Buying a Fixer-Upper? Avoid These COSTLY Problems
If you’re on the hunt for a home to purchase, you may be wondering… is it better to buy a home that’s already been remodeled? Or should you tackle a fixer-upper project and make it your own? While doing renovations yourself can be a great way to save money on a home purchase, it’s very important to know when a home is TOO far gone to make it worth your time and money. It’s one thing to do a cosmetic kitchen remodel… it is a whole other thing to get into gutting a home and dealing with a money pit investment.
We hope today’s blog will give you clarity and help you decide whether a fixer-upper home is for you. Here are our Top Red Flags When Buying a Fixer-Upper Home in Arizona!
Roof issues
In Arizona, a typical tile roof will last about 30 years on average. After this time, the underlayment will need to be replaced and this cost can add up quickly. To do a full roof replacement, you’re looking at an investment of about $20,000 on average. You’ll want to hire a qualified roofer to do the work.
To avoid running into roof issues after closing on your home, during your inspection period be sure to find out what year the home was built and ask your realtor to find out if the roof is original or has been replaced. If the roof is getting close to the 30-year mark, it may be wise to reconsider whether the home is worth it!
HVAC issues
HVAC problems are another costly fix to overcome, especially when temps can hit up to 120 degrees in the Arizona summers. This is another reason your inspection period is so vital during a home purchase- you’ll want to have an AC inspector tell you about the condition of your unit and check for its efficiency. If you’ll need to replace your unit, you’re looking at incurring costs upwards of $8,000.
Foundation issues
This is yet another problem that can quickly become expensive for homeowners. In some cases, foundation issues will require you to tear up indoor flooring, pull up concrete or inject urethane foam to level your home. Depending on the severity of the foundation issues and the necessary treatment to remediate, you can expect anywhere from an $8,000-$15,000 price tag.
Electrical and Plumbing issues
You can pretty much expect that whenever home repairs include opening up walls or tearing into floors, the cost of those repairs will be high. Of course, this includes dealing with any major electrical or plumbing work. When you’re looking at purchasing an older home, for example, you may be dealing with galvanized plumbing, which can corrode over time and cause significant water leaks or burst pipes. During renovations, your contractor will encourage you to update the plumbing to copper or PEX, which runs anywhere from $2,000- $15,000 on average. If your home also requires you to get an electrical rewiring to bring it up to code, you’re looking at about a $10,000 cost.
Consult Yourson Contracting
As you can see, it’s important to do your due diligence on a property and its condition before committing to purchase. Whether you’re buying a home that just needs some cosmetic updating, or if you’re buying one that needs a COMPLETE facelift with many large repairs, you’re going to want to hire a contractor that’s qualified to do the job. If you’re a homeowner in Arizona, we’d be happy to help you tackle your fixer-upper. Give us a call at (623)-582-4477 to schedule a home estimate.
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