Here's What to Do Before Buying a Fixer-Upper

by Ann Hayward 06/05/2023

When choosing a home, many potential buyers opt for a fixer-upper. Fixer-uppers can be fulfilling projects and potentially save money compared to buying a move-in ready home. However, it can also be an incredible amount of work that requires ample preparation. If you’re thinking of going for a fixer-upper, here are the most important things to do first:

Get a Trustworthy Inspector

An unbiased inspector should be first on your list of professionals to contact. When you find a home you’re interested in, schedule a walkthrough with your chosen inspector. It’s a good idea to get an inspector with building experience and has experience inspecting older homes, as many fixer-uppers on the market are multiple decades old. Ask lots of questions during the walkthrough.

Price Renovation Costs

Another walkthrough to schedule is with a contractor. Get an estimate for any obvious repairs but also for your renovation plans. Share all the details so you can come up with an accurate budget for improving the home after purchase.

Check City Rules & Permits

Many local laws require permits for renovation and construction work on existing homes. As these permits can come with fees, it’s crucial to factor them into your budget along with the rest of your renovation plans. Research local rules and permits needed for the specific type of work you plan to put into the property.

Learn About the Neighborhood

Just as if you were planning to buy a move-in ready house, it’s important to know the neighborhood you’ll be renovating in. This will help with many aspects of the process, but will make budgeting and planning upgrades easier, as well. If possible, get a list of comps on local homes to see if they have the same improvements you’re planning. By doing this. You avoid overspending on unneeded details that might not sell well.

There are a lot of things to consider in buying a fixer-upper. To get the best possible results, take care of these key items before you buy.

About the Author

Ann Hayward

Born in Philadelphia and raised in the suburbs, Ann Hayward got her Pennsylvania real estate license at age 18 even before going to college. This second-generation real estate professional followed in the footsteps of her father and two uncles, inheriting their passion for the business. Licensed in DC, Maryland and Virginia, Ann is accomplished in her career, with numerous designations including SFR, SRES, PSA, WHC, and multiunit Housing Development Finance Professional (HDFP) from the National Development Council. She specializes in Prince Georges and Montgomery Counties, Northern Virginia and Washington, DC, all jurisdictions where Ann has lived and knows very well. In addition to her professional expertise, she owns and manages personal investment property, understands and has been involved in the renovation/remodeling process, and has great resources which she shares with clients. When you hire Ann to represent you, she will make your buying or selling experience an enjoyable, rewarding one. Her compassion, sensitivity to her clients’ needs, eye for detail, and ability to see the big picture when guiding you through a purchase or sale are unique assets that will ensure your success. A diverse and relevant background also gives Ann a distinct edge. For 30 years, she worked in fast-paced, high-pressure television and theatrical production, attaining the highest achievement – DGA membership as a Director, and as an award-winning staff and freelance writer. Her keen audio visual skills and design sense benefit sellers in marketing their properties, and are invaluable in helping buyers see the potential of space. A true renaissance woman, Ann was also an income tax professional and office manager for H&R Block, so she thoroughly understands the tax and financial implications of acquiring and selling real estate. Her superior organizational skills are further evidenced as owner of a downsizing/professional organizing business, Managed For You, which allows her to connect with everyone from millennials to boomers and seniors, whether for small space planning or assisting with major decluttering and transitioning. Ann holds an AB in American History from Simmons College, Boston, plus attended Robert Wagner Graduate School of Public Administration where she was a candidate for Doctorate. She additionally studied Film Direction at the American Film Institute in LA, and was a Stanford University post-graduate Professional Journalism Fellow. Personally, Ann is an avid if not very good golfer, and the co-founder of a nonprofit 501c3 organization offering educational guidance, tutoring and counseling for youngsters from elementary school through college admission. She sits on the board of trustees of a nonprofit educational film production corporation as well. (202) 494-6252 [email protected]