Fixer-uppers are a good form of real estate investment if you have the time, patience and resources available. This weekend, we at Team Leading Edge would like to share with you 5 Must-Know and understand facts before you purchase that fixer-upper home.
1. UNDERSTAND ANCIENT ARCHITECTURE
Old Edmonton houses dating back 30 to 50 years doesn’t have the standard architectural and engineering designs as we have today so better be prepared to create custom-made dry-walls and replace aged wirings, plumbing, ventilation, etc.
2. STRETCHED TIME FRAME
Fixing old or run down houses aren’t as easy as you think so you have to allot a flexible time frame for your project. A lot of things could go wrong; permits might be rejected, your supply store might run out of crucial items, the temperature might be too humid or too cold to do some projects, etc.
3. DO-IT-YOURSELF PROJECTS ARE NOT FUN
You might have seen TV shows projecting that DIY home improvements are easy and painless, sorry to break it to you, but its not.
Choosing the right paint colors can be come an exhausting activity, breaking down walls at 10:00pm on a weekend isn’t fun at all. Commitment and dedication will be the crucial tool that you must have in order to successfully finish this venture.
4. KEEP AN OPEN MIND
Understand Murphy’s Law…
"Whatever can go wrong, will go wrong.”
Your floor plans might not go according to… well, your plans! Don’t fret, its part of the game. You just need to relax and go with the flow.
For more from Team Leading Edge, follow the team on Twitter at @teamleadingedge. Make sure to subscribe to Team Leading Edge to get newsletters on the Edmonton Real Estate market.
Note: Remember, you can access all our available Homes For Sale in Edmonton through our Edmonton MLS Listings page.
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