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Is That Fixer Upper A Dream Home or A Money Pit? 5 Major Warning Signs to Help You Find Out

by Josh Finigan | Nov 21, 2022 | Home Ownership Education, Home Sellers and Buyers, Moving to Charlotte NC, Selling My House

So, you have finally found your dream house after what could be weeks or months of searching. It is an old house that needs a little work — okay, maybe a lot of work — but its character and charm are exactly what you are dreaming of in a home.

Fixer-uppers are appealing, especially if you think there is potential in a property. Bonus if you are an HGTV fan. It also seems like a great idea if you want to save money on your home purchase. Likewise, the opportunity to put personalized touches and let your creativity show in the home can be exciting.

The problem starts when you realize that not all fixer-uppers are equal and worthwhile. And if you are not careful, that fixer-upper might turn out to be a money pit that could transform your dream project into an expensive nightmare.

A fixer-upper VS a money pit: How to tell

Generally speaking, a fixer-upper is a house that is structurally sound and should only need general maintenance and cosmetic repairs. The biggest thing to remember when purchasing a fixer-upper is to look beyond the surface. A money pit, on the other hand, has many major flaws and expensive issues that require extensive professional assistance to make it more livable. As long as the general systems of a home are in good shape, your budget is best allocated to refreshing the property instead of repairing it.

If the fixer-upper you are looking to purchase is plagued with even one or more of these huge deal-breakers, it’s time to consider running the other way.

The bones or foundation that supports the entire house and what is holding it together. Without a solid foundation, it is impossible to have a structurally sound home. Serious issues with the structure are a large, expensive, and time-consuming undertaking to fix that could potentially turn your deal into an ordeal.

Therefore, it is probably the most important thing to look at when hunting for a worthwhile fixer-upper. Keep an eye out not only for large cracks, but also for bowing walls, shifting masonry, uneven floors, and even moisture in the basement or crawl space when viewing a home. Better still, bring in a structural engineer or a foundation repair professional to inspect the foundation very carefully. If there’s anything questionable about the structural integrity of the house, the expense involved in repairing the home may end up being more than you’re willing to spend.

Water is meant to be confined within the building structure, such as pipes and plumbing. When it runs unabated in crawl spaces, basements, floors, or walls, it can cause significant water damage, which is disastrous, and a giant red flag. Moisture can damage a home visibly by warping the walls. Even a slow leak will rot out drywall, and could eventually weaken structural elements such as joists and beams.

Worst is, mold can thrive, which can cause serious health implications and be costly to remediate. Be aware of any damp smell, scour the ceilings for signs of leaks, and check every inch of the basement and foundation for cracks or water.

Another simple point to remember, if the mechanical systems of a home, including plumbing, electrical system, and heating, need a complete overhaul, you might want to think twice before taking that fixer-upper. These can all be expensive to update and have finite lifespans. Plus, outdated electrical systems can be extremely hazardous and cause electrocution or fire hazards. The value of fixing those problems will far outweigh the good, potentially leaving you out of pocket.

Many fixer-uppers might need at least some level of roof repairs, such as replacing some cracked, or missing shingles. But if the roof is already sagging, there are multiple layers of shingles, or the shingles are dry, cracked, and brittle, and you find evidence of major leaks on the ceilings, then it’s a different matter. A complete roof replacement can cost you thousands of dollars, so you must know the age of the roof before buying.

Not to mention, severe damage to the roof could also cause a myriad of issues, such as damage to the sheathing, trusses, beams, and rafters, resulting in water damage, mold, or structural issues, from wood rot. Unfortunately, none of these repairs are cheap.

Lastly, be diligent with pests that can eat away at your house and budget. Especially if there is termite damage, or worse, an active case of termites, treating the home can be incredibly costly. The structural damage these wood-boring insects cause can be more problematic because it is not always visible. When checking a fixer-upper or any home, look carefully for signs of an infestation, including crumbling, damaged wood, buckling wooden or laminate floors, mounds of termite pellets, mud tubes climbing foundation walls, or discolored or drooping drywall.

If you suspect a termite infestation, make sure to enlist the help of professionals such as exterminators and structural engineers to help you understand the full extent of the damage. Catching the damage early, could mean you’ll only need to cover the cost of extermination/treatment. However, finding it late should be your cue to look for a more worthwhile fixer-upper.

