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Investing in a Fixer-Upper as a First-time Buyer Most first-time homebuyers are looking for a house that fully ready to be turned into a home. When you are dealing with the stress of purchasing property for the very first time, adding the stress of renovating a fixer-upper can seem insane. However, for those who are brave enough - and handy enough - to attempt it, this can be the secret to owning the house of your dreams. Here is all you need to know if you are considering taking the fixer-upper plunge.
Finding Your Fixer Upper
The first thing you need to do is find your dream fixer-upper. During this search, there are a few key considerations you should keep in mind: Location - Talking to The Guardian, renovation expert Michael Holmes says that the key to finding the perfect fixer-upper is to look for “the worst house you can find on the best street you can afford.” Try to look for something in your general area, as you don’t want to spend too much time commuting between the house and where you currently live. Condition - How much DIY are you willing to do, and how much money are you willing to invest? Know this before going in, in order to avoid overspending on renovations when the time comes. Price - For a fixer-upper to be worth it, it needs to be significantly cheaper than the average house price in the area. For instance, the median sales price for a home in Walnut Creek is $825,000. A fixer-upper in the area would likely be priced lower. Renovation Budget - According to CNBC, first-time homebuyers spend an average of $33,800 on renovations and that’s across all first-time homes, not just fixer-uppers. Bear this figure in mind to calculate the cost for every property you consider. Once you have narrowed it down, hire a contractor to give you a proper estimate.
Aside from a general home inspection, which is essential, there are several more specific inspections you may wish to carry out before buying. These will generally depend on local state legislation, the state of the house, and its location. You should also look into fixer-upper loans that can give you a significant boost in your renovation budget while integrating with your mortgage, such as the Federal Housing Administration’s 203(k) program. Another option is to take out a conventional loan. It’s possible to qualify for 15-year conventional loans with a down payment of only 3 percent, and this option is also more affordable than the loans offered by many government programs. It is always a good idea to get a comprehensive of loan officers from your Real Estate Agent. They know the area, and they have worked with these loan officers many times, so you know you are getting the best contacts.
Once you have bought the house, it’s time to roll up your sleeves and get renovating. Start with the bigger structural changes, if there are any, and work your way down to the cosmetic improvements. There is no point getting the paint rollers out until the more basic considerations have been done. The bigger projects are also likely to be more expensive and doing them first ensures you don’t overspend on the less important things. Make sure you have all the tools you will need before starting any DIY. Particularly, check all your power tools (drill, sander, jigsaw, etc.) are in order, and replace anything that needs upgrading. That said, be reasonable: Don’t buy an expensive tool when a simpler one will do the job just fine.
To Sell or Not To Sell?
Once you have finished your fixer-upper, you may be left wondering whether to sell it or move into it yourself. You probably had an idea of which you wanted to do when you bought it, but that may have changed over the months of work, money and sweat you have now poured into it. The answer to this question will depend on several factors. What is the value of your fixer-upper now? Could you make good money selling it and buying another house? Is the house right for your current and future needs, or would you have to move eventually? Your Real Estate Agent would be more than happy to help you answer those questions. Whatever you choose to do, transforming a fixer-upper house can be one of the most satisfying projects you ever undertake. It is a huge commitment, and you should proceed with caution throughout the process. But if you pull it off, you will ultimately get much more out of it than you put in.
Blog by: Erin Reynolds
Heatherstone is in Irmo, SC and is very convenient to downtown Columbia, with I-26 nearby. It offers many shopping, dining, and recreation options in Harbison, which is minutes away! Heatherstone is adjacent to the YMCA for many sporting and fitness options. Lake Murray is very close so you can enjoy lots of water activities.
Heatherstone offers homeowners spacious lots with well-manicured landscapes. Most of the homes feature open floor plans, complete with master suites featuring garden tubs, and walk-in closets. The HOA fee is low and covers common area maintenance. The common pond in the center of the Heatherstone is a nice neighborhood feature.
Heatherstone is zoned for the award winning Lexington-Richland Five Schools, River Springs Elementary, Dutch Fork Middle School, and Dutch Fork High School.
If you are looking to buy or sell a home contact J King Real Estate!
Welcome home to 956 Langford Road, Blythewood, SC 29016!
This custom built home sits on 26 acres overlooking a stocked 3 acre pond.
Mature hardwoods, a flowing creek and abundant wildlife add to the natural beauty of this property.
This home includes a recently renovated kitchen and bathrooms.
Hardwood floors grace the main floor, upstairs hall and media room.
Expansive windows overlook the pool and pond.
Consider this home a peaceful, spacious family retreat convenient to good schools, shopping, and 1-77!
To view this home or for more information, please contact agent, Jason King.
7715 Edmund Highway, Pelion, SC 29123
Welcome Home to 62 Dogwood Acres Trail, St. Matthews, SC 29135!
This custom built five bedroom home sits on 4.5 acres just outside of the city of St. Matthews and close to the Calhoun Country Club.
The floor plan includes a formal living room and dining room plus a large den with wet bar and a wood burning fireplace.
The wood floors are in most of living areas. Berber carpet has recently been installed in the den and upstairs bedrooms. All bedrooms connect to a bath.
