A fixer-upper requires significant time and effort to renovate. While the DIY route might seem like the best way to save money, it isn't always the most affordable option. There are other issues like time and logistics to consider. If you're thinking about buying a fixer-upper, here are the biggest things to consider:
The major drawback to fixer-uppers is the time and effort they require. Even for DIY masters, an entire list of home improvements adds up to a significant undertaking. Some tasks might be simple and inexpensive, like painting or installing tile. Others, like plumbing overhauls or installing new HVAC systems will require more time and labor.
Unfortunately, fixer-uppers often come with unexpected costs beyond what you budget for. Even with the unpleasant surprises, you may end up spending more than you budgeted for on renovations. Every construction project inevitably runs into delays or issues with materials—these issues can add up quickly and add monetary stress to the situation. If you hire professionals to help you with the bigger projects, their labor will factor in as well.
As with all renovation projects, there are bound to be timeline issues. Delays in getting materials, poor weather and any other myriad obstacles can stretch out a quick project into a month-long process. If you're doing the work yourself, you'll also need to consider your own energy levels and life balance. After all, you need to make time to eat and sleep! Balancing DIY renovations with jobs, social or household obligations and your own peace of mind may factor in to your timeline. Unfortunately, these issues are some of the hardest to plan for.
Fixer-uppers can be a ton of work, but they can be very rewarding. Whether you plan to live in the improved home or flip it for profit, you can get even more out of it than the work you put in.
I am a real estate broker, property manager, and investor, located in Ann Arbor, Michigan. To each client, I bring close to a decade of experience in real estate, first as a real estate investor, then manager, and now love to share my experience and knowledge with property buyers and sellers as a real estate broker. Since attending the University of Michigan in 2005, I have lived in Ann Arbor ever since. My exceptional knowledge of the market as an investor and property manager provides a unique perspective and competitive advantage to my clients for selling and buying both residential and investment properties.
I have successfully managed investment properties in Ypsilanti and Kalamazoo and have conducted real estate transactions throughout southeast Michigan. Whether clients are looking for their first home, vacation homes, or the home of their dreams, I will be able to stay on top of the process, remove obstacles and make the real estate deals as pleasurable as possible. I enjoy working with people and finding ways to share a laugh or two in the process. I take pride in being available to my clients and being responsive to their needs.
In addition to my residential property expertise, and my multicultural background, I am capable of working with international investors and home buyers to make their international property purchases smoother and trouble-free. If you are interested in the acquisition of investment homes for your children while they attend the University of Michigan, as a property manager, investor, and broker, I will be able to help you make that reality come true.
I graduated from the University of Michigan and own and operate several businesses in Ann Arbor and Ypsilanti. In addition to my real estate experience, I am also a technology enthusiast and am always on the hunt to use technology and media to enhance the buying and selling experience.
If you are looking to make your first home purchase, or are trying to sell your home, give me a call and I can guide you through the services that I can offer you to help you start along the journey. I take great pride in my work and it would be an honor for me to represent you and your needs.
Yours truly, Vincent Zhang