Real estate business botches: The truth about fixer-uppers
#3 – The cost and time taken for a fixer-upper project is likely to be longer than you expect
It’s nice to be an optimist; to think that the work required to get a fixer-upper back on the market is only minor. However, the reality is usually very different. Many people who buy fixer-uppers are prone to underestimating both the cost of the work and the length of time the renovation will take. To combat against this risk, follow the advice on https://www.realtor.com/ to lay out a workable budget, and ensure the time allowed for the work is as flexible as it can possibly be. Estimated budgets and tight deadlines are unlikely to produce positive results when trying to renovate a fixer-upper.
Fixer-upper properties can be wonderful, but they’re not quite as wonderful and easy to deal with as some would have you believe. If you do decide to continue your venture into this kind of property having read through the above, you can be confident you’ll have a better idea of what to expect from the experience. Good luck.