The remodeled kitchen has new natural custom cabinets, stainless steel appliances & granite counter tops. French doors in the DR go out to a 20 x 20 brick patio.
Doors from the den go out to a 22 x 22 screened porch. Architectural roof installed in 2010. All this peaceful environment and access to great golf.
To view this home or for more information, please contact agent, Jason King.
Are you getting ready to put your home on the market, or are you simply preparing to host guests? With all that prep, you don’t want uninvited critters showing up and ruining your efforts. Pests can sneak into your home and cause you and your visitors stress - but preventing pesky uninvited guests doesn’t have to. With a few simple steps, you can keep bugs, mice and other pests from ruining your efforts and your home.
Keep Your Home Clean and Clutter-Free
To help create a pleasant and comfortable environment, you’re probably doing some cleaning. But if you are not decluttering and cleaning on a regular basis, pests can easily take up residence in your home. South Carolina based company, Home Pest Control, writes in their blog that cockroaches, termites and the American house spider are among the most common insects to plague homes in our state. Rodents also love to nest in cluttered areas inside and outside of homes, so to keep your home critter-free, make an effort to keep your home clutter-free and clean. Get rid of unused furniture where those icky webs can hide, and invest in organizational tools like filing cabinets and plastic bins that help to provide a barrier to keep pests at bay. You need to declutter your storage areas as well, including your kitchen cabinets and pantries. Pantry moths can snack on old food and create a major problem in your kitchen, so toss expired fare, avoid keeping opened items too long, and be sure to keep your kitchen clean to keep out unwanted guests.
Make Sure Holes and Cracks Are Sealed
Getting clutter out of your house will give pests one less place to hide. Preventing pests from getting in at all, however, is your best bet at inhibiting an infestation. Richland County service provider, Baine Pest Control suggests on their website that homeowners consider, “…targeted treatments on the exterior and perimeter of your home limit the need for excessive amounts of chemicals on the interior.” A simple project that can keep roaches, ants and other insects from sneaking into your home is to repair weather stripping around your doors and windows. Maintaining weather stripping will also help keep your home cozy for your human guests, since it will prevent warm air from seeping out of your house in the winter and cool air from escaping in the summer. Another trick for preventing pests from accessing your home is to stuff cracks and holes with steel wool and caulk. Mice can chew through just about any other material, but a mixture of these two materials will stop those little rodents in their tracks.
Look for Signs of Bugs, Mice and Other Pests
The last thing you want is for your guests to notice your pest problem before you do. A random mouse or spider is enough to make any visitor feel unwelcome, so before allow folks inside your home, be on the lookout for signs of pest problems. Clark’s Termite and Pest Control suggests doing a once-over around the outside perimeter of and throughout the inside your home to find potential trouble spots. Consider even the simplest pest attraction points like dirty dishes and pet food bowls. Have a leaking roof, blocked gutters or a leaky faucet you’ve been putting off fixing? You may want to reconsider. Clark’s informs us that all moisture prone areas are “…a breeding ground for mosquitoes and a welcome mat for crickets and flies.” Furthermore, if you see weird mounds of brown dirt on the side of your home, you could be dealing with termites, whereas shredded bits of paper are often an indication that mice are building nests around your home. Even if you don’t see nests, you still could have rodents running around. Look for mouse droppings in areas with access to food and nesting materials. Droppings tend to look like chocolate sprinkles, but can range in color, size and shape. Keep your home tidy though, and you will be more likely to notice pest signs before they become a massive problem.
Hire a Pro to Prevent Pests from Infesting Your Home
If you want to give yourself peace of mind, you can save time and worry by investing in quality pest prevention. Because pest prevention is tricky and potentially dangerous, you need to spend time researching companies in your area. Ask the pros plenty of questions so you can make sure they are licensed and have the ability to truly protect your home. You can ask around to find pest services in your area, or you can connect with popular pest services that operate across the country. Experienced professionals will know which nuisances to watch out for and the best ways to prevent infestations in your home, so it will be money well spent.
No one wants to deal with creepy crawlers in their home, especially when guests are on their way. Make your life easy and your guests’ visits comfortable by keeping your living spaces clean, and getting the right experts to help ensure that bugs and rodents never become a problem in your home.
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Welcome home to 601 Lady St, Columbia, SC 29201!
Live the life of luxury right in the middle of The Vista! This live/work unit is priced below appraised value and just a moments walk away from dining, shopping, attractions and nightlife.
The ground level floor is currently leased as a commercial space for instant income potential. This space is very flexible and may be used as additional living or entertaining space as well.
The private entry living space has 1915 sq. ft. of gorgeous views starting with the first floor living room with wall to wall windows continuing into the kitchen.
There is a balcony right off the dining space and a half bath as well. Upstairs is a master suite, along with 2 more bedrooms, an additional bathroom and another balcony with even more views!
The Renaissance Plaza community offers gated entry, security cameras, assigned parking, green spaces, a large pool area with hot tub and a recreation/workout room. Come enjoy downtown living at it's finest!
To view this home or for more information, please contact agent, Brandi Clarkson.