Buying a fixer upper can be a great way to save money, make a home your own, and rapidly build equity. Before you decide to buy a fixer upper in Carson Valley, there are some things to consider.

Whether you want something move-in ready or a home that is ready for some major renovation, we can help. Contact us any time to learn more about homes for sale in Carson City.

If you are on the fence about buying a home that needs some major work, here are some things to keep in mind.

Will I be able to live in the home while renovating?

Some fixer-uppers can be renovated without the need to move out, while others will require you to have another home for at least a portion of the project. Decide whether you would be willing to live through the renovation, and then consider whether each property you are looking at would accommodate this. A full gut job may not be worth it if you need to be able to live in the home the entire time.

Am I able to work with a flexible timeline?

Nearly every renovation ends up taking more time than expected. Thanks to factors like supply chain issues and weather-related delays, there is only so much you can predict and control in the home improvement process. In the Carson Valley, the season in which you are renovating can also affect your timeline. Winter weather can impact your ability to complete exterior projects or have large quantities of supplies delivered.

In order to go through the improvement process for a fixer-upper, you need to be able to work with a flexible timeline. If you have a strict deadline for the house to be finished or livable, a fixer-upper project may not be right for you.

How much work can I do myself?

Be realistic with yourself as you consider a fixer upper. While many TV shows and online influencers make DIY renovations seem like an easy way to save money, this is not always the case. In order to successfully renovate your own fixer-upper, you need to have both the time and the skills to do so. Make sure you have more than just some nights and weekends to dedicate and a realistic perspective of your skillset and what you should hire a professional to do for you.

Am I financially prepared for surprises?

Similarly to the unpredictable timeline factor, the expense of renovating a fixer-upper is hard to accurately estimate. In order to buy a fixer-upper and not regret it, make sure you have a financial buffer to handle some unpleasant surprises, and not just a chunk of cash that only works in the best-case scenario.

What does the inspection report say?

As you begin looking at specific homes, you may find a fixer-upper that looks promising enough to make an offer. After entering escrow and getting the inspection report back, take a careful, thorough look at it. Try not to get too attached before you find out what potential red flags are there.

An inspection report that reveals some major issues is not necessarily a deal breaker. Depending on the problems you discover, you may be able to negotiate a better deal with the seller and end up with the home you are dreaming of. The importance of working with a real estate team you can trust becomes even more essential in this negotiation situation.

When you are ready to begin the search for your home in Carson Valley, Dayton NV real estate or Lake Tahoe we are ready to help. Contact us any time to get started.