Knutson Bros II, LLC

I am thinking about buying a "fixer-upper". What do I need to keep in mind?

Fixer-uppers can range from houses with severe structural problems to merely "tired" 20-year old homes. The most important thing when deciding to invest in a fixer-upper is the type of work to be done.

Fixer-uppers with the most potential for significant profit are the homes that don’t need a lot of major work. Most fixer-uppers can be revitalized with new interior and exterior paint, new light fixtures, new floor covering, landscaping, etc.

Some of the fixer-upper projects that tend to be the most unprofitable include a new roof, foundation repairs, structural work, extensive remodeling or major renovations.

Don’t forget to have a home inspection done to try and protect yourself from an unexpected defect.