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7 Listing Photo Mistakes To Avoid When Selling Your Home

by Josh Finigan | Nov 16, 2022 | Home Sellers and Buyers, Selling My House

A photograph can be worth more than a thousand words. This is especially true in real estate. You might have the most desirable house in the neighborhood, but if you do not take and post the right pictures, your home will not appeal to as many buyers.

In the 2021 National Association of REALTORS® Profile of Home Buyers and Sellers, 84 percent of home buyers find photos very useful. Furthermore, 41 percent of recent buyers said the first step they took in the home buying process was to look online at properties for sale. This is why it is important for your online listing to make a good impression. You want to show that your home is worth considering setting up in-person showings.

Since you might not get a second chance to make a first impression, you cannot afford to mess up your listing photos. Here are some of the most common real estate photo mistakes you need to steer clear of and some tips on how you can avoid them.

Blurry or out-of-focus images can leave an impression that the seller is hiding certain house features, while grainy photos can make a house look menacing due to deep shadows. With today’s camera technology, there is no excuse for having such images anymore, especially when selling a product such as a home.

Listing photos need to look professional. If you do not want to hire a professional who specializes in residential photography, at least use a quality camera or smartphone that can give you high-resolution images. More so, use a tripod to enhance the stability of the camera and prevent blurred photos.

Lighting is a critical aspect that can make or break a photo. Good lighting can make a property look more spacious, fresh, and inviting, especially if you highlight the natural light it provides. This is why interior photos are best taken during the day, with windows and blinds opened, curtains drawn back, and lights turned on to produce bright and illuminated spaces. Similar principles apply to exterior images to best feature your home’s curb appeal.

One of the worst kinds of listing photos features a cluttered house. Papers on the side of the refrigerator, groceries and food items on the kitchen counter, unmade beds, clothing on chairs, personal belongings like diplomas and other memorabilia still on display—you name it.

While it does not directly affect the quality of the photos, a clean and organized house is critical to a successful photo shoot. If you cannot stage your home or hire a professional stager, do your best to clean, declutter, and organize beforehand. Remember that the goal is to photograph your home to look like a model home to entice potential buyers without being misleading. Any clutter and personal items will only distract them from seeing the most attractive aspects of each room and might hinder them from scheduling a showing.

The main goal of prospective buyers is to focus on your property, not to check who or what resides in it. Although you love your pets and they are adorable, keep them out of your pictures. Not everyone loves pets or may be allergic, so including your pet in listing photos can negatively impact house hunters. They might worry about fur on the carpet, scratched floors, or nasty pet smells and stains.

Similarly, listing photos should never be photobombed by you, your cute kid, or anyone living in the home or taking the photographs, which often happens when there is a mirror in the room. Remember that it is your home that should take center stage, so skip the selfies or family shots so buyers can easily envision themselves living in there.

Pictures of your property’s exterior should not include a close-up of a patch of grass. Or a tree in the backyard. Or a random plant. Interior photographs, on the other hand, should never include close-ups of everyday home items—from not-so-fancy ceiling fans, and water heaters to every appliance you have that would not qualify as sought-after amenities.

While the intention is likely to show the condition and age of these items, in reality, dull close-up shots make rooms look small and repetitive. So take a step back and photograph your property’s look and flow, focusing on spaces such as the kitchen, bathroom, closets, outdoor living space, and unique home features, so buyers can have the feel of the home just by looking at photos. The brand of the refrigerator can wait until they schedule a showing.

Another mistake sellers often make is featuring pictures taken several months ago that are outdated, maybe in an attempt to save time and effort. But listing photos should always be up-to-date and show the current state of the house and how it would look to a potential buyer in person.

Additionally, it is important not to post seasonal photos, especially with decorations from a holiday one celebrated months ago. For example, if you are listing your home for sale in February or March, you do not want buyers to see photos of your Christmas tree and twinkly lights. So take down all holiday decorations before taking pictures for your listing, unless you want people to think that your property has been on the market since December. Your listing photos should feature a neutral home and reflect the current season to attract more buyers.

Aside from having good quality listing photos, buyers would want to see as many photos as possible to help them make an educated decision on whether to schedule a showing of the property. If the listing has limited photographs, buyers might wonder what the seller is hiding. For instance, only featuring photos of the exterior could mean the interior is outdated, and vice versa. If your listing says your home has two bathrooms, you would want to show both of them. Make sure to include images of every part of the home, highlighting the rooms and spaces you want to.

Each Multiple Listing Service and real estate websites have different limits on the number of photos a home seller can include. Whatever website you and your real estate agent choose to use, it’s a good idea to upload the maximum photo limit.