5 Tips for Buying a Fixer-Upper in Mississauga
Friday Dec 09th, 2022
With proper due diligence and the right real estate sales representative on your side, buying a fixer-upper can be both a satisfying experience and a smart investment. But, there are some important considerations to remember to ensure a trouble-free buying and ownership experience.
Here are five things to consider:
A fixer-upper in a fantastic neighbourhood is sure to pay big dividends for the savvy buyer – especially one working with an experienced realtor who knows the ins and outs of the most desired communities.
2. Mass Appeal
If you plan to purchase a fixer-upper to sell, make sure that the property appeals to the largest pool of buyers. Your real estate representative can help you hone in on the type of home people in any given neighbourhood are looking for. For example, if you are purchasing a single-family house in Mississauga, look for one with three or more bedrooms and at least two full bathrooms.
3. Sensible Layout
When buying a fixer-upper, look beyond the home’s current floor plan and envision the best layout to suit your lifestyle or your target demographic, should you decide to sell after you invest some sweat equity. The trend today is for a home with an open floor plan and rooms that flow seamlessly with one another.
4. Bang For Your Buck
Avoid homes requiring costly makeovers, like shoring up a sagging foundation or addressing other major structural issues. Instead, think cosmetic fixes – fresh paint, new bathroom fixtures, hardwood floors, a new roof or energy-saving windows. All are relatively inexpensive fixes that enhance the beauty of your home but also its resale value.
5. Potential Problems
Before buying a fixer-upper, invest in a home inspection, which can save you thousands of dollars in the long run by identifying key issues and repairs. You may even want a structural engineer to examine the property as a condition of sale. If you need a recommendation for an inspector, be sure to ask your realtor for their most trusted contacts.
Are you thinking about purchasing a fixer-upper? If so, I can help. As an experienced real estate sales representative serving Mississauga and the Greater Toronto Area, I’ve had the pleasure of assisting hundreds of buyers in finding their next home. Together, I can help you navigate the highly competitive market to find the perfect diamond in the rough and a solid investment offering excellent returns.
Want to learn more? Please get in touch with me, Deborah Clerk, Real Estate Sales Representative, ASA, at Keller Williams Realty, Brokerage.