Smart Investments: How to Choose a Fixer-Upper Home in Kansas City

With real estate prices on the rise, first-time home buyers and those looking to upgrade their space are more and more often considering a fixer-upper.

A fixer-upper is a house that may have some deferred maintenance and is likely outdated in terms of finishes and design. Some fixer-uppers require only cosmetic updates, while others need more extensive repairs before they’re ready to be called home.

If you’re considering buying a fixer-upper, follow these tips from PierMagic Foundation Specialists to ensure you make a smart purchase decision - and remember: necessary home foundation repair shouldn’t be a total dealbreaker. Keep reading to find out why.

Consider What You’re Looking for in a Home

Before you even begin shopping around for a fixer-upper, think about what you expect from your home. It's helpful to create a wish list of these expectations to help guide your home search.

Two of the most important wish list items you may want to consider are location and square footage. These factors are simply permanent. You cannot change the location of a home, and it can be very cost-prohibitive or legally forbidden to build an addition on your home in certain areas or homeowners associations.

Other features to consider on your wish list include:

• Number of bedrooms and bathrooms (or specific spaces that can be reconfigured for additional ones)
• Room sizes
• Architectural style (raised ranch, colonial, side-side split, bungalow, etc.)
• Garage
• Yard features and size

Ignore Cosmetic Issues in Fixer-Uppers

If you plan to buy a fixer-upper, you can expect that it will need cosmetic updates and will not be in the design style you like best. Unless certain cosmetic changes are completely out of your budget (like fully replacing the kitchen), then it’s best to ignore cosmetic issues when you’re shopping for a home.

Most aesthetic changes can be done without breaking the budget. Some things to consider: paint is cheap; wallpaper is removable; flooring can be upgraded, and some walls can even be reconfigured. There are several home trends to follow that are inexpensive and can make a huge impact.

As the fixer-upper, if you are particularly handy, you just might surprise yourself with your vast array of capabilities. Remember, the project doesn’t have to completely be done by one person. If you have friends or family that are willing to pitch in, take them up on their offer. 

Shop Around for a Good Deal

The purchase price of a fixer-upper home isn’t the only investment you’ll be making. You’ll also need to consider a budget for remodeling and repairs.

Sticking to your budget necessitates getting a good deal on the purchase price of the home. To get the best deal, you may need to look at multiple houses and compare each option, considering the purchase price along with renovations and remodeling expenses. 

Remember That No House Will Check Every Box on Your Wishlist
Shopping for a house is often a frustrating experience, particularly if you have something specific in mind. Comparing each house to your wish list is an effective way to determine whether it will work for you and your family. 

However, don’t feel married to your wish list, as it is incredibly rare to find a house that meets every criterion you’ve outlined. You may need to make some compromises, especially if you’re on a tight timeline or if you have a limited budget.

Always Get an Inspection from a Neutral Third Party

Even if you plan to purchase a house as-is, it’s still important that you hire a professional and neutral home inspector. The home inspection will, at the very least, provide you with a list of necessary repairs you’ll want to tackle as soon as you take ownership of the house. And if there are certain dealbreakers you are not willing to compromise on, a home inspection is likely to reveal them, making it clear that it’s not a good fit as your fixer-upper.

After making the offer on a home, if you’re looking for as much information as possible on the home, a regular home inspection can be complemented with specialized inspections for insect infestations, septic tanks, and more. Some home buyers also request that the house be tested for the presence of radon.

Each inspection will cost a set fee, but expect to pay a minimum of $300 for a standard home inspection. Some inspections cost more money, depending on several factors. However, this minimal fee may reveal some problems that are complete dealbreakers for you. If that’s the case, the minimal fee was a great investment.

Any inspector you hire should be a neutral third-party, meaning they should not be involved in the sale or purchase in any way. Without a vested interest in the sale of a home, the inspector is likely to offer an honest and professional evaluation of their observations.

Request a Home Foundation Repair Estimate Before You Buy

One specialized inspection you may be interested in is dedicated solely to a home’s foundation. A foundation inspection will tell you everything you need to know about the structure and health of a house you’re considering. This will share insight into any issues, minor or major, that may be happening under the home.

Should the foundation inspection reveal issues requiring resolution, it’s smart to request an estimate from a home foundation repair company like PierMagic Foundation Specialists. Companies like PierMagic can inspect the foundation and provide a free estimate for the repairs before you finalize your purchase. Suggested foundation repairs can include anything from concrete foundation cracks, post-and-pier foundation repair, basement waterproofing, wall anchoring, and more.

You can use this estimate to renegotiate on the home price, or to prepare your finances as you firm up your budget for renovation and remodeling.

Requesting an Estimate for Foundation Repairs in Kansas City

You can shop around for concrete foundation repairs, or you can contact PierMagic for a free estimate on foundation repair and basement waterproofing solutions. We’ve served the greater Kansas City area for nearly 15 years, and our unmatched customer service and expertise earned us a spot in Blogger Local Kansas City’s list of the 10 Best Kansas City Foundation Repair Companies.

Join the ranks of thousands of satisfied homeowners who sing our praises when you call us at (816) 765-4800, or send us a message online to learn more about our cost-effective foundation solutions. Keep your investment safe and strong with help from PierMagic Foundation Specialists today.