data-ad-format=\"fluid\"\n     data-ad-client=\"ca-pub-1998875270506674\"\n     data-ad-slot=\"5700030306\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script>\n<\/div><style type=\"text\/css\">\r\n@media screen and (min-width: 1201px) {\r\n.qnvxt64ba55bf8b04e {\r\ndisplay: block;\r\n}\r\n}\r\n@media screen and (min-width: 993px) and (max-width: 1200px) {\r\n.qnvxt64ba55bf8b04e {\r\ndisplay: block;\r\n}\r\n}\r\n@media screen and (min-width: 769px) and (max-width: 992px) {\r\n.qnvxt64ba55bf8b04e {\r\ndisplay: block;\r\n}\r\n}\r\n@media screen and (min-width: 768px) and (max-width: 768px) {\r\n.qnvxt64ba55bf8b04e {\r\ndisplay: block;\r\n}\r\n}\r\n@media screen and (max-width: 767px) {\r\n.qnvxt64ba55bf8b04e {\r\ndisplay: block;\r\n}\r\n}\r\n<\/style>\r\n\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">While hiring a tradesman to do the work will often ensure a high standard of quality and save you time, it will be much harder on your wallet. Having said this, the added value may still be worth it as your property will increase in value the greater the renovation.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">If you decided to go down this route, make sure you use a reputable tradesman or company to do the works. You don\u2019t want a cowboy builder starting the job and then going AWOL halfway through!\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>How much will it cost?\u00a0<\/b><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The figure will inevitably vary from property to property and with the extent of the work you\u2019ll be undertaking. You should speak to an architect or a builder and get a few quotes as to how much it\u2019ll cost.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">To give you a rough idea, a loft conversion will cost approximately \u00a323,000. If you\u2019re looking to update the whole property, you\u2019ll be looking to spend approximately 10% of the property\u2019s value, but this is still before you invest in something like a brand-new kitchen, bathroom or extension.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>Final thoughts\u00a0<\/b><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Buying a fixer-upper is largely dependent on your personal situation and whether you have experience doing DIY or not; time is also an important factor and whether you are willing to live in a construction site for a period of time. If so, buying a fixer-upper can save you money and add capital value to the property, which should net you a decent profit when you come to sell.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><i><span style=\"font-weight: 400;\">This article was written by an <\/span><\/i><a href=\"http:\/\/www.housesalesdirect.com\/\" target=\"_blank\" rel=\"noopener\"><i><span style=\"font-weight: 400;\">online estate agent<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> House Sales Direct. If you wish to sell your house fast and for free, then head over to the House Sales Direct website for more property related information and enquiries.<\/span><\/i><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Buying a property in need to work will not appeal to everyone. Some properties need major maintenance and construction work&#8230;<\/p>\n","protected":false},"author":1637,"featured_media":1044,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[27],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.up-project.org\/wp-json\/wp\/v2\/posts\/1043"}],"collection":[{"href":"https:\/\/www.up-project.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.up-project.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.up-project.org\/wp-json\/wp\/v2\/users\/1637"}],"replies":[{"embeddable":true,"href":"https:\/\/www.up-project.org\/wp-json\/wp\/v2\/comments?post=1043"}],"version-history":[{"count":1,"href":"https:\/\/www.up-project.org\/wp-json\/wp\/v2\/posts\/1043\/revisions"}],"predecessor-version":[{"id":1045,"href":"https:\/\/www.up-project.org\/wp-json\/wp\/v2\/posts\/1043\/revisions\/1045"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.up-project.org\/wp-json\/wp\/v2\/media\/1044"}],"wp:attachment":[{"href":"https:\/\/www.up-project.org\/wp-json\/wp\/v2\/media?parent=1043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.up-project.org\/wp-json\/wp\/v2\/categories?post=1043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.up-project.org\/wp-json\/wp\/v2\/tags?post=1043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}